Increasing Your ROI using Social Media - Merging Media Access 360

“INCREASE YOUR ROI USING

SOCIAL MEDIA + GAMIFICATION”

FEATURING ROCHELLE GRAYSON +SCOTT DODSON

PRESENTED BY

Who is Rochelle?

rochelle@rochelle.ca | @RochelleGrayson

Introduction to Basic Social Media Monetization Concepts

Marketplace

Types of Markets

One Party Another PartyMarketplace

Something

$$$$

Primary: Vendor Customers/Partners

Secondary: Peer Peer

Tertiary: Customers/Users Vendors

Scarcity

The Elusive “ROI”

How to Calculate ROI

Investment$$

Results(Measured Activities)

Returns - $$(incl. Cost Savings)

ROI = (Returns – Investment) Investment

How Much Does Social Media Cost?

Conversion Funnel(Or, Sales Funnel)(Or, Decision Tree)

(Or, Engagement Funnel)

Micro/Assisted

Macro/Last

Co

nver sio

ns

Val

ue

($)

Lower

Higher

The Visitors

Quantity or Qualityof Comments

Donations

Virtual Goods

Sales

Conversation# of Audience Comments (or Replies) Per Post

Amplification• # of Retweets Per Tweet• # of Shares Per Post• # of Share Clicks Per Post (or Video)

Applause!!# of Favorite Clicks per Post or Video

# of Likes per Post or Video# of +1s per Post or Video

Economic ValueSum of Short and Long Term Revenue and Cost Savings

Define Your Success

Participation Pyramid

90%Audience

(Passive)

9%Editors

1% Creators

95-5 Community Rule

Money

What Do People Pay For?

Time

Convenience

Immediacy

Comfort

Ads

Self - Esteem

Relationships

Belonging

Access

Scarcity

Health & Wellbeing

Wealth

Entertainment

Creative Learning

Instructions

Questions to Ask

• Can people:– Do something more quickly

– Get something more quickly

– Access something scarce

• Do we provide something sought-after to a select number of people?

• Would people still use us if we purposefully added occasional annoyances?

• Do we offer a a superior user experience?

Questions to Ask

• Do we make people feel better about themselves or their image?

• Can people form or retain meaningful relationships with others?

• Do we improve the health or physical safety of people?

• Do we give people the opportunity to make or save money?

• Do we improve people's career prospects?

Questions to Ask

• Do we provide a service that people need to perform their job? Or, perform their job better?

• Do we improve the perceived status of people?

• Do we provide valuable entertainment for people?

• Do we allow people to experience something emotional?

• Do we allow people to express their creativity?

• Do we provide people with relevant knowledge or information?

Q & ADiscussion

Paranormal Activity Film● Production budget of $10,000● Got horror fans in front of of the film and taped their reactions. The resulting videos went viral!● Paramount quoted horror movie fans for review blurbs rather than professional critics.● Flooded college campuses with messages● Limited release at unusual places — 13 theaters on or near college campuses● Let fans decide where the film would roll out next to prove their interest in seeing the film● The film never had a premiere. However, after the consumer generated marketing campaign, the studio held celebratory premiere parties for the areas that demanded the film most.● Allowed ~150,000 fans who had worked to promote the film to add their names to the film's credits.● Film grossed over $107,000,000 at the box office and an additional $16,000,000 on DVD.

Rogers has changed its promoted tweet in response to the negative backlash from consumers:

We’re on Twitter to listen & help. We’re hearing you loud & clear today. You can reach us @RogersHelps #Rogers1Number

Calculate!

Answers

Economic Value

How Would You Calculate ROI?Paramount Pictures:#Super8Secret Promoted Trend created a tremendous spike in conversations: ● Tweets of the hashtag reached 9 million impressions in 24 hours ● 20,000 Mentions of the movie skyrocketed to 150 per minute● Receipts for the sneak preview exceeded $1 million● Paramount said opening weekend box office surpassed expectations by 52% ($35,451,168)

● ROI Calculation:● Promoted Trend: $120K/day● 9 million Impressions = 9,000 * CPM ($0.10) = $900● 20,000 Mentions = 20,000 * 2 = $40,000● Sneak Preview Revenues = $1 million

ROI = ($1,000,000 + $40,000 + $900 - $120,000) / $120,000 = 7.67