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How to Make Money
 with Social Media
                   Jamie Turner
 Co-author, “How to Make Money with Social Media”
  Chief Content Officer, BKV’s 60 Second Marketer
Hash Tag: #SocialROI
Let’s Kick Things Off
Introductions: Jamie Turner
•   Co-author of How to Make Money
    with Social Media available at fine
    bookstores (and a few crappy ones,
    too)
•   Worked with AT&T, CNN, The Coca-
    Cola Company, Cartoon Network
    and other major brands
•   Chief Content Officer of BKV’s 60
    Second Marketer
•   Regular contributor on Mashable
Hash Tag: #SocialROI
Why People Buy Stuff
Why People Buy Stuff
How People Buy Stuff
    Female Brain       Male Brain
How the Fortune 500 Make Money with
Social Media
Social Media Business Models
Branding: Use social media as a branding tool to build awareness and
connect with customers
Social Media Business Models
E-Commerce: Drive prospects to an e-commerce landing page and convert
those prospects to customers
Social Media Business Models
Research: Use social media as a research tool to generate customer input
and feedback
Social Media Business Models
Customer Retention: Use social media as a customer retention tool to reduce
churn
Social Media Business Models
 Lead Generation: Drive leads to a website and re-market to those leads,
 ultimately converting them to customers

             E-Newsletter    YouTube Channel
                                                   Email Marketing



   Forums                                                        Speeches



                            Your Company
                                                                  Live Events
   Twitter



      eBooks                                               Virtual Events


             Mobile Apps                         Blog Postings
                                Webinars
The Social Media ROI Cycle
The Social Media ROI Cycle

                                                                      The 3 Stages of the Social Media
                                                                      ROI Cycle
                                                                      Setting up, running and optimizing an
                                                                      effective social media campaign
                              1
                                                                      happens in three stages:
                                                                      •Stage 1: Launch
                              2                                       •Stage 2: Management
                                                                      •Stage 3: Optimization

                              3




Source: Jamie Turner, co-author of How to Make Money with Social Media and Chief Content Office of BKVʼs 60 Second Marketer
The Social Media ROI Cycle
                                                                                   Launching the
                                                                                       Big 4




                                                                      Stage 1: Launch
                              1                                       •Approach: Executional
                                                                      •Focus: Short-Term
                              2                                       •Objective: To Have a Social Media Presence
                                                                      •Results: Negligible

                              3




Source: Jamie Turner, co-author of How to Make Money with Social Media and Chief Content Office of BKVʼs 60 Second Marketer
The Social Media ROI Cycle
                                                                                          Qual.


                                                                                 Quant.
                                                                                                    Big 4 plus
                                                                                                      More
                                                                                 Creative




                                                                                              New initiatives
                              1


                              2
                                                                     Stage 2: Management
                                                                     •Approach: Tactical
                                                                     •Focus: Mid-Term
                                                                     •Objective: Customer Engagement
                              3
                                                                     •Results: Increased Traffic




Source: Jamie Turner, co-author of How to Make Money with Social Media and Chief Content Office of BKVʼs 60 Second Marketer
The Social Media ROI Cycle
                                                                           Stage 3: Optimization
                                                                           •Approach: Strategic
                                                                           •Focus: Long-Term
                                                                           •Objective: Social Media ROI
                                                                           •Results: Revenue Growth

                              1


                              2
                                                                             ROI          Big 4 plus
                                                                                            More

                              3                                       Conversion/
                                                                      Optimization             Creative

                                                                                            Quant.
                                                                                    Qual.

                                                                                       New initiatives


Source: Jamie Turner, co-author of How to Make Money with Social Media and Chief Content Office of BKVʼs 60 Second Marketer
Where is Your Company?

Stage 1: Launch
Stage 2: Management
Stage 3: Optimization
How to Measure the ROI of a
Social Media Campaign
Calculating Customer Lifetime Value

The revenue generated by a customer
during his or her lifetime with your brand.


CLV for Scott’s Lawn Care:
$80 per month x 12 months x 3.0 years
CLV = $2,880


Allowable Cost Per Sale:
$2,880 x 10% = $288
Calculating Customer Lifetime Value

Scott’s Direct Mail:
200 pieces x 0.5% = 1 new customer
$1.44 per piece x 200 = $288
Allowable Cost Per Sale = $288
1 customer for every $288 spent


Scott’s Annual Direct Mail Spend:
$2.8 million = 2 million pieces x 0.5% =
10,000 new customers per year
Calculating Customer Lifetime Value
Testing Direct Mail vs. Social Media
$2.8 million x 10% = $280,000 to test a social media
campaign

Social media campaign costs:
Labor:         $140,000
Production:    $100,000
Miscellaneous: $ 40,000
Total:        $ 280,000

Social media success:
$280,000 spent in direct mail = 1,000 new customers
$280,000 spent in social media = ?
What’s Next?
To Learn More, Google “Jamie Turner”
How to Make Money with
Social Media now available
at fine bookstores (and a
few crappy ones, too).

Follow me here:
60SecondMarketer.com/blog
@60SecondTweets


Contact me:
Jamie.Turner@60SecondMarketer.com

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SXSW Jamie Turner on Social Media ROI

  • 1. How to Make Money with Social Media Jamie Turner Co-author, “How to Make Money with Social Media” Chief Content Officer, BKV’s 60 Second Marketer
  • 4. Introductions: Jamie Turner • Co-author of How to Make Money with Social Media available at fine bookstores (and a few crappy ones, too) • Worked with AT&T, CNN, The Coca- Cola Company, Cartoon Network and other major brands • Chief Content Officer of BKV’s 60 Second Marketer • Regular contributor on Mashable
  • 8. How People Buy Stuff Female Brain Male Brain
  • 9. How the Fortune 500 Make Money with Social Media
  • 10. Social Media Business Models Branding: Use social media as a branding tool to build awareness and connect with customers
  • 11. Social Media Business Models E-Commerce: Drive prospects to an e-commerce landing page and convert those prospects to customers
  • 12. Social Media Business Models Research: Use social media as a research tool to generate customer input and feedback
  • 13. Social Media Business Models Customer Retention: Use social media as a customer retention tool to reduce churn
  • 14. Social Media Business Models Lead Generation: Drive leads to a website and re-market to those leads, ultimately converting them to customers E-Newsletter YouTube Channel Email Marketing Forums Speeches Your Company Live Events Twitter eBooks Virtual Events Mobile Apps Blog Postings Webinars
  • 15. The Social Media ROI Cycle
  • 16. The Social Media ROI Cycle The 3 Stages of the Social Media ROI Cycle Setting up, running and optimizing an effective social media campaign 1 happens in three stages: •Stage 1: Launch 2 •Stage 2: Management •Stage 3: Optimization 3 Source: Jamie Turner, co-author of How to Make Money with Social Media and Chief Content Office of BKVʼs 60 Second Marketer
  • 17. The Social Media ROI Cycle Launching the Big 4 Stage 1: Launch 1 •Approach: Executional •Focus: Short-Term 2 •Objective: To Have a Social Media Presence •Results: Negligible 3 Source: Jamie Turner, co-author of How to Make Money with Social Media and Chief Content Office of BKVʼs 60 Second Marketer
  • 18. The Social Media ROI Cycle Qual. Quant. Big 4 plus More Creative New initiatives 1 2 Stage 2: Management •Approach: Tactical •Focus: Mid-Term •Objective: Customer Engagement 3 •Results: Increased Traffic Source: Jamie Turner, co-author of How to Make Money with Social Media and Chief Content Office of BKVʼs 60 Second Marketer
  • 19. The Social Media ROI Cycle Stage 3: Optimization •Approach: Strategic •Focus: Long-Term •Objective: Social Media ROI •Results: Revenue Growth 1 2 ROI Big 4 plus More 3 Conversion/ Optimization Creative Quant. Qual. New initiatives Source: Jamie Turner, co-author of How to Make Money with Social Media and Chief Content Office of BKVʼs 60 Second Marketer
  • 20. Where is Your Company? Stage 1: Launch Stage 2: Management Stage 3: Optimization
  • 21. How to Measure the ROI of a Social Media Campaign
  • 22. Calculating Customer Lifetime Value The revenue generated by a customer during his or her lifetime with your brand. CLV for Scott’s Lawn Care: $80 per month x 12 months x 3.0 years CLV = $2,880 Allowable Cost Per Sale: $2,880 x 10% = $288
  • 23. Calculating Customer Lifetime Value Scott’s Direct Mail: 200 pieces x 0.5% = 1 new customer $1.44 per piece x 200 = $288 Allowable Cost Per Sale = $288 1 customer for every $288 spent Scott’s Annual Direct Mail Spend: $2.8 million = 2 million pieces x 0.5% = 10,000 new customers per year
  • 24. Calculating Customer Lifetime Value Testing Direct Mail vs. Social Media $2.8 million x 10% = $280,000 to test a social media campaign Social media campaign costs: Labor: $140,000 Production: $100,000 Miscellaneous: $ 40,000 Total: $ 280,000 Social media success: $280,000 spent in direct mail = 1,000 new customers $280,000 spent in social media = ?
  • 26. To Learn More, Google “Jamie Turner” How to Make Money with Social Media now available at fine bookstores (and a few crappy ones, too). Follow me here: 60SecondMarketer.com/blog @60SecondTweets Contact me: Jamie.Turner@60SecondMarketer.com