Igniting Opportunities: Measuring and Monetizing Social Media
April 25, 2012
Social MediaMonetization & MeasurementAdam Lavelle, Chief Strategy Officer, iCrossing
April 6, 2011
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moment – (physics): a tendency to produce motion,
esp rotation about a point or axis
What is a moment?
4
Which moments are worth owning?
Advertising
First Moment of Truth
Point of Sale
The 3-7 seconds when
you are staring at the products on
the shelf
A.G. Lafley, P&G
SecondMoment of Truth
Use of Product
When you experiencethe product
A.G. Lafley,P&G
Exploring
The online decision-making
moment(s)
Jim Lecinski,,Google
ThirdMoment of Truth
Advocacy/WOM
What you say to others about the product
Pete Blackshaw,
Nestle
5
Source: Forrester
6
Source: Forrester
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8
Making the moments matter
9
Buying attention alone is not sustainableA
ttenti
on
Time
LaunchLaunch EndEnd LaunchLaunch EndEnd
Ownable audience
When bought media ‘goes dark’ there is no conversation between the brand and the
audience
10
Bought, earned, owned build valueA
ttenti
on
Time
Bought
Launch
Launch
EndEnd
Bought
LaunchLaunch
EndEnd
Bought
LaunchLaunch
EndEnd
Earned & Owned
Ownable audience
*
* To succeed, earned and owned have to be always-on
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12
13
14
15
16
(% of total)
January 2012
CTR for ‘social’ email…
Source: GetResponse
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(Minutes)
January 2012
Time Spent on Site by Log-in Type
Source: Gigya
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(Minutes, after clicking a plug-in)
January 2012
Time Spent on Site by Plug-in Interaction
Source: Gigya
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Human beings know they are ‘influentials’
73% of young adult women describe themselves as influential information sources
Ipsos Mendelsohn /Fleishman Hillard /Hearst, Jan 2012
Millenials Xers Boomers Seniors
I am an influential information source 73% 53% 51% 44%
I regularly influence friends and family to buy or not to buy a particular product or service
69% 49% 41% 27%
Using social network sites has made it easier for me to decide on what to buy
61% 46% 36% 29%
Using social network sites to share my shopping and product experiences make me feel empowered
51% 33% 19% 9%
Women’s marketplace influence self-assessment
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Purchasing ‘inside’ social – not so much…
(% of respondents)
December 2011
Product Purchase Intent, via Facebook Retailer Page
Source: Oracle
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Average revenue per order…
Source: February 2012 by ClearSaleing
Revenue Per Order
All DigitalChannelsAverage
DisplayAverage
Paid SearchAverage
NaturalSearch
Average
AffiliatesAverage
ComparisonShoppingAverage
EmailAverage
Social MediaAverage
$0.00
$50.0
$100.0
$150.0
$200.0
$250.0
$300.0
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Is this true?
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Social media enables targeted marketing responses at individual touch points along the consumer decision journey.
Source: Expert interviews; McKinsey analysis
1. Monitor Social channels for trends, insights
2. Respond to consumers’ comments
3. Amplify current positive activity/tone
4. Lead changes in sentiment
or behavior
Consider Brand monitoring Crisis management
Referrals and recommendations
Brand content awareness
Evaluate Product launches
Buy Targeted deals, offers
Experience Customer service Fostering communities
Customer input
Advocate Brand advocacy
Bond
Ste
ps in
the
cons
umer
dec
isio
n jo
urne
y
Thank you McKinsey, for having a chart…
24
Which moments matter, and how
do we make them happen well?
Thank you
Adam LavelleChief Strategy Officer, iCrossing
Find out more at www.icrossing.comFollow us on Twitter @icrossing
Become a fan at Facebook.com/icrossing
© 2012 Converseon Inc. Proprietary and Confidential
Social Media Measurement\\Igniting Opportunities: Measuring and Monetizing Social Media
April 25, 2012
© 2012 Converseon Inc. Proprietary and Confidential 26
© 2012 Converseon Inc. Proprietary and Confidential
Converseon: Leading Social Strategy and Technology Firm
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Source: The Forrester Wave™: Listening Platforms, Q3 2010, July 2010 The Forrester Wave is copyrighted by Forrester Research, Inc. Forrester and Forrester Wave are trademarks of Forrester Research, Inc. The Forrester Wave is a graphical representation of Forrester's call on a market and is plotted using a detailed spreadsheet with exposed scores, weightings, and comments. Forrester does not endorse any vendor, product, or service depicted in the Forrester Wave. Information is based on best available resources. Opinions reflect judgment at the time and are subject to change.
The Forrester Wave: Listening Platforms
Converseon
“Best Socialized Company (with IBM)”“Best Social Agency”
“Top Ten Smartest Big Brands”
“Best Word of Mouth Program”
“Award of Excellence for Communications Innovation”
“Best Use of Virtual Worlds”
© 2012 Converseon Inc. Proprietary and Confidential
Start with KPIs: Measure with Purpose
•Reputation Management•Crisis Management•Customer Service/Call Center Reduction Costs•Innovation•Product Lifecycle Management
•Demand Generation•Media planning•Campaign Effectiveness•Compliance/legal•HR•R&D •Search, etc.
© 2012 Converseon Inc. Proprietary and Confidential
But There is Data Everywhere
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© 2012 Converseon Inc. Proprietary and Confidential
If You’re Not Confused, You’re Not Paying Attention
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© 2012 Converseon Inc. Proprietary and Confidential 31
What Are People Saying?
Source: Converseon analysis of public online conversation records, conducted January 2011
January 2011
ILLUSTRATIVE
© 2012 Converseon Inc. Proprietary and Confidential
twitter.com 18.2%
facebook.com 8.63%
topix.com 2.97%
aippg.net 2.01%
religiousforums.com 1.31%
mybrothers.com 1.05%
forums.studentdoctor.net 0.87%
healthmedicalinformation.com 0.87%
healthdisorder.wordpress.com 0.87%
fiercebiotech.com 0.79%
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Where is it Happening?
Top Websites for Disease State Y ConversationsApril – May 2010
Source: Converseon analysis of public online conversation records, conducted January 2011
ILLUSTRATIVE
© 2012 Converseon Inc. Proprietary and Confidential 33
What are They Talking About?
Source: Converseon analysis of public online conversation records, conducted January 2011
ILLUSTRATIVE
© 2012 Converseon Inc. Proprietary and Confidential
Bringing it All Together
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» Develop measurement plan to align current business goals, KPIs, and metrics for each channel to ensure dashboard incorporates the necessary data and insights
» Establish brand health scores that allow marketers to track effectiveness of all marketing tactics
» Analyze cross-channel impact and correlation
» Implement reporting dashboard to monitor results on an ongoing basis
» Provide investment recommendations and campaign optimizations based on monthly brand results
Bridge the gap between digital, social, and traditional measurement to deliver a comprehensive performance view.
© 2012 Converseon Inc. Proprietary and Confidential
Attribution Modeling is Illuminating Dark Matter in the Measurement Universe
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© 2012 Converseon Inc. Proprietary and Confidential
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Next: Predictive modeling
Conversation Mining
TrafficConversion/Analytics
Sales Brand Tracking
© 2012 Converseon Inc. Proprietary and Confidential 37
But We’re A Long Way off…
Thank you
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Monetizing [Meaning Economics] of Social Media
Chris PerryWeber Shandwick Digital
Much has been made about how social disrupts media. Far less so on how it impacts our business +/-.
Let’s bust a myth at the open. The best things in [business] life are far from free. The same goes for social media.
Why some are talking up social business as much as social media
How you plan, organize, staff, implement and refine social media programs can have big impact on financials.
Fundamental questions that impact economics around social programs
QUESTION #1 [and #1b}
Who owns it…how is focus defined by discipline?
Marketing/brand
PR
Product
Customer service
All of the above
QUESTION #2
What exactly is being owned?
Social media is an
umbrella term take many different forms including magazines, forums, blogs, wikis, video, tumblr, wikis, ratings and more.
How it is [properly] applied should be anything but.
QUESTION #3
What is your process for briefings/budgeting?
Tactical support?
Campaign execution?
Ongoing community
mgt.?
Content operations?
Operations overhaul?
QUESTION #4
How do you manage an SOW when social is a fluid operation?
QUESTION #5
How are you accounting for escalating premium for talent?
Monetizing [Meaning Economics] of Social Media
Chris PerryWeber Shandwick Digital
Igniting Opportunities: Measuring and Monetizing Social Media
April 25, 2012
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