Download - EventTech Social Currency Jenn Maffeo
SOCIAL CURRENCY:How to Assess the Value of Social Posts
Social Currency: How to Assess the Value of Social Posts
Session Hashtag: #ValueofSM
Tuesday, November 4th
5:15 – 5:45 PM
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This year,
Mobile Devices will outnumber humans.(mashable)
A World Gone MobileSocial Media is accessible 24/7, across the world-
The averagesmartphone userchecks their phone
150x per day(mashable)
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Society Shifts to SocialPeople rely on networks, not ads -
84% trust recommendations over other forms of marketing
81% influenced to purchase from friends social posts
71% more likely to purchase based on social referral
49% say their friends are their top sources of brand awareness
(Neilsen 2013)
(MarketForce)
(Hubspot)
(Jack Morton)
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Budget Shifts to SocialMarketing Budget Sources For Twitter(Adage)
NEW SPENDING
58.6% EMAIL
12.3%
7.5%ONLINE LEAD GENERATION
ONLINE DISPLAY
16.6%
5.1%ONLINE CLASSIFIEDS
OFFLINE PRINT/RADIO
OUTDOOR
17.6%
TV
9.9%
SEARCH
10.8%
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Earned Media ValueHow to compare platforms and posts?
Average valuations from over 20 sources:
(SocialChorus)
Bottom line: Engagement triumphs over likes and follows.
$853.00 - Blog Posts$10.17 - Facebook Shares$5.00 - Twitter Mentions & Retweets$2.25 - Twitter Followers$1.60 - Facebook Likes$0.38 - YouTube Views
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L / UpM x (LpD x 30) x (C/L) x CR x ACV = Value of a Like(Hubspot)
L= Likes (Audience)UpM= Unlikes per Month (Audience depletion)LpD= Links per Day (Posts published per day)C = Average Clicks (on posting site or social platform)CR = Conversion Rate (How often posts translate into leads)ACV = Average Conversion Value (Depends on your offering)
174 Likes/1UpM x (1.5LpD x 30) x 1/174 x .8% x $100 = $.02(Lynton Web)
Impact Media Value
How to value posts and incentivize accordingly:• Volume of Mentions• Sentiment Polarity• Authority of Source / Source exposure weighting• Earned media value of $5 CPM as a benchmark
Opportunities emerging already:• Popular Pays (Instagram accounts with 500+ followers can get rewards)
• Klout perks• General Sentiment (Media Matching)
• Izea – Celebrity Social Media Sponsorships
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Social ROI Methodology Celebrities
Bloggers
Fans
Friends
MoreReach
More Influence
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42
48
48
68
69
84
0 10 20 30 40 50 60 70 80 90
Online Banner Ads
Ads in Search Engine Results
Ads on Social Networks
Consumer Opinions Online
Branded Websites
Recommendations from people I know
Consumer Trust in Advertising (Neilsen 2013)
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Peer-To-PeerEngagement
Consumer Stories
on Steroids
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Engage The Storyteller
Incentives &Gamification
30% boost in social value
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• Identify key influencers
• Incentivize brand advocates
• Understand social ROI
• Justify social media spending
• Generate new revenue streams
Benefits of Social Valuation:
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Hey @Crowdster – What is the value of my post? #eventtechlive
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