ROI of B2B Social Media
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Eric Schwartzman (http://ericschwartzman.com) delivers a session on the ROI of B2B Social Media at the PRSA International Conference in Orlando on Oct. 17, 2011
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ROI of B2B Social Media
- 1. ROI of B2B Social Media Eric Schwartzman, coauthor “Social Marke6ng to the Business Customer” #PRSAIcom @ericschwartzman
- 2. What’s the ROI? #PRSAIcom @ericschwartzman
- 3. Intangible Assets Have Real Value #PRSAIcom @ericschwartzman
- 4. Expenses vs. Assets #PRSAIcom @ericschwartzman
- 5. 2 Types of Return… 5 On Air On Demand Print Digital Digital Breadcrumbs: Discoverable and Shareable Phone Social Networks #PRSAIcom @ericschwartzman
- 6. Archived OrganizaPonal Intelligence is an Asset Video Webcast & YouTube PowerPoint SlideShare Text Transcript Blog Post MP3 Podcast Your Expert Answering Ques6ons, Selling or Improving the Customer Experience #PRSAIcom @ericschwartzman
- 7. Intangibles of Velocity and ProducPvity #PRSAIcom Case Study: hOp://ontherecordpodcast.com/chaOer @ericschwartzman
- 8. 8 ROI of Social Business • 73 blogs • 17 bloggers • 600% jump in leads • Top quality #PRSAIcom Case Study: hOp://ontherecordpodcast.com/emerson @ericschwartzman
- 9. Not Only Do Blogs Work Best in B2B… #PRSAIcom 2011 State of Inbound Marke6ng Study @ericschwartzman
- 10. Blogs are also Least Expensive #PRSAIcom 2011 State of Inbound Marke6ng Study @ericschwartzman
- 11. 11 Stay Behind the Line! #PRSAIcom @ericschwartzman
- 12. 12 Public vs. Private #PRSAIcom Resource: www.SocialMediaPolicyTemplate.com @ericschwartzman
- 13. Control Conversions, not the Message The first step was to add blogs and message boards in the hope that irate customers will talk to the company rather than gripe to the whole Internet. "If we don't do that at Dell.com, it's going to be on CNET or somewhere," Michael Dell says. "I'd rather have that conversa6on in my living room than in somebody else's." #PRSAIcom hVp://money.cnn.com/2008/09/03/technology/forV_dell.fortune/ @ericschwartzman
- 14. Page 14 #PRSAIcom @ericschwartzman
- 15. 7 Steps to Social Media ROI Page 15 1. Define the “R” – What are expected results? 2. Define the “I” -‐-‐ What’s the investment? 3. Understand audiences and what mo6vates them 4. Choose metrics 5. Choose benchmarks 6. Pick a tool and undertake research 7. Analyze results, glean insight, take ac6on, measure again Source: KD Paine & Partners #PRSAIcom @ericschwartzman
- 16. ROI EquaPon Page 16 (GAIN -‐ COST) ROI = X 100 COST #PRSAIcom @ericschwartzman
- 17. Sefng Goals #PRSAIcom @ericschwartzman
- 18. #PRSAIcom @ericschwartzman
- 19. $477 Per Day $14,310 per month $257 $106 $35 $35 $5 $10 $5 $5 #PRSAIcom @ericschwartzman
- 20. ROI of Organic Search Traffic (GAIN -‐ COST) ROI = X 100 COST ($7,710 -‐ $3,000) 157% = $3000 #PRSAIcom @ericschwartzman
- 21. $477 Per Day $14,310 per month ROI of Social Media $1694 $499 $208 $410 $326 $87 #PRSAIcom @ericschwartzman
- 22. Sefng Funnels #PRSAIcom @ericschwartzman
- 23. Funnel VisualizaPon #PRSAIcom @ericschwartzman
- 24. Intangible B2B Measure to Monitor #PRSAIcom @ericschwartzman
- 25. MulPvariate Website TesPng #PRSAIcom Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp @ericschwartzman
- 26. BuVon VariaPons #PRSAIcom Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp @ericschwartzman
- 27. Media VariaPons photos videos #PRSAIcom Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp @ericschwartzman
- 28. Sign Up Rates by Variant 4 buOons and 6 media op6ons #PRSAIcom Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp @ericschwartzman
- 29. Sign Up Rates by CombinaPon 4 buOons x 6 media op6ons = 24 combina6ons #PRSAIcom Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp @ericschwartzman
- 30. Winning Combo #PRSAIcom Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp @ericschwartzman
- 31. ROI of MulPvariate Test Original Sign-‐Up Rate 8.26% Winner Sign-‐Up Rate 11.6% Increase from Test 40.6% #PRSAIcom Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp @ericschwartzman
- 32. ROI of MulPvariate Test Campaign Sign-‐Ups 10,000,000 Improvement of… 2,880,000 #PRSAIcom Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp @ericschwartzman
- 33. ROI of MulPvariate Test 2,880,000 addi6onal email addresses collected 10% volunteered 288,000 more volunteers Dona6on per visitor $60 Addi6onal dona6ons $60 x 2,880,000 = $60,000 #PRSAIcom Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp @ericschwartzman
- 34. Page 34 #PRSAIcom @ericschwartzman
- 35. Beyond Last Click AVribuPon #PRSAIcom @ericschwartzman
- 36. What’s Next? ROI through Social Media AnalyPcs Cairo Speech “Obama” Peak “Freedom” Peak #PRSAIcom hOp://www.radian6.com/ @ericschwartzman
- 37. But It’s Also About Lead Nurturing #PRSAIcom @ericschwartzman
- 38. Gefng Started with B2B Social MarkePng AcPvity Tool • Social Media Monitoring Phase 1 • Social Media Mapping • Social Media Par6cipa6on Phase 2 • Social Media Engagement • Social Media Management Phase 3 • Social Media Marke6ng • Measure and Evaluate the Results Phase 4 38 #PRSAIcom @ericschwartzman
- 39. Thank You www.EricSchwartzman.com (310) 455-‐4000 @ericschwartzman www.B2BSocialMediaBook.com #PRSAIcom @ericschwartzman