MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
Presented by Rusty Williams
Social Media:Social Media:More Bang for Your Marketing BuckMore Bang for Your Marketing Buck
www.mzinga.com l February 2009
MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
About Me
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Rusty WilliamsMzinga 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
[email protected]: @irustyUse #mzinga for tweets during this event
Dave Wilkins: @dwilkinsnh monitoring
MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
But first a word from our Viewers….
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“Tweetbowl” Results:
Hulu: 1944Pepsi: 3028Budweiser: 2865GoDaddy: 2376Coke: 2237Doritos: 2182GI Joe: 1852
Source:Socialmedia.com
Advertising is the beginning of a conversation
MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
Let’s take a step back…
This is about Marketing and Bang for Your Buck
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MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
Brand building
Communication
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Cost per Lead
Customer acquisition &
loyalty
Target Audience
Market reach
Conversion rates
Demand Generation
Public relations
Market research
What do marketers really care about?
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Target Audience
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John MiddletonDemographic profile: • Financial manager, MBA• Married• 33 years old• Located in Chicago, IL
Jane SmithDemographic profile: • Nurse with a college degree• Single• 28 years old• Located in Miami, FL
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Social media creates a whole, new context
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Jane Smith
Member of International Nursing Association
Red cross volunteer
UMiami AlumDemographics: • Nurse with a college degree• Single• 28 years old• Located in Miami, FL
Music enthusiast with a personal blog
1,346 posts
Was born and raised in CA
Time-shifts shows with DVRUses RSS to track news and favorite blogs
• 210 Facebook friends• 547 Twitter followers• 152 LinkedIn connections• 45 favorite bands on iLike
Social Marketing
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It’s Word of Mouth marketing on steroids…
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(for a better return)
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Buzzwords• Social Graph
• Nodes of Influence
• “Personal CPM”
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But how do you measure the value & investment?
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Customers who use community & social media to engage with businesses…
Source: Forum One Networks 2007
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 non-
community users
The research has already been done.
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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.
According to Forrester Research, social media helps build brand loyalty & trust
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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Traditional Focus Group Online Research Community
Significantly Lower Costs
$8,000 to $15,000 per individual focus group
Cost is ≤ 3 traditional focus groups (supporting many more
research events)
Increased Productivity to hold 12 focus groups in 6
cities
2 weeksto hold 12 online research community activities
with no travel required
2006, Forrester
More efficient market research
More cost-effective customer support
Contact Center Self-Service Support (i.e. Online Community)
Customer supportCost Per Interaction $12.00 $.25
98% lower avg. cost per interaction via self-service methods
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What do marketers also care about now…?
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Connecting. Conversations. Relationships.
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(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
Goal:Establish EDR as the go-to resource for environmental risk information & establish dialogue with customers
Moderation:Response moderation to keep conversation on topic
Social Technologies:•Blogs•Discussion forums•File sharing•Podcasts
MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
Peer SupportTarget 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.
Results: Thousands of members connecting online, providing support and advice. Helping to increase visibility, customer satisfaction and sales.
Social Technologies:•Discussion forums•Expert blogs•Member journals•Profiles•Success stories
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And even this guy…
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MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
Increasing Market Reach Target Audience:All US voters and potential voters
Goal:Build a brand and extend market reach exponentially
Social Technologies:•Blogs•Videos•Mobile Apps•Facebook Site•Twitter
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 ResourcesRecommended Resources
www.mzinga.com l February 2009
wearesmarter.orgbarackinc.comamazon.com
blogs.forrester.com
thelongtail.com
mzinga.com
MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
Thank You!Thank You!
www.mzinga.com l February 2009
Rusty WilliamsMzinga Sr. Vice President, Business Development
[email protected]: @irusty
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