Marketing on social networks

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دسي هه ‎SOCIAL NEDIA RO. 7‏ CHARLOTTE, N.C. 1 ۲ 2 9 0 Md ee 12 

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= Okay fine. But if brandbuildert.* 

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Now go figure out wha' Program you have to cut fund this Social Media thi Remember that our bonu: are on the line. brandbuildert.* 

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Ar Understand that a new 5 5061| ۱۷/6۵2 5 funding doesn’t appear 9 a 5 W out of thin air.: /hich buckets do we empt ) fill ‏ند ی‎ new one? ‘brandbuildes ta” 

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SAY HELLO TO: ۲.۰ 4 “brandbuilderta* 

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STURN 7 ‏ليله‎ MENT “brandbuilderta® 

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۹8 Investment Expectation of return “brandbuilderta® 

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۹8 (GAIN FROM INVESTMENT - COST OF INVESTMEN COST OF INVESTMENT “brandbuilder ta 

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‎OD‏ اك ‎ROI is a business metric, not a media metric. ‎ ‎ROI is 100% media-agnostic. ‎۱۱۷ measuring digital or social won’t get you anywhe ‎4 ‎“brandbuildert.* 

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4 Oren ‏...لوك‎ brandbuildert.* 

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rank my PR budget by 20 ‘and my outbound call budget by’ 40%. pw I can afford a team of soci, media Okay, hotshot, You have your Social Media doohickey. low I’d better see some rea brandbuilder 

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Dudes, we are ON THI et’s start engagin’ 

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brandbuilderts® 

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Twitternets? Ofrmy! Look at all the ne visitors to our website! and all of our FaceBook friends! ot Damn, we even hav ments on the blog! ‘brandbuilder 1 

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brandbuilderts® 

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Monitoring to base.. Our Google Analytics are through the roof! Even our social brandbuilder'ta® 

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feasuring med eally rocks m) —¢ 

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Six Months ۱ 

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4 Vhat kind of mood is | || | ‏الى‎ The old man in today? Not good. le doesn’t care how many visitors the website gets, or how many lls we estimate brandbuildert.® 

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I'm sorry, son. If your Social Media program is generating revenue, we aren’t But why? ur website is getting mad hits, Jack! brandbuildert.* 

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We need to start ing this stuff to actual here to start? Let’s see At the beginning? brandbuildert.* 

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$$$ $$$ investment > action » reaction * non-financial financial impact impact wwwthebrandbullderwordpress.com 4 “brandbuilder ta” 

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wit RO1 (ve). $$$ $$$ investment > action » reaction {non-financial} financial impact impact wwwthebrandbullderwordpress.com 4 “brandbuilderta* 

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Website Vittoraiceessions ne complaints Click-throughs Positive 9۹5 ۳ YouTube views Retweets Coupons distributed Visitors to a brick & mortar store Positive WOM. a Delivered emails ۳ 7 _ Negative press Negative WOMmployment applications FaceBook friends _ Blog comments Social mention Twitter followers “brandbuilderta® 

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The investment-neturan relationship 933 $$$ investment # action » reaction > non-financial » financial h impact impact This is very important A bt ROL doesnt dive here wwwthebrandbuilderwordpress.com 4 “brandbuilder ta” 

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ONO are rier eae e Measure ROI Here —I $$$ $$$ investment » action » reaction * non-financial ® financial impact impact CNCT here) t wwwthebrandbullderwordpress.com 4 “brandbuilderta* 

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4 Oren ‏...لوك‎ brandbuildert.* 

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NF brand! 8% YoY Growth 

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8% YoY growth 60% YoY growth brandbuildert.* 

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wwacthebrandbullderwordpress.com 4 ~“brandbuilderte™ 

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Social Media ROI cones Transacting Customers Jan Feb Mar Apr MayJun Jul Aug Sep Oct No wwaithebrandbullder 4 ‘brandbuildert. 

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F.R.Y. FREQUENCY, REACH, YIELD ow often customers transact. (transactions per month) ow many customers you are reaching. (net new customers) ow much they spend. ($ per transaction) “brandbuilderta® 

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ie latest numbers indicate at our YoY sales $ are up 60% Our individual transactions have doubled, as have our transacting Something’s working! Let’s figure out what. ‘brandbuilder 1 

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positive mention negative mention overall mentions Jan Feb Mar Apr MayJun Jul Aug Sep Oct NovDecJan Feb www.thebrandbullderwordpress.com ‘brandbuildes ta” 

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retail store | traffic Jan Feb Mar Apr MayJun Jul Aug Sep Oct NovDecJan Feb vowwthebrandbullderwordpress.com ‘brandbuildes ta” 

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Cr Atm Oradea ac ‏سح‎ Social Media ROI senes website visitors blog-to-website, cli¢kthrough: 2008 2009 Jan Feb Mar Apr MayJun Jul Aug ‘Sep Oct NovDecJan Feb wewithebrandbullderwordpress.com 4 “brandbuilderta* 

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overlaid all of our timelin and noticed that since our social me So is there a discernable patter 72 

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Gtep S: Overlay of tievelices activities =>loyalty metrics etc. 4 “brandbuildert.* 

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Impact Impact Impact. No Impact 2008 2009 Jan Feb "Mar Apr ‘MayJun Jul "Aug Sep Oct NovDecJan Feb www.thebrandbullderwordpress.com Before | After 4 “brandbuildert.* 

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Gtep 0 How was this Social Media ‏عم اک‎ group Touched bygsM? Jan Feb Mar Apr MayJun Jul Aug Sep Oct NovDecJan Feb www.thebrandbullderwordpress.com Before | After 4 “brandbuildert.* 

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ination, really. Isolating patterns, quantifying deltas, proving ad-hocs. Then all we have to do is gure out what the cos! ings and revenue gains are, and plug them nto the equation¢ ‘brandbuilder 1 How long will all 

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۹8 (GAIN FROM INVESTMENT - COST OF INVESTMEN COST OF INVESTMENT “brandbuilder ta 

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۹8 Investment Expectation of return “brandbuilderta® 

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his R.O.1. thing wasn’t at all about eyeballs! brandbuildert.® 

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All things \ remaining the iP We may have proof of First things first: Prove ۱۳2 rari Media works 

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Social Media program is impacting every aspect of our business except ۳ ‏غ3لانلا عذنا‎ ۷/9 TTT to make it work better. brandbuilder'ta® 

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==More store traffic. Roger that, —_ . Dudes, we are ON THI et’s start engagin’ 

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Finally, someone with some real metrics for me to sink my teeth into! brandbuilder 

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20 ١ guess Social Media going to stick around a littl whi Yessir. doks like our budget is safe for not 4 brandbuilder te” 

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Olivier Blanchard Principal, BrandBuilder Marketing 864.630.7398 4 ‏ره‎ 599 www.thebrandbuildermarketin g.com @thebrandbuilder (on Twitter) www.smroi.net ¢ brandbuildert.* 

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Slideography Slide # Source 3,9, 10, 12, 18-31, UFO (TV series) 37, 38, 48, 52, 56, http://ufoseries.com/ 59.65 4 btto://www.minnpost.com/stories/2008/06/18/2282/this doesnt compute as more women enter scientific fields their numbers In computer scien ‏وبري لصيو وروي‎ embers compuier scien Kim Jong ll puppet, from “Team America” http://blogs.rockymountainnews,com/bridget/kimionail,joa ‘wrandbuilder ta 

Enough with the Social Media BS. Give me the realz. ocial Fresh Conference // 24 August 2009 SOCIAL MEDIA IS NOT FREE. 1. It takes people. 2. It takes technology. 3. It takes time. We have… rocks. … all of which are limited resources. These resources = 100% of your budget E-Marketing Head Count Advertising Inbound Call Center I.T. Marketing Sales Dept. Public Relations Accounting Each resource has a specific cost Each resource yields specific results These resources generate 100% of your business E-Marketing Losing even 1% Head Count Advertising of your budget’s efficiency could seriously ruin Inbound Call Center I.T. Marketing your day. Sales Dept. Public Relations Accounting Okay fine. But if I’m going to take a chance on this social media thing, it had better make good busines sense! Why should I allocate resources to it? Reason #1: It will result in a cost reduction. Maybe in customer service? You mentioned something about business intelligence and market research? Reason #2: It will generate more revenue. I want more transactions, more net new customers, more customer loyalty, etc. Now go figure out what Program you have to cut to fund this Social Media thing Remember that our bonuses are on the line. Understand that a new Social Media program’s funding doesn’t appear out of thin air.: Which buckets do we empty o fill this new one? SAY HELLO TO: Business Justification R.O.I. ROI RETURN . ON . INVESTMENT . THE R.O.I. EQUATION Investment Expectation of return THE R.O.I. EQUATION (GAIN FROM INVESTMENT - COST OF INVESTMENT ROI = COST OF INVESTMENT Truth about R.O.I. ROI is a business metric, not a media metric. ROI is 100% media-agnostic. nly measuring digital or social won’t get you anywher Reason #1: COST REDUCTION Reason #2: REVENUE GENERATION Remember what Mr. Bossman said… I shrank my PR budget by 20% and my outbound call budget by 40%. Now I can afford a team of social media Rock stars. Can I get a hellz yeah? Okay, hotshot, You have your Social Media doohickey. Now I’d better see some real results! Or else… Woohoo! I have a job!!! Dudes, we are ON THIS!!! Let’s start engagin’!!! I call dibs on the Corporate blog. Cool. ACCOUNTING One Month Later… What about our Twitternets? Oh my! Look at all the new visitors to our website! and all of our FaceBook friends! Hot Damn, we even have comments on the blog! This rocks! I never had it so good!!! Cool. ACCOUNTING Three Months Later… Yeah but… What about the P&L? Monitoring to base… Monitoring to base… Our Google Analytics are through the roof! Even our social mentions are wicked good! We have liftoff! Measuring media really rocks my world. Nope. Anything? Nada. ACCOUNTING Six Months Later… What kind of mood is The old man in today? Not good. He doesn’t care how many visitors the website gets, or how many eyeballs we estimate we’ve reached unless it means we’re selling more stuff. But why? Our website is getting mad hits, Jack! And we have 3,000 followers on Twitter now! I’m sorry, son. If your Social Media program is generating revenue, we aren’t seeing it. We need to allocate resources where we can make money. It’s just business. Darn it. This media measurement stuff isn’t working. We need to start tying this stuff to actual Business performance. Where to start? Let’s see… At the beginning? Things happen in sequence. Non-financial impact is not ROI (yet). Types of non-financial impact Customer complaints Website Visitors Impressions Click-throughs Positive press YouTube views Retweets Coupons distributed Visitors to a brick & mortar store Positive WOM Delivered emails Negative press Negative WOM Employment applications FaceBook friends Blog comments Social mention Twitter followers Non-financial impact = potential. ROI = actualized potential. Reason #1: COST REDUCTION Reason #2: REVENUE GENERATION Remember what Mr. Bossman said… I need proof that what we’re doing is actually working. Start with proof of concept. Step 1: Establish a baseline 8% YoY Growth Baselines illustrate deltas (changes) Is something happening here? Step 2: Create Activity Timelines Step 2: Create Activity Timelines Step 2: Create Activity Timelines Step 3: Look at Sales Revenue Step 3: Also look at # of transactions Step 3: Also measure net new customers Transaction data should be specific F.R.Y. FREQUENCY, REACH, YIELD How often customers transact. (transactions per month) How many customers you are reaching. (net new customers) How much they spend. ($ per transaction) The latest numbers indicate that our YoY sales $ are up 60%. Our individual transactions have doubled, as have our transacting customers. Something’s working! Groovy! Let’s figure out what. Step 4: Measure transactional precursors Step 4: Measure transactional precursors Step 4: Measure transactional precursors We overlaid all of our timelines and noticed that since our social media activities began, our website visits are up, our social mentions are also up, and everyone seems to love us. So is there a discernable pattern in this? Step 5: Overlay all timelines activities social data web data transactions loyalty metrics etc. Step 6: Look for patterns Uncertain Impact Impact Impact Impact No Impact Before After Step 7: Prove relationships How was this group Touched by SM? Before After How long will all this analysis take? It’s all a process of elimination, really. Isolating patterns, quantifying deltas, proving ad-hocs… Then all we have to do is figure out what the cost savings and revenue gains are, and plug them into the equation. THE R.O.I. EQUATION (GAIN FROM INVESTMENT - COST OF INVESTMENT ROI = COST OF INVESTMENT THE R.O.I. EQUATION Investment Expectation of return Oh wow. This R.O.I. thing wasn’t at all about measuring media, impressions and eyeballs! All things remaining the same… We may have proof of concept. Hot damn! ACCOUNTING First things first: Prove that Social Media works So it turns out that our Social Media program is impacting every aspect of our business except traffic in our brick and mortar stores. Can you get on that? Yeah. We need to find out why we aren’t having an effect there. Kthxbye. Then use what you know to make it work better. More store traffic. Roger that. Dudes, we are ON THIS!!! Let’s start engagin’!!! I’ll start crafting some wicked blog posts. Finally, someone with some real metrics for me to sink my teeth into! Good job, Sparky! You done gewd! So I guess Social Media is going to stick around a little while longer after all, isn’t it? Yessir. Looks like our budget is safe for now. Drinks for Everybody! Olivier Blanchard Principal, BrandBuilder Marketing 864.630.7398 www.thebrandbuildermarketin g.com @thebrandbuilder (on Twitter) www.smroi.net Slideography Slide # Source 3, 9, 10, 11, 18-31, 37, 38, 48, 52, 56, 59-65 UFO (TV series) http://ufoseries.com/ 4 http://www.minnpost.com/stories/2008/06/18/2282/this_doesnt_compute_ as_more_women_enter_scientific_fields_their_numbers_in_computer_scien ce_are_declining 6 Kim Jong Il puppet, from “Team America” http://blogs.rockymountainnews.com/bridget/kimjongil.jpg