Download - 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