Generating ROI from Social Media - Crimson Consulting
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Transcript of Generating ROI from Social Media - Crimson Consulting
Dylan Charles
Karen O’Brien
Jim Meyer
February, 2011
eTrigue Webinar Series…
Creating Social ROI
1
• Leveraging Social Media to Generate Leads and Create Revenue:
• Listen
• Create a Content Strategy
• Engage with your Targets
• Integrate your Platforms
• Capture, Nurture, and Close
• Measure
• Getting Started Jim MeyereTrigue
Dylan CharlesCrimson Consulting
Creating Social ROI
Karen O’BrienCrimson Consulting
2www.crimson-consulting.com © CRIMSON CONSULTING 2011
Social Media Plays a Significant Role in Purchase Decision Making
Over 25% of buyers visit forums and social networks to get product information
42% of B2B buyers believe that editorial or 3rd party content is more valuable than vendor content
84% of BDMs stated that professional peers and colleagues (word-of-mouth) had the greatest influence on purchasing decisions
Investment in Social Media is rapidly increasing
3www.crimson-consulting.com © CRIMSON CONSULTING 2011
CMO’s are moving towards measuring social media conversions and revenue in 2011
Conversions and revenue move up to dramatically change how social media is being measured, many are looking to Facebook as a channel
4www.crimson-consulting.com © CRIMSON CONSULTING 2011
Not Just a Fad, Real Results
There is significant ROI here.
$250K Deal – Source: Twitter Program
This also came on a minimal Twitter engagement “92% of B2B technology buyers consider themselves engaging in some
form of social media,” Dunay says.– Source: Social Media Examiner, ‘It Pays to Listen: A $250K Twitter Sale’, Nov 12, 2009
$15M Sales via Facebook Campaign Facebook Campaigns of this sort only costs from $25 - $100K Campaign tracked sales through initial contact to final sale by tracking
leads and managing in the SFA solution.
$3M+ Sales via Twitter Channel Basic Twitter moderation costs only range from $8 - $10K per month “Nelson says Twitter is now a serious and tangible marketing channel,
helping to move large inventory bubbles with a few posts” – Source: Marketing Profs
5www.crimson-consulting.com © CRIMSON CONSULTING 2011
Impacts More than Just Revenue
Increase Engagement *Blogs, YouTube, Events
Drive Evangelism & PR *Twitter, Facebook, YouTube
Improve SEO Strategy *Blogs, Answers, YouTube
Lead Gen/Sales *Twitter, LinkedIn, Facebook
Collaboration and Innovation *Twitter, LinkedIn
Gain Customer Insight *Twitter, Facebook
Create Competitive Differentiation
Product Marketing Sales Support
6www.crimson-consulting.com © CRIMSON CONSULTING 2011
How to Leverage Social Media to Generate Leads and Create Revenue
Listen
Develop a Content Strategy
Use the Content to
Engage
Capture and Convert
Nurture your leads and turn
them into revenue
Measure and Improve
Hear what your customers and the channel is talking about
What do your customers want? What do you have? Is it ready? Where will it lead people?
Take what you have and make it usable
Participate Publish Respond
Establish your social architecture Landing pages aligned to content Capture information on the inbound traffic Turn visitors into leads
Nurture and Close
What worked? What didn’t?
7www.crimson-consulting.com © CRIMSON CONSULTING 2011
Listen
Listen to your community…and learn from what they’re saying about you
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Develop a Content Strategy
Campaign
Campaign
Launch of Social Media Programs
Vibrant Social Media Activity
Ongoing
Leve
l of E
ngag
emen
t
High Level, Critical Mass
Time
Low Level, Minimal Users
Optimized for the Medium Bite sized Embed a call to Action Embed a link
Develop a value-oriented content strategy considering content creation, management, integration / publishing workflow, and user-generated content.
9www.crimson-consulting.com © CRIMSON CONSULTING 2011
Add ValueTo raise the interest of your peers, add value to the conversation, through sharing resources, being supportive, giving feedback or congratulating someone.
Respond
If someone is mentioning your company or a product of yours, you have an open door to enter the conversation. Don’t let someone else control it, this is your opportunity to drive it the way you want. Additionally, if someone talks to you or requires your attention, make sure to reply! If someone feels ignored, you’ve failed an important aspect of your Social Media strategy.
Be Real Be polite and proper, people expect and want you to be human. If you don’t sound like a regular person, people won’t talk to you.
Don’t SpamDon’t just use social media to promote your products and services. If you repeat yourself too many times and are not adding any value to conversations occurring on social networks, you may appear as a spammer.
Use Content to Engage
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Capture and Convert
Integrate Social Assets into Hub & Spoke(s) Architecture
Create a social architecture linking your social engagement back to your hub
Your company’s website(s) are the hub
Focus on key social networks and identify and build engaged communities on each
Drive offsite traffic on social networks and through engagement back onsite to your hub
Publish relevant content consistently across all channels
Launch engagement campaigns consistently across all channels
11www.crimson-consulting.com © CRIMSON CONSULTING 2011
Social to Close
Social Media Programs Tightly coupled with traditional marketing Every program tied to web and “premium content”
Conversion Form Fills and email link clicks start tracking Track all actions to build a digital biography Tie Anonymous social and other activities to a
“known prospect”
Continued Harvesting Continue ongoing outbound Tie content to interests
Close Sales by Focusing Sales Team chooses who is “hot” Hot leads pushed to CRM/Funnel Sales Team closes hot leads
12www.crimson-consulting.com © CRIMSON CONSULTING 2011
Pragmatic Steps to Get Started
Crawl Walk Run FlySocial Media
GoalEstablish Social Media Presence
Optimize & Expand Engagement / Content
BuildMomentum
BuildAdvocacy
Target Audience & Goals
Prospects & Customers: Awareness of SM Presence & Communities
Prospects: Consideration & Trial
Customers: Engagement
Prospects: Generate Leads, Trial & Purchase
Customers: Expand & Extend Relationships
Customers: Create and Nurture Advocates
Prospects: Increase rate of Leads, Trial & Purchase
Desired Outcomes
Optimize SM Architecture and align with Brand Architecture Increasing Participation Increasing Engagement Advocacy
Initiatives Align Social Media Assets with
Brand Architecture Setup Ongoing Monitoring &
Analytics
Establish Repository of SocialMedia Content
Initiate Moderation Program
Nurture Initiate Lead Generation
Campaigns
Encourage and Reward Advocacy
Resource Requirements 1.0 – 6.5 FTEs 2.5 – 4.0 FTEs 2.5 – 4.0 FTEs 2.5 – 4.0 FTEs
Example Metrics
Posts, Comments, Messages, Ratings
Friends, Followers, Subscribers, Members
Page Views, Visitors, Traffic, click stream, Referring url
Topic Trends
Content and Conversation Volume
Content and Sentiment Ranking
Unique visitors User generated content Sharing, Reposts, Embed
Form Capture/Data Capture Visits and Opportunities from
Social Source Closed opportunities from
Social sources
Sales New customers Share of wallet
13www.crimson-consulting.com © CRIMSON CONSULTING 2011
Crimson is an end-to-end marketing consultancy. We specialize in Channels and Partners; Products and Markets; Interactive and Lead Management. Our clients include Adobe, Cisco, eBay, Hitachi, HP, IBM, Intel, Microsoft, Oracle, SAP, Seagate, Symantec, and Verizon.
Partner Program Infrastructure
Partner Community Management
Channels & Partner Marketing
Channels and Partners
Market Insight
Positioning & Messaging
Content Development
Products and Markets
Web Strategy, Marketing & Development
Community Services
Social Media Marketing
Interactive
Contact & Campaign Management
Lead Nurturing & Qualification
Sales & Channel Integration
Closed Loop Campaign ROI Analytics
Lead Management
Crimson Services
© CRIMSON CONSULTING 2011
Crimson Consulting4970 El Camino Real, Los Altos, CA 94022650.960.3600 www.crimson-consulting.com
Dylan Charles, Partner650.429.0337 [email protected]
Karen O’Brien, Partner650.429.0340 [email protected]
Thank You!