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Buddy Media DLD Keynote: How Social Media Influences Consumer Behavior

Buddy Media DLD Keynote: How Social Media Influences Consumer Behavior

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Published by Buddy Media
Buddy Media founder and CEO Michael Lazerow's 2012 DLD keynote presentation. Along with comScore Co-Founder and CMO Linda Abraham, Michael delivered brand new research around social marketing for the 2011 holiday retail season. This data gives a good sense for the way social media strategies helped both overall social impressions and the bottom line for four of the world’s biggest retailers.

Below are the highlights of the data released for Walmart, Best Buy, Target and Amazon:

The research analyzed paid media versus earned media for the above retailers. The data shows that earned social media impressions can stack up favorably against paid ads for brands who maximize their efforts. Using an estimated value for earned impressions of $3.55 CPM, Walmart earned $417,000 worth of impressions while Best Buy earned $86,000 in impressions.

Promotions can significantly expand the viral impact of social media to friends of fans. When looking at the lift received from promotions that started in November, all four brands received a lift of 2.2x or higher. Target received the highest lift between October and the end of November at 3.5x.

For most retailers, a significantly higher percentage of fans and friends of fans visited the retailer’s website, as compared to the rest of the Internet. A whopping 64% of Amazon’s fans visited Amazon.com, compared to 27% of the total Internet. For Best Buy, 18% of fans and 13% of friends of fans went to BestBuy.com, compared to 8% of the total Internet.
Buddy Media founder and CEO Michael Lazerow's 2012 DLD keynote presentation. Along with comScore Co-Founder and CMO Linda Abraham, Michael delivered brand new research around social marketing for the 2011 holiday retail season. This data gives a good sense for the way social media strategies helped both overall social impressions and the bottom line for four of the world’s biggest retailers.

Below are the highlights of the data released for Walmart, Best Buy, Target and Amazon:

The research analyzed paid media versus earned media for the above retailers. The data shows that earned social media impressions can stack up favorably against paid ads for brands who maximize their efforts. Using an estimated value for earned impressions of $3.55 CPM, Walmart earned $417,000 worth of impressions while Best Buy earned $86,000 in impressions.

Promotions can significantly expand the viral impact of social media to friends of fans. When looking at the lift received from promotions that started in November, all four brands received a lift of 2.2x or higher. Target received the highest lift between October and the end of November at 3.5x.

For most retailers, a significantly higher percentage of fans and friends of fans visited the retailer’s website, as compared to the rest of the Internet. A whopping 64% of Amazon’s fans visited Amazon.com, compared to 27% of the total Internet. For Best Buy, 18% of fans and 13% of friends of fans went to BestBuy.com, compared to 8% of the total Internet.

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Categories:Types, Research
Published by: Buddy Media on Jan 22, 2012
Copyright:Attribution Non-commercial

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04/10/2013

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Michael Lazerow,
CEO & Founder 
, Buddy MediaLinda Abraham,
CMO & Co-Founder 
, comScore
How Social Media InfluencesConsumer Behavior 
 
2008200920102011Time Spent on Key Categories Online
W
orldwide Hours per Month (Billions)
353025
Nearly in
5
minutes onlineis spent on social networks.
1
Social NetworkingSearch/NavigationRetailCommunications (Email/IM)Other Content
Source: comScore Media Metrix, March 2007 -October 2011
 
F
acebook¶s worldwide site rank
55%
F
acebook¶s global penetration
Source: comScore Media Metrix, October 2011Source: comScore Media Metrix, October 2011
#3
3
in
4
minutes on social networking sitesare spent on
F
acebook
1
in
7
minutes spent onlineare spent on
F
acebook

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