MONETIZING YOUR SOCIAL FAN BASE TO DRIVE ROI SINGAPORE BUSINESSS REVIEW SPEAKER SERIES

18 SEP 2013 BY MATT COLLETTE, ZENO GROUP

MONETIZING YOUR SOCIAL FAN BASE TO DRIVE ROI

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Zeno Group Understanding the Economic Impact of your Social Audience Tactical Approach to Deriving Value from that Audience Long Term Monetization Approaches

ZENO GROUP

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MARKET COVERAGE – GLOBAL CONSULTANCY AND IMPLEMENTATION

12 Offices in Asia Network: Eight Zeno Offices

Four Affiliates

Employees in Asia. Singapore acts as the hub – with 15 consultants, offering over 75 years of world-class experience.

A truly pan-regional social-digital agency offering – one culture, one SOP, strong experience and a bias to partner with local best-in-class firms.

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Award winning: • SPIKES: Best Use of Social Media • SABRE: Best Technology Campaign • INAUGRAL PLATINUM SABRE: Best Overall • PR WEEK: Best Regional Program

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WHO WE WORK WITH

Social Advertising

Mobile Marketing

SEM

Community Engagement

Video Production

Monitoring & Measurement

Streaming Audio & Video

Influencer Outreach

Blogging

Web Development

Tone of Voice Dev.

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STATE OF SOCIAL

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There is 60x more brand content

in newsfeeds today 2011

2013 UPDATES

/MONTH

UPDATES

/MONTH 23

1440

OK, SO NOW WHAT? WHAT ARE WE DOING WITH ALL THESE PEOPLE?

WHAT’S THE ROI?

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1. Establishing clear objectives and strategy for social is critical 2. Having a clear understanding of how your digital properties contribute to purchase 3. Aligning metrics with funnel 4. Merchandising results effectively

First Adopters? Late Majority?

Alignment with marketing goals

ECONOMIC IMPACT

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ZENO SOCIAL MEDIA ECONOMIC IMPACT STUDY

Phase 1 Value of a Fan &

Bottom Line Contribution

Phase 2 Identify Mavens

Phase 3 Content Optimization

BOTTOM LINE CONTRIBUTION

• Estimates of fan value published throughout 2011 run anywhere from $3.60 to $136.38

• But, each company’s products differ and each community attracts a specific demographic with unique behaviors

• Survey deployed via Facebook App or mini site can be used to gain insights and assess the true value of a fan in terms of purchase intent and behavior.

IDENTIFYING MAVENS 1. Social Technographic Profile

• Identify make up of community beyond demographics and purchase behavior to social behavior.

• Helpful for setting measurements and benchmarks.

2. Establishing NPS • Establish baseline for brand/product satisfaction.

3. Connecting with creators, conversationalists and critics • People who can drive reach, sharing of content,

advocacy, and purchase behavior. • Focus on Engaging, Equipping, and Rewarding

individuals to turn them into brand heroes.

CONTENT OPTIMIZATION • Understanding of content produced and

posted within your social communities

• The goal of this stage is to look at how a brand can ensure content appeals to the audience base and target demographics

• Ensuring that content is both strategic and engaging to drive efficiencies, reach, and advocacy.

DRIVING PURCHASE ACTIVITY

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PRODUCT CONTENT

CAMPAIGN CONTENT PIMM’S

• Playing on people’s desire to make the most of good weather

• To capitalize on this behavior, Pimm’s focused its Facebook strategy on creating more ‘Pimm’s O’Clock’ moments at key times such as: • When the weather is good • Special events relevant to Pimm’s (e.g.

The Queen’s Diamond Jubilee) • Weekends & Bank Holidays

CAMPAIGN CONTENT PIMM’S

• Product focused content • Visuals that create impact • Serving suggestions that drove high

engagement • Weather-related messages at key

‘Pimm’s O’Clock’ moments, encouraging fans to get together with friends and celebrate with Pimm’s.

FACEBOOK OFFERS • Disseminate product offers and

social ‘coupons’ offering deals to fan base

• Has key visual and includes fields for copy, pricing, and terms

• Provides data regarding acceptance and redemption

• Posted on Facebook pages and can be sponsored with small media budget.

• Examples of brands that have used them include:

• Tuborg Israel offered a 15% discount on a Party Pack of beer and achieved 4,000 redemptions of the offer

• Costa Cruises offered a weekend cruise for $300. Of the more than 15 million people that saw the offer, almost half a million claimed it

FACEBOOK OFFERS

TWITTER CARDS

• Similar approach to Facebook offers

• Twitter cards embedded in website code

• Users that tweets link to the offers will display image with pricing information and click through links

• Requires some coding on website (two lines of HTML code).

LONG TERM MONETIZATION

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CREATING REWARDS CLUBS

• Creating social reward clubs/loyalty programs to drive repeat purchase and decrease cost of acquisition

• Opt-in and provides a brand with the opportunity to consistently drive product offers to fans in the same way you would for EDMs

• The more they buy, the more you reward.

TWITTER LEAD GEN CARD

• Similar to product card

• Makes it easy for users to express interest in what your brand offers.

• Companies receive email addresses with a business without leaving Twitter or having to fill out a cumbersome form

• Description of the offer and a call to action

• Pre-filled fields.

TAPPING SOCIAL DATA FOR LEAD GEN AND CRM PROGRAMS

• Content marketing is a great approach to identify and connect with existing and potential customers.

MONETIZING YOUR SOCIAL FAN BASE TO DRIVE ROI SINGAPORE BUSINESSS REVIEW SPEAKER SERIES

18 SEP 2013 BY MATT COLLETTE, ZENO GROUP