igniting opportunities: measuring and monetizing social media

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Igniting Opportunities: Measuring and Monetizing Social Media

April 25, 2012

Social MediaMonetization & MeasurementAdam Lavelle, Chief Strategy Officer, iCrossing

April 6, 2011

3

moment – (physics): a tendency to produce motion,

esp rotation about a point or axis

What is a moment?

4

Which moments are worth owning?

Advertising

First Moment of Truth

Point of Sale

The 3-7 seconds when

you are staring at the products on

the shelf

A.G. Lafley, P&G

SecondMoment of Truth

Use of Product

When you experiencethe product

A.G. Lafley,P&G

Exploring

The online decision-making

moment(s)

Jim Lecinski,,Google

ThirdMoment of Truth

Advocacy/WOM

What you say to others about the product

Pete Blackshaw,

Nestle

5

Source: Forrester

6

Source: Forrester

7

8

Making the moments matter

9

Buying attention alone is not sustainableA

ttenti

on

Time

LaunchLaunch EndEnd LaunchLaunch EndEnd

Ownable audience

When bought media ‘goes dark’ there is no conversation between the brand and the

audience

10

Bought, earned, owned build valueA

ttenti

on

Time

Bought

Launch

Launch

EndEnd

Bought

LaunchLaunch

EndEnd

Bought

LaunchLaunch

EndEnd

Earned & Owned

Ownable audience

*

* To succeed, earned and owned have to be always-on

11

12

13

14

15

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(% of total)

January 2012

CTR for ‘social’ email…

Source: GetResponse

17

(Minutes)

January 2012

Time Spent on Site by Log-in Type

Source: Gigya

18

(Minutes, after clicking a plug-in)

January 2012

Time Spent on Site by Plug-in Interaction

Source: Gigya

19

Human beings know they are ‘influentials’

73% of young adult women describe themselves as influential information sources

Ipsos Mendelsohn /Fleishman Hillard /Hearst, Jan 2012

Millenials Xers Boomers Seniors

I am an influential information source 73% 53% 51% 44%

I regularly influence friends and family to buy or not to buy a particular product or service

69% 49% 41% 27%

Using social network sites has made it easier for me to decide on what to buy

61% 46% 36% 29%

Using social network sites to share my shopping and product experiences make me feel empowered

51% 33% 19% 9%

Women’s marketplace influence self-assessment

20

Purchasing ‘inside’ social – not so much…

(% of respondents)

December 2011

Product Purchase Intent, via Facebook Retailer Page

Source: Oracle

21

Average revenue per order…

Source: February 2012 by ClearSaleing

Revenue Per Order

All DigitalChannelsAverage

DisplayAverage

Paid SearchAverage

NaturalSearch

Average

AffiliatesAverage

ComparisonShoppingAverage

EmailAverage

Social MediaAverage

$0.00

$50.0

$100.0

$150.0

$200.0

$250.0

$300.0

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Is this true?

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Social media enables targeted marketing responses at individual touch points along the consumer decision journey.

Source: Expert interviews; McKinsey analysis

1. Monitor Social channels for trends, insights

2. Respond to consumers’ comments

3. Amplify current positive activity/tone

4. Lead changes in sentiment

or behavior

Consider Brand monitoring Crisis management

Referrals and recommendations

Brand content awareness

Evaluate Product launches

Buy Targeted deals, offers

Experience Customer service Fostering communities

Customer input

Advocate Brand advocacy

Bond

Ste

ps in

the

cons

umer

dec

isio

n jo

urne

y

Thank you McKinsey, for having a chart…

24

Which moments matter, and how

do we make them happen well?

Thank you

Adam LavelleChief Strategy Officer, iCrossing

Find out more at www.icrossing.comFollow us on Twitter @icrossing

Become a fan at Facebook.com/icrossing

© 2012 Converseon Inc. Proprietary and Confidential

Social Media Measurement\\Igniting Opportunities: Measuring and Monetizing Social Media

April 25, 2012

© 2012 Converseon Inc. Proprietary and Confidential 26

© 2012 Converseon Inc. Proprietary and Confidential

Converseon: Leading Social Strategy and Technology Firm

27

Source: The Forrester Wave™: Listening Platforms, Q3 2010, July 2010 The Forrester Wave is copyrighted by Forrester Research, Inc. Forrester and Forrester Wave are trademarks of Forrester Research, Inc. The Forrester Wave is a graphical representation of Forrester's call on a market and is plotted using a detailed spreadsheet with exposed scores, weightings, and comments. Forrester does not endorse any vendor, product, or service depicted in the Forrester Wave. Information is based on best available resources. Opinions reflect judgment at the time and are subject to change.

The Forrester Wave: Listening Platforms

Converseon

“Best Socialized Company (with IBM)”“Best Social Agency”

“Top Ten Smartest Big Brands”

“Best Word of Mouth Program”

“Award of Excellence for Communications Innovation”

“Best Use of Virtual Worlds”

© 2012 Converseon Inc. Proprietary and Confidential

Start with KPIs: Measure with Purpose

•Reputation Management•Crisis Management•Customer Service/Call Center Reduction Costs•Innovation•Product Lifecycle Management

•Demand Generation•Media planning•Campaign Effectiveness•Compliance/legal•HR•R&D •Search, etc.

© 2012 Converseon Inc. Proprietary and Confidential

But There is Data Everywhere

29

© 2012 Converseon Inc. Proprietary and Confidential

If You’re Not Confused, You’re Not Paying Attention

30

© 2012 Converseon Inc. Proprietary and Confidential 31

What Are People Saying?

Source: Converseon analysis of public online conversation records, conducted January 2011

January 2011

ILLUSTRATIVE

© 2012 Converseon Inc. Proprietary and Confidential

twitter.com 18.2%

facebook.com 8.63%

topix.com 2.97%

aippg.net 2.01%

religiousforums.com 1.31%

mybrothers.com 1.05%

forums.studentdoctor.net 0.87%

healthmedicalinformation.com 0.87%

healthdisorder.wordpress.com 0.87%

fiercebiotech.com 0.79%

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Where is it Happening?

Top Websites for Disease State Y ConversationsApril – May 2010

Source: Converseon analysis of public online conversation records, conducted January 2011 

ILLUSTRATIVE

© 2012 Converseon Inc. Proprietary and Confidential 33

What are They Talking About?

Source: Converseon analysis of public online conversation records, conducted January 2011 

ILLUSTRATIVE

© 2012 Converseon Inc. Proprietary and Confidential

Bringing it All Together

34

» Develop measurement plan to align current business goals, KPIs, and metrics for each channel to ensure dashboard incorporates the necessary data and insights

» Establish brand health scores that allow marketers to track effectiveness of all marketing tactics

» Analyze cross-channel impact and correlation

» Implement reporting dashboard to monitor results on an ongoing basis

» Provide investment recommendations and campaign optimizations based on monthly brand results

Bridge the gap between digital, social, and traditional measurement to deliver a comprehensive performance view.

© 2012 Converseon Inc. Proprietary and Confidential

Attribution Modeling is Illuminating Dark Matter in the Measurement Universe

35

© 2012 Converseon Inc. Proprietary and Confidential

36

Next: Predictive modeling

Conversation Mining

TrafficConversion/Analytics

Sales Brand Tracking

© 2012 Converseon Inc. Proprietary and Confidential 37

But We’re A Long Way off…

Thank you

Converseon Inc. | 53 West 36th Street, New York, NY 10018 | t: 212.213.4279 | f: 646.304.2364 | www.converseon.com

© 2012 Converseon, Inc. CONFIDENTIAL AND PROPRIETARY. All rights reserved. Removal of this notice, and use, examination, disclosure, transfer, and copying of all or part of this work are prohibited except with the express written consent of Converseon.

Monetizing [Meaning Economics] of Social Media

Chris PerryWeber Shandwick Digital

Much has been made about how social disrupts media. Far less so on how it impacts our business +/-.

Let’s bust a myth at the open. The best things in [business] life are far from free. The same goes for social media.

Why some are talking up social business as much as social media

How you plan, organize, staff, implement and refine social media programs can have big impact on financials.

Fundamental questions that impact economics around social programs

QUESTION #1 [and #1b}

Who owns it…how is focus defined by discipline?

Marketing/brand

PR

Product

Customer service

All of the above

QUESTION #2

What exactly is being owned?

Social media is an

umbrella term take many different forms including magazines, forums, blogs, wikis, video, tumblr, wikis, ratings and more.

How it is [properly] applied should be anything but.

QUESTION #3

What is your process for briefings/budgeting?

Tactical support?

Campaign execution?

Ongoing community

mgt.?

Content operations?

Operations overhaul?

QUESTION #4

How do you manage an SOW when social is a fluid operation?

QUESTION #5

How are you accounting for escalating premium for talent?

Monetizing [Meaning Economics] of Social Media

Chris PerryWeber Shandwick Digital

Igniting Opportunities: Measuring and Monetizing Social Media

April 25, 2012

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