Social media adoption? Where’s your brand?

Adopting companies are: innovators or early adopters
The Social Media Adoption*
* Adopted from: Crossing the Chasm”, by Geoffrey A. Moore

Most companies are in the Early Majority category • Early Majority are: • Pragmatists • They dislike unpredictability • They need assurances • SHOW THEM: what they’re going to do will work #SMB_LA #SMWLA • They are hard to win over

@DrNatalie

Why is ROI so hard?
It’s a complexity issue… You have to have knowledge of and hold in your mind three things at once…
1. Your traditional business goals & metrics 2. Social media business goals and metrics 3. How social media affect traditional business situations when you apply it

#SMB_LA

#SMWLA

@DrNatalie

#SMB_LA

#SMWLA

@DrNatalie

PR & Marketing Research
Focus Group Vs Online Community

Cost of a Focus Group
12 people = $15K 1 focus group/month x 12 months = $180K

#SMB_LA

#SMWLA

@DrNatalie

Cost of a social media monitoring or an online community $7K=$200K
Result: Continuous, ongoing, direct, authentic, genuine feedback from hundreds or thousands of people that can benefit PR and other departments

#SMB_LA

#SMWLA

@DrNatalie

Product Development and Launch
Insulated prod dev Vs Community co-creation prod dev
#SMB_LA #SMWLA @DrNatalie

Cost of Engineers and Marketing Team
1 engineer costs = $80K 5 engineers x $80K = $240K + Marketing Launch costs…
#SMB_LA #SMWLA @DrNatalie

Cost of a Community
Ask your customers what they want Use social media monitoring to learn

$7K=$100K

Record Sales
#SMB_LA #SMWLA @DrNatalie

Customer Service
Call Center Agents Vs Online Community
#SMB_LA #SMWLA @DrNatalie

Cost of a Agent Salary
1 agent costs = $50K-$80K 200 agents x $50K = 10M

#SMB_LA

#SMWLA

@DrNatalie

Cost of a Community
Engage advocates and experts

$7K=$100K

Happy, Loyal Customers
#SMB_LA #SMWLA @DrNatalie

How to calculate ROI:
1. Determine what department 2. Determine the goals for the department 3. Decide on metrics, monitor & measureboth traditional & social media

#SMB_LA

#SMWLA

@DrNatalie

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