the greatest question since the meaning of life: what is the roi of social media
TRANSCRIPT
The Greatest Question Since the Meaning of Life:
What is the ROI of Social Media?
Name: C. Edward BriceAge: Over 40Use Social Media: Yes
I am NOT a Social Media
Expert
Social Media
Or Has Social Media Jumped the Shark?
Ashton Kutcher posts shot of Demi on Twitter
What is Social Media?
“Social media is like teen sex. Everyone wants to do it. Nobody knows how. When
it’s finally done there is a surprise that it’s not better.”
- Avonash Kaushik – Analytics Evangelist, Google
Social Media
Social Media is as Old as The
Hills
George The Medieval Blacksmith
FRICTION
FRICTIONLESS Internet
Social Media is Frictionless Conversation in a Connected
Environment
Conversation Desired Traits:Honesty
OpennessEngaging
InterestingRelevantListening
Why Marketers MUSTUtilize Social Media
The traditional marketing model is being challenged, and (CMOs) can foresee a day when it will no longer work. -McKinsey Quarterly
FUTURELAB
Future of Media: Digital & Universally Accessible
Global Mobile TV / Offline The Cloud
Anytime - Any Place - Any Tools- Millions of Channels
FUTURELAB
200,000,000 blogs
1.5 million residents
“The workers should
appropriate the means of
production”
>100,000,000 videos(65,000/day)
www.ebay.com 21 Nov 200614,463,346 auctions
Almost 4,000,000 articles(10 languages)
33,347,000 profiles
FUTURELAB
(cc) Lynette Webb, 2006
FUTURELAB
Monitoring & Measuring Social Media-Agent Wildfire 2009
...of consumers don’t believe that companies tell the truth in advertisements -Yankelowich
76%
FUTURELAB
THERE IS STILL ONE TRUSTED MEDIUMLEFT IN THE WORLD
MY FRIENDS – THEIR FRIENDS – and ALL THOSE WE COLLECTIVELY RESPECT
FUTURELAB
B2B Purchase Influences
Source Enquiro Inc 2008
33%
61%55%
51%
2003 2004 2005 2006
A person like yourself or a peer
Harvard Business ReviewWhen forming an opinion of a company, how credible would the information be from … • 7% increase in word of
mouth unlocks 1% additional company growth
• 2% reduction in negative word of mouth boosts sales growth by 1%
• For the average company,1% increase in word of mouth advocacy equated to $16M extra sales
The words they write, speak, film
The Stories They Tell
RADIO, TV, PRINT, EVENTS, ARE NICE, YET IN MY REALITY
MY ECOSYSTEM IS THE BRAND
Consumers are beginning in a very real sense to own our brands and participate in their creation… We need to begin to learn to let go.
- A.G. Lafley, CEO and Chairman of P&G
FUTURELAB
“Businesses that don't implement Web 2.0 tools will
stay behind”
Darko Herlick, Gartner VP and CIO
“There is only one thing in the
world worse than being
talked about, and that is not being talked
about.”..Oscar Wilde
ROI of Social Media
TraditionalROI
Social Media
THE BIGBANG
“What do you want to measure – the “social” or the “media”?
- David Alston of Radian6
SocialMedia
Business ValueIncrease In RevenueDecrease In Costs
Objectives:• Reach• Awareness• Coverage• Continuity
Measures:• # of visitors• # of page views• Time on site• Conversions
• Leads/Subscriptions/Sponsorships
Objectives:• Loyalty• Advocacy• Trust• Influence• Engagement
Measures:• Sentiment • Comments • Feedback • Mentions • Readership
Monitoring & Measuring Social Media-Agent Wildfire 2009
Sales & Leads are Nice
But They Are NOT The Objectives
Warning, Warning.
Conversations are NOT About ROI
Social Media is Conversational
Conversations are About VALUE
Ed’s Social Media Value Goals
BrandSEO
Thought Leadership
AdvocacyInfluence
Evangelism
SentimentServiceInsight
IdeationFeedback
Collaboration
Awareness Engagement Listening Innovation
Ed’s Social Media Value Goals
Val
ue
Cre
ated
TimeAwareness
Engagement
Liste
ning
Innovation
Ed’s Social Media Value Goals
Success KPIs
Page views Replies SuggestionsComments Inbound Links ComplaintsFriends Press mentions TrafficFollowers Referrals Embedded contentRegistrations Posts Syndication
BrandSEO
Thought Leadership
AdvocacyInfluence
Evangelism
SentimentServiceInsight
IdeationFeedback
CollaborationEvangelism
Awareness Engagement Listening Innovation
Awareness
2009 Social Media ROI-Egg Co.
Engagement
Goals: • Share information about
company & products• Start a dialogue between
company and customers
KPI : • # of customer comments
Results:• 100 people commenting on
the blog each month• Equivalent to gaining
customer insight from a focus group
Value: Equivalent to running a focus group every month at the cost of $15,000 a month, or $180,000 a year.
Forrester 2009
Innovation
2009 Social Media ROI-Egg Co.
Our Story
Lumension’s History
Founded in 1991
Market-leading patch management
First cross-platform and application
patch management solution
Enterprise-class vulnerability
management
First credentialed based vulnerability
scanner
Acquired: Feb ‘07
Market-leading device and
application control
First to introduce whitelistin
g / patented
file “shadowi
ng” technolog
y
Acquired: July ‘07
Established: Sept ‘07
Acquired: April ‘09
Compliance and Risk Management.
Delivering predefined compliance and
control frameworks
iTunes
YouTube Twitter
Community
Blog
Our Social Value Matrix
Awareness Engagement Listening Innovation
Value Goals Improve SEOExtend our Brand through leadership
Dialogue & with our ecosystemInfluence the Influencers
MonitorSentiment
Elicit feedbackCo-innovate
SuccessKPIs
MentionsReferring linksNew visitorsOrganic RankingsSyndication
Build channels# Blog comments# Twitter Engagements
Build channels# Engagement# of issues addressed
Build Community# of Customer members# of content uploads
Tools/Channels PRWebBlogTwitterFacebookYouTubeiTunes
BlogLinkedInTwitterFacebook FlickrYouTube
TwitterBlog
CommunityBlog
Value Drivers Cost of advertisingCost of SEO & PPC
User groupsEventsAnalyst meetings
Customer service costsCompetitive intelligence
Development bandwidthUser group events
Lumension’s Optimal Security Blog
Objectives:
• Improve SEO
• Garner more press coverage
• Drive thought leadership
• Launched Q4 ‘08
Direct Blog Impact on Press
Lumension YouTube Channel
Objectives:
• Increase awareness
• Improve SEO
• Drive thought leadership
• Syndicate our rich media
• Position thought leaders
Lumension YouTube Channel
• Launched June 2008
• Video Views - 16,132
• Branded Channel Views - 5,840
• Subscribers - 46• Favorites Lists - 8• Syndicated – over
60
Lumension Connect Customer Community
Objectives:
• Garner more insight from customers
• Connect
• Collaborate
• Share best practices
• Co-innovate
Community
• Launched July 30th (select invitations)
• Visitor Commitment 8.57 pages avg. per visit
11.24% of visitors viewed more than 20 pages
8:50 avg. time on site 24.5% bounce rate ~8 visits per day Content Garden
Launched:Q3 08Following: 1100Followers:803
Twitter Reach
Total Impression opportunity: 2250MValue/impression:$.10
Value:$225,000Cost to Lumension: $0
Listening: The Good
Integrated Syndicated Approach
Hot Topics
Agency
PR Web
Blog
Key Lessons Learned
Decide if You Want To Have a Conversation
Understand Your Personas
LISA AUDIT MANAGERBIG REGULATED, INC.
JACK DIR/MNGR INFO SECBig REGULATED, INC.
CHUCKCISO/VP INFO SECBIG REGULATED, INC.
Reads industry blogsMember of online professional communitySocially Facebooks
Active BloggerActive TwittererMember of online professional community Engaged in online forumsSocially Facebooks
Reads industry publications & business pressAttends industry eventsFacebooks to keep in touch with Grandchildren
Content is King
Think Like a Publisher
Don’t Forget about Your Website
Social Media Doesn’t Scale…
It’s a Commitment
Thank YouBlog: marketinggimbal.com
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