roi of social media
DESCRIPTION
My speaker slides for today's Digital Marketing First. DMF plays an essential role in the world of media, where everyone, from advertisers to advertising agencies, have to adapt to the digital revolution. ...www.digitalmarketingfirst.be/TRANSCRIPT
ROI of Social Media
Clo Willaerts
Digital Marketing First
28 Oct 2010
About.me/clo
Return on Investment
ROI = ( Profit - Investment ) / Profit
1. Investment
Overheard at an advertising agency: “Sothis marketing manager tells me we
should do a Fanpage on Facebook. Andhe tells me not to ask for extra budget
“because he KNOWS Facebook is free!””
Budget
1. Marketing budget2. Extra budget
1. Separate project budget, tied to a specificproject or custom media programme.
2. Moved from an other budget1. Agency fees2. Media budgets for mainstream media3. Advertising budgets
2. Return
• More revenue• Saving costs
Establish clear marketing goals+ how you will measure success
1/5 Technology
Is this your target group?
1. Hear what they aretalking about(= listening &monitoring)
2. Give them somethingto talk about
Objective: reflect yourbrand and its values inall of your social mediaassets.
2/5. Brand perception &awareness
?
Is yours a t-shirt brand?
3/5. Traffic & audience
• if– your own website (on your own domain) =
your web publishing home base– your social media real estate = satellites of
this home base• then
– how do you use social media to drive traffic toyour site(s)?
Why would they leave?
4/5 Relationship marketing“As defined by the dictionary, a relationship
is “an emotional or other connectionbetween people.” Not between a personand a company avatar. Not between aperson and an automated response.People to people.”
Humanizing the organization, Lauren Vargas,Radian6
Objectives
• to establish a closer relationship with yourcustomers/prospects
• to identify new customers and prospects• to increase customer retention• to be more able to receive customer
feedback
5/5 Sales and lead generation(aka conversion)
Objectives
• lead generation• to increase sales of existing products• to introduce new products• to enter new geographic markets
Accessing coupons posted on Facebook often require that youbecome a fan of the company by pressing their "Like" button.
3. The Real Return“Being open should not
be a mantra orphilosophy, but aconsidered,rigorous approachto strategy andleadership thatyields real results."
Innovation vs ITIt means your staff are
going to be coming upwith solutions on theirown. [...] Thetechnology doesn’tcome from theinformation technologydepartment; IT’s newjob is to support andencourageemployees."
Innovation vs customer care
“To succeed withempoweredcustomers, youmust empower youremployees to solvecustomer problems.”
Every employee is first line“Companies are unable to scale to keep up with
the social phenomenon.We know that customers are using these socialtechnologies to share their voices, andcompanies are having a very difficult time tokeep up. [...]Customers don’t care what department you’re inthey just want their problem fixed.”
March 2010 Altimeter report
Innovation vs recruiting
Innovation vs CRM
Innovation vs Sales“Cold calling [...] will become less
prominent. Rather than pickup the telephone and callsomeone we have nevercontacted, we will pick up thetelephone and call someonewith whom we have had anestablished relationship viaTwitter or Linkedln.”
(“The New Handshake”, by Joan C.Curtis, Barbara Giamanco 2010)
Social Media are changingthe way we live our lives
and do business
Thank you
[email protected]://www.conversity.be