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Show me the Money - Proving success in social media
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Transcript of Show me the Money - Proving success in social media
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Proving success in social mediaPhilip Buxton, head of marketing, iCrossing UK
SHOW ME THE MONEY
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AGENDA PROVING SUCCESS IN SOCIAL MEDIA
>Context– The curse of the last click
>Due diligence– STOP analysis– Engagement framework– Measurement models
>Defining success– Proving the case
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CONTEXT INVESTMENT HAS FOLLOWED ATTRIBUTABLE SALES
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> Disproportionate spend on paid search
> Money follows demonstrable ROI, rather than ‘real’ returns.
> An entire industry built around ‘the last click’
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CONTEXT WE KNOW DIGITAL JOURNEYS ARE MORE COMPLEX
>New tools are allowing us to see the real worth of digital channels
>But data should only help us build stories of user behaviour
>What about offline experiences?
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“MARKETING IS NOT A FUNCTION, IT IS THE WHOLE BUSINESS SEEN FROM THE CUSTOMER'S POINT OF VIEW.”
Philip Kotler
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(SOURCE: Flickr.com/Matt McGee)
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SOCIAL MEDIA ARE MAINSTREAMThey are how your customers do and will view brands
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CONTEXT ‘HOW MUCH SHOULD I SPEND ON SOCIAL MEDIA?’
>We shouldn’t seek to apply financial measures to non-financial behaviours (Forrester)
> ‘What’s the least I should do?’
>Due diligence – become literate, have a strategy
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DUE DILIGENCE ICROSSING’S 3 TOOLS FOR SOCIAL MEDIA STRATEGY
1. STOP Analysis
2. Engagement framework
3. Measurement models
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DUE DILIGENCE STOP analysis
>Strategic – how does the social web affect my marketing strategy? In a world where information and experience is ‘networked’ how can we market ourselves?
> Tactical – how should my marketing campaigns/customer service be different in the short-term now that these new platforms exist and are dominant?
>Organisational – social media cuts through departments. How might we organise ourselves better? What platforms do we need to build and who should own them?
>Personal – I and all those around me need to know the rules of engagement in social media so we can act appropriately and with confidence. What rules should we set?
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DUE DILIGENCE ENGAGEMENT FRAMEWORK
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DUE DILIGENCE MODELS OF SOCIAL MEDIA MEASUREMENT
> Forrester– Advises against assigning financial values to non-financial metrics:
• Fails to measure true business value • Gets in the way of achieving objectives• Can attribute success to the wrong channels
– Is for a “balanced social media marketing scorecard”:• Financial – revenue or profit increases or costs decreases• Digital – enhancement of own or earned digital assets• Brand – positive changes in consumer attitudes to the brand• Risk management – improvements in preparation to note
and respond to attacks or problems that affect reputation– Aligns measurement to corporate objectives, enhancing strategic
development and satisfying as many stakeholders as possible
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DUE DILIGENCE MODELS OF SOCIAL MEDIA MEASUREMENT
> IAB
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DUE DILIGENCE MODELS OF SOCIAL MEDIA MEASUREMENT
> Virtue- Calculates ‘value’ of a
Facebook page using fan count, customer activity, brand activity, and a proprietary engagement multiplier
- Configurable CPM of ‘earned media’ that defaults to $5
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DEFINING SUCCESS
WHAT IS THE OBJECTIVE?
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Awareness measured? Awareness up?
BRIEF> Raise awareness of the new iQ city car through the
use of social media
SOLUTION> Hypermiling identified as key topic through social
research> Hypermiling stunt to drive to 18 cities on one tank
of fuel> Project reported through a range of social media
channels, Flickr, Twitter, YouTube, Google maps mashup and the iQ blog
> Word of mouth used to contact influential bloggers lightly informing them of project
RESULTS> Programme ‘reached’ 105 million people worldwide.
3.7m in the UK, through coverage in 64 blogs, including Wired, New York Times and Treehugger
> Traffic to iQ blog increased by 212% - 32x traffic from external sources
> Traffic arrived with ‘advocacy’ in-built from independent editorial coverage
WHAT IS THE OBJECTIVE?
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DEFINING SUCCESS
WHAT WAS THE OBJECTIVE?
>Ann Summers case study– Reach, CPM, coverage, brand perception, ‘sentiment’
> Toyota iQ case study– Reach, coverage, traffic, traffic source, ‘advocacy’
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DEFINING SUCCESS
PROVING THE CASE
>Be utterly clear on the objective. Measure against that alone
>Use numbers, but only to tell a story
>Compare - how else could the objective have been achieved?
>Or…
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TRUST ME I’M A MARKETER
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(SOURCE: Flickr.com/Matt McGee)
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THANK YOU
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Email: [email protected]: @icrossing_ukBlog: http://connect.icrossing.co.ukWebsite: www.icrossing.co.uk