increasing your roi using social media - merging media access 360
TRANSCRIPT
“INCREASE YOUR ROI USING
SOCIAL MEDIA + GAMIFICATION”
FEATURING ROCHELLE GRAYSON +SCOTT DODSON
PRESENTED BY
Who is Rochelle?
[email protected] | @RochelleGrayson
Introduction to Basic Social Media Monetization Concepts
Marketplace
Types of Markets
One Party Another PartyMarketplace
Something
$$$$
Primary: Vendor Customers/Partners
Secondary: Peer Peer
Tertiary: Customers/Users Vendors
Scarcity
The Elusive “ROI”
How to Calculate ROI
Investment$$
Results(Measured Activities)
Returns - $$(incl. Cost Savings)
ROI = (Returns – Investment) Investment
How Much Does Social Media Cost?
Conversion Funnel(Or, Sales Funnel)(Or, Decision Tree)
(Or, Engagement Funnel)
Micro/Assisted
Macro/Last
Co
nver sio
ns
Val
ue
($)
Lower
Higher
The Visitors
Quantity or Qualityof Comments
Donations
Virtual Goods
Sales
Conversation# of Audience Comments (or Replies) Per Post
Amplification• # of Retweets Per Tweet• # of Shares Per Post• # of Share Clicks Per Post (or Video)
Applause!!# of Favorite Clicks per Post or Video
# of Likes per Post or Video# of +1s per Post or Video
Economic ValueSum of Short and Long Term Revenue and Cost Savings
Define Your Success
Participation Pyramid
90%Audience
(Passive)
9%Editors
1% Creators
95-5 Community Rule
Money
What Do People Pay For?
Time
Convenience
Immediacy
Comfort
Ads
Self - Esteem
Relationships
Belonging
Access
Scarcity
Health & Wellbeing
Wealth
Entertainment
Creative Learning
Instructions
Questions to Ask
• Can people:– Do something more quickly
– Get something more quickly
– Access something scarce
• Do we provide something sought-after to a select number of people?
• Would people still use us if we purposefully added occasional annoyances?
• Do we offer a a superior user experience?
Questions to Ask
• Do we make people feel better about themselves or their image?
• Can people form or retain meaningful relationships with others?
• Do we improve the health or physical safety of people?
• Do we give people the opportunity to make or save money?
• Do we improve people's career prospects?
Questions to Ask
• Do we provide a service that people need to perform their job? Or, perform their job better?
• Do we improve the perceived status of people?
• Do we provide valuable entertainment for people?
• Do we allow people to experience something emotional?
• Do we allow people to express their creativity?
• Do we provide people with relevant knowledge or information?
Q & ADiscussion
Paranormal Activity Film● Production budget of $10,000● Got horror fans in front of of the film and taped their reactions. The resulting videos went viral!● Paramount quoted horror movie fans for review blurbs rather than professional critics.● Flooded college campuses with messages● Limited release at unusual places — 13 theaters on or near college campuses● Let fans decide where the film would roll out next to prove their interest in seeing the film● The film never had a premiere. However, after the consumer generated marketing campaign, the studio held celebratory premiere parties for the areas that demanded the film most.● Allowed ~150,000 fans who had worked to promote the film to add their names to the film's credits.● Film grossed over $107,000,000 at the box office and an additional $16,000,000 on DVD.
Rogers has changed its promoted tweet in response to the negative backlash from consumers:
We’re on Twitter to listen & help. We’re hearing you loud & clear today. You can reach us @RogersHelps #Rogers1Number
Calculate!
Answers
Economic Value
How Would You Calculate ROI?Paramount Pictures:#Super8Secret Promoted Trend created a tremendous spike in conversations: ● Tweets of the hashtag reached 9 million impressions in 24 hours ● 20,000 Mentions of the movie skyrocketed to 150 per minute● Receipts for the sneak preview exceeded $1 million● Paramount said opening weekend box office surpassed expectations by 52% ($35,451,168)
● ROI Calculation:● Promoted Trend: $120K/day● 9 million Impressions = 9,000 * CPM ($0.10) = $900● 20,000 Mentions = 20,000 * 2 = $40,000● Sneak Preview Revenues = $1 million
ROI = ($1,000,000 + $40,000 + $900 - $120,000) / $120,000 = 7.67