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Social media has changed business but business is also changing the way we do social media. How do you measure, monetize and optimize social interactions in a business environment? Look no further than your marriage. This presentation from the WCG Social Commerce event at SXSW 2013 explores how ROI can come from the most important places.
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PUT ARINGON IT
@adriandparker
Moving Beyond Social Engagement
In a perfect business world all
relationships would fit into a
sales funnel
In a perfect business world all
relationships would fit into a
sales funnel
What if my marriage was a sales funnel?
April 2007
Awareness
Interest
Evaluation
Commitment
Loyalty
Advocacy @adriandparker
Identified contact at Ovation Jazz Club in Fort Worth, Texas
August 2007 – November 2008
Awareness
Interest
Evaluation
Commitment
Loyalty
Advocacy @adriandparker
Qualified lead into prospect through series of light weight interactions
November 2008
Awareness
Interest
Evaluation
Commitment
Loyalty
Advocacy
Prospect converted into high potential opportunity with start of trial period
@adriandparker
November 2008
Awareness
Interest
Evaluation
Commitment
Loyalty
Advocacy @adriandparker
Initial product demo
January 2009
Awareness
Interest
Evaluation
Commitment
Loyalty
Advocacy @adriandparker
Consideration continued with significant funnel milestones achieved
July 2009
Awareness
Interest
Evaluation
Commitment
Loyalty
Advocacy @adriandparker
Desire for purchase intent continued to peak through various engagements
February 2010
Awareness
Interest
EvaluationCommitmentLoyalty
Advocacy @adriandparker
Successful conversion via verbal commitment: end of acquisition campaign
October 2010
Awareness
Interest
Evaluation
Commitment
Loyalty
Advocacy @adriandparker
Contract executed
March 2013
Awareness
Interest
Evaluation
Commitment
Loyalty
Advocacy @adriandparker
Renewal campaigns successful:Creating ambassadors
Awareness
Interest
Evaluation
Commitment
Loyalty
Advocacy
How do you measure the ROI of each activity?
Pre-purchase
Post-purchase
@adriandparker
Pre-purchase
Post-purchase
Awareness
Interest
Evaluation
Commitment
Loyalty
Advocacy
Option 1: Last Touch Attribution Model ROI %
0%
0%
100%
0%
0%
0%
@adriandparker
Pre-purchase
Post-purchase
Awareness
Interest
Evaluation
Commitment
Loyalty
Advocacy
Option 2: First Touch Attribution Model ROI %100%
0%
0%
0%
0%
0%
@adriandparker
Pre-purchase
Post-purchase
Awareness
Interest
Evaluation
Commitment
Loyalty
Advocacy
Option 3: Multi-Touch Attribution Model ROI %33.3%
33.3%
33.3%
0%
0%
0%
@adriandparker
Social Commerce ChallengeLast Touch First Touch Multi-Touch
Awareness
Pre-Purchase
Post-Purchase
Awareness
Pre-Purchase
Post-Purchase
Awareness
Pre-Purchase
Post-Purchase
Standard attribution models discount value of social and post-purchase interactions @adriandparker
How do we translate subjective social interactions into objective business outcomes?
Social Commerce Challenge
@adriandparker
4 Ways To Put A Ring On ItRelationship
ToolsBusiness Tools
SystemsEnhanced CRM & Tracking Tools
MemoriesCelebrations & Milestones
1
SEE
2ListeningSpousal Feedback
FeedbackSurveys, Net Promoter
SAY
3 ResearchMarketing Mix Modeling, CBA
ObservationsPeer Observation & Testimonials
DO
4 RecommendationsRatings, Reviews & Referrals
TrustPartner Collaboration
BELIEVE
“Care and Converse”
“Care and Convert”@adriandparker
THANKS
@adriandparker
Will you marry me?
