Measuring RoI for Transmedia

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Some wonder why they should give away free content or experiences if it's only enjoyed by those who will buy the paid content anyway. This presentation describes an approach to cost-justifying free content and experiences and explains why it's a good investment in customer relationships. More in this doc: http://www.transmediastoryteller.com/community/content/5/58/audiences-engagement-and-content-strategy-for-transmedia-storyt

Transcript of Measuring RoI for Transmedia

  • Robert PrattenFounder, TransmediaStoryteller.com

    26th October 2010

    Presentation to

    Spoilrr Meet-up GroupSan Francisco, California

    Measuring RoI for Transmedia Storytelling

  • About me

  • This presentation

    Intro to transmedia: basic concepts what is transmedia storytelling? types of transmedia storytelling why is "transmedia so popular?

    Measuring RoI in Transmedia Cost-justifying free content The $ value of advocacy

  • Part 1: Introduction to Transmedia

  • Transmedia storytelling

    is telling a story across multiple media and, if possible, with audience participation, interaction or collaboration

    ...with each product or experience satisfying in its own right

    and consumption of each additional media heightening the audience understanding, enjoyment and affection for the storyworld.

  • Transmedia storytelling

  • Narrative space

    CURREN

    TN

    EW

    PLACE

    story

  • Story and storyworld

  • Harry Bosch (Author: Michael Connelly)

    Los Angeles

    Rodney King

    Harry Bosch

    The FBI

    LAPD

    Eleanor Wish

    LA Times

    Crime (Homicide)

    Mickey Haller

    The

    Myt

    hos

    e.

    g. th

    e St

    oryw

    orld

    Fictional World Past & Present

    Book A

    Book B

    Book C

    http://en.wikipedia.org/wiki/Michael_Connelly

    Real World Past & Present

  • Franchise transmediamultiple platforms create a collection of individual experiences

  • Types of Transmedia

  • Portmanteau transmediamultiple platforms contribute to a single experience

  • Mix & match of transmedia types

    ARG

    Comic Book Feature Film

  • Why Transmedia

    Millennials/GenY expect it: simultaneous multi-platform consumption of media multiple media

    More audience touchpoints & improved engagement in world exploding with content: address discovery & attention; piracy; UGC

    Increased advocacy (more later...) Consumers actively avoiding ads: therefore brands

    seeking truly engaging experiences Exciting and fun: oceans of uncharted water to explore

  • Transmedia Tao

  • Part 2: Measuring RoI

  • Measuring RoI for Transmedia Storytelling

    how do we cost-justify the content and experiences we give away for free?

  • Assumptions

    Other products or services sold to generate revenue The free content and experiences are sharable Not an isolated give-away but an on-going relationship

    with audience/consumers There is a content strategy: you know who each piece

    of content is intended for and how it will be used

  • Multi-platform strategy

    Spread, Attention and Credibility

    Reve

    nue

    GoodPoor

    Goo

    dPo

    or

    YouTube

    App StoreOfficialsite

    piracy

  • Content thats designed for a purpose

  • Determine goals

    Awareness Advocacy Sales Insights

  • Cost-justifying the investment

    Awareness Comparison with other methods (e.g. paid ads)

    Advocacy Net Promoter (word-of-mouth economic framework) Customer Value Matrix

    Sales New revenue from new customers New revenue for existing customers

    Insights reduced cost of product development reduced cost of scrapped

  • Awareness

  • Awareness

    Awareness is measured by recall Recall is significantly higher for rich media

    than for TV or banner ads In measuring cost-effectiveness, the question

    is how much do I need to spend for the same level of recall? (e.g. not for number of views)

    Free content lives on long after paid advertising has been spent and replaced

  • Recall comparisons

  • Advocacy

  • Net Promoter Word-of-Mouth Economic Framework

    Net Promoter is another approach to measuring the ROI in empowering advocates. The methodology places customers along a spectrum from Detractor (negative word-of-mouth) through to Promoter (positive referrals).

  • Calculating a Customers Worth

  • Customer Value Matrix (Harvard Business Review)

    low high

    low

    high

    Cust

    omer

    s Li

    fetim

    e Va

    lue

    Customers Referral Value

    Affluents Champions

    Misers AdvocatesDont buy a lot but are

    strong marketers

    Buy a lot but dont market well

    In the Harvard Business Review (HBR) article How Valuable is Word of Mouth?, researchers found that a companys most valuable customers were those whose word of mouth brought in the most profitable new customers regardless of how much they bought themselves. Well-designed transmedia will have the impact of increasing referrals (and hence customer value) in all segments, effectively converting the least valuable Misers into Advocates and Affluents into Champions.

  • Why Should Free All Be Spreadable?

  • The Consumer Funnel

    brand awareness

    brand consideration

    brand preference

    buying intention

    purchase

    customer advocacy

    customer loyalty

    brandimage

    emotional response

    attitude towards rich media

    consumer sees rich media

    love the media

    share/remix

    contentcreation

    cons

    umer

    funn

    el*

    *Borrowed from Elaboration Likelihood Model, Richard E Petty and John T Cacioppo

  • Cost-justification

    customer advocacy

    customer loyalty

    brandimage

    emotional response

    attitude towards media

    consumer sees rich media

    love the media

    share/remix

    contentcreation

    brand awareness

    brand consideration

    brand preference

    buying intention

    purchase

    A. Comparison with other media in terms of basic awareness generation.

    B. Calculating the word-of-mouth referral and customer lifetime value (CLV) benefits.

  • Free content & experiences are social media (e.g. meant to be shared)

    Uncreative or clumsy attempts to motivate audience to buy now destroy the social capital inherent in forwarding content to a friend and hence significantly damage its chances of spreading

    Capturing sales will be best accomplished by combining marketing methods.

    Calls-to-action in free content should offer prospect of further engagement - directing audience to homepage where new calls-to-action motivated the buy.

  • Does free content generate sales?

    impression-based & rich media advertising influenced purchasing decisions as many as 30 days out from the actual sale

    click-through rates were 22% higher for search advertising campaigns assisted by impression-based ads.

    Microsofts whitepaper, The Long Road to Conversion, criticizes what it calls the last advert model in evaluating marketing ROI in which calculations over-attribute sales success to the last click before conversion. After studying 17 million sales conversions between May and September 2008 they found that:

    That is, although impression ads and rich media are generating sales, few marketers record their full contribution to success because the click is attributed to the final search ad and because measurement of ad spending rarely looks far enough back in the history of the consumers contact with the brand.

  • Sales

  • Justifying free content for existing fans

    Increase in advocacy generates: increased margin per fan (e.g. up-sell to collectors

    edition) market for new products (role-play, belonging, gifting) new sales to new audience

    Increase in life-time value of IP deeper mythos = more sustainable (from cult to pop),

    more opportunities greater longevity increased customer life-time value

  • Summary

    Transmedia storytelling is increasing audience engagement (and hence revenue) by telling stories across multiple platforms and allowing audience participation.

    Return on investment can be measured by an increase in: Awareness Advocacy Sales Insights

  • Transmedia Storyteller

    Robert Prattentwitter.com/zenfilms

    www.transmediastoryteller.com

    Slide Number 1About meThis presentationSlide Number 4Transmedia storytellingTransmedia storytelling Narrative spaceStory and storyworldHarry Bosch (Author: Michael Connelly)Franchise transmediamultiple platforms create a collection of individual experiencesTypes of TransmediaPortmanteau transmediamultiple platforms contribute to a single experienceMix & match of transmedia typesWhy TransmediaTransmedia TaoSlide Number 16Measuring RoI for Transmedia StorytellingAssumptionsMulti-platform strategyContent thats designed for a purposeDetermine goalsCost-justifying the investmentSlide Number 23AwarenessRecall comparisonsSlide Number 26Net Promoter Word-of-Mouth Economic FrameworkCalculating a Customers WorthCustomer Value Matrix (Harvard Business Review) The Consumer FunnelCost-justification Free content & experiences are social media (e.g. meant to be shared)Does free content generate sales?Slide Number 35Justifying free content for existing fansSummarySlide Number 38