searchlove boston 2015 | jeremy goldman, 'why social media and return on investment do go hand...

FIREBRANDGROUP @JEREMARKETER

Why Social Media and ROI Do Go Hand in Hand30 April 2015

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People Knocking Social Media & ROI

• “I just don’t see any sales from it.” • “I’d rather be spending my budget on

things I can quantify.” • “Social media gives no return on

investment. It’s like flushing money down the toilet.”

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Nothing can guarantee you a strong ROI.

That includes social media.

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But, it can have a strong ROI• InContact increased revenue per sale by

122% • IBM saw a 400% increase in sales • AT&T was awarded $47 million in new

business • Hesselson's saw 1,100% ROI increase

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“So, why doesn’t it work for me?”

• Poor planning • No KPIs • The wrong KPIs • “Hey, me too!” campaigns • Not doing the math

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You can estimate the ROI on anything if you’re willing to put

in the time.

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What We’ll Cover• The Firebrand Group Process • Metrics • Tying Engagement to Success • Content & Platforms

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Part 1Process

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Want success?

KPIs need to be aligned and

You need a process.

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FIREBRANDGROUP @JEREMARKETER 10


Identify Mission

Clarify Objectiv

es

Determine

Demographics

Actualize Personas

Engage in Broad

Competitive

Analysis

Create an

Everlasting Brand

The process: MOD ACE

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Identify MissionWhat & Why

Concrete and ”Action-oriented"

• Concise • Outcome-oriented • Inclusive

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Clarify ObjectivesMission Statements are great but can at times be somewhat lofty. We take a mission and break it down into its core components.

What will help us support our mission?

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Determine Demographic Profiles

Geographic Region

Size of metropolitan area

Population density

Climate

Demographic Age Gender Family size Generation Occupation Education Ethnicity Nationality Religion Social class

Psychographic Activities Interests Opinions Attitudes Values

Behavioristic Benefits sought Usage rate Brand loyalty Readiness to buy Occasions: types of holidays and events that stimulate purchases

How do we define the customer? With so many potential attributes to ascribe to our audience, we delve into geographic, demographic, psychographic, and behavioristic attributes in order to develop a sense we are looking to acquire – and keep.

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Actualize Personas

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Engage in Broad Competitive AnalysisAt Firebrand, we don’t just focus on the most obvious competition – companies you’re directly competing against from a sales perspective. We’re also interested in those competing with you for attention.

What inspires your customers? Where do they spend their time, online and off? These are the types of brands we consider more broadly when developing a competitive set to benchmark against.

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Create an Everlasting Brand • Craft a brand with a story and purpose that resonate with

your audience• Offer something more than just product and value• Make customers part of a unique story

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Part 2METRICS & REVIEW

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KPIs• Measurable values that demonstrate how

effectively a company is achieving key business objectives

• Only as valuable as the action they inspire • Don’t blindly adopt them • KPIs are a form of communication

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CLARIFY THIS.


KPIs vs. Metrics• A metric is something that is quantifiable • A metric can be important – but isn’t

necessarily important • If you’re focusing on 17 metrics, you’re

focusing on zero metrics

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There is no right metric that every organization should measure…

…and there’s no metric that is

universally wrong to take a hard look at.

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• Awareness • Affinity • Influence • Purchase Intent • Working towards scorecard

vs. internal, category, industry benchmarks

KPIS REVIEW PROCESS

• Social: Review monthly where agency comes in and presents

• Media: mid-month checks & optimization calls; full wrap up with deep dives on performance post every campaign

• Search: depending on the brand, have monthly calls


• Conversion • Conversion: Margin • Conversion: Traffic

• Robust spreadsheet that considers the TY and LY periods for traffic, conversion, sales, margin, AOV, UPT, etc., reviewed daily

• Not just looking at current or trailing performance, but upcoming periods to be compared vs. LY

• Evaluating correlative models between various KPIs

KPIS REVIEW PROCESS


• Traffic • Visits • Pageviews

• Use Chartbeat and Google Analytics in real time and use headline A/B testing for all on-site stories & social content

• Daily: Basic review • Weekly: Social review meeting to

examine top and lowest performers for stories on each channel & discuss optimizing packaging (imagery and copy) with marketing & data scientists

KPIS REVIEW PROCESS


• Clicks – Long – Short

• Time Spent

• Daily • Use a custom built dashboard to track

these KPIs by user type & country globally across audience of 1B+ people.

KPIS REVIEW PROCESS


• Total Visitors • US Visitors • # of Orders • Conversion Rate • AOV

• Daily • No formal process, but have daily

tracker with transacted sales, visitor, order, etc information into and the conversion rate & AOV updates automatically

• Dig into analytics accordingly depending on where they see dips or spikes vs plan

KPIS REVIEW PROCESS


Part 3TYING KPIs TO SUCCESS28


Good KPIs connect the short term

to the long term.


#LoveDrop Walkthrough Campaign

• Find singles on Valentine’s Day via SM • “Surprise and delight” with swag • Introduce target demographics to NYC

Social brand

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KPIs1. Posts from NYC region 2. Spring Registrations 3. Reach 4. Posts 5. Impressions

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Results of #LoveDrop Campaign• 3M Impressions • 536K Reach • 2K Posts • 90%+ of posts from NYC region • 150%+ Registration Goals • Sports Marketing Award • 15 Articles

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Part 4STRATEGIES & PLATFORMS

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Strategy

Implementat

ion

Analysis


There is NO magic formula for social media success.

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What Works on Facebook• Advertising • Post at unexpected times • Advertising • Paying attention to algorithm changes • Unexpected content

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To have a higher ROI, you’ve got to

break through the clutter.

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What Works on Twitter• Posting at the right time • Being succinct • Responsiveness & going the extra mile • Integrating Vine & video • Twitter cards

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What Works on Instagram• Great, platform-specific visuals • Great captions • PRing your account • Influencers

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Key Takeaways• Develop a process to plan out your strategy • Select KPIs right for your organization • Analysis is the fundamental third pillar of SM

success • Learn what works on a platform by platform

basis • Focus

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Thank YouQuestions? Comments? Stay in touch: @jeremarketer

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APPENDIX


Part 5SOCIAL & SEO

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Make it memorableThe search engine has changed everything. Instead of worrying about your spot in the phone book, you need a name that’s relevant and truly compelling. The keys to any name—simple or complex, abstract or descriptive—are grabbing attention and staying memorable.

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Make it memorable

arbitrary descriptive suggestive

KODAK BANK OF AMERICA VISA

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Part 2Competitive analysis 52

FIREBRANDGROUP

Brand // Michael’sSpecialty retailer of arts, crafts, framing, floral, and seasonal merchandise for

the hobbyist and DIY home decorator


overview• $4.4B annual revenue (December 2013)

• #91 America's Largest Private Companies (2013)

• As of May 2013, Michaels held more than 1,105 stores

in the United States and Canada

• #955 most popular website in US

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Weird Al


#8videos8daysWeird All’s 14th studio album, Mandatory Fun, released in July 2014. To promote it, Weird Al launched his #8videos8days project, releasing one music video per day for eight days straight, each on a different content partner’s website.

Eight. Days. Straight. 3700+ articles were written about him in one week, which generated over 3 million social media shares.

Mandatory Fun debuted at #1 the Billboard Top 200, a first in Weird Al’s career.

Shares! Those weren’t merely visitors, but visitors who chose to actively share the articles and generate traffic to his videos that were exclusively housed on his partner websites. Through partnerships with The Nerdist, Yahoo! Screen, College Humor, PopCrush, The Wall Street Journal, Vevo and Funny Or Die, Al was able to get his videos made (for free) in exchange for providing each publisher with exclusive content. The end result was mutually beneficial for both parties — the publishers gained traffic and ad revenue, and Weird Al received exposure and album sales.

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#8videos8daysA couple of his videos also featured guest appearances from the likes of Jack Black, Margaret Cho, Patton Oswalt and others. These high-profile celebrities shared Weird Al’s content with their own audiences, thereby providing additional exposure.

Pre-Campaign Buzz. On June 16, 2014, Weird Al released this teaser, “Transmission,” on his YouTube channel. During the month leading up to the album’s release on July 15, he would release 4 of these transmission videos.

Monday, July 14. Al kick-started his #8videos8days campaign with “Tacky,” a parody of Pharrell’s “Happy,” which premiered exclusively on The Nerdist. The article quickly garnered nearly half a million social media shares.

Tuesday, July 15. Mandatory Fun became available for purchase, and Al released the video for “Word Crimes,” a parody of Robin Thicke’s “Blurred Lines” which ridicules the poor grammar and spelling pervasive in our society today. He also participated in a Reddit AMA (“Ask Me Anything”).

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#8videos8daysWednesday, July 16. This day marked the debut of “Foil,” a play on “Royals,” released exclusively on College Humor, this video co-starred the hilarious comedian, Patton Oswalt.

Thursday, July 17. On Thursday, Weird Al gave us “Handy,” a la Iggy Azalea’s “Fancy,” in conjunction with Yahoo! Screen.

Friday, July 18. On Friday, he delivered “Sports Song,” an original song launched on Funny Or Die. It’s not available for embedding on external sites at the moment, but you can watch it here.

Saturday, July 19. Al dropped “First World Problems” on Saturday, a hilarious song about the whiny nature of people who don’t appreciate quite how fortunate they are. Al partnered with Pop Crush for this video.

Sunday, July 20. This day gave us “Lame Claim to Fame,” an original composition in the style of roots rock band Southern Culture on the Skids.

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#8videos8days

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Maersk


Maersk on Facebook

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Maersk Engagement Levels

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