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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
Eric Schwartzman, coauthor
“Social Marke6ng to the Business Customer”
@ericschwartzman #PRSAIcom
What’s the ROI?
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Intangible Assets Have Real Value
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Expenses vs. Assets
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Phone
On Air
Digital
On Demand
Social Networks
5
Digital Breadcrumbs: Discoverable and Shareable
2 Types of Return…
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Your Expert Answering Ques6ons, Selling or Improving the Customer Experience
MP3 Podcast
Text Transcript Blog Post
PowerPoint SlideShare
Video Webcast & YouTube
Archived OrganizaPonal Intelligence is an Asset
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Intangibles of Velocity and ProducPvity
Case Study: hOp://ontherecordpodcast.com/chaOer
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ROI of Social Business 8
• 73 blogs
• 17 bloggers
• 600% jump in leads
• Top quality
Case Study: hOp://ontherecordpodcast.com/emerson
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Not Only Do Blogs Work Best in B2B…
2011 State of Inbound Marke6ng Study
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Blogs are also Least Expensive
2011 State of Inbound Marke6ng Study
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Stay Behind the Line! 11
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Public vs. Private 12
Resource: www.SocialMediaPolicyTemplate.com
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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."
hVp://money.cnn.com/2008/09/03/technology/forV_dell.fortune/
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Page 14
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Page 15 7 Steps to Social Media ROI
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
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Page 16 ROI EquaPon
ROI = COST
(GAIN -‐ COST) X 100
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Sefng Goals
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$257
$106
$35
$35
$5
$10
$5
$5
$477 Per Day $14,310 per month
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ROI of Organic Search Traffic
157% = $3000
($7,710 -‐ $3,000)
ROI = COST
(GAIN -‐ COST) X 100
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ROI of Social Media
$1694
$499
$208
$326 $87
$477 Per Day $14,310 per month
$410
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Sefng Funnels
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Funnel VisualizaPon
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Intangible B2B Measure to Monitor
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MulPvariate Website TesPng
Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp
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BuVon VariaPons
Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp
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Media VariaPons
photos
videos
Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp
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Sign Up Rates by Variant
4 buOons and 6 media op6ons
Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp
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Sign Up Rates by CombinaPon
4 buOons x 6 media op6ons = 24 combina6ons
Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp
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Winning Combo
Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp
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ROI of MulPvariate Test
Original Sign-‐Up Rate 8.26%
Winner Sign-‐Up Rate 11.6%
Increase from Test 40.6%
Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp
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ROI of MulPvariate Test
Campaign Sign-‐Ups 10,000,000
Improvement of… 2,880,000
Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp
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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
Source: hOp://blog.op6mizely.com/how-‐obama-‐raised-‐60-‐million-‐by-‐running-‐an-‐exp
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Page 34
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Beyond Last Click AVribuPon
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What’s Next? ROI through Social Media AnalyPcs
Cairo Speech “Obama” Peak “Freedom” Peak
hOp://www.radian6.com/
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But It’s Also About Lead Nurturing
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Phase 1
• Social Media Monitoring • Social Media Mapping
Phase 2
• Social Media Par6cipa6on • Social Media Engagement
Phase 3
• Social Media Management • Social Media Marke6ng
Phase 4 • Measure and Evaluate the Results
Gefng Started with B2B Social MarkePng
38
AcPvity Tool
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Thank You
www.EricSchwartzman.com
(310) 455-‐4000
@ericschwartzman
www.B2BSocialMediaBook.com
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