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Proving Social Media ROI

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Proving Social Media ROI

  1. 1. Proving Social Media ROI: What is Engagement Worth? Brought to you by & &
  2. 2. Join the Conversation…
  3. 3. Our Speakers Lux Narayan is the CEO and Co-Founder of Unmetric Inc, the Social Media Benchmarking company. Unmetric is is a pioneer in the social media competitive intelligence space, and is quickly carving & owning a niche for itself in providing unique analytics across social media platforms like Facebook, Twitter, YouTube & Pinterest. Dr. Natalie L. Petouhoff is a business strategist & consultant as well as a leading authority on social media ROI. As a Forrester Analyst, Dr. Natalie led the pack by writing the world's 1st social media ROI model. Today Dr. Natalie continues to lead the marketplace with her practical experience & proven abilities to guide companies & brands. Arthur Bailey is the Senior AR/PR Manager for Microsoft Worldwide SMS&P. With a strong emphasis on Microsoft’s channel recruitment and SMB sales strategies, Bailey manages analyst engagements that focus on Microsoft’s core technologies as well as its channel and SMB programs’ strengths and challenges. Maggie Fox is the founder and CEO of Social Media Group, established in 2006 and one of the world’s most highly respected independent agencies helping business navigate the socially engaged Web. Pioneers in their field, Social Media Group has developed social media strategies for some of the best- known brands in Europe and North America. @maggiefox #smtlive
  4. 4. 4 Reasons to ROFL (when asked for Social Media ROI) Just because Social Media has more metrics, we expect There is no magical Social Media ROI Formula that’s to be able to quantify ROI been eluding us thus far! ROI is from "Project Finance". What's the "value" of a Fan? Let’s If you had ROI on variable costs, you're printing money! figure the ROI on a TV GRP first!
  5. 5. Frameworks for thinking around the ROI Box Return Sales A.I.D.A. TV www Social 2. Attribution Visitor metrics: Social Metrics: Viewer Metrics Time on site, Mentions, Likes, Preference, UBA, assets viewed, etc Comments, Shares, UAA etc RTs, @mentions, etc Buying GRPs Buying Traffic Building Community Creating adverts Creating Creating engagement Maintaining conversations stickiness Investment 3. Benchmarking...
  6. 6. Digital Marketing / PR Business Goals Would it be useful if yoube good if you could… Would it could: • Improve Digital Campaign Response: • Accurately measure, identify and rank, engage top influencers and measure results quickly • Improve Campaign Management & Effectiveness: • Conduct real-time digital campaign analysis, measure campaign/ engagement results, more accurately, quickly and easily • Prevent a PR disaster or reduce brand damage – length of issue and depth of problem • Optimize Online Advertising Investment: • Optimize advertising effectiveness based upon refined target message creation. @drnatalie
  7. 7. Case Study: Occasion-Based Marketing in CPG Challenge and/or Business Objective Actions Taken • Identify the occasions on which • Strategically place cheese next to eggs consumers most enjoy cheese and dairy aisles • Confirm hypothesis that consumers most • Developing commercial in breakfast enjoy their cheese product in a BBQ setting setting • Creating other “breakfast themed” campaigns Insights Discovered Results/ Outcome • Saved time and money on market • Cheese gets the most “buzz” and research / small focus groups conversation at breakfast time • Increased the sales of the cheese by • Consumers talk more about making moving it closer to breakfast foods omelets than cheese burgers @drnatalie
  8. 8. Case Study: Campaign Launch in QSR Challenge and/or Business Objective Actions Taken • Launched a new product • Found that some skews in certain areas • Wanted to determine its uptake in were selling on a steady path various markets • Other areas sales stopped completely Insights Discovered Results/ Outcome • The re-allocated the inventory, sending • They cities where sales stopped was more to locations that had higher sales because the people bought them all volumes and they couldn’t find them anywhere • Hit highest sales record in life of the product line @drnatalie
  9. 9. Case Study: Issues Tracking in CPG Challenge and/or Business Objective Actions Taken • A cosmetics company wanted to • Pulled product from the selves determine how its new foundation • Reformulated product product was performing in the market • Reached out to bloggers to educate place them on new formula Insights Discovered Results/ Outcome • Restored brand reputation • A new word “oxidization” used to describe product discoloration issues • Re-launched new product in Fall 2012 • Broke record sales • Identified key health and beauty bloggers that were spreading this mis- information @drnatalie
  10. 10. PR Crisis Recovery & Restore Sales – = x 100 • What is the cost of a PR Crisis Recovery plan? • People: Staff salary (existing) • Impact to annual revenue /shareholder value? • Revenue lost / week during PR Crisis? • Process: Training to use the system • Length PR Crisis without social media monitoring? (5 days) • Length PR Crisis with social media monitoring? • Cost to restore corporate brand reputation / equity? • Technology: • Fix a product issue and return sales volume Social Media Monitoring Platform Benefit: $2M to restore the brand’s reputation and restore sales of product • Investment: (1 year) = $25K x 12 = $300K ROI = $2M – $300K x 100 = 566% ROI $300K www.DrNatalieNews.com/blog @drnatalie
  11. 11. Join the Conversation…
  12. 12. Our Speakers Lux Narayan is the CEO and Co-Founder of Unmetric Inc, the Social Media Benchmarking company. Unmetric is is a pioneer in the social media competitive intelligence space, and is quickly carving & owning a niche for itself in providing unique analytics across social media platforms like Facebook, Twitter, YouTube & Pinterest. Dr. Natalie L. Petouhoff is a business strategist & consultant as well as a leading authority on social media ROI. As a Forrester Analyst, Dr. Natalie led the pack by writing the world's 1st social media ROI model. Today Dr. Natalie continues to lead the marketplace with her practical experience & proven abilities to guide companies & brands. Arthur Bailey is the Senior AR/PR Manager for Microsoft Worldwide SMS&P. With a strong emphasis on Microsoft’s channel recruitment and SMB sales strategies, Bailey manages analyst engagements that focus on Microsoft’s core technologies as well as its channel and SMB programs’ strengths and challenges. Maggie Fox is the founder and CEO of Social Media Group, established in 2006 and one of the world’s most highly respected independent agencies helping business navigate the socially engaged Web. Pioneers in their field, Social Media Group has developed social media strategies for some of the best- known brands in Europe and North America. @maggiefox #smtlive
  13. 13. Thanks for Joining Us! • This webinar will be available on-demand at www.SocialMediaToday.com. • An archived version of the webinar along with the slides will be emailed to you in a couple of days • Thank you to today’s webinar sponsor SAP. #smtlive
  14. 14. Join us next week for: Social Media & Organizational Change: Disruptor or Facilitator? Do internal social tools help or hinder your company? #smtlive

Editor's Notes

  • Enable digital team to get a deeper level of understanding of the drivers (why?) behind consumer sentiment, brand passion & intensity. Understand more precise sentence meaning (less interpretation of results) enabling more targeted/engaging advertising messages.
  • Investment:And that’s just the value for minimizing PR riskAdd the other benefitsMake the right business decisionsSaving your company money

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