Creating Positive Social Media ROI - Digital Non Conference, Cincinnati 2011 by Raise Your Share - Shoutlet Certified

Crea%ng  Posi%ve  Social  Media  Return  on  Investment  

Moderator: Chuck Tobar, Senior Business Development Manager, Shoutlet

Panelists: Jackie Reau, Game Day Communications

Alex Shebar, Yelp

Patrice Watson, Raise Your Share

2!

Social  Media  opportuni0es  are  happening  in  real  0me….  

3!

Empower  your  employees  to  listen  and  act  

4!

Morton’s  gets  a  big  payoff  for  having  systems  in  place  

5!

How  can  your  business  generate  a  PR  home  run  like  Morton’s?  

6!

Measuring  Social  Media  ROI  

70% of companies are not adequately measuring social media initiatives

Top 3 Biggest Obstacles To Measurement:

30% Dedicated Resources (who will do it)

25% Don’t know what to measure

20% Believe Social Media is not about ROI

Study  from  Marke/ngProfs  (n=338),  Conducted  in  June  2009.  

7!

ROI  vs.  Correla0on  

There  is  only  1  formula  to  calculate  ROI  

How  does  social  media  success  %e  into  your  business  success  over  the  long  haul?    

Make  the  correla%ons!  

Source: “The 6 Step Process for Measuring Social Media”, Jay Baer’s Convince and Convert, May 31, 2011

8!

ROI  Begins  with  the  first  step  

STEP #4 Your metrics: What makes sense for your goals?

STEP #1 Your company’s goals: What are you really hoping to accomplish?

STEP #2 Your audience: Who are they? What do they do

online?

STEP #3 Your toolbox: Does it fit your needs?

9!

Building  Rela0onships  vs.  Transac0ons  

10!

Tangible  vs.  Intangible  

Tangible                Direct  sales    conversions  (ROI)  

                   E-­‐mail  captures  

                 Number  of  leads  

Intangible  Increased  brand  awareness  

 Posi/ve  brand  influence  

 Residual  sales  

Engaging  dialog  with  target  audience  

11!

ROI  –  Who  is  your  target?  

STEP #4 Your metrics: What makes sense for your goals?

STEP #1 Your company’s goals: What are you really hoping to accomplish?

STEP #2 Your audience: Who are they? What do they

do online?

STEP #3 Your toolbox: Does it fit your needs?

12!

Understanding  Your  Fans  

“We’ve  got  to  quit  iden/fying  and  collec/ng  fans  like  baseball  cards  and  start  ac/va/ng  fans”    

–  Jay  Baer  

13!

Studying  Your  Audience  

Ashley, 21

Prefers text messaging over voice calls

LOVES Facebook and uses apps

Uploads photos often

Sean, 37

Downloads podcasts to listen while traveling

Uses Twitter more than Facebook

Still prefers e-mail over mobile text messages

Linda, 58

Just joined Facebook and quickly getting the hang of it

Likes photo-sharing sites

Watches how-to videos about hobbies

14!

ROI  –  toolbox  &  talent  

STEP #4 Your metrics: What makes sense for your goals?

STEP #1 Your company’s goals: What are you really hoping to accomplish?

STEP #2 Your audience: Who are they? What do they do

online?

STEP #3 Your toolbox: Does it fit your needs?

15!

Resources  

Seldom is there zero cost in a social media campaign. Listed below are pieces to consider when creating your social media program:

•    Content  crea%on  costs  and  %me  

 •    Paid  placement  to  jumpstart  campaign  

 •    Staff  for  execu%ng  and  managing  

 •    Hos%ng  fees  

 •    Fees  from  distribu%on/tracking  tools  

 •    Consul%ng/agency  fees  

16!

Choose  Your  Metrics  

You know your goals.

You know your audience.

You’ve charted a strategy.

Now, what does success look like?

Social Media Metrics + Sales Data = ROI

Don’t get trapped by too many metrics; choose what’s important to your company and what

will track the goals you’ve outlined.

17!

Return  on  Investment:  Direct  Sales  

Build fans

Connect  via  a    one-­‐to-­‐one  rela0onship    

(e-­‐mail,  SMS,  Social  CRM)  

Build  direct  

response  strategy  

Measure  sales  

18!

Return  on  Investment:  Indirect  Sales  

Fan  

Form  

Dona/on  

Awareness  

Engagement  

Coupons  

1-­‐800  number  

19!

Tying  Impact  to  Sales:  Coupons  and  Codes  

Coupons  and  Codes:  

Provide  exclusive  deals  and  

promo  codes  to  fans  and  followers  

Encourages  pass-­‐along  

Track  redemp%ons  

20!

Case  Study:  Rayovac  

             Client:    Rayovac  

Objec0ve:  Promote  new  Facebook  fan  page  and  drive  video  views  of  Molly’s  magic  wand  commercial.  

Solu0on:  Rayovac  reached  out  to  mom  bloggers  and  Disney  fan  bloggers  with  a  Shoutlet  video  player  widget  and  a  call  to  ac%on  about  their  new  Facebook  fan  page,  where  a  sign-­‐up  widget  was  housed  to  collect  email  addresses  and  distribute  a  $3  coupon.  

Eight  blog  posts  (33%  of  those  ini%ally  contacted),  addi%onal  posts  on  coupon  blogs,  800  video  plays  on  blog  sites,  and  dozens  of  tweets  drove  customers  to  Facebook.    

To  date,  there  are  20,000+  Facebook  fans  and  an  email  database  of  over  22,000.  

100+  Rayovac  widget  embeds    

Total  Rayovac  video  views  =  Roughly  54,000  

30%  Coupon  Redemp%on!  

21!

Tying  Impact  to  Sales:  Tracking  URLs  

Social  Media  +  Website  Analy0cs  

22!

ROI  Tracking  &  Social  Commerce  

Research,  Follow,  Buy  

23!

ROI  -­‐  metrics  

STEP #4 Your metrics: What makes sense for your goals?

STEP #1 Your company’s goals: What are you really hoping to accomplish?

STEP #2 Your audience: Who are they? What do they do

online?

STEP #3 Your toolbox: Does it fit your needs?

24!

How  to  Measure:  Shoutlet’s  Repor0ng  

25!

How  to  Measure:  E-­‐commerce    

26!

Tracking  Tips  

Tips  for  Tracking:  

• Know  your  benchmarks  

• Gather  ac%onable  data  

• Be  realis%c  in  what  you  want  to  track  

• Don’t  neglect  qualita%ve  metrics  

• Don’t  measure  everything,  measure  the  right  things  

• Use  tools  and  apps  that  make  tracking  • Easier    • More  efficient  • Streamlined  

27!

RAISE YOUR SHARE Contact Information!

Patrice Watson Chief Strategist/CEO RAISE YOUR SHARE

Mobile: 513-236-5781 [email protected]

@patricewatson10

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