Marketing Panel Discussion: Measuring the Impact of Social Media
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Transcript of Marketing Panel Discussion: Measuring the Impact of Social Media
Marketing Panel Discussion: Measuring the Impact of Social Media
Marketing Professionals Track
Brian Halligan, HubSpotMelissa Lacitignola, ZapposFrank Eliason, Citi
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Agenda Slide
Introductions
Brian Halligan, HubSpot
Melissa Lacitignola, Zappos
Frank Eliason, Citi
Q & A
@marcusnelson #df10
AUDIENCE POLL
@marcusnelson #df10
Social Media’s Place Within the Organization
@marcusnelson #df10
Proving ROI is a Challenge
@marcusnelson #df10
Brian Halligan
HubSpot
HubSpot 3600 Customers 200 Employees
@bhalligan #df10
“Database” Measurement Has Evolved
@bhalligan #df10
Measure “Reach” Not Email List Size
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
Oct-09 Dec-09 Feb-10 Apr-10 Jun-10 Aug-10 Oct-10
HubSpot Reach
SlidesShare Followers
YouTube Subscribers
Company Blog Subscribers
iTunes Subscribers
FaceBook Fans
Facebook Inbound Marketers
HubSpot Blog Subscribers
LinkedIn HubSpot Followers
LinkedIn Inbound Marketers
Twitter Followers (@grader + @hubspot)
Email DB
@bhalligan #df10
Measure Reach vs The Joneses
@bhalligan #df10
“Funnel” Measurement Has Evolved
@bhalligan #df10
Closed Loop Funnel Measurement
@bhalligan #df10
Closed Loop Social Media Measurement
@bhalligan #df10
Social Media is not magic.
Joining Facebook (or Twitter, or LinkedIn) will not revolutionize your company or your marketing.
@bhalligan #df10
Don’t dip yourtoe in the water.
Jump in ALL THE WAY.
Success = Content + Social Media
Success = R0 + Reach
R0 = Reproduction Rate (The average number of new infections a single infection case will cause)
Success = R0 + Reach
Let R0 = .05
@bhalligan #df10
Let R0 = .1
@bhalligan #df10
Let R0 = .2
@bhalligan #df10
Melissa Lacitignola
Zappos
All About Zappos.com
• Founded in 1999 in San Francisco• Open 24/7 – 365 days a year• We have two locations – Las Vegas, NV &
Shepherdsville, KY • Grew sales from almost nothing in 1999 to over $1
billion in gross merchandise sales in 2008• Acquired by Amazon in 2009• #1 driver of growth is through repeat customers
and word of mouth· • We’re a service company who happens to shoes,
apparel, handbags, etc…· • Customer service is not a department, it’s the
entire company.
@moelissa #df10
@moelissa #df10
“People may not remember exactly what
you did or what you said, but they will always remember how you
made them feel.”
@moelissa #df10
@moelissa #df10
@moelissa #df10
Yeah…We’re Different
@moelissa #df10
Opposite mindset of standard
efficiency metrics
@moelissa #df10
Social is an opportunity to make a personal connection.
@moelissa #df10
Not measuring what we get,
but what we give.
@moelissa #df10
We want to drive up engagement
@moelissa #df10
In the end, social is an input to the result of an NPS score.
@moelissa #df10
Social is an investment. We don’t need to come up positive in
social investment.
@moelissa #df10
“We’re in the stories and memories business.”
– Tony Hsieh, CEO
@moelissa #df10
Social Helps Us Build Relationships With Returning Customers.
@moelissa #df10
On any given day, about 75% of purchases come from returning customers.
@moelissa #df10
Repeat customers order more than
2.5x in 12 months.
@moelissa #df10
Customers come back, order more and order more often…
Fact: Repeat customers have higher average order size
@moelissa #df10
Social Metrics are simply measuring outward expressions of internal emotions.
Optimize towards increasing those emotions.
@moelissa #df10
Yes, we DO get numbers.
Referrals for Social Sites to Zappos.com Traffic and revenue from Facebook Daily Product likes, shares and reshares Traffic and revenue from Facebook ads General traffic and revenue among visits via Twitter “Likers” hidden from news feed
@moelissa #df10
Our Toolbox
SAS
Radian 6
Buddy Media
Facebook Analytics
Google Analytics
In-house Analytics Tool
@moelissa #df10
@moelissa #df10
Frank Eliason
Citi
@frankeliason #df10
Brian Halligan
CEO
Melissa Lacitignola
Video/Blog Supervisor
Question & Answer
Frank Eliason
SVP, Social Media
#df10
Jump in all the way!
Content, content, content
Social Media is an investment for your brand.
Measure what you feel is important, but know that THE most important thing is your customer’s satisfaction.
It’s called social – so BE SOCIAL
As long as you’re providing the best customer service in that space, then you're measuring positive.
Key Take Aways
#df10
Measuring the Impact of Social Media
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