Stand Out Social Marketing - FTB Evansville

MONETIZING SOCIAL MARKETING

Mike Lewis
Author of ‘Stand Out Social Marketing’
Vice President of Marketing & Sales
Awareness, Inc.
@bostonmike
mike@standoutsocialmarketing.com

© 2012 Awareness CONFIDENTIAL

Connect Questions via Twitter:
ABOUT ME… #StandOut @bostonmike

• VP of Marketing & Sales at Awareness
• Boston native,father of 2, Entrepreneur
and'marketing guy'
• Active blogger, tweeter, and social media
enthusiast
• Author, Stand Out Social Marketing,
McGraw-Hill, Nov 9, 2012

Blog:
StandOutSocialMarketing.com

Facebook:
Facebook.com/standoutsocial

Twitter:
@bostonmike

THIS IS AN INTERACTIVE SESSION #StandOut @bostonmike

(1) Ask Questions

(2) Tweet me

(3) Visit the blog
(standoutsocialmarketing.c
om)
and search for highlighted
words in this box:


STANDOUTSOCIALMARKETING.COM #StandOut @bostonmike

• Case Studies
• Infographics
• Strategies
• Strategists
• Much More!


#StandOut @bostonmike

The Awareness Social Marketing Hub converts
social interaction into actionable and
monetizable customer relationships

TRANSFORMING THE SOCIAL WEB INTO YOUR Connect Questions via Twitter:
MARKETING DATABASE #StandOut @bostonmike

PUBLISH Hub Difference
Publishing & Engagement:
MONITOR ENGAGE Industry leading content publishing &
Publish to Multiple engagement to social channels with
Social Destinations deep user permissioning& workflow
Prospect for conversations Engage with Prospects functionality
Social Prospecting:
Monitor the social web for prospects and
immediately capture profile data
ACQUIRE PROFILES ABOVE THE FUNNEL
Social Scoring:
Easily create and apply your own
weighting algorithm to the profile
database instantaneously ranking
prospects based on your criteria

Social Books:
Analyze and optimize social programs
and easily distribute reports and
dashbaords
Social Offers:
SCORE Serve up personalized, specific offers
based on social scores
ANDTARGET with
OFFERS Integration:
Close the social marketing loop with
seamless integration with leading
CRM, Marketing Automation, BI and
web analytics tools
CONVERT


MARKET SUCCESS #StandOut @bostonmike

Media & Entertainment Retail/E-Commerce Other

Advertising, Marketing, and PR
Agencies

Telecommunications
Software & Technology

Education & Non Profit

Hospitality & Leisure
Financial Services

TODAY'S SESSION #StandOut @bostonmike

• Driving ROI with Social Scoring
> Targeting Campaigns to Segments & Networks
> Identifying and Targeting influencers
> Leveraging Customers and Advocates
• Calculating Social Marketing ROI
> Social ROMI vs Social ROMO
> 9 Keys metrics and ROI Impact

BOTTOM LINE:
Understand how to Monetize Social
Marketing

A personal story...


ooops...
wrong day!


THE NEXT
DAY...


How’d they
know that?


It was this guy!!!

WHAT I THOUGHT... #StandOut @bostonmike

Just spoke with mike. Wants to
head home to see his son.
Booked him on earlier flight.


Wow!!!

Social Marketing
Automation!!!


WHAT ACTUALLY
HAPPENED...


Not as exciting, but a great story none the less

SO, WHAT’S IT ALL ABOUT? #StandOut @bostonmike


The way we communicate has evolved


Social Media represents the largest shift
in communications in human history


Printing Press Telegraph/Telephon Recordable Media TV
1400‟s e Late 1800‟s 1900‟s
1800‟s


1) Many-to-many pattern

2) A channel for all types of media

3) Your audience is now
the content producer

4) Audience is savvy and moved from
broadcast to dialog

Why are marketers soooo excited about it?


Let‟s take a step back...


How we have been trained
to market?

1: Develop a campaign #StandOut @bostonmike

2: Identify Sources #StandOut @bostonmike

3: Develop Compelling Content & Offers

4: BROADCAST!! #StandOut @bostonmike


and wait...


Social Media is new and unique for marketers

For businesses, marketing through Social

Media is about:

• Data that is driven
by
• Dialog and
• ContextualConten
t within a
• Community

FOR EXAMPLE… LET'S SAY WE ARE SELLING… #StandOut @bostonmike

Traditionally… #StandOut @bostonmike

• Broadcast messages
through multiple channels

• Collect Data and
Demographically target

• Open stores in areas of
audience concentration

• Drive people to online or
offline purchases

Through Social We Would: @bill Need new shoes
for the office party.
What to buy?

• Listen for individuals who show Need shoes? We have the largest
selection & 20% discount so you look
a likelihood of buying great at the party http://bit.ly/45hdf

• Target: month 2 in marathon
training. Feeling better
 Hyper-target individuals with everyday
contextual offers and
content Dude! If you need a new pair of kicks check these out
http://bit.ly/jhgk - We will power you on the big day!
 Identify Contextual

Influencers HUGE ski trip with the guys
 Market to a widget next month! Can’t wait!
enthusiast group on
Facebook Looking for new ski boots? 10% of for you today
http://bit.ly/jhgk
 Contextual groups (or

create one) UGH! I hate back to school
shopping for the kids!

We hate it too... shop online and avoid the hassle... free
returns! http://bit.ly/jhgk

REAL LIFE EXAMPLES #StandOut @bostonmike

The Louisville Real Estate
Agent
IBM Generates Millions by
Listening for Leads
30% conversion rate on
leads sourced via Twitter

TriNet Listens for „events‟ and Roger Smith Hotel attracts
sells software guests


Fundamental Difference #StandOut @bostonmike

VS


What‟s at the core?


Market Intelligence

SOCIAL BREADCRUMBS #StandOut @bostonmike

Social platforms offer deep
audience insights – the social
“breadcrumbs” people leave
online as they take actions and
post content provide ripe insight
for audience segmentation and
targeting


social scoring = finding prospects & converting them to
High potential to
customers Customer &
buy Influencer Partner Candidate Advocate


HOW DO YOU DO IT? #StandOut @bostonmike


THE BIG THREE OF MONETIZING SOCIAL MARKETING #StandOut @bostonmike

Social Prospecting

Automated Social Profile Collectio

Social Scoring


SOCIAL PROSPECTING #StandOut @bostonmike

Pay attention to the conversations and actions
that demonstrate a liklihood of sale. Identifying
buying signals and listen for them.

Example: Pella Windows

IMPLICIT VS EXPLICIT BUYING SIGNALS #StandOut @bostonmike

Example: Pella Windows

Explicit Implicit
“Looking to buy
new windows. “Ugh… I can‟t get
Anyone have this draft to stop!
experience with It‟s cold in here!”
Pella?”
“What is the Just starting work
cheapest place to on the new
buy new windows?” addition!
Just bought the
“Looking for a
new house and am
recommendation
getting ready to
on windows…”
move next week!!

SOCIAL PROSPECTING #StandOut @bostonmike
Identify
prospects and
customers
across the social
web

Example
The 2012 Super Bowl Host
Committee identified and
assisted fans in the
Indianapolis area for the
big game. A team of 50
managed all interactions
resulting in $3.2M in value
to NFL.

SOCIAL PROFILE COLLECTION #StandOut @bostonmike

Collected the publically available profile information on the individuals
engaging in your specific conversations.

Engagement on brand
owned social destination

Participation in
Public Posts and actions
Facebook contests,
on Social Networks like:
Downloads, et

Social Profile


SOCIAL PROFILE =PAINTING A PICTURE OF YOUR Connect Questions via Twitter:
PROSPECT #StandOut @bostonmike

• Are they talking about topics we
care about?
> Location, time, who they are talking
to, who are they talking about, what is
their influence?

• Are they engaging with our
content? Social Profile
> Do they know about us, sentiment,
frequency, date, time, what content
did they react to

• Did they participate in our
Contest and Apps
> Did we get permission to see more
profile data?
> Did they share their participation with
their friends

CAPTURE PROFILE DETAILS #StandOut @bostonmike
Gain an intimate
view of the
individuals that
make up your Traditional: 7 fields
collected vs. Social: 100+ fields collected

audience Social Profile
Studied at Harvard (2006) and Virginia (1999)
Amplified Reach: 23,402,725
Influence Themes: Venture Capital, Investing, Entrepreneurship
Other: Fans of 80’s comedies, Political satire television
Example Politics Democrat
Married, Mom
The American Cancer Interests: TaskRabbit, Kat Von D, Twix, colorTHEORY, GameChanger,
Society collects detailed Charleston - TravelTell, BillShrink, Drync, Daily Grommet, Elizabeth
'Tina' Fey, Viximo, Mozes, Clothia, Haute Hanger, Obey Giant, Boston
profile information on all Ballet, Independent Film Festival Boston, Currensee.com, Spring
interactions across the Paddocks, LLC, Stratus Prep, Mars Bars, Awareness, SimpliSafe,
Barack Obama, Women 2.0, ALS/Lou Gehrig’s Disease, Independent
social web. To date they Film Festivals, Boston World Partnerships, Style.ly
Tweets: Dec 14: #MIT100K accelerator kickoff...they're describing a
have collected over 1M+ design charette, 'hackathon' type design help for teams. Great idea.
and use data to identify Facebook Posts and Comments: Dec 4: Cassius. 10 years old
yesterday/today, depending on when you count. Took a nice romp
donors and volunteers. around the southend this morning. Still got it.

THINK OF TRADITIONAL MARKETING #StandOut @bostonmike


Social Prospecting


Social Prospecting

Engage


Social Prospecting

Engage Campaigns

SOCIAL SCORING #StandOut @bostonmike

Develop a scoring criteria that is dynamic and identifies individuals based
on actions over time.


DEFINE A PATH TO PURCHASE #StandOut @bostonmike

TRACKING BEFORE DIRECT ENGAGEMENT


BUILD A BEHAVIORAL SCORE MODEL #StandOut @bostonmike


SOCIAL SCORING IN ACTION #StandOut @bostonmike

+10 points
Visited page

+10 points
“Any recommendations
for product?”

+5 points
Prospective JoinedFacebookpag
buyer e

+5 points
“looking to buy
something…”


HYPER-TARGETED MARKETING CAMPAIGNS #StandOut @bostonmike


SCORING SUMMARY #StandOut @bostonmike

• People may fall into multiple lists and categories
> This may result in multiple scores. For example:

Name Email Influence Score (Category 1) Buyer Score Influence Score (Category 1)
Sal Giliberto Sal.giliberto@ 46 19 53

Dave Carter DC@ 83 10 61

Steve Tremblay Steve@ 22 53 7

Brian Zanghi brian@ 38 25 83

Melissa Leffler ML@ 14 73 22


SCORING ACTIONS #StandOut @bostonmike

Present list of XXX
leads to sales team
by region

Identify top
influencers and
offer a badge


BENEFITS OF SOCIAL SCORING #StandOut @bostonmike

• The social web is becomes your marketing database
> Identify buyers, prospects and leads
> Tier your prospect list and database based on your rules
> Target very specific groups and/or individuals for conversion

• Define influence on your terms!
> Define influence as it pertains to your company

• Understand the customers you have and uncover the
ones you don't



SAMPLE
CAMPAIGNS

FOILED CUPCAKES #StandOut @bostonmike

94%
of sales come through


EXAMPLE > #StandOut @bostonmike

• Jeep Example…
Monitor the social Capture Leads & Score Leads and Convert Social Leads
web for buying intent Social Profiles Target with Offers to Revenue

$
Monitor Score leads based on
conversations Capture and tag the conversation,
occurring across the profiles of individuals engagement and
social web that engaging in the profile and target Tracked detailed
indicate a buying conversations with marketing conversion metrics at
intent. offers. the content and
Pull all related profile level
Jeep looks for implicit profiles, store and Score based on
& Explicit data; life route to dealers demographic and
events profile data.


INFLUENCER CAMPAIGN> FORD FIESTA #StandOut @bostonmike

• Ford gives 100 Social
Influencers Euro Version of the
Fiesta

• Asked to track Missions via
video and upload

• 6.5 Million views of Missions
result in 10,000+ Cars in first 6
days


THE WIZARDING WORLD OF HARRY POTTER #StandOut @bostonmike

7 = 350M



MEASURING ROI

SOCIAL ROMI VS SOCIAL ROMO #StandOut @bostonmike

SOCIAL ROMI SOCIAL ROMO
Return on Marketing Investment Return on Marketing Objective
Overall social marketing contributions to Specific social marketing contributions to
the business over time (usually year-over- customer engagement and sales (usually
year) campaign based and short term)


SOCIAL ROMI VS SOCIAL ROMO #StandOut @bostonmike

SOCIAL ROMI SOCIAL ROMO
Return on Marketing Investment Return on Marketing Objective

Add All Marketing Calculate Lead Gen
Expenditures Effectiveness

Determine Contribution to Results Determine Contribution to Results

Calculate ROMI


8 ROI RELATED METRICS #StandOut @bostonmike

Conversions
Easiest Implementation = Link Append
1. Create appended URL:
http://mycompany.com/?q=LeadSource&fn=Link
2. Mask with vanity or bit/ly
3. Send through appropriate channel
Reach &
• Reach = SUM(Fans, Followers, Subscribers)
Relevance
• Reach Velocity = Social Reach growth Month-Over-Month

Interactions
• Interaction = SUM(shares, likes, retweets, @replies,
comments, favs, etc)
• Interaction Velocity = Social Reach growth Month-Over-Month
See also – Author Int Rate, Content Int Rate, Theme Int Rate

Activity Ratio
• Activity Ratio = # of Interactions / Social Reach
• Active Audience Ratio = # Active Audience Members / Social
Reach


8 ROI RELATED METRICS (CONT.) #StandOut @bostonmike

Content Effectiveness
•Comment-to-Content Ratio
•Comment-to-Profile Ratio
•Content-to-Share Ratio

Brand Sentiment
•Audience Sentiment
•Contributor Sentiment
•Content Sentiment
•Author Sentiment

Inbound Links
•Total Number
•Authority Domains

Influence
•Influencer Score
•Influential topics/areas


TAKAWAY'S #StandOut @bostonmike

1. Pay Attention

2. Interact & Engage

3. Know your audience, intimately

4. Follow the big 3 of Monetizing Social

5. Optimize & Improve with Social ROMI & Social ROMO



Mike Lewis
Author of „Stand Out Social Marketing‟
Vice President of Marketing & Sales
Awareness, Inc.
@bostonmike
mike@standoutsocialmarketing.com

Stand Out Social Marketing - FTB Evansville

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