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Jamie Turner, co-author of "How to Make Money with Social Media" presented these slides at SXSW in March of 2011. If you're looking for more information on social media case studies, social media ROI or social media best practices, you'll find it here.
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How to Make Money with Social Media
Jamie TurnerCo-author, “How to Make Money with Social Media”
Chief Content Officer, BKV’s 60 Second Marketer
Hash Tag: #SocialROI
Introductions: Jamie Turner
• Co-author of How to Make Money with Social Media available at fine bookstores (and a few crappy ones, too)
• Worked with AT&T, CNN, The Coca-Cola Company, Cartoon Network and other major brands
• Chief Content Officer of BKV’s 60 Second Marketer
• Regular contributor on Mashable
Hash Tag: #SocialROI
Why People Buy Stuff
Why People Buy Stuff
How People Buy Stuff
Female Brain Male Brain
How the Fortune 500 Make Money with Social Media
Social Media Business ModelsBranding: Use social media as a branding tool to build awareness and connect with customers
Social Media Business Models
E-Commerce: Drive prospects to an e-commerce landing page and convert those prospects to customers
Social Media Business Models
Research: Use social media as a research tool to generate customer input and feedback
Social Media Business Models
Customer Retention: Use social media as a customer retention tool to reduce churn
Social Media Business ModelsLead Generation: Drive leads to a website and re-market to those leads, ultimately converting them to customers
E-Newsletter Email MarketingYouTube Channel
Speeches
Live Events
Virtual Events
Webinars
eBooks
Forums
Mobile Apps Blog Postings
Your Company
The Social Media ROI Cycle
The Social Media ROI Cycle
Source: Jamie Turner, co-author of How to Make Money with Social Media and Chief Content Office of BKVʼs 60 Second Marketer
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The 3 Stages of the Social Media ROI Cycle Setting up, running and optimizing an effective social media campaign happens in three stages:•Stage 1: Launch•Stage 2: Management•Stage 3: Optimization
The Social Media ROI Cycle
Source: Jamie Turner, co-author of How to Make Money with Social Media and Chief Content Office of BKVʼs 60 Second Marketer
Launching the Big 4
Stage 1: Launch•Approach: Executional•Focus: Short-Term•Objective: To Have a Social Media Presence•Results: Negligible
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The Social Media ROI Cycle
Source: Jamie Turner, co-author of How to Make Money with Social Media and Chief Content Office of BKVʼs 60 Second Marketer
Stage 2: Management•Approach: Tactical•Focus: Mid-Term•Objective: Customer Engagement•Results: Increased Traffic
Big 4 plus More
Creative
Quant.
Qual.
New initiatives
The Social Media ROI Cycle
Source: Jamie Turner, co-author of How to Make Money with Social Media and Chief Content Office of BKVʼs 60 Second Marketer
Stage 3: Optimization•Approach: Strategic•Focus: Long-Term•Objective: Social Media ROI•Results: Revenue Growth
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New initiatives
Big 4 plus More
Creative
Quant.Qual.
Conversion/ Optimization
ROI
Where is Your Company?
Stage 1: LaunchStage 2: Management Stage 3: Optimization
How to Measure the ROI of a Social Media Campaign
Calculating Customer Lifetime Value
The revenue generated by a customer during his or her lifetime with your brand.
CLV for Scott’s Lawn Care:
$80 per month x 12 months x 3.0 years
CLV = $2,880
Allowable Cost Per Sale:
$2,880 x 10% = $288
Calculating Customer Lifetime Value
Scott’s Direct Mail:
200 pieces x 0.5% = 1 new customer
$1.44 per piece x 200 = $288
Allowable Cost Per Sale = $288
1 customer for every $288 spent
Scott’s Annual Direct Mail Spend:
$2.8 million = 2 million pieces x 0.5% = 10,000 new customers per year
Calculating Customer Lifetime Value
Testing Direct Mail vs. Social Media
$2.8 million x 10% = $280,000 to test a social media campaign
Social media campaign costs:Labor: $140,000
Production: $100,000 Miscellaneous: $ 40,000
Total: $ 280,000
Social media success:
$280,000 spent in direct mail = 1,000 new customers$280,000 spent in social media = ?
What’s Next?
To Learn More, Google “Jamie Turner”
How to Make Money with Social Media now available at fine bookstores (and a few crappy ones, too).
Follow me here:
60SecondMarketer.com/blog
@60SecondTweets
Contact me:
Jamie.Turner@60SecondMarketer.com
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