wine financial symposium - social roi: the big picture

15
1 Social ROI: The Big Picture Wine Financial Symposium | September 2016

Upload: marci-ikeler

Post on 12-Apr-2017

162 views

Category:

Social Media


5 download

TRANSCRIPT

Page 1: Wine Financial Symposium - Social ROI: The Big Picture

1

Social ROI: The Big Picture

Wine Financial Symposium | September 2016

Page 2: Wine Financial Symposium - Social ROI: The Big Picture

2

Information is cheap, but attention is expensiveWe now spend 9.5 hours out of every day consuming media, more than any other activity.With continually increasing information – and no increase in the number of hours in a day – our attention becomes rarer and more valuable.

Where do you fit in?

Information

Hours in the Day

Hours Consuming Media

The Challenge

Page 3: Wine Financial Symposium - Social ROI: The Big Picture

3

Most popular social platforms offer very limited organic reach - meaning you’ll be able to reach fewer of your followers, decreasing your opportunities for growth.In 2015, having 1 million fans or followers might make you feel great - but it doesn’t mean you’ll actually be reaching anyone with your content.

Organic Growth & Monetization No Longer Work

Since 2012, Facebook has been gradually reducing the organic reach of content posted by brand pages, encouraging businesses to pay for promoted posts to get in front of fans ... Each piece of content is seen by almost none of the people who "like" a brand, unless the brand pays Facebook.

- FastCompany, 3/31/14

Page 4: Wine Financial Symposium - Social ROI: The Big Picture

4

Attention Content

Page 5: Wine Financial Symposium - Social ROI: The Big Picture

5

AwarenessAttract new customers

and increase your brand awareness

through highly efficient advertising.

Engagement & Relevance

Keep your current fans happy and help your brand remain top-of

mind.

CampaignsSupport a new product

launch or seasonal promotion with a pulse

of social activity.

PurchaseDrive directly to

purchase or coupon redemption.

What role can social play for your business?

Choosing a Direction

Page 6: Wine Financial Symposium - Social ROI: The Big Picture

6

AwarenessAttract new customers

and increase your brand awareness

through highly efficient advertising.

Engagement & Relevance

Keep your current fans happy and help your brand remain top-of

mind.

CampaignsSupport a new product

launch or seasonal promotion with a pulse

of social activity.

PurchaseDrive directly to

purchase or coupon redemption.

What role can social play for your business?

Choosing a Direction

Page 7: Wine Financial Symposium - Social ROI: The Big Picture

7

The Evolving Role of Social Media

The role of social media has shifted from engagement and loyalty to awareness. Paid social is one of the most efficient ways to drive brand awareness due to low costs for reach and frequency. It offers: ➔ Detailed and accurate targeting➔ Real-time results and optimization opportunities➔ Reaches real people➔ Lower CPMs than other channels➔ Data shows that social ads drive brand affinity &

purchase➔ Higher frequency (>2 times per week) during key

media and sales periods is directly correlated with ad recall, brand awareness, and sales (Source: Facebook IQ and Oracle Data Cloud).

Sources: http://www.emarketer.com/Article/College-Students-Want-Targeted-Social-Ads/1013756; https://fbinsights.files.wordpress.com/2016/06/facebookiq_whitepaper_reach_matters_june-2016.pdf; https://fbinsights.files.wordpress.com/2016/07/facebookiq_whitepaper_efficient_frequency_final.pdf

Page 8: Wine Financial Symposium - Social ROI: The Big Picture

8

How to Leverage Awareness for the Tasting Room

Tasting Room Awareness

Detailed geo-location targeting allows you to reach wine lovers who are near your tasting room

Focused Re-TargetingUse social media to re-target

customers who have engaged with content in your tasting room.

Page 9: Wine Financial Symposium - Social ROI: The Big Picture

9

AwarenessFrequency

Brand Recognition & Awareness

Fans & Followers

Engagement & RelevanceSocial MentionsShare of Voice

Engagement RateRepeat PurchaseCustomer Loyalty

CampaignsSocial MentionsShare of Voice

Sweepstakes/ Contest Entries

PurchaseClicks

ConversionsCoupons

Store Locators

Setting Your KPIs

Quantifying Success

Page 10: Wine Financial Symposium - Social ROI: The Big Picture

10

Paid Media is critical, and it needs to be in lock-step with your creative

Paid media is critical to your social strategy

Page 11: Wine Financial Symposium - Social ROI: The Big Picture

11

Implications for Wineries & Tasting Rooms

Focus On High-Engagement Platforms

Instagram boasts the highest engagement rate, and we’re not on it. By focusing our efforts in this

platform in creative ways, we can grow our community organically and drive organic

engagement in place of Facebook.

Lower-frequency, Higher-qualityBecause post visibility is no longer certain, we will create fewer posts, but they will be higher-quality multimedia optimized for their platform.

Supporting this content with even minimal media spends ensures that it can be seen by your

audience.

Don’t Focus On Fan AcquisitionOur focus on Facebook should no longer be on

building a large fan base, since we can no longer message this fan base for free. Rather, we should

focus on selectively using Facebook's excellent targeted advertising capabilities.

Leverage Facebook & Instagram Advertising

Facebook and Instagram advertising remains the most  targeted and cost-effective ad platform in the world: off-line and on. We can get extremely

good results for minimum spend.

Page 12: Wine Financial Symposium - Social ROI: The Big Picture

12

Get results when you put social firstLittle Arrows is obsessed with creative social media

that drives real business results.

Page 13: Wine Financial Symposium - Social ROI: The Big Picture

13

Let’s Chat

Page 15: Wine Financial Symposium - Social ROI: The Big Picture

15

Thank You