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

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Presentation transcript:

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

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

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

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

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 Difficulty With Measuring ROI

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

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

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

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?