This is a lecture I gave at a social media marketing class at St. Edwards University. The presentation shares some context on the evolving marketing landscape, and how social media data and analytics can be used for both planning as well as measuring and optimizing ROI.
4. WE NOW LIVE IN THE AGE OF RELEVANCE
4
COMPLEXITY
Complexity &
Influence of
Stakeholder
Ecosystem
Radio Broadcast TV
24 Hour
News
Internet
Social
Web
1990s 2000s1980s1950s1920s
CONTROL
Company/
Brand Control
of Message “If the rate of change on the outside exceeds the
rate of change on the inside, the end is near.”
― Jack Welch
These brands
had great
reputations!
These brands
have terrible
reputations!
5. HOW CONTENT EVOLVED ONLINE
5
Content moved from long-form copy to short-
form, visual mix of original and curated
6. WHAT DRIVES CONTENT CONSUMPTION
6
QUALITY
What drives publisher stickiness
FRESH RELEVANTTRUSTED AUTHENTIC
UNIQUE
VALUED
ORIGINAL
CONTENT
1 “Content: What Drives Consumption? – AOL, 2010
7. WHAT DRIVES CONTENT SHARING
7
RELATIONSHIPSSELF-IMAGE
SELF-
FULFILLMENT
ENTERTAINMENT ADVOCACY
To grow and nourish
our relationships
To define ourselves to
others
To bring valuable &
entertaining content
to others
To add value to their
relationships
To get the word out
about causes or
brands
Motivators for sharing
*”Psychology of Sharing” – NYT, 2011
8. MEDIA IS NOW SYNDICATED
8
“Huffington Post and Flipboard often get more traffic from Times journalism than we do.”
– Jill Abramson, former Executive Director, New York Times, 2014
11. 2/3 OF DIGITAL UNIVERSE IS CONTENT CREATED BY
CONSUMERS
11
12. STORYTELLING: THE SCIENCE BEHIND THE ART
• Neuroeconomist, Paul Zak’s research
discovered “The Moral Molecule”, and
that
• Storytelling enables us to direct human
behavior by changing brain chemistry
through well-structured narratives
Tension synthesizes Cortisol
(focuses our attention)
+
Narrative synthesizes Oxytocin
(sense of empathy)
12
Act 3
CLIMAX
(turning point)
Act 2
COMPLICATION
(rising action)
Act 1
EXPOSITION
(inciting moment)
Act 4
REVERSAL
(falling action)
Act 5
DENOUEMENT
(moment of release)
FREYTAG’S PYRAMID
A simple storytelling structure that has worked for thousands of years
13. AUDIENCE DEVELOPMENT
Treat each story like its own product by developing an ecosystem to amplify the
story’s reach and engagement and to maximize its success. This process
includes three steps that guide us in creating multiple “waves” of amplification
for each story.
13
How we package and distribute
the story
-------------------------------------------------
Formats
+
Channels
How we call attention
to the story
-------------------------------------------------
Influencers
+
Paid Targeting
How we create a two-way
relationship
-------------------------------------------------
Monitor & Respond
+
Surprise & Delight
2 31DISCOVERY PROMOTION CONNECTION
15. FROM ACCOUNT PLANNING TO AUDIENCE PLANNING
15
Finds…
• Segmentation
• Media Consumption
• Consumer Preference
• Group Opinion
weeks — months
Finds…
• Audiences (Tribes)
• Engagement Behavior
• Affinities
• Sentiment & Reviews
days — weeksspeed to insight
Planning 1.0
PowellRule:
40<>70
Social
Quantitative
Qualitative
Qualitative
Quantitative
Social
resources Planning 2.0
resources
16. THE ABC’S OF BRAND PLANNING
16
Audience
Truth
Category
Truth
Brand
Truth
Opportunity
Positioning Tagline/Campaign & Messaging
Activation Content Experiences
Media Earned Owned Paid
Brand Space Context & Opportunity
19. AND, HOW THEY ENGAGE IN RELEVANT TOPICS
19
Global Growth Outlook
Economic crises
Economic Growth
Indicators
Community Development
Renewable
Energy
Investment
Small Business
Development, Women
and Minority-owned
business
Mobile Payments
Affordable Housing
Financial Literacy
Energy
Efficiency
Investment
Mobile Banking
Payments Innovation
Education & Economic Growth
Home Ownership Programs
Youth Inclusion Programs
Women in Business
Leadership
Urban Transformation
20. UNDERSTAND WHO INFLUENCES THEM
20
BIO
Ylan Q. Mui is a reporter with the
Washington Post and a CNBC
contributor where she covers the
Federal Reserve and the economy,
including topics such as subprime
lending, consumer finance and
retail.
RELEVANT QUOTES
“The implosion of the subprime
lending market has left a scar on
the finances of black Americans –
one that not only has wiped out a
generation of economic progress
but could leave them at a financial
disadvantage for decades.”
“After years of bold action following
the global financial crisis, the
world’s central bankers are ready
to pass the baton. The
consensus… was that the power of
monetary policy to drive global
growth is nearing its limit.”
RELEVENT
ARTICLES
“For Black Americans,
Financial Damage
From Subprime
Implosion is Likely To
Last”
“Central Banks To
Lawmakers: You Try
Growing The
Economy”
“Janet Yellen defends
Federal Reserve
Politics Before Senate
Banking Panel”
@ylanmui
13K followers
462+ Connections
25 followers
4%
15% 15%
2%
65%
Financial Institutions Financial Crisis
TBTF Legislature
Stakeholders
21. AND, WHO INFLUENCES THOSE INFLUENCERS
21
160/1188 258/88372
WHOINFLUENCESTHEINFLUENCER?
Name / Outlet
Rank Score
Name / Outlet
Rank Score
Name / Outlet
Rank Score
Name / Outlet
Rank Score
WHODOESTHEINFLUENCERINFLUENCETHEMOST?
Name / Outlet
Rank Score
Name / Outlet
Rank Score
Name / Outlet
Rank Score
Name / Outlet
Rank Score
24. ARISTOTLE AND THE SECOND ROAD OF THOUGHT
24
ANALYTICS
“Where things cannot
be other than they are.”
Diagnoses the past
LOGIC
25. ARISTOTLE AND THE SECOND ROAD OF THOUGHT
25
ANALYTICS
“Where things cannot
be other than they are.”
Diagnoses the past
LOGIC
RHETORIC
“Where things can
be other than they are.”
Designs the future
INTUITION
26. S-CURVES OF INTUITIVE LEAPS AND INNOVATION
26
1ST: The ‘Industrial Revolution’ | Big Bang Moment: Arkwright’s mill opens in Cromford – 1771
2ND: Age of Steam & Railways | Big Bang Moment: Test of the ‘Rocket’ steam engine for the
Liverpool-Manchester railway – 1829
3RD: Age of Steal, Electricity & Heavy Engineering | Big Bang Moment: The
Carnegie Bessemer steel plant opens in Pittsburgh, PA – 1875
4TH: Age of Oil, the Automobile & Mass Production | Big Bang
Moment: First Model-T comes out of the Ford plant in Detroit, MI –
1908
5TH: Age of Information & Telecommunications |
Big Bang Moment: The Intel microprocessor is
announced in Santa Clara, CA – 1971
6TH: Age of ? | Big Bang
Moment: TBD – 2021
27. THE INTUITIVE LEAP OF FAITH
27
Incremental
Discontinuous
Intuitive Leap
P = 40<>70
39. AND, PEOPLE ENGAGED
In first 18 months…
• 600 influencers from 31 countries
• Reached 469 million consumers
globally
• Achieved 23 million consumer
social interactions
• Facebook fan base grew by 2.2
million people
• Instagram followers grew by 1.8
million people
• Twitter followers grew by 1 million
people
39
41. LOOK AT MEASUREMENT IN TWO KEY AREAS
41
MARKETING METRICS
Deep analysis of channels
and tactics to understand
effectiveness and identify
opportunities to optimize
BUSINESS METRICS
Measurement of core
business goals and
achievement of business
objectives including sales
42. MEASUREMENT VIA OWNED, PAID, EARNED FUNNEL
42
OWNED
PAID
EARNED
CHANNEL
• Unique open rate
• Unique CTR
• Referrals to .com
• Unique visitors
• Time on site
• CTAs taken
• Engagements
• Referrals to .com
Email
SEO
.com
Social
• Unique open rate
• Unique CTR
• CPM, CPE, CPL
• PPC
• CTAs to LPs
• CPL
• CPM, CPC, CPE, CPL
• CPA, CPE, CPL
Email
Search
Display/Rich Media
Social
• Coverage
• Impressions
• SOV
Influencers/Trades/Media
CHANNEL KPIs SALES
VOLUME
REVENUE
SPEND • Media Only
• Media + Fee
• Media Only
• Media + Fee
TRAFFIC
# visitors # leads
• Media Only
• Media + Fee
• Media Only
• Media + Fee
# products sold
LEADS
$ revenue
43. REAL EXAMPLE
43
20%
30%
est.
PatientTraffic Leads Referrals
.COM1
2
3
800-LAPBAND
Surgeon Co-op
4
Referring
Physician &
Surgeon Practices
7,881
Calls thru May
237,643
Visits thru
May
1,647 to
2,745
Est. thru May
2,861
Reported thru
May
7.5%
15%
est.
32
%
49,439
5,464
1,647
to
2,745
2,861
1,771
21
%
69
%
250,032 – 251,130
Total with est.
54,903
total
9,987 – 14,793
Total with est.
7.5% to 15%
1,997 – 4,438
Total with est.
20% to 30%
Media Only $1,790,933 $32.62 $121.07 to $179.33 $403.55 to $896.63
$5.8mm to $12.9mm
Potential Revenue Impact
Television
($550,780)
Co-op Advertising
(Print/Outdoor
$745,000)
Social Media & PR
($27,600)
Interactive
(Banners $0)
(Search $347,013)
Collateral
($58,280)
Website
(SEO $0)
(Main. $9,799)
Strategy
($24,698)
Agency Mgmt.
($51,714)
Call Center
($148,140)
3,708
to
7,416
1,997
to
4,438
3%
5%
est.
44. REAL EXAMPLE
44
All Target Teens
97MM
total reach
4.85MM
“daily” reach
Paid
Social 35MM
impressions
1.14MM
engagements
CK
‘Cool Kids’
(~60k)
Package and Amplify
Drive incremental reach and frequency
using highly-targeted paid social to
keep BRAND top of mind with “Cool Kids”
Digital
advertising
Custom
Content
Influencer
activations
Media
Coverage
Events
246MM
impressions
5MM
video views
76MM
impressions
100MM
impressions
1MM+
impressions
Media Awareness Metric
twistASM
ASM&
twisttwisttwist
twist
twist
45. HOW THE COOL KIDS CONTRIBUTE TO 1 MILLION UNITS
45
All Target Teens
97MM
total reach
4.85MM
“daily” reach
Media Awareness Metric
Paid
Social 35MM
impressions
1.14MM
engagements
CK
‘Cool Kids’
(~60k)
Package and Amplify
Drive incremental reach and frequency
using highly-targeted paid social to
keep BRAND top of mind with “Cool Kids”
Assumptions
25% of Cool Kids
try Benzac
AND
Exposed Benzac to
their friends and
followers
AND
2% of these friends
tried Benzac too
=
309,000 units
+
14.7MM viral
impressions
Cool Kids
WOM
influences our
target teens
too
Digital
advertising
Custom
Content
Influencer
activations
Media
Coverage
Events
246MM
impressions
5MM
video views
76MM
impressions
100MM
impressions
1MM+
impressions
twistASM
ASM&
twist
46. REAL EXAMPLE
46
Engagement rates based on the audience size, industry benchmarks, 2015 Brand data, and 2016 Brand activities.
Engagement Rate Feb. Mar. April May June July Aug. Sept.
Facebook 3.33% 3.83% 3.83% 3.63% 3.33% 3.33% 3.83% 3.13%
Twitter 1.69% 2.39% 2.39% 2.19% 1.89% 2.19% 2.39% 2.19%
Instagram 1.95% 2.65% 2.65% 2.45% 2.30% 2.45% 2.45% 2.30%
Cool Kids represent a unique social (online and offline) amplifier group of teens within our target demographic.
These teens have large, active personal networks and are being leveraged to create the BRAND groundswell needed
to reach our 2016 goals.
Engagement rate is the core KPI – the signal of our success in connecting with the Cool Kids.
The engagement rate tells us whether Cool Kids are responding to the brand & content, and as a result, are
more likely to try and recommend Benzac. Through paid social media, we will package, amplify, and deliver content
from the broader plan plus unique, analytics-informed creative.
Equates to 35MM impressions and 1.14MM engagements
https://www.youtube.com/watch?v=q1a7tiA1Qzo
Through his research, neuroeconomist, Paul Zak, discovered what he dubs “The Moral Molecule”
Oxytocin is a neurochemical that is key to signaling trust and invoking a sense of empathy
Produced when we are trusted or shown a kindness
Motivates cooperation with others by
Enhancing the sense of empathy – our ability to experience others’ emotions
Research found that character-driven stories consistently cause oxytocin synthesis, and
The amount of oxytocin released by the brain predicted how much people were willing to help others (e.g. donating money to a charity associated with the narrative)
So, is it any wonder why the Ice Bucket Challenge went viral?
Research found that
In order to motivate a desire to help others, a story must first sustain attention – an increasingly scarce resource in the brain – by developing tension during the narrative
If that tension resonates strongly enough with the audience, then they will come to share the emotions of the characters in the story, and, after the story ends, likely to continue mimicking the feelings and behaviors of those characters
This explains your feelings of dominance after you watch James Bond save the world, or your desire to work out after watching the Spartans fight in the movie 300
Business implications
Enables better recall of key points in a presentation or speech
People are substantially more motivated by their organization’s transcendent purpose (how it improves lives) than by its transactional purpose (how it sells goods and services)
The former is effectively communicated through stories
Sources
“Why Your Brain Loves Good Storytelling” – written by Paul J. Zak, published by Harvard Business Review (October, 28, 2014) http://bit.ly/1yso8wD
That means we’re somewhere in between a Golden Age and political unrest
We experienced the financial bubble for the good part of the 1990s and early 2000s, and the collapse in 2008
Now we’re living in an economy that is taking full advantage of innovations in cloud computing, social technologies and mobile devices
These innovations have led to the collaborative economy, the democratization of content publishing and citizen reporters that can create movements for or against brands – or even governments – by identifying a cause, a purpose, that resonates with a community of people and exploiting it
Perhaps even more thought provoking is to think about what the next revolution might bring
Sources
“Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages” – written by Carlotta Perez, published by Edward Elgar Publishing Limited, 2002 (Chapter 2, page 11)
First eighteen months of the campaign, nearly 600 influencers from 31 countries reached over 469 million consumers, globally, and achieved some 23 million consumer social interactions. Calvin Klein’s audiences on social channels grew too: its Facebook fan base grew by 2.2 million people, Instagram by 1.8 million and Twitter by 1 million. A quick hashtag search on Instagram shows that over 400,000 images have been contributed by audiences to the #MyCalvins program.
Cool Kids reach = all Cool Kids x total followers
Brand ambassadors reach = assumes 5 ambassadors x avg social followership (7.9MM)
Estimated Paid Social Impressions based on 2016 budget and paid social plan