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Monetizing Social Media. Social Media as the Vehicle … not the Destination + 4 Specific ROI Opportunities. What This Presentation Is Not …. @chasesagum. A holistic and successful approach to monetizing your social media efforts. A Little About Me. 7 years experience in Internet Marketing
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Monetizing Social Media Social Media as the Vehicle… not the Destination + 4 Specific ROI Opportunities
@chasesagum A holistic and successful approach to monetizing your social media efforts
A Little About Me • 7 years experience in Internet Marketing • 2006-07 project manager • 2007-2009 small business owner • 2009-2011 Director of SEO at 1on1 Marketing • Webmaster at AccessData • Married • Utah Valley • I’m a Bare-Foot Ultra Marathon Runner
@chasesagum Truth #1 = Social Media is not a Marketers platform. It’s a Consumers Platform.
@chasesagum Truth #2 = There is no “one-size fits all” strategy. Each business succeeds in Social Media differently.
@chasesagum Truth #3 = Social Media is an amplifier. Good products or services are made to look great. Bad products or services are made to look terrible.
@chasesagum Truth #4 = Social Media and Content Marketing go together… like peanut butter and jelly!
@chasesagum Truth #5 = You don’t have full control of your message. So adapt!
@chasesagum Truth #6 = Differentiation from your competitors is critical
@chasesagum Truth #7 = Your website must Educate, Market and Sell
@chasesagum Truth #8 = Your blog is the hubof your social media presence and strategy.
@chasesagum Truth #9 = Social Media sites are where all the people are
@chasesagum Truth #10 = Trust in traditional advertising continues to erode.
@chasesagum The 3 C’s of Social Media are… • Consumption • Curation • Creation
@chasesagum Authenticity. Nobody likes “fake” people, especially in Social Media.
@chasesagum Automation. Automating your social efforts just enough so you don’t lose authenticity
@chasesagum Analytics & Reporting = how do you really know if Social Media is working for you or not if you’re not tracking your efforts?
@chasesagum ROI = (revenue – investment)/ investment *100
ROI Opportunity #1 = Brand Development @chasesagum
Quick ROI Math • $100,000 in video production • $20,000 in Facebook advertising • August 2011 – 735,000 units sold to Wal-Mart • $1 per unit • Spent $120,000 to make $735,000 • 512% ROI
@chasesagum ROI Opportunity #2 = Social Proof
Quick ROI Math • $500 in social promotion efforts • 1.23% CVR to 2.21% CVR • Went from 26 to 44 units sold • $70 per can of paint • Spent $5,000 to make $1,260 • 152% ROI
@chasesagum ROI Opportunity #3 = Media Buying
@chasesagum Margin = (Revenue – COGS) / Revenue
@chasesagum ROI Opportunity #4 = SEO
@chasesagum In the world of SEO, Social Media acts as a ranking signal telling search engines like Google that “this site isn’t spam and we can prove it!”
@chasesagum Correlate & Isolate SEO Data
@chasesagum Reputation Management
@chasesagum Get your social profiles ranked to improve your reputation online.
How Much Are These Worth To Your Business? • Improved Customer Service (retention) • Testimonials • Traffic Diversification • Learning your customers language • Competitive intelligence • Solid reputation • Continual decrease in online marketing costs over time • Recruiting and hiring new talent • Upsells and Cross-sells
@chasesagum Social Media helps turn prospects into customers, and helps keep customers
3 Golden Questions • What do I want my brand to be known for? • What are my potential customers biggest challenges and how can I help them overcome these? • How much is each individual customer worth to me?
@chasesagum My Soapbox = Focus on Small Wins!
