The Greatest Question Since the Meaning of Life: What is the ROI of Social Media
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The document explores the significance and return on investment (ROI) of social media, emphasizing its role in contemporary marketing and consumer engagement. It highlights how traditional marketing models are being challenged and the need for businesses to adapt by implementing social media tools to build trust and drive conversations with consumers. Key metrics for measuring success include engagement, customer insight, and brand advocacy rather than direct sales leads.
The Greatest Question Since the Meaning of Life: What is the ROI of Social Media
- 1. The Greatest Question Since the Meaning of Life: What is the ROI of Social Media?
- 2. Name: C. Edward BriceAge: Over 40Use Social Media: Yes
- 3. I am NOT a Social Media Expert
- 4. Social Media
- 6. Or Has Social Media Jumped the Shark?Ashton Kutcher posts shot of Demi on Twitter
- 7. What is Social Media?
- 8. “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.” - AvonashKaushik – Analytics Evangelist, Google
- 9. Social Media
- 10. Social Media is as Old as The HillsGeorge The Medieval Blacksmith
- 11. FRICTION
- 13. Social Media is Frictionless Conversation in a Connected Environment
- 15. Why Marketers MUSTUtilize Social Media
- 16. The traditional marketing model is being challenged, and (CMOs) can foresee a day when it will no longer work.-McKinsey QuarterlyFUTURELAB
- 17. Future of Media: Digital & Universally AccessibleGlobalMobileTV / OfflineThe CloudAnytime - Any Place - Any Tools- Millions of ChannelsFUTURELAB
- 18. 14,463,346 auctions200,000,000 blogswww.ebay.com 21 Nov 2006Almost 4,000,000 articles(10 languages)>100,000,000 videos(65,000/day)1.5 million residents“The workers should appropriate the means of production”33,347,000 profilesFUTURELAB
- 19. (cc) Lynette Webb, 2006FUTURELAB
- 20. Monitoring & Measuring Social Media-Agent Wildfire 2009
- 21. 76%...of consumers don’t believe that companies tell the truth in advertisements -YankelowichFUTURELAB
- 22. MY FRIENDS – THEIR FRIENDS – and ALL THOSE WE COLLECTIVELY RESPECTTHERE IS STILL ONE TRUSTED MEDIUMLEFT IN THE WORLDFUTURELAB
- 23. B2B Purchase InfluencesSource Enquiro Inc 2008
- 24. 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
- 25. 2% reduction in negative word of mouth boosts sales growth by 1%
- 26. For the average company,1% increase in word of mouth advocacy equated to $16M extra sales A person like yourself or a peer
- 27. RADIO, TV, PRINT, EVENTS, ARE NICE, YET IN MY REALITYMY ECOSYSTEM IS THE BRANDThe words they write, speak, filmThe Stories They TellConsumersare beginning in a very real sense to ownour brands and participate in theircreation… Weneed to begin to learn to let go.- A.G. Lafley, CEO and Chairman of P&GFUTURELAB
- 28. “Businesses that don't implement Web 2.0 tools will stay behind” DarkoHerlick, Gartner VP and CIO
- 29. “There is only one thing in the world worse than being talked about, and that is not being talked about.”..Oscar Wilde
- 30. ROI of Social Media
- 32. “What do you want to measure – the “social” or the “media”? - David Alston of Radian6
- 34. Awareness
- 35. Coverage
- 36. Continuity Measures: # of visitors
- 37. # of page views
- 38. Time on site
- 39. Conversions
- 41. Advocacy
- 42. Trust
- 43. Influence
- 45. Comments
- 46. Feedback
- 47. Mentions
- 48. ReadershipBusiness ValueIncrease In RevenueDecrease In Costs
- 49. Monitoring & Measuring Social Media-Agent Wildfire 2009
- 50. Warning, Warning.Sales & Leads are Nice But They Are NOT The Objectives
- 51. Social Media is ConversationalConversations are NOT About ROI
- 52. Conversations are About VALUE
- 53. Ed’s Social Media Value GoalsAwarenessEngagementListeningInnovationBrandSEOThought LeadershipAdvocacyInfluenceEvangelismSentimentServiceInsightIdeationFeedbackCollaboration
- 54. Ed’s Social Media Value GoalsInnovationListeningValue CreatedEngagementAwarenessTime
- 55. Ed’s Social Media Value GoalsAwarenessEngagementListeningInnovationBrandSEOThought LeadershipAdvocacyInfluenceEvangelismSentimentServiceInsightIdeationFeedbackCollaborationEvangelismSuccess KPIsPage views Replies Suggestions Comments Inbound Links ComplaintsFriends Press mentions TrafficFollowers Referrals Embedded contentRegistrations Posts Syndication
- 56. Awareness2009 Social Media ROI-Egg Co.
- 57. EngagementGoals: Share information about company & products
- 58. Start a dialogue between company and customers KPI : # of customer commentsResults: 100 people commenting on the blog each month Equivalent to gaining customer insight from a focus groupForrester 2009Value: Equivalent to running a focus group every month at the cost of $15,000 a month, or $180,000 a year.
- 59. Innovation2009 Social Media ROI-Egg Co.
- 60. Our Story
- 61. Lumension’s HistoryAcquired: July ‘07Acquired: Feb ‘07Acquired: April ‘09Founded in 1991Established: Sept ‘07Market-leading patch managementFirst cross-platform and application patch management solutionEnterprise-class vulnerability managementFirst credentialed based vulnerability scannerMarket-leading device and application controlFirst to introduce whitelisting / patented file “shadowing” technologyCompliance and Risk Management.Delivering predefined compliance and control frameworks
- 64. Our Social Value Matrix
- 65. Lumension’s Optimal Security BlogObjectives: Improve SEO
- 66. Garner more press coverage
- 68. Launched Q4 ‘08Direct Blog Impact on Press
- 69. Lumension YouTube ChannelObjectives: Increase awareness
- 70. Improve SEO
- 72. Syndicate our rich media
- 73. Position thought leadersLumension YouTube ChannelLaunched June 2008
- 74. Video Views - 16,132
- 75. Branded Channel Views - 5,840
- 76. Subscribers - 46
- 77. Favorites Lists - 8
- 78. Syndicated – over 60
- 79. Lumension Connect Customer CommunityObjectives: Garner more insight from customers
- 80. Connect
- 81. Collaborate
- 83. Co-innovateCommunityLaunched July 30th (select invitations)
- 84. Visitor Commitment8.57 pages avg. per visit11.24% of visitors viewed more than 20 pages8:50 avg. time on site24.5% bounce rate~8 visits per dayContent Garden
- 86. Twitter ReachTotal Impression opportunity: 2250MValue/impression:$.10Value:$225,000Cost to Lumension: $0
- 88. Integrated Syndicated ApproachPR WebBlogAgencyHot TopicsTwitter
- 90. Decide if You Want To Have a Conversation
- 91. Understand Your PersonasLISA AUDIT MANAGERBIG REGULATED, INC.JACK DIR/MNGR INFO SECBig REGULATED, INC.CHUCKCISO/VP INFO SECBIG REGULATED, INC.Reads industry blogsMember of online professional communitySocially FacebooksActive BloggerActive TwittererMember of online professional community Engaged in online forumsSocially FacebooksReads industry publications & business pressAttends industry eventsFacebooks to keep in touch with Grandchildren
- 92. Content is King
- 93. Think Like a Publisher
- 94. Don’t Forget about Your Website
- 95. Social Media Doesn’t Scale…It’s a Commitment
- 96. Thank YouBlog: marketinggimbal.com Follow: http://twitter.com/cedwardbriceConnect: linkedin.com/in/cedwardbriceBookmark: delicious.com/cedwardbriceFriends: facebook.com/cedwardbrice
Editor's Notes
- #36: When we start looking at value creation versus just hard ROI we can begin to see a different context and in my view relationship start to emerge
- #37: When we start looking at value creation versus just hard ROI we can begin to see a different context and in my view relationship start to emerge
- #38: When we start looking at value creation versus just hard ROI we can begin to see a different context and in my view relationship start to emerge