social media roi

V3 Integrated Marketing

Social Media ROI

When it comes to Social Media ROI, these things are a given:

•It’s HARD to measure •It’s NOT like advertising

The REAL value of Social Media and Blogging is this: It can be used to turn your business into a magnet for attracting the kind of customers and clients you WANT to have.   

Old World Way to Reach Customers

BannerBanner WebsiteWebsite

Call Center

Call Center

Sales Rep

Sales Rep

PhonePhone

Lead GenLead Gen

Direct Mail

Direct Mail

SearchSearch

PhonePhone

Old World Way to Reach CustomersDirect Marketing = Fire Hose

New World Way to Reach Customers

enSales Rep

Sales Rep

Call CenterCall

Center

WebsiteWebsite

IP TVIP TV

Rating Sites

Rating Sites

SocialSocial

VideoVideo

TVTV

PrintPrint

E-MailE-Mail

BannerBanner

MobileMobile

BlogsBlogs

Community

Community

Organic Search

Organic Search

Lead GenLead Gen

Direct mail

Direct mail

Paid SearchPaid

Search

Widgets

Widgets

New World Way to Reach CustomersBrand Marketing = Envelope them in a Fog

Inbound Marketing

Inbound Marketing is More Effective

Source: State of Inbound Marketing Report - http://bit.ly/aewfHr

How Does This Impact Your Business?

Social Media is for Leads and Sales

Source: State of Inbound Marketing Report - http://bit.ly/aewfHr

74%  

 Percentage of small business owners that say social media helps them close business.  Source: Inc Magazine - http://bit.ly/amD4kP

Companies with more indexed pages on Google, Yahoo and Bing generate more sales leads. Every 50 to 100 incremental indexed pages can mean double-digit lead growth.

Growth in new leads accelerates significantly once websites achieve 300+ pages indexed by Google.

More Indexed Pages = $

Leads by Indexed Web Pages

Source: State of Inbound Marketing Lead Generation Report - http://bit.ly/cVMpkn

67%  

 Increase in monthly sales leads for companies that blog over companies that don't blog. Source: Data from over 1,500 small businesses - http://bit.ly/XDkQV

434%  

 Increase in website pages indexed by Google for companies that blog over companies that don't blog. Source: Data from over 1,500 small businesses - http://bit.ly/XDkQV

97%of Consumers are searching online

for products and services. Their behavior has changed. Have your

marketing tactics changed with them?

Apples aren’t Oranges

You CAN’T

measure Social Media like a

Traditional Channel. So

don’t try to make an Apple out of

an Orange

Don’t Despair, (hang on)

Before ROI, you get this:

• Increase in site traffic

• Increase in time spent on site

• Views of a specific landing page, blog post or offer

• Increased follower/like/friend base

• Increase in Share of Voice

• Increase in Positive Sentiment

PATIENCE is a Virtue

Because, what you GET is this:

• Increased revenue

• More leads

• Shorter sales cycles

• Lower customer acquisition costs

• Lower customer service costs

• Lower customer retention costs

(WooHoo – Boss is Happy!) (Priceless)

Says WHO?

Gary VaynerchuckTook family wine business from $4M to $50M

via social media

He found that spending:

$15K on direct mail netted 200 new customers

$7500K on billboards netted 300 new customers

$0 on social media (other than time) netted 1800 new customers

Source: Erik Qualman, Socialnomics

Says WHO?

Moonfruit – A Web Hosting Firm

Invested $15K in social media

Web traffic up 300%

Sales up 20%

Source: Erik Qualman, Socialnomics

Says WHO?

FORD

25% of Ford’s ENTIRE marketing spend

is on social media

(Pssst: Think there’s a reason for that?)

Source: Erik Qualman, Socialnomics

Says WHO?

Genius.com (software company)

24% of their LEADS convert

to SALES opportunities

Source: Erik Qualman, Socialnomics

Says WHO?

Susan G Komen Foundation

@TweetsForACause, headquartered in Atlanta, sent out a tweet to encourage SUPPORT of their annual

Komen event. The “Twitter family” and their ability to raise awareness from all over the world – resulted in 11,000 visitors to the Atlanta chapter’s

site in 24 hours

Source: Erik Qualman, Socialnomics

Back to the Tricky Question – That Pesky ROI

The Key is BENEFITS

Short vs. Long

Financial vs. Non-Financial

Create a SCORECARD

• Financial: Has Revenue/Profit increased? Have Costs decreased?

• Brand: Have consumer attitudes about the brand improved?

• Risk Management: Better prepared to find/respond?

• Digital: Has the company enhanced its assets?

If You’re Not Measuring

You’re not MARKETING

Start with a STRATEGY

Measure. Test. Test. Measure again.

Test some more.

Measure again.

Adapt. Change. Watch. Listen.

Adapt some more.

Your Scorecard

Source, Augie Ray, Forrester Genius, http://www.experiencetheblog.com

And Remember, It All Starts Here - With Your Website

It Starts Here

V3 Integrated Marketing

Vision + Voice + Valuehttp://v3im.com

This work is the unwed brainchild of @shellykramer + @michellelamar