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Managing Your Brand’s Social Life

Managing Your Brand’s Social Life . Kazutoshi Ogami Ashley Delinko BA 499 Section 002. http://www.youtube.com/watch?v=ZQzsQkMFgHE. Social Networks . 16.6% of all online minutes now spent on social networks 1 in 5 couples meet online

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Managing Your Brand’s Social Life

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  1. Managing Your Brand’s Social Life Kazutoshi Ogami Ashley Delinko BA 499 Section 002

  2. http://www.youtube.com/watch?v=ZQzsQkMFgHE

  3. Social Networks • 16.6% of all online minutes now spent on social networks • 1 in 5 couples meet online • If Facebook were a country, it'd be the world's 3rd largest • 93% of markers use social media

  4. The ROI of social media • There is a quantifiable ROI • The truth of the matter is that it's very difficult to measure ROI within social media • No way to calculate the relationship between a dollar investment in a particular activity and the number of likes

  5. Michael Brito • Media-equivalency equations unfortunately lead people astray • Value of a Coca-Cola fan on Facebook or Twitter isn't equal to the value of a BMW fan on them

  6. Difficulty With Measuring ROI • Difficult to determine the value of followership • Brands have to ask very different questions for their social media campaigns • Aspects to consider: • Tracking trust • Purchase decisions influence • Seeking new products • Getting recommendations

  7. Campbell's Kitchen Facebook Mission: get more people to use more Campbells soup products • Every time someone printed a recipe from Facebook • They made it approx 2.5 times, • Used Campbell's soup 1.7 times • This along with market research is critical in evaluating ROI

  8. Tracking Tools Radian 6 • Webtrends • measures facebook and mobile • Twitalyze • measures twitter activity • Google analytics • Sophisticated prodcut (free) • Simply Measured • looks at competitor's engagement to provide benchmarking

  9. Determining success is Difficult "The jury is still out on the value of fan interaction. Most people agree that having a loyal, engaged fan base is a good thing -- how good or how valuable compared to other forms of more institutionalized marketing is still debatable." - Daniel Stein Founder-CEO Evolution Bureau

  10. Discussion Questions • Do you think the U.S. companies should increase the use of social media for business? • Do you think it is effective for companies to use tracking tools such as Twitalyze?

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