monetizing social media: proven strategies for driving revenue and new customer acquisition

Monetizing Social MediaNovember 18, 2009

Presenters:Kara Trivunovic, Sr. Director of Strategic Services, StrongMailM tt St t M k ti A i t Z

,

PROPRIETARY AND CONFIDENTIAL

Matt Stewart, Marketing Associate, Zecco

Agenda #SoMe

• Introductions

• How Marketers are Monetizing Social Media

• Case Studies

• Mint.com

• Hyatt Concierge

• CSN Stores

• How Zecco Generated 14% Lift in New Account Acquisition

Getting Started

Proprietary and Confidential | 2

• Getting Started

Who is StrongMail?

Online Marketing Solutionsfor Email and Social Mediafor Email and Social Media

StrongMail enables marketers to reach, engage and influence their target audience.

• Reach audiences with a powerful, cost-effective email marketing platform

f• Extend the reach of your existing campaigns into social media

• Engage audiences by leveraging creative services and cutting-edgecreative services and cutting-edge strategy

• Identify and Influence your strongest brand advocates

A Few of Our Customers


It’s No Secret… Marketers are Leveraging Social Media

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How Can You Monetize It?

L it t l t th

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• Leverage its natural strengths.

• Build awareness with key influencers, peer influencers and social influencers.

• Enable your customers to spend their “social capital” for you and promote your brand or offer on your behalf.


The POST Methodology

People U d t d di d h t ti t th

#SoMePObj ti

eople. Understand your audience and what motivates them.

OS

bjectives.Identify what you are trying to accomplish and why.

ST

trategy. Define the best approach to meeting and exceed objectives.

Technology. Determine the tools you need to get the job done.


Marketers are… Acquiring New Customers#SoMe


Marketers are… Acquiring New Customers

#SoMe



Streamlined Interface drove higher invites per user.


One mailing drove a 44% lift in New Users versus prior week

ActualOpened: 48%Invited Friends: 10%Average Invites: 5

New Users per Invite: 1: 2.6

Average CPA: $0.50

Marketers are… Servicing their Customers#SoMe


Marketers are… Driving Purchases

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Marketers are… Driving Purchase

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Social Media’s Positive Impact on Email

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Monetizing Social Media

If you offer a free service, you may monetize your business by driving site traffic and advertiser impressions – increased subscribers may have a direct correlation to site traffic allowing you to attribute

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direct correlation to site traffic allowing you to attribute a lifetime value to the acquisition of a new customer.

D i i t i t ti i 140Driving customer service type conversations in 140 characters or less on Twitter may be successfully measured by reducing call-center traffic which offer residual savings rather than producing revenue.g p g

Your primary objective may be to drive subscription or enrollment but true success is measured by the actual incremental revenue that’s driven from that referral base. Not just revenue – but incremental purchase behavior.Not just revenue but incremental purchase behavior.

#SoMe

How Zecco Generated 14% Lift in New Account Acquisition

Matt StewartMarketing Associate, Zecco


About Zecco#SoMe

Zecco.com is a financial portal of Zecco Holdings, Inc., which also provides access to Zecco Trading, Inc.'s trading service. Zecco Holdings, inc. is not a securities broker/dealer. All securities and investments are offered to self-directed investors by Zecco Trading, Inc. Member FINRA /SIPC. More information is located on the disclosures page: http://www zecco com/trading/tradingpolicies aspx


http://www.zecco.com/trading/tradingpolicies.aspx

All material presented is for educational and informational purposes only and should not be construed as advertisement or an offer for brokerage services. Content may not be presented in its entirety, out of date or time-sensitive. For more information about Zecco Trading, Inc., please visit www.zecco.com.

Zecco Friends Program: First Generation#SoMe

Existing referral program designed to drive new customer acquisition.

• July 2007 to July 2009• July 2007 to July 2009

Worked well• Generated 6% of all accounts• 11% of allocated accounts

Offer history• $50 with no funding minimum• $65 with 1¢ minimum• $75 with $500 minimum


Opportunity to make it better#SoMe

Previous “Unsocialized” Program Social Opportunity

No social media Expand reach into social media

No ZeccoShare integration Leverage the community

Other Opportunities

No reward choice Improve reward capacity

No A/B testing Test offers, creative and copy

Confusing customer status page Reduce customer service calls

No internal reporting interface Streamline program management


Website Integration www.zecco.com/zeccoshare


One-click Facebook Integration#SoMe


Status Page

Old Mi l di#SoMe

Old- Misleading

New- Clear


Testing#SoMe

40% f t40% of accounts

39% of accounts

21% of accounts21% of accounts


* Test conducted with equal numbers of emails and ad impressions.

Employee Link Program#SoMe


Post-Purchase Engagement#SoMe


The Results: Acquisition Boost

200

250Referral Accounts, 2009 #SoMe

100

150

0

50

J F M A M J J A S

» 26% week-to-week growth for 1st 7 weeks after launch (184% overall)

» 14% boost in overall acquisition

J F M A M J J A S

» 14% boost in overall acquisition

» One new account for every 2.2 inviters

» Already cost-effective program became lowest CPA channel


» Already cost effective program became lowest CPA channel

The Results: Social Leverage#SoMe

» 9% of visitors to ZeccoShare to become influencers for the brandfor the brand

» 85% referred friends via email

» 15% referred via websites and social networks

» While more people shared via email, posting to social networks generated 2.5 times as many clicks.


Conclusion #SoMe

• Simple

• Easy

• Effective


Let’s Recap…#SoMe

DO: identify opportunities to leverage social channels to enhance your marketing effortsyour marketing efforts

DON’T: create a reason to use social just to say you l i l k ileverage social marketing

DO: get relevant and personal

DON’T: over communicate or be pushyDON’T: over communicate or be pushy


Let’s Recap…#SoMe

DO: monetize social marketing through existing metrics and goals like:goals, like:

• Measuring lift in site traffic over a previous time period

• Creating additional advertiser impressionsg p

• Acquiring new customers

• Reducing call center traffic

• Driving incremental revenue for your business


Get Started Today#SoMe

1. Check out the Zecco case study and others to see how StrongMail clients are successfully leveraging Social Influence MarketingInfluence Marketing.

http://strongmail.com/resources/our-customers/case-studies.php

2. Inventory your current programs to identify possible opportunities for growth. Do you have an existingopportunities for growth. Do you have an existing referral program that could benefit from social media?

3. Give us a call! We’ll help you build a strategy and approach for incorporating social marketing efforts in to your programs – successfully!your programs successfully!


Questions?• Visit www.strongmail.com• Whitepapers• Case studiesCase studies• Webinars• Blogs• Twitter: @strongmail• Twitter: @strongmail

Kara Trivunovic219.365.6445 [email protected]

Matt [email protected]/matt

monetizing social media: proven strategies for driving revenue and new customer acquisition

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