Social Media: More Bang for Your Marketing Buck Presented by Rusty Williams
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About Me
Rusty Williams
Mzinga Sr. Vice President, Business Development 20 years of industry experience
•Co-founder of Prospero Technologies •VP New Internet Ventures, Individual, Inc. •General Manager & VP, Delphi Internet •VP Sales & Marketing, Inforonics rusty@mzinga.com Twitter: @irusty Use #mzinga for tweets during this event Dave Wilkins: @dwilkinsnh monitoring
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But first a word from our Viewers…. “Tweetbowl” Results: Hulu: 1944 Pepsi: 3028 Budweiser: 2865 GoDaddy: 2376 Coke: 2237 Doritos: 2182 GI Joe: 1852 Source: Socialmedia.com
Advertising is the beginning of a conversation MZINGA
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Let’s take a step back… This is about Marketing and Bang for Your Buck
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Customer acquisition & loyalty Market reach
Market research
What do marketers really care about?
Demand Generation
Brand building
Cost per Lead Communication
Target Audience
Public relations Conversion rates MZINGA
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Jane Smith Demographic profile: • Nurse with a college degree • Single • 28 years old • Located in Miami, FL
John Middleton Demographic profile: • Financial manager, MBA • Married • 33 years old • Located in Chicago, IL
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Target Audience
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Social media creates a whole, new context
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Was born and raised in CA
Time-shifts shows with DVR Uses RSS to track news and favorite blogs
Jane Smith Demographics: • Nurse with a college degree • Single • 28 years old • Located in Miami, FL
Member of International Nursing Association Red cross volunteer UMiami Alum
Music enthusiast with a personal blog • 210 Facebook friends • 547 Twitter followers • 152 LinkedIn connections • 45 favorite bands on iLike
1,346 posts
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Social Marketing
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It’s Word of Mouth marketing on steroids… (for a better return)
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Buzzwords •
Social Graph
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Nodes of Influence
• “Personal CPM”
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But how do you measure the value & investment?
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The research has already been done. Customers who use community & social media to engage with businesses‌
Spend 54% more than non-community users Report good experiences in forums 2x more often than in calls or mail Remain customers 50% longer than noncommunity users
Source: Forum One Networks 2007
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According to Forrester Research, social media helps build brand loyalty & trust
25% of US online adults visit the social media site of a favorite brand.
52% report being
positively influenced by the consumer-generated content—and will pass that on. In fact, they are 2X as active influencing the community at large via MySpace, Facebook, etc.
Source: “Recession Marketing,” Forrester Research, 2008.
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89% of Best-in-Class companies improved customer satisfaction through the use of externally facing Web 2.0 applications‌
63% improved product planning.
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More efficient market research Traditional Focus Group Significantly Lower Costs Increased Productivity
Online Research Community
Cost is ≤ 3 traditional focus groups
$8,000 to $15,000
(supporting many more research events)
per individual focus group
2 weeks
to hold 12 focus groups in 6 cities
to hold 12 online research community activities with no travel required
More cost-effective customer support Customer support Cost Per Interaction
Contact Center
Self-Service Support (i.e. Online Community)
$12.00
$.25
98% lower avg. cost per interaction via self-service methods
2006, Forrester
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What do marketers also care about now…?
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Connecting. Conversations. Relationships. (But how do you get started?)
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Like anything worth doing, it takes a strategy‌
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And measurement of metrics…
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And influence…
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And taking lessons from others like these guys‌
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Building Customer Loyalty
Target Audience: Sync product customers Goal: Provide efficient customer support Moderation: Pre-moderation to comply with strict auto regulations Social Technologies: •Discussion forums •Integrated profile avatars Results: •10k members since April 2008 •Decrease in support calls •Product market research •More than 1M message views
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Increasing Brand Credibility
Target Audience: Environmental professionals, including EDR customers & partners Moderation: Response moderation to keep conversation on topic Social Technologies: •Blogs •Discussion forums •File sharing •Podcasts Goal: Establish EDR as the go-to resource for environmental risk information & establish dialogue with customers
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Peer Support
Target Audience: Amway Global’s Independent Business Owners (IBO), consumers and employees. Objective: To connect, inspire and motivate those interested in weight loss or weight management. The community allows participants to learn from experts and share experiences. Social Technologies: •Discussion forums •Expert blogs •Member journals •Profiles •Success stories Results: Thousands of members connecting online, providing support and advice. Helping to increase visibility, customer satisfaction and sales.
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And even this guy…
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Increasing Market Reach
Target Audience: All US voters and potential voters Social Technologies: •Blogs •Videos •Mobile Apps •Facebook Site •Twitter Goal: Build a brand and extend market reach exponentially Results: •13M person social network •1.3M volunteers •750M in fundraising •4.6M Facebook friends •144,000 Twitter followers •US Presidency
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Time for a conversation?
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Recommended Resources
thelongtail.com wearesmarter.org barackinc.com amazon.com
mzinga.com
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blogs.forrester.co m
#1 IN ON-DEMAND SOCIAL SOFTWARE l www.mzinga.com l February 2009
Thank You! Rusty Williams
Mzinga Sr. Vice President, Business Development rusty@mzinga.com Twitter: @irusty
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#1 IN ON-DEMAND SOCIAL SOFTWARE l www.mzinga.com l February 2009