Face Book Webinar FINAL 110609

8/6/2019 Face Book Webinar FINAL 110609

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Get your business or agency started with an ROI-basedapproach and avoid random acts of marketing

Sponsored by:

Strategic Social Media Marketing


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#SherpaWebinar

Daniel BursteinDirector of Editorial ContentMECLABS@DanielBurstein

Introductions

Tamara RosenbaumNational Account ExecutiveFacebook

Zuzia Soldenhoff-ThorpeResearch ManagerMECLABS@ZuziaThorpe

Todd Lebo,Sr. Director of Content & Business DevelopmentMECLABS@ToddLebo
http://www.twitter.com/danielbursteinhttp://www.twitter.com/zuziathorpehttp://www.twitter.com/toddlebohttp://www.twitter.com/toddlebohttp://www.twitter.com/zuziathorpehttp://www.twitter.com/danielburstein


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Join the conversation on Twitter

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CMO priorities and perceptions driving ROI 6 steps for getting started with a strategic

approach Calculating the ROI of social media marketing

Todays webinar agenda


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Publish research on what is working (and what isnt) for marketers today Benchmark Reports, case studies

Identify best practices and formulate practical methodologies Handbooks, Special Reports

Teach marketers how to apply best practices and methodologies

Summits, certification training, webinars

This years cycle is focused on monetizing social media for ROI

Annual research cycle improves marketing know-how


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Chart: 46% of CMOs in transition from the Trial to the Strategic phase

Social marketing requires investment in human and other resources

Strategic process needed to monetize social media channel and prove ROI

The importance of social marketing maturity

Three Phases of Social Marketing Maturity

Trial Phase Transition Phase Strategic Phase

Organization does not have aprocess or guidelines for

performing social marketing.

Organization has an informalprocess with a few guidelines it

sporadically performs.

Organization has a formal processwith thorough guidelines it

routinely performs.


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CMO priorities and perceptions driving ROI


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#SherpaWebinar


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Priorities for social media are changing Now its show me the money"

Social channel monetization factorsare top-of-mind priorities for CMOs

Goal of social channel monetization:Measurable return on investment

Strategic phase organizations are 80%more likely than Trial to prioritize ROI

Why? Trial phase organizations donthave a process for performing social

marketing or measuring ROI


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What is your perception about investing in social marketing for ROI?

A) Social marketing is producing a measurable ROI. Lets continueto invest in this tactic.

B) Social marketing is a promising tactic that will eventuallyproduce ROI. Lets invest, but do so conservatively.

C) Social marketing is unlikely to produce ROI. Why invest more?

D) Social marketing is basically free. Lets keep it that way.

AUDIENCE POLL

?


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Perceptions driving social marketing investment

If social marketing perceived toproduce ROI, investment follows

Strategic phase 4x as likely asTrial to produce measurable ROI

Why? No process, no proof of ROI, no investment

Think social marketing is free?Youre destined to get what youpay for!


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The promise of social marketing ROI a reality

When ROI equals a positive %,earning more than costing

Average social marketing ROI 95%

One-in-four CMOs are doublingtheir social investment (100% ROI)

Overcoming the myth that socialmarketing ROI isnt measurable


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Higher salesin stores andthrough thewebsite

Real-life example of social marketing ROI


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Six steps for getting started with a strategicapproach


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What is the meaning of strategy and optimization in social marketing?

?Social Media Strategy :Mapping a plan of action items essential for successful SM management

o Goalo Resourceso Schedule

Social Media Optimization :Methodization of social media activity with the intent of attracting uniquevisitors to online content*

o Marketing and brand buildingo Knowledge management strategy (product/service development, recruiting,

employee engagement and turnover, brand building, customer satisfaction andrelations, business development and more).

o Fostering a community of the associated site for a healthy business-to-consumerrelationship.

* Source: Wikipedia


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STEP 1: Perform competitive analysis

Six steps for getting started with a strategic approach


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Analyze whats working for them:Do they have great following?What do they offer their fans/members?What kind of content gets the most feedback?

Whats the level of engagement?

Try to find an innovative approach that has not been used byany of your competitors:

Giveaway/contest

Identify strengths and weaknesses of major competitorsStep 1 Perform competitive analysis


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STEP 1:Perform competitive analysis

STEP 2: Determine platform(s)



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Identify your audience first:o Segment & profile your target audienceo Identify where they hang outo Goal: loyal fans converting to loyal customerso Tailor your content to that specific audience

Map out a social media marketing architecture:o SM platforms are a place to communicate with customers,

provide them with valuable information- make them feel likecomrades sharing similar opinions, interests, passion or

professiono Set 10-30 minutes per day for your SM activity

Step 2 Determine platform(s)Determine which social media platform(s) to focus on


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STEP 3: Set up profile(s)



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Random acts of marketingStep 3 Set up profile Architecture


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Hub sites for content and conversion

Spoke sites for building communities,relationships and engagement

Directs traffic flow in and out of hubs

Number of sites not important a plan and purpose for every site is

Hub and spoke frameworkStep 3Set up profileArchitecture


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Communicate. Express. Engage.

ExpressPage owners can feature photos of recent, relevant experiences at thetop of the Page

EngageEngage with your Pages News Feedfrom the Pages point-of-view

CommunicatePublish timely messages andannouncements to your fans

Step 3 Set up profile Best practices


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Use your Page identity to express your brand

1. Switch from personal Profileto Page that you manage

2. Use Facebook as Page

3. Start using Facebook asyour Brand and toggle backto your Profile anytime

Step 3 Set up profile Best practices


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STEP 2: Determine Platform(s)


STEP 4: Build the community



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1. Invite friends and family2. Run PPC ads3. Promote your profile on other, industry-related

profiles, walls, blogs, accounts and pages4. Create an attractive offer, promotion or contest

Four ways to promote your profileStep 4 Build the community Promote your profile

MECLABS example with Research Partner using Facebook platform)


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Run PPC ads: Keywords and status targeting

The same ad targeting different status:1. Engaged and In Relationship2. Just Engaged

The same ad targeting different status:1. Engaged and In Relationship2. Just Engaged

+200%+79%

Step 4 Build the community Promote your profile Run PPC ads


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Run PPC ads: Testing images

Low CTR

Generic advs. usage of specific keywords

+12%

+27%

+114%



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Run PPC ads: Testing various creativesStep 4 Build the community Promote your profile Run PPC ads


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Run PPC ads: Testing copy

+42%



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Continuous efforts for constant activity Audit existing content Give them value Social media channels as your informal website; interest

and entertain! Inject sales-messages every 10-20 posts/Tweets Give reason to visit often, check back, subscribe Interact- respond to their comments, questions, concerns Stimulate discussion

Turn your community into your brand ambassadorsStep 5 Engage and grow


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Reducing customer service cost (immediate response)Step 5 Engage and grow Engagement examples


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Fun content, polls, stimulating Likes and commentsStep 5 Engage and grow Engagement examples

C ki d i h F i d


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Customers seeking advice amongst other FriendsStep 5 Engage and grow Engagement examples


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Customers expressing product satisfactionStep 5 Engage and grow Engagement examples


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Triggering ResponseStep 5 Engage and grow Engagement examples

f d h h


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STEP 4: Build the community

STEP 5:Engage and grow

STEP 6: Avoid common mistakes


T i k


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1. Presence on too many SM platforms2. Lack on specific strategy and/or plan3. Too many Fans/Likes4. Quality vs. quantity5. Selling too much

6. Not interacting with audience enough7. Lack of consistency8. No feedback-based testing9. Dont expect to monetize SM efforts10. No LinkedIn presence of the company

(and/or no employee profiles)

Top ten mistakesStep 6 Avoid common mistakes


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Facebook Case Study : How 1-800-Flowers

built a social business

H 1 800 Fl b il i l b i


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4,000transactions directly from promotion

MediaRelationships

Business

Publishing and Media build communitySocial Plugins influence product and marketing decisions

Media and Sponsored Stories drive sales

21

3

2

13

How 1-800-Flowers built a social businessResults:

Steps to develop:


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Calculating the ROI of social media marketing

ROI i f fi i l l d


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Formula: Return on investment =(Value gained from investment Cost of investment) / Cost of investment

Tracking the right metrics for determining the values and costs of socialmedia marketing can be a challenge

Around 10% of our social media activity directly translates to bottom-lineresults, making ROI easy to determine for that portion. However, 90% of thework has to do with people building their reputation online and helpingothers, so they can effectively promote the brand online. That big chunk of work is impossible to measure in terms of ROI. CMO insight

ROI is a measure of financial value returned onevery dollar invested

Wh i l l i i l di ROI


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When it comes to calculating social media ROI,some metrics matter more than others

Qualitative, non-financial metrics CAN be measured

Quantitative, financial metrics SHOULDbe measured

Financial values are metrics that matter most for calculating and proving ROIReturn on engagement, return on innovation, etc. mean nothing to the C-suite

V l CMO t l l t th R


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Values CMOs can use to calculate the Return

Many values can be measured

Estimated value of quantitativesocial media metrics

Likes/FansFollowers

Estimated value of qualitative socialmedia metrics

SentimentAwareness/voice

These metrics useful to monitoraudience but not to measure ROI

V l CMO h ld l l R


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Values CMOs should use to calculate Return

Actual sales on e-commerce sites can be tracked to social engagement Most organizations know the estimated value of a qualified lead use it! There are two ways to gain value increasing income and reducing costs

Not factoring social medias ability to reduce customer support costs is a missed opportunity

Which values can and should you use to calculate social marketing ROI?

C CMO i l l I


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Costs CMOs are using to calculate Investment

Investment side of ROI equals costsassociated with social marketing

Social falls into two main mediacategories earned and paid

Earned media time-intensive tacticrequiring more human resources

Paid media cash-intensive tacticrequiring fewer human resources

Th NEW d f th T i ff ti


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Meg Griffing Sloan, Becca Foy ,and 14 other friends likeHeineken.

The NEW word of mouth: Twice as effective

Source: Nielsen

VS

1.6xlift in brand recall

2x

lift in message awareness4xlift in purchase intent

Calculating social media ROI Best practices


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Formula for calculating the ROI of social marketing


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Formula for calculating the ROI of social marketing

(Value gained from investment Cost of investment) / Cost of investment = ROI

ROI analysis: Social lead gen campaign

Value: 500 qualified leads tracked to

social at est. value $150/lead = $75k Cost: Staff plus other expense = $15k

($75k - $15k) / $15k = 400% ROI

Value GainedMinus Cost

Dividedby Cost

Equals

ROI

Quick recap


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1. Use a social marketing architecture to control flow of traffic to conversion

2. Remember whats driving investment in social marketing programs

3. Calculate ROI and do it in a language the C-Suite understands

Quick recap


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Send us your questions: Twitter @MarketingSherpa Email: [email protected]

Questions and Comments from the audience
http://www.twitter.com/marketingsherpamailto:[email protected]:[email protected]://www.twitter.com/marketingsherpa


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Face Book Webinar FINAL 110609

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