monetizing social media: social media as the vehicle... not the destination

54
Monetizing Social Media Social Media as the Vehiclenot the Destination + 4 Specific ROI Opportunities

Upload: chase-sagum

Post on 06-Dec-2014

1.214 views

Category:

Business


1 download

DESCRIPTION

This is a presentation I gave at the Utah Business Summit in Provo, Utah 3.13.2012. It was about Social Media ROI and specifically inside I cover 4 specific ROI opportunities that we should all be taking advantage of.

TRANSCRIPT

Page 1: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Monetizing Social MediaSocial Media as the Vehicle… not the

Destination + 4 Specific ROI Opportunities

Page 2: Monetizing Social Media: Social Media as the Vehicle... not the Destination

What This Presentation Is Not…

Page 3: Monetizing Social Media: Social Media as the Vehicle... not the Destination
Page 4: Monetizing Social Media: Social Media as the Vehicle... not the Destination
Page 5: Monetizing Social Media: Social Media as the Vehicle... not the Destination
Page 6: Monetizing Social Media: Social Media as the Vehicle... not the Destination

A holistic and successful approach to monetizing your social media efforts

@chasesagum

Page 7: Monetizing Social Media: Social Media as the Vehicle... not the Destination

A Little About Me

• 7 years experience in Internet Marketing• 2006-07 project manager• 2007-2009 small business owner• 2009-2011 Director of SEO at 1on1 Marketing• Webmaster at AccessData• Married• Utah Valley• I’m a Bare-Foot Ultra Marathon Runner

Page 8: Monetizing Social Media: Social Media as the Vehicle... not the Destination
Page 9: Monetizing Social Media: Social Media as the Vehicle... not the Destination
Page 10: Monetizing Social Media: Social Media as the Vehicle... not the Destination
Page 11: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Truth #1 = Social Media is not a Marketers platform. It’s a Consumers Platform.

@chasesagum

Page 12: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Truth #2 = There is no “one-size fits all” strategy. Each business succeeds in Social

Media differently.

@chasesagum

Page 13: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Truth #3 = Social Media is an amplifier. Good products or services are made to look great. Bad products or services are made to look terrible.

@chasesagum

Page 14: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Truth #4 = Social Media and Content Marketing go together… like peanut butter and jelly!

@chasesagum

Page 15: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Truth #5 = You don’t have full control of your message. So adapt!

@chasesagum

Page 16: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Truth #6 = Differentiation from your competitors is critical

@chasesagum

Page 17: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Truth #7 = Your website must Educate, Market and Sell

@chasesagum

Page 18: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Truth #8 = Your blog is the hub of your social media presence and strategy.

@chasesagum

Page 19: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Truth #9 = Social Media sites are where all the people are

@chasesagum

Page 20: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Truth #10 = Trust in traditional advertising continues to erode.

@chasesagum

Page 21: Monetizing Social Media: Social Media as the Vehicle... not the Destination

4 Keys to Success for Monetizing Social Media

Page 22: Monetizing Social Media: Social Media as the Vehicle... not the Destination

The 3 C’s of Social Media are…

• Consumption• Curation• Creation

@chasesagum

Page 23: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Authenticity. Nobody likes “fake” people, especially in Social Media.

@chasesagum

Page 24: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Automation. Automating your social efforts just enough so you don’t lose authenticity

@chasesagum

Page 25: Monetizing Social Media: Social Media as the Vehicle... not the Destination
Page 26: Monetizing Social Media: Social Media as the Vehicle... not the Destination

@chasesagum

Analytics & Reporting = how do you really know if Social Media is working for you or not if you’re

not tracking your efforts?

Page 27: Monetizing Social Media: Social Media as the Vehicle... not the Destination

ROI = (revenue – investment)/ investment *100

@chasesagum

Page 28: Monetizing Social Media: Social Media as the Vehicle... not the Destination
Page 29: Monetizing Social Media: Social Media as the Vehicle... not the Destination

ROI Opportunity #1 = Brand Development

@chasesagum

Page 30: Monetizing Social Media: Social Media as the Vehicle... not the Destination
Page 31: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Quick ROI Math

• $100,000 in video production• $20,000 in Facebook advertising• August 2011 – 735,000 units sold to Wal-Mart• $1 per unit• Spent $120,000 to make $735,000• 512% ROI

Page 32: Monetizing Social Media: Social Media as the Vehicle... not the Destination

ROI Opportunity #2 = Social Proof

@chasesagum

Page 33: Monetizing Social Media: Social Media as the Vehicle... not the Destination
Page 34: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Quick ROI Math

• $500 in social promotion efforts• 1.23% CVR to 2.21% CVR• Went from 26 to 44 units sold• $70 per can of paint• Spent $5,000 to make $1,260• 152% ROI

Page 35: Monetizing Social Media: Social Media as the Vehicle... not the Destination

ROI Opportunity #3 = Media Buying

@chasesagum

Page 36: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Purchasing Ads Through…

Page 37: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Margin = (Revenue – COGS) / Revenue

@chasesagum

Page 38: Monetizing Social Media: Social Media as the Vehicle... not the Destination

• “Like” targeting

Page 39: Monetizing Social Media: Social Media as the Vehicle... not the Destination

• Group targeting

Page 40: Monetizing Social Media: Social Media as the Vehicle... not the Destination

• User targeting

Page 41: Monetizing Social Media: Social Media as the Vehicle... not the Destination

ROI Opportunity #4 = SEO

@chasesagum

Page 42: Monetizing Social Media: Social Media as the Vehicle... not the Destination

In the world of SEO, Social Media acts as a ranking signal telling search engines like Google that “this site isn’t spam and we can prove it!”

@chasesagum

Page 43: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Correlate & Isolate SEO Data

@chasesagum

Page 44: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Reputation Management

@chasesagum

Page 45: Monetizing Social Media: Social Media as the Vehicle... not the Destination
Page 46: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Get your social profiles ranked to improve your reputation online.

@chasesagum

Page 47: Monetizing Social Media: Social Media as the Vehicle... not the Destination

How Much Are These Worth To Your Business?

• Improved Customer Service (retention)• Testimonials• Traffic Diversification• Learning your customers language• Competitive intelligence• Solid reputation• Continual decrease in online marketing costs over time• Recruiting and hiring new talent• Upsells and Cross-sells

Page 48: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Social Media helps turn prospects into customers, and helps keep customers

@chasesagum

Page 49: Monetizing Social Media: Social Media as the Vehicle... not the Destination

3 Golden Questions

• What do I want my brand to be known for?• What are my potential customers biggest

challenges and how can I help them overcome these?

• How much is each individual customer worth to me?

Page 50: Monetizing Social Media: Social Media as the Vehicle... not the Destination

My Soapbox = Focus on Small Wins!

@chasesagum

Page 51: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Social Media is the Vehicle, not the destination when it comes to monetization

@chasesagum

Page 52: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Some Recommended Reading for you

Page 53: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Download This Presentation & Other Resources for Free

http://bit.ly/yCEzsj

Page 54: Monetizing Social Media: Social Media as the Vehicle... not the Destination

Sources:• http://mashable.com/2011/11/15/social-media-roi-measure/• http://

socialmediatoday.com/socialmedia-canada/265351/social-media-roi-idiots• http://www.reelseo.com/orabrush-youtube-success-story/• http://adage.com/article/news/orabrush-national-walmart-deal-youtube-vide

os/229914/

• http://adly.com/• http://sponsoredtweets.com/• http://mylikes.com/• http://bufferapp.com/• http://hootsuite.com/• http://en.wikipedia.org/wiki/Twitter• http://www.quicksprout.com/2011/08/24/how-social-media-affects-seo/• http://www.seomoz.org/article/search-ranking-factors