More Bang for Your Marketing Buck

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


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


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


Let’s take a step back…

This is about Marketing and Bang for Your Buck

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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?


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


Social media creates a whole, new context

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MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l 8

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


It’s Word of Mouth marketing on steroids…

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(for a better return)


Buzzwords• Social Graph

• Nodes of Influence

• “Personal CPM”


But how do you measure the value & investment?

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MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l12

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.


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.

MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l14

89% of Best-in-Class

companies improved

customer satisfaction

through the use of

externally facing Web 2.0

applications…

63% improved product

planning.


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


What do marketers also care about now…?

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Connecting. Conversations. Relationships.

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(But how do you get started?)


Like anything worth doing, it takes a strategy…


And measurement of metrics…


And influence…


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


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


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


And even this guy…

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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


Time for a conversation?

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Recommended ResourcesRecommended Resources


wearesmarter.orgbarackinc.comamazon.com

blogs.forrester.com

thelongtail.com

mzinga.com


Thank You!Thank You!


Rusty WilliamsMzinga Sr. Vice President, Business Development

[email protected]: @irusty

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More Bang for Your Marketing Buck