Click to edit Master title style • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level 1 The ROI of Social Media March 9, 2011
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The ROI of Social Media
March 9, 2011
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What do you primarily use social media forpersonal, business, or both?
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What social media tools do you use?
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How would you rate your knowledge of social media?(one – highest, four – lowest)
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Do you think social media is an importanttrend for your business?
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Top 10 Most Visited Sites
• Google• Facebook• Yahoo!• YouTube• Amazon
• Wikipedia• Twitter• Blogger.com• eBay• Craigslist
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Facebook 3,774,716,112Twitter 183,876,953
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Youtube.com 1,238,702,433Linkedin.com 56,542,414
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55 Minutes a day on Facebook
65M Access Facebook on Mobile Phones
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94% of people have turned their backs on traditional advertising.
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90% of consumers trust product recommendations from personal acquaintances
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Marketing has changed more in the last 5 years than in the
previous 100 combined
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Age of Distraction
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• Is it over hyped?
• Will something replace it?
• Is it a big, fat waste of time?
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SM for Business Use
• SEO• Create Brand Awareness• Reputation Management Tool• Customer Service and Support• Recruitment• Learn About New Technologies and
Competitors• Lead Generation Tool
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Three stages of the Social Media ROI cycle
Setting up, running, and optimizing a social media campaign takes place in three stages:
1)Launch2)Management3)Optimization
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Stage One: Launch
Approach: ExecutionalFocus: Long-termObjective: Social Media PresenceResults: Negligible
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Stage Two: Management
Approach: TacticalFocus: Mid-termObjective: Customer engagementsResults: Increased traffic
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Stage Three: Optimization
Approach: StrategicFocus: Long-termObjective: Social Media ROIResults: Revenue growth
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Barriers to Results
• Takes TIME to get results
• Takes UP time & Resources
• Half-hearted attempts
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Effective Social Media
• Not easy
• Not quick
• Not cheap
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• Focus
• Grab Attention
• Engage
• Take Action
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12for12 Tweet-a-Thon
• $12k in 12 hours
• Combat child hunger in the US– Clear and achievable goal– Sense of urgency short deadline – Leverage existing networks – Easy to Donate– Clear Understanding of Where $$ Go – Donor Recognition
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How to define success?
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Top Social Media Success Metrics
Source: 2009 Business.com, Inc
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EngagementClicked, bought, downloaded,
retweeted, liked
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Social Media Strategy
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Social Media Strategy
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How to Measure ROI
• Make goals specific and measurable– Increase site traffic by 25% over 6 month– Decrease calls by 10% over 6 month
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Source: Beth Kanter, How Much Time Does it Take To Do Social Media?
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Listen
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Social Media
• Forums
• Blogs
• Microblogging
• Wikis
• Podcasts
• Photos
• Videos
• Ratings
• Reviews
• Social Networking
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80% Strategy20% Technology
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Summary
• Return on Investment– Become more strategic and focused– Set benchmarks– Tangible and Intangible goals
• Return on Conversation
• Cost NOT to Participate
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Summary
• Tangible (quantitative)– Increased sales by 25% within 6 months– Decrease calls to customer support by 10%
• Intangible (qualitative)– Word of mouth– Good comments
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Opportunities Galore
• Currently in early mode• Adopt what is successful• Another form of communication• Repurpose existing content to reach
audiences in new ways• Know that change is inevitable
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Action Items
• Listen– Review Stats– Google Links– Google Alerts
• Assess Current Strategy
• Focus / Be Creative / Experiment
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Q & A
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When the winds of change blow, some people build walls
and others build windmills