the business value of social media @ social media & community 2.0 strategies - boston, ma april...
DESCRIPTION
The value that businesses, large and small, can achieve from social media is tremendous and includes many components. Measuring that value isn’t so tough if you’ve got the right strategy in place. In this interactive session, Jamie Pappas of AMP Agency, the leader in inspiring brands with integrated digital and experiential marketing, will offer her strategy and tactics for addressing the question of social media ROI at any organization. As presented at Social Media & Community 2.0 Strategies Conference, April 2, 2011 http://www.iirusa.com/socialmedia/come-to-social-media-event.xmlTRANSCRIPT
©2011 Jamie J. Pappas. All rights reserved.
Measuring for Success The Business Value of Social Media
@JamiePappas
VP, Social Media, AMP Agency
Social Media & Communities 2.0, March 2011
©2011 Jamie J. Pappas. All rights reserved.
Let’s Connect! AMP Agency Boston, MA 02114
www.jamiepappas.com
These slides will be available on SlideShare at h2p://www.slideshare.net/jamiepappas
Jamie Pappas @JamiePappas
Possibili=es Inspire Me.
©2011 Jamie J. Pappas. All rights reserved.
Me: @JamiePappas #JamieRocks My Company: @AMP_Agency #AMProcks The Conference: @community20 #SocialC20
For the Twi7era8
Image courtesy of: h6p://www.inflectovita.com 3
©2011 Jamie J. Pappas. All rights reserved. 4
Social Media Can Mean a lot of Things
Borrowed with permission from AMP Agency.
©2011 Jamie J. Pappas. All rights reserved. 5
But Regardless of the Defini8on, it is here to stay
More than 25 billion pieces of informa8on
are shared on Facebook per month
51% of Facebook fans are more likely to buy the brands they are a fan of than brands
they aren’t
67% of Twi7er followers are more likely to buy the
brands they follow
Borrowed with permission from AMP Agency.
©2011 Jamie J. Pappas. All rights reserved. 6
Users of loca8on based social networks are 38% more likely than the average U.S. online adult to say friends and family
ask their opinions before making a purchase
But Regardless of the Defini8on, it is here to stay
The average household income of consumers who u8lize loca8on
based social networks is roughly $20,000
higher than consumers who don’t
Borrowed with permission from AMP Agency.
©2011 Jamie J. Pappas. All rights reserved. 7
Social bookmarking sites are responsible for over 31% of the hits to global websites and are an essen8al piece to any SEO strategy
But Regardless of the Defini8on, it is here to stay
Borrowed with permission from AMP Agency.
©2011 Jamie J. Pappas. All rights reserved.
But Regardless of the Defini8on, it is here to stay
There are more than 146 million blogs on
the Internet
260 million+ people visit one or more WordPress blogs
every month, viewing over two billion pages
of content
Borrowed with permission from AMP Agency.
©2011 Jamie J. Pappas. All rights reserved.
How We Define Social Media
At AMP, we believe that Social Media
isn’t defined by the channels, but rather by the consumer
behaviors it enables:
To Share “I can’t wait to show Timmy that
hilarious YouTube video”
To Gain Status “I just unlocked the mayor badge
at Waldo’s Bagels.”
To Communicate “So happy you found me on
Facebook. Can’t believe it’s been two years since we graduated!”
9 Borrowed with permission from AMP Agency.
©2011 Jamie J. Pappas. All rights reserved.
How Brands Should Use It
Social media is not a stand alone tac=c, and is not a singular point in =me. It should be used as the connec=ve =ssue that links all of your outward communica=on efforts. Tap into the poten=al of social media and harness the power of direct dialogue by developing an integrated social strategy that connects with consumers across the social media sites they are already spending =me on.
10 Borrowed with permission from AMP Agency.
©2011 Jamie J. Pappas. All rights reserved.
If you do social media without goals in mind, you’re just shou8ng at people!
So, what are your goals? • Understanding and par=cipa=ng in the conversa=on? • Listening to and learning from customers and compe=tors? • Product research and Development? • Increasing brand and offering awareness? • Enabling and recognizing brand advocates and evangelists?
11 Image courtesy of: h6p://www.wsitargetmarke>ng.com
©2011 Jamie J. Pappas. All rights reserved.
Once you have defined goals, you can define your strategy
12
The Audience • Who are we trying to reach?
• Where are they located?
Listening to Your Audience • What is our audience talking about?
• What is our audience saying about us?
The Conversa8on • How will we have a conversa=on?
• What value are we providing?
The Tools • What tools meet our goals?
• What is our strategy for each social media tool we plan to use?
The Team • Are we commibed long-‐term to this plan?
• What are our teams’ explicit roles?
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©2011 Jamie J. Pappas. All rights reserved. 13
You need to monitor real-‐8me…
• Campaigns, Conferences, Launches, News & Announcements • WOM & Sen=ment • Customer Service & Support Issues • Sales Leads • Product Development & Innova=on • Product Research & Usability • Recruitment/Employment Brand • Exper=se/Influencer chaber
Image courtesy of: h6p://surveyanaly>cs.files.wordpress.com
©2011 Jamie J. Pappas. All rights reserved. 14
And measure over 8me…
• Social Audience • How big is our audience?
• Views • How many eyeballs on content?
• Engagement • How many interac=ons with content?
• Referring Traffic • Are we bringing folks home?
• Share of Voice • How are we stacking up?
Image courtesy of: h6p://dawn.hofsted.net
©2011 Jamie J. Pappas. All rights reserved.
Clearly defined goals Strategy in support of your goals Engagement & Conversa=on Monitoring real =me Measuring over =me
15
Your formula for success:
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