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Social	
  ROI	
  Simplified	
  




A	
  prac'cal	
  approach	
  to	
  Social	
  Success	
  	
  	
  	
  	
  	
  	
  	
  	
 ...
About	
  Me	
  

 • 	
  Co-­‐founder	
  &	
  CEO	
  of	
  80/20	
  Solu'ons	
  

 • Founding	
  member	
  and	
  chairman	...
About	
  the	
  Company	
  
   80/20	
  SoluIons	
  


   • 	
  Founded	
  in	
  2004	
  
   • 	
  So<ware-­‐as-­‐a-­‐Serv...
About	
  Us	
  




        Data	
                                           MarkeIng	
  Pla@orm	
                    Expe...
How	
  can	
  I	
  help	
  you?	
  

1.  Give	
  you	
  a	
  simple	
  way	
  to	
  think	
  about	
  Social	
  
    ROI	
...
Let’s	
  dispel	
  a	
  few	
  myths…	
  




                                 ©	
  Steve	
  Irvine	
  2009.	
  	
  stevei...
1.	
  Social	
  Media	
  is	
  FREE	
  

                            Technology	
  




             People	
  
          ...
2.	
  Social	
  is	
  a	
  NEW	
  concept	
  




                                   ©	
  Steve	
  Irvine	
  2009.	
  	
  ...
3.	
  Social	
  is	
  the	
  SAME	
  as	
  other	
  marke'ng	
  




                                      ©	
  Steve	
  I...
4.	
  Social	
  is	
  ONLY	
  for	
  brand	
  




                                       ©	
  Steve	
  Irvine	
  2009.	
 ...
5.	
  Social	
  ROI	
  is	
  calculated	
  differently	
  


                   (PROFIT	
  FROM	
  INVESTMENT	
  -­‐	
  COS...
Where	
  is	
  social	
  today?	
  

•  Brand	
  Awareness	
  

•  ROI	
  for	
  Customer	
  Service	
  	
  
   (cujng	
  ...
Where	
  do	
  we	
  need	
  to	
  be?	
  




       Social	
  genera'ng	
  Revenue	
  
                                 ...
How	
  do	
  we	
  sell	
  more?	
  

•  Right	
  Person	
  	
  

•  Right	
  Message	
  

•  Right	
  Time	
  

         ...
The	
  Social	
  Landscape	
  is	
  confusing…	
  

      Social	
  Success	
  Framework	
  


                       Valu...
Focus	
  on	
  the	
  constant…	
  




                        Value	
  
                       Crea'on	
  
             ...
Explain	
  social	
  to	
  your	
  grandmother…	
  




                                ©	
  Steve	
  Irvine	
  2009.	
  	...
Early	
  Social:	
  The	
  Tupperware	
  Party	
  



                                            Separate	
  the	
  
  Jo...
Join	
  the	
  conversa'on…	
  




                            ©	
  Steve	
  Irvine	
  2009.	
  	
  steveirvine.typepad.c...
Get	
  them	
  on	
  your	
  turf…	
  




                                 ©	
  Steve	
  Irvine	
  2009.	
  	
  steveirvi...
Separate	
  the	
  influencers	
  from	
  the	
  
friend	
  collectors…	
  
•  Iden'fy	
  the	
  people	
  with	
  influence...
Mo'vate	
  them	
  to	
  buy!	
  




                             ©	
  Steve	
  Irvine	
  2009.	
  	
  steveirvine.typepa...
Success	
  Measurement	
  




                       ©	
  Steve	
  Irvine	
  2009.	
  	
  steveirvine.typepad.com	
  
Social	
  Today:	
  Most	
  Marketers	
  



                                                 Build	
  fan	
  /	
  
      ...
Social	
  Success	
  Measurements	
  




Challenge:	
  They	
  do	
  not	
  'e	
  back	
  to	
  business	
  metrics	
  th...
Social	
  Measurement	
  Gap	
  
                                  Return	
  on	
  
                               Investm...
Social	
  Today:	
  Tupperware	
  applied	
  



                                            Separate	
  the	
  
  Join	
 ...
Join	
  the	
  conversa'on…	
  




                            ©	
  Steve	
  Irvine	
  2009.	
  	
  steveirvine.typepad.c...
Get	
  them	
  on	
  your	
  turf…	
  




                                 ©	
  Steve	
  Irvine	
  2009.	
  	
  steveirvi...
Separate	
  the	
  influencers	
  from	
  the	
  
friend	
  collectors…	
  




    Name:	
  Jennifer	
  James	
           ...
Mo'vate	
  them	
  to	
  buy!	
  




                             ©	
  Steve	
  Irvine	
  2009.	
  	
  steveirvine.typepa...
Success	
  Measurement	
  




                       ©	
  Steve	
  Irvine	
  2009.	
  	
  steveirvine.typepad.com	
  
Simple	
  tools	
  to	
  get	
  beoer	
  ROI	
  




                                 ©	
  Steve	
  Irvine	
  2009.	
  	
 ...
Bridging	
  the	
  Measurement	
  Gap	
  
•  Add	
  more	
  accountability	
  to	
  your	
  social	
  metrics	
  
        ...
New	
  Value	
  Matrix	
  for	
  Customers	
  


                                                                   Brand	...
Start	
  simple,	
  but	
  close	
  the	
  loop…	
  
Take	
  aways	
  

 • 	
  Social	
  is	
  NOT	
  Free	
  


 • 	
  Focus	
  on	
  the	
  customers	
  

 • 	
  Bridge	
  t...
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Social ROI: How to measure and achieve results in social media marketing

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Social marketing speaker Steve Irvine, founder & CEO of 80/20 Solutions, presents his views on how to measure and achieve social ROI. Taken from a recent AMA keynote. Full webinar available online at http://bit.ly/d4GyKq

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Social ROI: How to measure and achieve results in social media marketing

  1. 1. Social  ROI  Simplified   A  prac'cal  approach  to  Social  Success                                         by  Steve  Irvine,  Co-­‐founder  &  CEO,  80/20  Solu'ons  
  2. 2. About  Me   •   Co-­‐founder  &  CEO  of  80/20  Solu'ons   • Founding  member  and  chairman  of  The    Thought   Leadership  Group  (digital  and  social  marke'ng  think  tank)   •   Former  CEO  of  Mo'on  Media  Interac've   •   Former  Digital  Media  advisor  to  IMG  (the  world’s  largest   sports,  media  and  entertainment  company)   •   Former  Analyst  covering  early  SoOware-­‐as-­‐a-­‐Service  space   •   Speaker  on  social  and  digital  marke'ng   Steve  Irvine   @steveirvine   Steveirvine.typepad.com   • Recent  keynote  at  AMA  Social  ROI  event   #SMROI   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  3. 3. About  the  Company   80/20  SoluIons   •   Founded  in  2004   •   So<ware-­‐as-­‐a-­‐Service  pla@orm  launched  in  June  2005   •   Headquartered  in  Canada,  with  faciliIes  in  the  US  and  Europe   •   Focused  on  delivering  soluIons  for  CPG,  Retail,  Food  Services   and  Sports  &  Entertainment   Snapshot   •   High  Profile  client  por@olio  including  Pepsi,  General  Mills,  Mars   and  Virgin  Mobile   •   Rapid  revenue  growth   •   Venture  Funded   •   Quickly  taking  market  share  from  legacy  players   Technology   •   Intelligent  Campaign  Management  pla@orm  that  learns  your  customers  and  opImizes  campaigns  on-­‐the-­‐fly  automaIcally  for  ROI   •   “All  in  one”  pla@orm  combines  markeIng  execuIon  with  customer  segmentaIon,  scoring  and  real-­‐Ime  reporIng   •   Integrated  across  a  variety  of  digital  and  social  markeIng  tacIcs  (email,  mobile,  contests,  coupon,  loyalty  programs,  survey,  web)   Market  Buzz   •   ”The  Next  GeneraIon  of  Campaign  Management”  –  Forrester  Research   •   “A  Company  to  Watch”  –  IDC  Research  
  4. 4. About  Us   Data   MarkeIng  Pla@orm   ExperIse   • Data  services  to  enrich  your   • 360°  Customer  Profile   • Ready-­‐go  Campaigns   current  database   • Brand  Engagement  Index   • Managed  Programs   • Understand  prospects   • Influence  Scoring   • Dedicated  Support   behavior  and  media   • Digital  Marke'ng  Execu'on   • Social  Marke'ng   preferences   (Contests,  Promo'ons,  SMS,   • Digital  Marke'ng   • Enhanced  with  psychographic   Email,  Loyalty  programs,   • Customer  Insights   and  Social  values  insight   surveys)   Next  GeneraIon  Campaign  Management   Intelligent  Campaign  Management   www.8020solutions.com
  5. 5. How  can  I  help  you?   1.  Give  you  a  simple  way  to  think  about  Social   ROI   2.  Give  you  real  tools  and  ac'on  items  to   actually  achieve  a  high  social  ROI   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  6. 6. Let’s  dispel  a  few  myths…   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  7. 7. 1.  Social  Media  is  FREE   Technology   People   Social   Time   Success   Process   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  8. 8. 2.  Social  is  a  NEW  concept   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  9. 9. 3.  Social  is  the  SAME  as  other  marke'ng   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  10. 10. 4.  Social  is  ONLY  for  brand   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  11. 11. 5.  Social  ROI  is  calculated  differently   (PROFIT  FROM  INVESTMENT  -­‐  COST  OF  INVESTMENT)   ROI  =   COST  OF  INVESTMENT   What’s  different  is  how  you  calculate  the  value  of  a  customer  in  the  social  world   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  12. 12. Where  is  social  today?   •  Brand  Awareness   •  ROI  for  Customer  Service     (cujng  communica'ons  costs)   •  ROI  for  Marke'ng  (cujng  media  costs)   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  13. 13. Where  do  we  need  to  be?   Social  genera'ng  Revenue   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  14. 14. How  do  we  sell  more?   •  Right  Person     •  Right  Message   •  Right  Time   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  15. 15. The  Social  Landscape  is  confusing…   Social  Success  Framework   Value   Crea'on   (ROI)   And  ever  changing   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  16. 16. Focus  on  the  constant…   Value   Crea'on   (ROI)   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  17. 17. Explain  social  to  your  grandmother…   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  18. 18. Early  Social:  The  Tupperware  Party   Separate  the   Join  the   Get  them  on   influencers   Mo'vate   conversa'on   your  turf   from  friend   them  to  buy   collectors   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  19. 19. Join  the  conversa'on…   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  20. 20. Get  them  on  your  turf…   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  21. 21. Separate  the  influencers  from  the   friend  collectors…   •  Iden'fy  the  people  with  influence  over  others   •  Make  sure  to  focus  on  those  people   •  Get  them  involved  in  helping  to  drive  others  to   purchase   •  Just  cause  you  brought  people  with  you,   doesn’t  mean  you  have  influence  over  them   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  22. 22. Mo'vate  them  to  buy!   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  23. 23. Success  Measurement   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  24. 24. Social  Today:  Most  Marketers   Build  fan  /   Join  the   Listen   follower   conversa'on   base   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  25. 25. Social  Success  Measurements   Challenge:  They  do  not  'e  back  to  business  metrics  that  maoer  to  the  business   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  26. 26. Social  Measurement  Gap   Return  on   Investment  (ROI)   G Social     Metrics   Life'me  Value   (LTV)   A Engagement   Influence   P Business   Metrics   Loyalty   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  27. 27. Social  Today:  Tupperware  applied   Separate  the   Join  the   Get  them  on   influencers   Mo'vate   conversa'on   your  turf   from  friend   them  to  buy   collectors   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  28. 28. Join  the  conversa'on…   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  29. 29. Get  them  on  your  turf…   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  30. 30. Separate  the  influencers  from  the   friend  collectors…   Name:  Jennifer  James   Name:  Jennifer  Jones   Friends:  525   Friends:  30   Friends  Told:  525   Friends  Told:  30   Friends  Acquired:  0   Friends  Acquired:  25   New  Revenue  Generated:  $0   New  Revenue  Generated:  $25,000   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  31. 31. Mo'vate  them  to  buy!   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  32. 32. Success  Measurement   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  33. 33. Simple  tools  to  get  beoer  ROI   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  34. 34. Bridging  the  Measurement  Gap   •  Add  more  accountability  to  your  social  metrics   •  HINT:  Influence  =  ability  to  drive  ac'on,  not  fans/followers   •  Close  the  loop  between  social  ac'vi'es  and   revenue-­‐genera'ng  /  Cost-­‐cujng  ac'ons   •  HINT:  Think  about  a  migra'on  /  progression  strategy   •  Focus  on  what  is  constant:  The  people   •  HINT:  Networks  will  come  and  go,  have  a  people  strategy   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  35. 35. New  Value  Matrix  for  Customers   Brand   Brand   Daters   Advocates   Brand   Brand   Acquaintances   Loyalists   ©  Steve  Irvine  2009.    steveirvine.typepad.com  
  36. 36. Start  simple,  but  close  the  loop…  
  37. 37. Take  aways   •   Social  is  NOT  Free   •   Focus  on  the  customers   •   Bridge  the  gap  between  social  metrics  and   business  metrics   •   Don’t  reinvent  the  wheel  (look  to  the  past)   Steve  Irvine   THANK  YOU  FOR  YOUR  TIME   @steveirvine   Steveirvine.typepad.com   #SMROI   ©  Steve  Irvine  2009.    steveirvine.typepad.com  

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