Expion jan 2013 jim tobin
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Jim Tobin walks through how to integrate social media successfully into your marketing initiatives with metrics.
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Expion jan 2013 jim tobin
- 1. Value of Organic Social Media Marketing Jim Tobin
- 3. About Social Media “ROI” http://bit.ly/IgROIVideo
- 4. Six models of social media marketing ROI • The Amplification Model: – how much would it cost to buy these impressions/social actions through paid media? • Value of Social Traffic versus Display: – how much does it cost to get a visitor to your site via social promotions versus display advertising? • Quality of Visitors from Social Media: – how well do the visitors being driven to a site via social media perform? • Revenue from Facebook Fans Model: – how much incremental revenue do Facebook fans generate? • Revenue from Social Media Marketing: – how many sales can be attributed to your social media marketing programs? • Social Promotions Sales ROI: – how many sales can be attributed to a special social media marketing promotion?
- 5. The Amplification Model Calculates the value of the following: 1) Facebook Organic Impressions 2) Clicks on Facebook Links 3) Twitter Impressions 4) Clicks on Twitter Links 5) Organic YouTube Views 6) Blog Page Views 7) Online Brand Impressions Using Data from: A) Industry data on CPM for targeted online buys ($8 CPM) B) Industry average for cost-per-click advertising ($0.58 per click) C) Average cost per view for promoted YouTube videos ($0.20 per view) D) Parts of “Social Equivalent Ad Value Model” created by Tourism Ireland (http://scr.bi/KjPwEd) In a given time period, we generated: 1) 75,442,874 Organic Impressions (Facebook and Twitter only) 2) 4,849,246 Social Actions (Links clicked, brand mentions, organic YouTube views, blog page views) With a value of: • $2,021,627.27 On a spend of: • $1,660,000 (Agency fees and all expenses) For a Purchase Equivalency of: • $1.21 for every $1 spent
- 6. Value of Social Traffic versus Display http://www.ignitesocialmedia.com/social-media-stats/social-media-campaigns-vs-banner-ads/
- 7. Quality of Visitors from Social Media Description Display Social Delta Pages per Visit 1.57 2.84 Social = 1.8x more visitors Time on Site 0:40 2:18 Social = 3.45x more time on site Bounce Rate 81.40% 45.46% Social = 44% lower bounce rate Goal Conversions 3,098 12,603 Social = 4x more goal conversions
- 8. Revenue from Facebook Fans Model • Social media is great at driving vast amounts of conversation. Conversation that gets seen. • Facebook fans are better advocates, and better customers, than non-fans. Description Number Notes Net New Facebook Fans 283,786 For a year % Likely to Consider, Fan 69% Blackberry is closest analogous brand in this case % More Likely to Purchase Since Becoming a Fan 16% Conservative estimate from the 2011 Chadwick Martin Bailey Consumer Pulse Price of Product $250 Fictitious, changed from actual client example Purchases per Year 0.33 Fictitious, changed from actual client example # of New Facebook Fans Who Are New Customers 31,330 New Fans * % Likely to Purchase * % More Likely to Purchase Since Becoming a Fan Total Estimated Revenue (Year) $2,584,722.89 New Fans Who Are New Customers * Price of Product * Purchases per Year 55% 53% 36% 37% 0% 10% 20% 30% 40% 50% 60% Brand A Brand B Likely to Buy Same Brand Again Source: Facebook Owner + Fan Owner, Not Fan
- 9. Revenue from Social Media Marketing Number Notes Visitors to Goal Pages 4,830,827 In a given time period Products Sold 345,324 For the same time period Goal Pages/Sale: 13.989 Social Media Traffic to Goal Pages 27,716 Visitors from social networks, blogs, etc. who landed on one of the goal pages in the time period Products “Sold” Through Social 1,981 Social media traffic to goal pages / (goal pages/sale) Average Sales Price per Product $135 Revenue during the period / unit sales during the period Revenue from Social “Sales” $267,435 Products “Sold” x Average Sales Price Cost of Social Media Marketing $97,500 For the same time period ROI $1.74 (Revenue – Cost) / Cost
- 10. Social Promotions Sales ROI Number Notes Total Cost of Promotion $195,404 Including ads # of Goal Page Completions 34,812 Use actual if it can be tracked with tracking links. If not, measure “above baseline” during tracking period. Counting unique visitors would be best. Goal Pages per Sale 13.989 From model above Products “Sold” Through Social 2,489 Goal page completions / goal pages per sale Revenue from Social “Sales” $336,015 Products “Sold” x Average Sales Price of $135 ROI $0.72 (Revenue – Cost) / Cost
- 12. Balanced Approach A driver and amplifier of growth and reach Paid Earned Owned Amplified Success The social current that carries the message Both a driver and benefiter of social efforts Ignite takes over 93:1 ROI Paid
- 13. Organic Exposures Are Better 76% Lift 28% Lift
- 15. 55% Lift No Lift Organic Exposures Are Better
Notas del editor
- There’s a lot of logo’s on this slide, many of whom I’m sure you recognize. But the point is, We work primarily with large, highly visible brands: Companies with significant regional, national and international reach, such as P&G, have needs, concerns, and challenges that differ significantly from small shops and startups. Your actions in social media are under a different magnitude of microscope, and your projects and campaigns are subject to much more extensive internal approval processes and external scrutiny. We understand that, and live it with clients just like you daily.