From Community to Commerce: Making the ROI Connection
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According to recent reports, just 8% of companies say they can prove ROI from their social media spending, yet 70% of marketers say they plan to increase their social media spending. CMOs are under the gun now more than ever to show how social media marketing directly impacts bottom line revenue. And while we all know that good social content marketing can foster an engaged community, how should we measure the tangible, financial benefits? What metrics should you be looking for to justify your social budget to the C-Suite? What, really, is the value of a “like?” If you are a marketer who needs help showing your CMO that an active social community actually improves commerce, this webinar is for you. Hear from our panel of experts as they discuss: How to use user-generated content to persuade and influence the purchasing decision. The best ways to quantify positive social sentiment. Which metrics matter in the connection between digital community and business bottom line. What CMOs really want to hear and the best ways to deliver those results.
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From Community to Commerce: Making the ROI Connection
- 1. From Community to Commerce: Making the ROI Connection #SMTLive
- 2. #SMTLive Thank You to Our Sponsor @Wayin
- 3. #SMTLive Join the Conversation… Follow along and share your thoughts on Twitter at #SMTLive Submit your questions in the GoToWebinar control panel
- 4. #SMTLive Our Speakers Meagan Fish is the Global Social Media Manager at iRobot, managing the company's community engagement strategy and global social platform expansion. Prior to iRobot, Meagan worked agency-side for social media clients including Dove, Heinz Ketchup and Bermuda Tourism. As a passionate digital marketer, she has spent the past decade working with brands to embrace social media in order to grow and nurture fan communities, improve customer relations, and drive qualified sales. @meaganfish Jordan Slabaugh is the VP of Marketing at Wayin. Jordan has spent the past decade building global brands. In her role as Vice President of Marketing at Wayin, Jordan leads all aspects of brand marketing, corporate communications and digital activation initiatives to further develop the Wayin brand and leadership in the marketing industry. With an extensive leadership track record in corporate marketing, brand communications and creative activation strategy, Jordan has spent her career building industry-leading marketing programs and consulting with the world’s largest brands on social and digital media. @jordanv Paul Dunay is an award-winning B2B marketing expert with more than 20 years’ success in generating demand and creating buzz for leading technology, consumer products, financial services and professional services organizations. Paul is the author of five “Dummies” books: Facebook Marketing for Dummies (Wiley 2009), Social Media and the Contact Center for Dummies (Wiley Custom Publishing 2010), Facebook Advertising for Dummies (Wiley 2010), Facebook Marketing for Dummies 2nd Edition (Wiley 2011) and Facebook Marketing for Dummies 3rd Edition (Wiley 2012). @PaulDunay Andrew Ashton leads social and CRM for Pizza Hut Canada, based in Toronto. Andrew previously led the Social Hive, Yum! Brands global social intelligence command center and managed digital marketing for BÀNH SHOP. During his time with Yum! Brands, Andrew developed daily global social reporting, managed a team of 5 analysts to provide global brands 24-hour social listening and helped Yum! Brands global digital marketing teams integrate social insights into their day-to-day activities. @AndrewLAshton
- 5. PAGE 5 92% of consumers trust other consumers in making purchasing decisions
- 6. PAGE 6 Social must be an integrated part of your marketing mix. …and not measured in different ways
- 7. PAGE 7 Traffic. Subscribers. Conversions. Revenue. Not “likes” and “engagement” What should you measure?
- 8. PAGE 8 tie fan storytelling to sales
- 9. PAGE 9 social trends turn into revenue
- 10. PAGE 10 Connect social content to commerce
- 11. #SMTLive iRobot Road to Social ROI Grow Qualified Fan Base Content Testing & Refining Engage Believers to Convert Skeptics Optimize Advertising with CRM Data Conversion Tracking & Measurement
- 12. #SMTLive Content Testing & Refining MAKE CONTENT ACTIONABLE: determine what issue(s) social content can help solve for your business • For iRobot and a developing industry product believability • Content key for organic + paid: show product working
- 13. #SMTLive Amplify Believers to Convert Skeptics INFLUENCERS: Social reach, demographic synergy, branded content must be authentic CUSTOMERS: Hyper-fans, establish ongoing UGC strategy, fan-only programs/sneak peaks
- 14. #SMTLive Connect CRM & Social CRM DATA + SOCIAL DATA = • Reduced social fan acquisition costs by 40% • Drove a significant increase to product registrations • Enabled segmented advertising for product launches to encourage upgrade messaging to pre-existing owners By merging social data into CRM we’ll be able to create more contextual and proactive customer engagements
- 15. #SMTLive Navigating Social ROI • Work back from overall goals to determine your ROI equation: – Sales (social conversions) – Brand awareness (e.g. social post impressions, traffic driven to .com) – Engagement (e.g. organic/paid engagement rates, positive sentiment, social customer service volume and reply time) • It’s a blended balance: social, CRM, website/eComm, analytics all need to be in sync to solve for social ROI
- 16. #SMTLive HOW WE CALCULATE ROI $ Daily / Window Promotions Units Sales Lift Clicks Brand Awareness Metrics Social Activations Related Units Sold Reach Traffic +/- $ Programmatic Campaigns Traffic +/- Native Pixel Analytics Clicks Community Management / Website Analytics / Social Intelligence
- 17. #SMTLive SOCIAL ADVERTISING Daily / Window Promotions Programmatic Campaigns Major national sales liftMajor regional sales lift Major increase in frequency
- 18. #SMTLive SOCIAL ACTIVATIONS ROI Minimal Investment Scrappy team Smart Influencers = 15 million + impressions 40,000 + followers 68% brand sentiment Massive website traffic increase
- 19. #SMTLive Join the Conversation… Follow along and share your thoughts on Twitter at #SMTLive Submit your questions in the GoToWebinar control panel
- 20. #SMTLive Our Speakers Meagan Fish is the Global Social Media Manager at iRobot, managing the company's community engagement strategy and global social platform expansion. Prior to iRobot, Meagan worked agency-side for social media clients including Dove, Heinz Ketchup and Bermuda Tourism. As a passionate digital marketer, she has spent the past decade working with brands to embrace social media in order to grow and nurture fan communities, improve customer relations, and drive qualified sales. @meaganfish Jordan Slabaugh is the VP of Marketing at Wayin. Jordan has spent the past decade building global brands. In her role as Vice President of Marketing at Wayin, Jordan leads all aspects of brand marketing, corporate communications and digital activation initiatives to further develop the Wayin brand and leadership in the marketing industry. With an extensive leadership track record in corporate marketing, brand communications and creative activation strategy, Jordan has spent her career building industry-leading marketing programs and consulting with the world’s largest brands on social and digital media. @jordanv Paul Dunay is an award-winning B2B marketing expert with more than 20 years’ success in generating demand and creating buzz for leading technology, consumer products, financial services and professional services organizations. Paul is the author of five “Dummies” books: Facebook Marketing for Dummies (Wiley 2009), Social Media and the Contact Center for Dummies (Wiley Custom Publishing 2010), Facebook Advertising for Dummies (Wiley 2010), Facebook Marketing for Dummies 2nd Edition (Wiley 2011) and Facebook Marketing for Dummies 3rd Edition (Wiley 2012). @PaulDunay Andrew Ashton leads social and CRM for Pizza Hut Canada, based in Toronto. Andrew previously led the Social Hive, Yum! Brands global social intelligence command center and managed digital marketing for BÀNH SHOP. During his time with Yum! Brands, Andrew developed daily global social reporting, managed a team of 5 analysts to provide global brands 24-hour social listening and helped Yum! Brands global digital marketing teams integrate social insights into their day-to-day activities. @AndrewLAshton
- 21. #SMTLive Thank You to Our Sponsor @Wayin
- 22. #SMTLive Upcoming Webinar November 12th Big Data at The Speed of Business – How Customer Service Satisfaction & Costs Are Driving the Telecom Business
Notes de l'éditeur
- It’s no secret that today’s consumers are increasingly skeptical of traditional advertising Consumers are far more likely to purchase based on word-of-mouth recommendations than marketing messages UGC is the most persuasive content How can you use user-generated content to persuade and influence the purchasing decision? How do you discover the right content or trends to tell your story? How do you drive behavior on social and off social to move marketing / commerce results?
- We’ve seen brands do this in a number of innovative ways For example - 20th Century Fox noticed early on that their fans were turning to social to express their excitement for an upcoming film The producer tapped into the power of social persuasion to drive ticket sales/revenue Injected Tweets into 200+ unique linear TV commercial spots across 8 networks Drove calls-to-action with real-time user-generated content As a result, Let’s Be Cops more than quadrupled expected revenue
- Data isn’t just helping target/direct message to a group, it becomes your message and gives you a new take on social activity that provides knowledge/piques interest of audience Data (e.g. what product is being discussed most frequently) becomes a tool website visitors can use to base their purchases on Best Buy tapped into social insights via a trending widget They saw a 24% click-through instead of regular 2-3% click-through
- Which metrics matter in the connection between digital community and business bottom line? Major ecommerce company– not measuring how many people engaged in the campaign A/B Accountability of the value of Social. Social needs to be measured against marketing not Social Measurable -- so you can evaluate your approach and change it based on measures that matter Digital -- offers a more precise breakdown of return and user behavior Social should have the same accountability Ultimately, revenue matters Increased expectations to prove how this had an impact Future: revenue and social becoming a part of the ROI equation A/B testing to show the impact of social on e-commerce purchasing decisions