commercialising communities - swarm 2013

Commercialising

Communities

Agenda – Commercialising Communities

1.Introductions2.A Community’s Value3.Direct commercialisation4.Indirect commercialisation5.Measuring ROI6.Wrap-up

What you should take away…

1.An understanding of the key community commercialisation models.

2.How they apply to your community.

3.How to prove the value of your community.

Introductions

16Community Managers

2Designers

2SAMs

Introductions

Almost 300 Australian businesses managed on

social media

Introductions

Over to you…

Let’s hear about the type of community you run.

Finding a Community’s

Value

Finding Your Community’s Value

49%of CMOs don’t know the value of their social.*

*The CMO Survey - 2013

Finding Your Community’s Value

Finding Your Community’s Value

Finding Your Community’s Value

Finding Your Community’s Value

Question

Do you know the value that your community does or could provide to your business?

Direct Monetisation

Advertising

Affiliate Marketing

Branded Content

…And more.

E-commerceDonationsPay-walls

EventsPodcasting

Email marketingAnd more..

Truelocal Monetisation?

Question

Has anyone tried any of these commercialisation strategies?

Are any of these right for your communities?

Are there any strategies you’d like to try?

Indirect Monetisation

Indirect Monetisation

Yelp - Indirect Monetisation

Beletti

Restaurant and Café in Melbourne Suburbs

•What is Beletti’s community ROI?

Beletti

Restaurant and Café in Melbourne Suburbs

•Customer retention and loyalty.•1149 Likes•Anecdotal uplift in bookings

SOHO Dresses

Online fashion retailer

•What is SOHO dresses community ROI?

SOHO Dresses

Online fashion retailer

•Over 3000 likes.•Sales have doubled along with traffic.

Tas IVF

IVF Clinic

•What is Tas IVF’s ROI from social?

Tas IVF

IVF Clinic

•1200 Likes•Building a safe community for women engaging in or interested in IVF•Referrals have grown by 8%•Procedures have increased by 13%

Daalders

Exhausts and Mufflers Business

•What is Daalders ROI from social?

Daalders

Exhausts and Mufflers Business

•1500 Likes•Solid number of customer service enquires.•Showcases business products.

Questions

In what way is your community indirectly generating revenue?

How to Commercialise

Your Community

Direct

Indirect

Commercialising White Pages Community

White Pages Report

•Key Growth Metrics

•Benchmarking•Reporting on growth metrics

•Aligning goals with the wider

business?

Key Stakeholder Engagement

Question

What will you STOP, MINIMISE, KEEP DOING, do MORE of and START?

Measuring ROI

Indirect Monetisation

What’s Important to Your Business?

SalesSubscriptions

Direct revenueRatingsTraffic

Customer retentionDonations

?

Question

What are the core objectives of your business?

ROI – Analytics and Tracking

ROI – Earned Media Value

ROI – Earned Media Value

US$174=

Synapcase 2013- - http://www.syncapse.com/value-of-a-facebook-fan-2013/#.UW6uQrVJNQU

ROI – Business Data and Timelines

ROI – Word of Mouth

ROI Planning

1.Identify business goals.

2.Define success metrics.

3.Benchmark.4.Track, measure,

correlate, and adjust.

Example – Roadmap and Reporting

•Set the benchmarks for measuring ROI –

Roadmap.

•Return to those benchmarks as often as

possible through reporting.

Question

What metrics should you be reporting for your community?

How could you be tying that value in better with wider business

objectives?

Who should you be reporting to?

Wrap-Up

Wrap-Up

Commercialisation can be direct or indirect.

Regardless, it’s important to

understand and demonstrate the

value your community provides

your business.

Direct

1)Are you ready to directly commercialise?1)Is your community big enough?2)Will they accept commercialisation?3)Do you have wider business support?

2)Don’t limit yourself to one strategy but focus on one to start with a get it right.

3)Implement lightly and be prepared to change if needed.

4)Measure and analyse.

Indirect

1)Tie your community back to core business objectives.

2)Find a way to measure and track your community against core business metrics.