measuring social media roi - smx milan '13
DESCRIPTION
A presentation covering a landscape of social media value, for #SMX Milan 2013TRANSCRIPT
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Ric Dragon @RicDragon
Social Media ROI?
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What's the ROI of Trust and what’s the ROI of Loyalty?
-Ted Rubin
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Every time I hear ‘social media ROI,’ a kitten dies.
-Scott Stratton “
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Would you want to know the ROI of your mother?”
-Gary Vaynerchuk
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What’s the ROI of putting on
your pants in the morning?
-Scott Monty, Ford Motor Co.
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THE MARKETECO-SYSTEM
CUSTOMER/BRAND ECO-SYSTEM
IN THE CUSTOMERS MIND
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ASSUMPTIONS
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1.Marketing Lift
2.Impact on Search Engine Optimization
3.Risk Mitigation
THE MARKET ECO-SYSTEM
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4.Transaction (the actual purchase or negotiation)
5.Repeat transactions (TLV)
6.Loyalty – resistance to change
7.Advocacy
Customer/Brand System
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8.Awareness
9.Recognition
10.Associations
11.Perceived Quality
12.Likeability
The Customer Mindspace
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a Force Multiplier
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Awareness Value = (Market Size) X (Awareness Change %) X (Purchase Intent %) X (Sales Conversion %) X (Unit Profits €)
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Lift• Could well-executed social media increase the
effectiveness of current advertising spend by 1% If so, what would that be worth?
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Frequency Hermann Ebbinghaus Forgetting Curve
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Value of Risk MitigationPotential Cost X Likelihood of Occurrence X Mitigation Benefits = value of mitigation
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Purpose& Vision
Create Indelible
Memories
Goal
Be center to more
storytelling in social media
Objectives
Publish excellent blog
content at least six times
/ month
Increase community by 50%
Increase engagement by 100%
Increase amplification by 50%
Metrics
# of blog posts / month
# of followers
# of interactions
# of shares
# of mentions
# of comments on blog
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1000
3000
Twitter Retweets
NOW
Target
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What’s theROI of
Social Media?GREAT