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Top Social Commerce Statistics from SocialCommerceToday.com – You Can Monetize Facebook Fans!

December 11, 2011 By 2 Comments

When I was writing the book, Like My Stuff: How to Monetize Your Facebook Fans with a Facebook Store, many people said they didn’t know that you could make purchases on Facebook.  As I was doing research for the book, I came across a site, SocialCommerceToday.com that has the most amazing collection of information on social commerce and f-commerce. Below is an excerpt of what they offer! These facts could be the key to getting your Facebook initiative approved and monetized!

Facebook Drives Loyalty Sales:

  • 117%: the additional amount a fan will spend on a brand compared to a non fan
  • 17%: proportion of Facebook users who say simply having the ability to ‘Like’ a brand makes them more likely to buy
  • 51%: the increase in likelihood a customer will purchase, after clicking the ‘like’ button
  • 41%: the increase in likelihood a customer that a customer will recommend, if they have liked the brand
  • 28%: the increase in likelihood that customers who ‘like’ a brand will repurchase
  • 40%: Proportion who ‘Like’ businesses in order to receive special discounts and promotions
  • 30% to 200%: increase in site registrations for sites using Facebook sign on
  • 15% to 100%: Increase in the number of reviews and other user-generated content generated when using Facebook social sign-on

Facebook Drives Word-of-Mouth Sales:

  • 75%:  Percentage of Facebook users who have “liked” a brand
  • $2.52: what a Facebook share generates for ticketing site Eventbrite
  • 11: Visits generated by  a Facebook share for ticketing site Eventbrite
  • 30bn+: pieces of content shared online every month by Facebook users (web links, news stories, blog posts, notes, photo albums, etc.)
  • 90: Average pieces of content created by a Facebook user each month
  • 130: Average number of Facebook friends of a user (who receive their word of mouth recommendations)
  • $3.60: the media value generated by the average Facebook fan is $3.60/year

Facebook Drives E-Commerce Traffic:

  • 6.5%: click-through rates on Facebook walls are 6.5%
  • 67% of retailers plan to use Facebook to drive traffic to their e-commerce sites
  • 25%: proportion of users who post links to other companies, products or services
  • 20%: proportion of e-commerce sales from Facebook (for Wetseal)
  • 1.5x: Facebook users spend 1.5x more online that other Internet users
  • 1 in 11: humans that are on Facebook (642 613 700) [Q2 2011]
  • 40%: The drop in Coca-Cola’s website traffic in the past year, but Coke’s Facebook page is up and is now the world’s most popular Facebook brand page (22m)
  • 7.9: In 2010, Facebook grew by 7.9 users/second
  • 1/3: Proportion of time spend online on Facebook by Facebook users
  • 50%: proportion of users who log on to Facebook in any given day
  • 700 billion: Minutes spent on Facebook every month
  • 80: Average community pages, groups and events to which a Facebook user is connected
  • Bigger than Google: In August 2010, U.S. Internet users spent 41.1 billion minutes on Facebook, surpassing Google Inc.’s 39.8 billion minutes for the first time
  • Nine in Ten: Proportion of US social network users who use Facebook
  • 57.1%: Proportion of Internet US users using Facebook

f-commerce is a Viable Retail Platform:

  • Top 3: The top 3 brands on Face book (by fans) all sell directly on Face book – Coca-Cola (24m), Starbucks (20m) and Disney (19m)
  • 2-4%: f-store conversion rates – on a par with web-stores (avg. 3.4%, according to Forrester/Shop.org)
  • $650,000,000: The drop in Netflix share value when Warner opened up a Facebook movie rental (streaming) service in 2011
  • 1000: Number of diapers P&G sold on its f-store in under an hour
  • 50,000: Number of retailers who have opened an f-store with Payment
  • 6 hours: Time it took for the Rachel Roy Facebook jewelry store to sell out
  • 3rd highest: daily sales made by Rachel Roy, the day it opened it’s pop-up f-store
  • 1m+: Starbucks customers using their e-commerce-enabled Facebook CRM loyalty program
  • 1300: Number of products added every week to the ASOS f-store
  • 20%: Proportion of black Friday sales transactions on Facebook for e-tailer Kembrel
  • 7-10%: Increased Average Order Value for Facebook transactions (vs. web-store) for Kembrel
  • 5000+: customers using Walmart’s group-buy Facebook app on the day of its launch
  • $34: Amount paid for the first transaction ever to take place in Facebook at 11.50 am EST on July 8, 2009 for bouquet of flowers ‘A Slice of Life’ on the f-store of U.S. florist 1-800 flowers

Could Facebook Be the Operating System of the Future? 

  • 200+ million: Facebook users accessing the utility through their mobile devices
  • 2x: People using Facebook on mobile devices are twice as active on Facebook than non-mobile users
  • 94%: Proportion of phone users who will communicate on their handsets via social networks
  • 50%:  Proportion of mobile internet traffic accounted for by Facebook and other social networking tools
  • 70%: proportion of Facebook users who engage with Facebook applications
  • 550,000: the number of active applications currently on Facebook Platform
  • 44%: proportion of retailers who plan to use Facebook application in place of microsites for product launches and promotions

Industry Adoption of f-commerce is Accelerating:

  • 76%: percentage of retailers who plan to use Facebook for ‘social commerce’ initiatives
  • 50%+: proportion of the global top 100 websites have integrated with Facebook using it’s social plug-ins
  • 50,000+: Number of websites that integrated Facebook social plug-ins (incl. ‘Like’) in the week they launched
  • 2.5 million+: websites have now integrated with Facebook
  • 10,000: number of new websites integrate with Facebook every day (with social plug-ins) (since April 2010)
  • 2m+: Number of sites that have integrated Facebook social plug-ins
  • 7 out of 10: proportion of digital marketers who have implemented or planning to implement Facebook Like feature

@drnatalie Learn. Share. Grow!

For more information on my book about F-commerce, “Like My Stuff: How to Monetize Your Facebook Fans with a Facebook Store” check out my Facebook store.

Here’s more great resources and posts on social commerce:

How to Monetize Your Facebook Fans WIth a Facebook Store

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Could Shopping in Social Networks Ruin Them? DrNatalie ‘s New Book: “Like My Stuff” How To Monetize Your Facebook Fans

December 6, 2011 By 6 Comments

Dr. Natalie’s New Book:  LIke My Stuff: How To Monetize Your Facebook Fans With a Facebook Store

Image representing Facebook as depicted in Cru...

Image via CrunchBase

Facebook or f-commerce to some, may see like a dirty word. Whether you think that or not depends on what your point of view is on adding shopping to social networks. Will brands take the next step to social media ROI with Social Commerce on Facebook? That’s what I address in Like My Stuff.

 

Mark Zuckerberg, founder and CEO of Facebook

Image via Wikipedia

If you ask Mark Zuckerberg, he says social commerce is the next big thing… but of course he does…

The skill with which brands fulfill on f-commerce will directly affect the success not only for their own individual brand, but as an industry as a whole. If social networking shopping sites are not delivered in the spirit of what the customer wants, it will fail. If not for this point alone, brands need to pay attention to f-commerce as an example of how shopping can be integrated within a social network.

My book, Like My Stuff, is about the opportunity businesses have to combine brand interactions and social commerce on Facebook (f-commerce) to increase their sales and promote their brands. Using nearly 50 live, full color screenshots from major retailers such as Macy’s, JC Penny’s and Avon as well as medium to small businesses, LIKE MY STUFF shows why f-commerce is the fastest growing trend and how to do it right or piss your customers off for good.

Potential Pitfalls for f-commerce

Are there potential pitfalls to dealing in f-commerce? Yes, privacy, intrusion, relevancy, engagement and the social fatique gap. Those and other factors are why f-commerce and eCommerce are so different.

Privacy

Let’s look at privacy first. Remember back to 2007? Facebook tried Project Beacon. That process collected the eCommerce activity of Facebook participants on third party sites and then posted a user’s purchases on their friends’ news feed. That didn’t last long because users felt it was a privacy issue to disperse their information and data. There was backlash and many thought this might be the end of social shopping for Facebook. A study from JWT found the percentage of people worried about Facebook privacy and security to be in the 75% range. So if a brand is going to consider social shopping, it needs to be aware of making their customer’s feel secure.

Intrusion

What’s the issue with intrusion and consumers? The conflict for the shopper is when shopping feels likes it is an intrusion in a user’s social network lifestream. A lifestream is made up of the online posts and interactions a person creates in their daily interactions in social networks. Brands who go down the f-commerce path need to understand the nuances of social networks, what works and what doesn’t work.

This book is full of case studies of f-commerce that work. But brands should not just look at these examples for the mechanics of how a brand delivered an f-commerce solution. They must also understand what motivates a customer to click on a “Like” button and what it takes to go from just “Liking” a brand to getting them to redeem a coupon to getting a customer to become a loyal customer with repeat purchases and preference for the brand. To do that brands must become a social experience that is interesting and relevant to their audience. Social currency is the value a brand brings to a customer’s lifestream, i.e., providing relevancy and customer centric engagements that enhance a customer’s life. And social currency is where the return on investment in social media pays off. When brands don’t understand social currency, relevancy and engagement, they become an intrusion.

Relevancy: Know Your Audience

Often understanding what is interesting and relevant is best found by asking customers directly. Too many PR, Marketing

SAN FRANCISCO, CA - SEPTEMBER 22: Netflix CEO...

Image by Getty Images via @daylife

and Advertising firms think they know better. They don’t take the time to do the account planning or research to really understand their audience, their behaviors, their motivations and drivers for let alone for traditional campaigns. Enter social media. If a brand does not listen and understand their online audience, the backlash can be devastating. (Think Netflix- check out my blog post on how Netflix wasn’t really listening or understanding why customers were upset ) That doesn’t mean a brand should not enter into the social media realm. It means they need to go back to school and understand the differences between online and offline customer interactions and the viral nature of a scorned customer.

Get To REALLY Know Your Audience

Brands need to make sure they have someone on staff who understands how to do primary audience research in both social media and traditional methods. Qualitative and quantitative methods of traditional account planning and audience research include:

  • Focus groups
  • In-depth interviews
  • Polls
  • Surveys, and
  • Ethnography / netnography (observations off- and on-line of the audience behaviors)

Social media monitoring tools like Radian6, Sysomos, Tracckr, etc… lend themselves to account planning and audience research, especially for:

  • Primary Research (research conducted by the brand itself)
  • Sentiment and share of voice online
  • Identification of the top influencers, advocates, customers, brand naysayers and press
  • Polls, surveys, netnography, etc…
  • Topics influencers and advocates are discussing about the brand
  • Customer issues, questions, suggestions and praise for the product, service and the brand…
  • Secondary Research (research conducted by other people than the brand)
  • Studies other research groups or institutions have produced on the brand, the or category that the brand falls into (consumer products, automotive…) and the customers associated with those groups.

In addition, conversations within online communities- either owned by the brand or third party communities, can reveal very interesting insights for the brand. In particular interest to this book on f-commerce is the use of community applications within Facebook. An example of a community application used within Facebook is Get Satisfaction’s Facebook Solution.

Because the Wall in Facebook changes so quickly, brands end up answering the same questions over and over. The Get Satisfaction Facebook widget allows brands to not only avoid spending time repeating the same answers on the Wall (because questions and answers can be searched on and retrieved), but instead can focus on creating relevant content and interactions that engage customers to participate and make that brand part of their lifestream.

Image representing GoodData as depicted in Cru...

Image via CrunchBase

Most social media monitoring tools can only provide Facebook data that is on public pages. Because of the partnership between GoodData and Get Satisfaction, the brand can obtain intimate knowledge of the conversations on their Facebook pages between the brand and its customer’s. And, if the brand has included the Get Satisfaction widget on their website or other communities, that data can also be aggregated.

If a brand doesn’t take the steps to understand their audience, there is no guarantee that the social shopping experience will yield good business results. Why guess, when you can know?

Image representing Get Satisfaction as depicte...

Image via CrunchBase

Engagement

In the old days, Marketers counted on customers telling 10-20 of their friends about a product or service. Today with the social web, one customer’s comment, negative or positive, informs thousands and sometimes millions of people in nearly nanoseconds. And reports show that year after year, consumers generally trust the opinions of people they know more than they trust anonymous ratings and reviews posted online. And in comparison, they trust online banner ads and advertisements even less. Social commerce or f-commerce is the opportunity to leverage word-of-mouth to increase the awareness of brand and drive customers through the consideration and purchase funnel.

Social Network Fatique

Brands must begin to think from the social customer’s point of view. Customer’s who use social media are constantly being bombarded with invitations to new social networks. They have to decide where to spend the little free time they have. This means that a brand must provide their social customers direct engagement that acknowledges their understanding of their customers in the social web as well as reward them for that participation in the social experience created by the brand. Customers who do encounter great social experiences influence other customers. That influence can multiply across their social graphs and spark comments, conversations and purchases. To be good at this means that you are a student of “a day in the life of your customers.”

For instance, Nike  built a community where runners can share their experiences about running. There are tools to keep track of the number of miles you’ve completed, etc… This community provides something that runners need and hence they go there. The net-net for Nike is that the more people are inspired to run, the more shoes they sell. But the strategy can’t start with – let’s sell more shoes. Interaction strategy must provide something that customers need and want. Otherwise the brand’s social strategy will fall prey to social fatigue.

Many businesses, big and small, are wondering if they should go down this path? How is f-commerce different than the e-commerce they already offer? And does f-commerce mean that you have to get rid of your traditional e-commerce platform? I addresses these and other questions in the book… if you’d like to order it, click here… LIKE MY STUFF. So Check it out and let me know what you think!

Learn. Share. Grow!
@drnatalie

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Could Social Media Monitoring Have Saved Netflix & Blockbuster from Themselves?

September 23, 2011 By 12 Comments

Word Cloud On Netflix from Social Media Monitoring

I teamed up with my friend Jennifer Tyler, @JenHowell4, at Sysomos and we did a little social media monitoring on the Netflix situation. One of the goals of this blog post is to show that data can be used to tell a story. When you tell a story, the audience listens.

A Cause for Pause I hope that this case study gives every CEO, CMO… a cause for pause — to consider social media as well as social media monitoring –to give it a real, hard consideration. Not just because you want to avoid risk, but because you can begin to see that there is mission critical, real-time data that you can use in your business. And so now to our story, aided by the social media monitoring data.

Blockbuster’s Customers Didn’t Like the Delivery System Because It Involved Late Fees If we examine what was being said about Blockbuster in social media prior to bankruptcy, the negative conversation was around late fees. Clearly there was something not working about the delivery of movies. Customers had to come in, rent the DVD and remember to return them on time. Or else the “evil” late fees would consume their positivity around the brand.

But was Blockbuster listening? It doesn’t appear that they were “hearing” the feedback, at least not enough to shift their business model. Here’s a word cloud that can be generated via social media monitoring. It tells you what was being said about Blockbuster in social media. You can clearly see- in the word cloud- that the main jist of the conversation was about late fees. (In word clouds, the larger the words, the more times they are mentioned in social media.)

Social Media Monitoring Word Cloud on Blockbuster

If Blockbuster was using social media monitoring, they could have seen that their customer sentiment was not positive. They could have clicked on the red part of the pie chart to understand what customer’s were upset about. By clicking on the graph they could choose to look at tweets, at blog posts, etc… that pertain to that negative sentiment.

Blockbuster Sentiment Chart in 2010

But Blockbuster didn’t listen — or at least they didn’t hear and shift their business and had to file bankruptcy on Sept 23, 2010. You can see in the word cloud about Blockbuster’s bankruptcy, that Netflix is showing up in the conversation. Clearly something to pay attention to — when the word cloud is supposed to be about your business and your competitor is showing up in the same cloud! YIKES!

Blockbuster Word Cloud Sept 23 1010 Bankruptcy

Social media monitoring can show you what is being said about your company. Below are clips that represent blog posts in social media about Blockbuster’s bankruptcy.

Conversations on the web about Blockbuster's Bankruptcy

And here’s customer sentiment around Blockbuster’s bankruptcy in tweets:

Blockbuster Twitter Conversations About the Bankruptcy

July 12, 2011 Flash Forward to July 12, 2011. Was Netflix listening to their customers? If you look at the graph at the top left hand side, you see a yellow-ish curve. It is pretty much the same height until July 12, 2011.

What you can do in social media monitoring is to click on the peak and then see what that is attributed to. In the upper, right hand corner, you can see the blog post by Netflix’s CEO Reed Hastings is what gave rise to the spike in social media and online conversations. The screenshot is of the Facebook post with a link to the CEO’s blog post. There are 81,789 comments. Out of those comments, there are 1,429 Likes. That’s about 1.7% positive responses.

If we do a word cloud on the same peak, we can see what the main topics are. That’s the group of words to the lower right. The key words are: Netflix, price, hike, streaming, dear…. It’s clear what the crowd is upset about. If we look at the lower left screen grab, you can see a buzz graph. The buzz graph tells you what words are being used in association with other words and the thicker the line, the more prominent is the use of the word. Those words are: increase, stream and redbox…

Social Media Monitoring Data on Netflix July 12 2011 Price Hike/ Change

Here’s the actual blog post by Hastings– note that he ends the post with telling customers that they can cancel their services at any time.

Netflix CEO Reed Hastings Blog Post July 12 2011, With Invitation To Cancel Customer Subscriptions

Here’s some of the thousands of comments to the CEO’s posts, most all negative, about the changes to the Netflix services:

Customers Reaction to Netflix CEO Reed Hastings Blog Post July 12 2011

Despite the >23,000 negative comments on the blog on July 12, 2011, Netflix sent out a notice on the price hike on Sept 19th, 2011. What happens when you don’t listen or hear & you act without considering what customers think, feel and know? Customers were outraged… and the press picked up the coverage… If for no other reason than the press looks to social media for stories, companies MUST start taking social media seriously.

Press That Covered Netflix Price Change and Splitting Up the Company

And here’s some of the titles of the articles below. Companies work very hard to get coverage like this. Unfortunately, it wasn’t positive coverage.

Titles of Articles About Netflix

Here’s a sample of the tweets about Qwikster (Netflix’s new offering) – Sept 19th, 2011.

Sample of Tweets About Netflix Qwikster

And the three top words in the Buzz Graph?

• Reed
• Hastings
• Apologize
 

Buzz Graph on Netflix CEO Reed Hastings

Here’s Doug Gross’s article, from CNN Tech and The Daily Dog’s Report on Netflix:

 

Daily Dog's Story on Reed Hastings and Netflix

And Tom Loftus’s Wall Street Journal story on Netflix and Reed Hastings:

 

Wall Street Journal's Story on Netflix's CEO Reed Hastings

 

And more stories from some great journalists:  

, Mashable: Netflix’s @Qwikster Problem: Twitter Account Controlled by Weed-Smoking Elmo  

Ben Fritz, LATimes: Netflix CEO admits ‘arrogance,’ renames disc business Qwikster  NPR: Netflix’ News: Signal Of DVD’s Demise?

Scott Cleland, Forbes: Netflix Crushes Its Own Momentum

Matt Burns, TechCrunch: Netflix Stock Erases 12 Months Of Massive Growth, Crashes Through 52 Week Low

Mike Issac, WIRED: Meet Qwikster: Netflix Spins Off Discs-By-Mail from Streaming Video

Austin Carr, FastCompany: Netflix: What We’ve Got Here Is A Failure To Communicate

What was interesting is that I checked Blockbuster’s twitter handle… and guess what I saw? Blockbuster is NOW listening! They are offering 1 year subscription to the people who provide the best reason for leaving NetFlix:

 

 

Blockbuster is listening now!!!

What makes this whole situation even worse, like Stan at Mashable said… Netflix didn’t even check the twitter handle– @Qwikster. Someone else has it. Here is one of his typical tweets. It’s not “on brand” with Netflix and Netflix doesn’t own the twitter handle. (Note to companies- before you pick the name of a new company, go to Twitter and check to see if the name is available!!)

 

Qwikster Tweets

Deming On Steroids Maybe its good to listen to your customers. Deming said it years ago. Listen to your customers and employees. Take the feedback and integrate it into your company. What we have in social media is Deming on steroids. We have feedback that is honest, genuine, and transparent. What’s worse is that, like cave paintings, it is something that will last forever for whomever is searching to find it.

Did Blockbuster cross the chasm of it’s time? No. It’s customers were saying, “We want a different delivery system where we don’t get dinged for late fees.” It didn’t shift with the changes in the marketplace. Did Netflix take their spot. You bet. Did Netflix get arrogant? One would think that after >87,000 comments or 24,000 comments, that if the customer’s weren’t good with what was being proposed, and Netflix went ahead anyways, yes, it appears so.

What could Netflix have done better? Ask the customers what they think before making a declaration. Explain that to keep the company profitable and to keep delivering the streaming services, that there might need to be some changes. Ask, don’t tell is the VERY FIRST things good leaders learn in and out of business school. Asking vs telling would be a paradigm shift for most CEOs.

Netflix announced the deal with Facebook and Michael Drobac, director of Government Relations at Netflix is asking customers to help bring Facebook Sharing to the US. Has Hastings done so much damage that fans and customers will not rise to help? Did the apologies and explanations by Hastings help or hurt the company? Do you think Hastings understands what he did wrong?  Todd Wasserman of Mashable.com reported rumors of Blockbuster to launch a Netflix rival. Is it too late for Netflix?

A Social Media Teaching Moment What can we learn from this? Call it a “teaching moment.” We can conclude that’s its important to listen to our customers. It’s important that executives listen to customers and use that feedback to make good decisions. The information about a company that is contained in social media is real-time and real relevant. It’s your customers, your advocates, your influencers, your ambassadors, the press and your nay-sayers giving you their point of view. And it lives forever, it can go viral and change not only what customer’s think but also what investors think, as well as stock prices. Social media is clearly a medium, that if you don’t understand it, it can get you!

So where is your company in the adoption of social media? If it’s stuck, then perhaps consider social media monitoring. It will give you:

  • A benchmark on where your sentiment and share of voice is- especially compared to your competitors
  • Assurances that what you are doing is working; fair warning when it isn’t
  • Mission critical data to adjust your products and service
  • Data to help create a business case for the decisions you are making
  • And give you data that can be used to calculate social media ROI.

Where is Social Media Going? Many people are asking me what’s the next phase in social media? They’ve got their Facebook and Twitter handle and they are posting. They have somewhat of a content strategy and interaction plan. And they are trying to drive customers through a marketing funnel and help customers with their customer service issues.

The Third WAVE of Social Media Adoption The next phase, and maybe it should be one of the first phases, is to do social media monitoring. Why? A good case study in this is re: Netflix and Blockbuster situation. Where we are in the social media lifecycle is the Third Wave. Wave One was lead by the Innnovators. Wave Two was championed by the Early Adopters.

The Social Media Adoption Curve by Dr Natalie Petouhoff

For social media to become the business-changing paradigm shift that it can be, it must win over the Early Majority. If that happens, then the business world would be entering WAVE Three, in the Social Media Adoption Curve. (I adopted Geoffrey Moore’s and Roger’s Diffusion Theory thought leadership around this concept.)

So what will it take to get the majority of the business world to buy into social media? The Early Majority are pragmatists. They want assurances that what they are going to do, is gonna work. They want business cases and they’d love to see ROI. One of the ways to show companies that social media matters is all of the above. And one of the best ways to create a business case is to do a little social media monitoring. At least that’s my take!

Don't do the Ostrich

Take your head out of the sand and cross the chasm

What’s your take on where business is in the social media adoption process?
Does this type of social media monitoring data make it easier to understand why someone should invest in social media? Love to hear your thoughts!

The Social Media Adoption Chasm - Don't Fall Into The Gap

@drnatalie Learn. Share. Grow!

Here’s more information to that might help you:
A link to the powerpoint presentation on slideshare: http://www.slideshare.net/doctornatalie/social-media-breakfast-club-and-sysomos-presentation-sept-22-drnatalie

Link to my Social Media ROI videos: http://www.drnatalienews.com/blog/did-u-see-the-videos-on-the-roi-of-social-media

Link to my white papers on the ROI of Social Media: http://www.drnatalienews.com/blog/roi-of-social-media-white-papers-by-dr-natalie-petouhoff

 


 

 

 

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Filed Under: Dr. Natalie's Blog, Featured, Leadership, ROI of Social Media, Social CRM, Social Media & Digital Comm Education, Social PR, Marketing and Advertising Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Executive Education on Social Business: A Series by Dr. Natalie Petouhoff and Kathy Herrmann

September 20, 2011 By 1 Comment

One of the things that I’ve discovered is the need to talk through the ideas in social media and how they get applied to transform businesses into social businesses. (BTW — I’ll be very happy when we stop using that term “social” business. It’s ok for now because we are trying to distinguish between what “was” and the “new” way… I look forward to the day that we just say business!)

To help executives, directors and managers to have a better idea of how to apply social media to their business and get real hard business results, Kathy and I have created a series of roundtables. We invite you, in a Aristotle type platform, to come and listen, contribute and evolve the field of social business. I’ve found when the crowd or community has a conversation, that’s when the real unique points and differentiators are revealed.

If you want to learn and contribute, please join us!

Here’s the details and to sign up, go here:

Each week, in this ongoing series, we’ll hear Dr. Natalie Petouhoff and Kathy Herrmann discuss what business leaders need to know to successfully implement holistic social strategies. You’ll be armed to effectively break down silos to engage, influence, collaborate, and create with customers, partners, and employees using the social business model.

This week, Dr. Natalie Petouhoff and Kathy Herrmann will continue the Simplifying Social Business roundtable series by deepening the discussion on The Promise of Social CRM. Participants will learn:

  • Why social data is so valuable to companies
  • How Social CRM emulates the human approach
  • How to make sense of social interactions

I’ll post soon on the next part of the series!
Learn. Share. Grow! @drnatalie

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Social Media Week in Los Angeles! Sysomos and Dr. Natalie Petouhoff Present “Social Media Monitoring and Measurement” at Social Media Breakfast LA

September 19, 2011 By Leave a Comment

I’m very excited to be presenting during Social Media Week in LosAngeles!

I will be presenting with Sysomos on September 22 a 90 min breakfast session on “Social Media Monitoring and Measurement.” The event is free! I’ll use real-life case studies along with tools, tips, strategies, and tactics to monitor and measure the success of social media and digital communication programs.

You’ll learn how to use market intelligence gathered from social media monitoring and measurement to improve audience engagement and drive business value.

Event Details

* What: Social Media Breakfast LA event — “Social Media Monitoring & Measurement” Includes full Venezuelan-inspired breakfast. FREE

* When: Thursday, September 22, 2011, 7:30 – 9:00 a.m.
Space limited; seating available to the first 80 registered attendees

* Where: Coupa Café, 419 North Canon Drive, Beverly Hills, 90210

* Who: Sysomos, a leading global provider of social media monitoring technology, and Dr. Natalie Petouhoff (@drnatalie), president of Social Media Club LA and social media and digital communications specialist.

(Hashtag #SMBLA)

To Register: “Social Media Breakfast: Social Media Monitoring and Measurement”

About Sysomos
Sysomos, a Marketwire company, is a leading global provider of social media monitoring technology. Sysomos is redefining social media analytics by giving corporations, marketers, agencies and advertisers the intelligence and insight needed to make smarter business and strategic decisions. We bring business intelligence to social media, providing instant and unlimited access to all social media conversations to quickly see what’s happening, why it’s happening, and who’s driving the conversations. Through the use of contextual text analytics and data mining technology, Sysomos collects data from blogs, Twitter, social networks, forums, video sites, and major new sources. Our products give you the ability to quickly discover the tone of the conversations and identify sentiment by gender, age, and location. For more information, visit us online at www.marketwire.com and blog.marketwire.com, or on Twitter @marketwire. Visit the Sysomos website, explore the Sysomos blog.

About Dr. Natalie Petouhoff
Dr. Natalie Petouhoff is a professor at USC, teaching Social Media, PR and Marketing Measurement and ROI courses. She has served as a Forrester Analyst in Social Media, CRM (Marketing, Sales and Service) and ROI, and as the Chief Strategist for Social Media and Digital Communications, with a world-wide practice role spanning client work, practice development, and thought leadership. She is credited with writing the world’s first social media ROI model for PR, Marketing, Product Innovation and Customer Service. She is President of Social Media Club LA (@SMC_LA), participates in Girls in Tech and is a Guest Lecturer at UCLA Anderson School of Business. To follow Dr. Natalie, check out her musings on twitter.com/drnatalie; her website where she blogs about practical how-tos social and digital, www.drnatalienews.com.

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Pivot Conference ROI of Social Media Oct 17-18th

September 19, 2011 By Leave a Comment

Title: Pivot Conference ROI of Social Media
Location: NYC
Link out: Click here
Description: Chapter: Show us the money!
Session: The Quest for ROI

I will be covering the long awaited secrets to how to measure ROI for social media!

See more info on Brian’s post about the conference in general and a great interview by Jon Schwartz and Brian Solis:

Start Date: 2011-10-17
End Date: 2011-10-18

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ROI of Social Media White Papers by Dr. Natalie Petouhoff

August 24, 2011 By 6 Comments

I thought I would post the white papers here… In case you want to see how ROI can be calculated…
Lot’s of people have done studies to show that maybe people are being required to calculate the ROI — others have told me that while they are not being asked to calculate the ROI – that because the research that I and others have done, just knowing that there is real business value has helped them in their ability to convince their company to move forward. And others have said they used the information to calculate the ROI of their social media program…

So here’s some more brain candy!
Love to know what you think! And hope it helps to forward whatever you are doing!

Learn. Share. Grow!
@drnatalie

Social_Customer_ROI_Guide_DrNatalie Petouhoff

IDC White Paper ROI OF Social Business Dr. Natalie Petouhoff

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Filed Under: Customer Service, Dr. Natalie's Blog, ROI of Social Media, Social CRM, Social PR, Marketing and Advertising

Discount Code for @SMCLA / @SMC_LA Social Media Master’s Course in Social Media Monitoring and Measurement to Determine Business Value and ROI

July 30, 2011 By Leave a Comment

If you are looking for some detailed information and education on social media, then consider the Social Media Club LA sessions! We have a great line-up of teachers with real-world experience! I’ll be teaching social media monitoring and measurement… The schedule is below!

If there is something particular you’d like to see covered under the section I am teaching – social media monitoring and measurement, please let me know! Here’s the discount code for 30% off: SMCLAX Use this when you go to sign up!

Look forward to seeing you there!
@drnatalie

Learn. Share. Grow!

THE SCHEDULE and MORE DETAILS – where, who is teaching, etc…
Sept 9th, 9:00am – 6:00pm

  • Building Corporate Social Infrastructure with Sam Fiorella
  • Lessons from the Facebook Trenches: Thinking Beyond “Likes” with Matt Hicks
  • Online Community Building with Patrick O’Keefe
  • Social Business, Holistic Strategy with Chris Heuer
  • Social Media Monitoring and Measurement: Understanding How To Turn Data Into Business Insights with Data with Dr. Natalie Petouhoff
  • Are You Prepared to Weather An Online Crisis? How to map your brand’s social graph and identify threats and opportunities with Sally Falkow

Here’s a bit about each course….

BUILDING CORPORATE SOCIAL INFRASTRUCTURE
It’s no secret that C-Suite execs in most large businesses have been slow to acknowledge the social economy or to formalize and fund social engagements across their organizations. But the communication tidal wave that is social media cannot be stopped and many business silos have begun their own individual efforts given the lack of executive leadership in this area.

Be it Customer Service Managers scouring Twitter feeds, HR teams monitoring LinkedIn, Marketers advertising in social networks or PR Professionals engaging social influencers, most enterprises are engaged in social relationships through disjointed efforts initiated by the customer or customer-facing departments. Therein lies the challenge for enterprise leaders; and the opportunity if they accept this call to action.

How does the enterprise adapt to the internal communications changes that are pushing it to be more open? More social? The employee’s adoption of social communication does not translate well to the kind of work groups that are formed in most businesses. So the inevitable introduction of social networking-style communication into an office culture will have powerful implications on how businesses are structured and managed. But you need to understand how to enable it without losing control of your business’ corporate vision. In this session Sam will outline:

  • The challenges that social communications will place on your
    workforce and business silos
  • The needs, abilities and challenges of generational communications
    within the organization
  • Cross-silo methodologies used to embrace and take advantage of the
    changes in how people communicate

Using real examples from the corporate world, you’ll leave the session with a blue print for your own corporate cross-silo social communication plan.

LESSONS FROM THE FACEBOOK TRENCHES: THINKING BEYOND “LIKES”
The power of Facebook for businesses goes beyond the number of people who click “Like” to connect with your Page. It’s about building relationships where people want to engage with and share your content, and it’s about building an authentic persona for your company that talks with people on their terms. This session will explore how to make your Facebook Page and other activities more personal and engaging through a mix of real-world tips, case studies, demos and group exercises. Topics to be covered include:

  • Advanced features for managing and setting up your Page
  • Developing a voice for your Page and creating the best mix of content
  • How to compete for attention in News Feed
  • Emerging opportunities beyond the Page and off of Facebook

MAP YOUR BRAND’S SOCIAL GRAPH AND IDENTIFY THREATS AND OPPORTUNITIES
79% of business leaders in the U.S., Europe, Asia Pacific and Latin America say they believe their company is less than 12 months away from a potentially serious crisis fueled by online conversations and the 24/7 news cycle. Most expect it to occur with the next year, yet they admit to being totally unprepared to manage and survive a crisis.

Almost half of those polled say they are not effectively monitoring the online conversations. They have no idea who makes up their social graph and how the nodes in a social graph are connecting and influencing one another. They don’t know who the people who shape the conversation in each social node are, or how to identify them. (Source: 2011 Burson–Marstellar Digital Crisis Preparedness Report)

This session will cover:

  • What the social graph is.
  • How to map your brand’s social graph.
  • How to prepare for the Digital Storm Ahead: Find the right conversations to track, Identify the influencers in each node, Identify threats and opportunities, Build a community of supporters before you need them, Reach the friends of your fans and followers, Train your employees.

ONLINE COMMUNITY BUILDING
The question isn’t whether or not you have a community. Your community – the people who love and support what you do – is out there. The question is how you engage with them. In this session, we’ll talk about community management and engagement in spaces you control and spaces you don’t, from Facebook and Twitter to forums and blogs. This is the art of community building on the web, both the good and the bad, steeped in real world experience.

SOCIAL BUSINESS, HOLISTIC STRATEGY
After spending the past 12 years on the top of search results for “holistic business strategy”, Chris Heuer believes the day has finally come for his insights to become part of mainstream management thinking. As the disruption caused by social media reverberates across all aspects of organizational operations and culture, market leaders are turning to social business to transform the enterprise and seize a competitive advantage. The rise of social business is not only the sucessor to eBusiness, it signals the dawn of the post digital era. Today, being digital is expected, it’s the price of entry. If you can’t think holistically, collaborate across traditional organizational boundaries, optimize your organization to act as one and earn the trust needed to truly serve your market, your business may soon be extinct.

Chris will share his insights on how to think and act like a social business along with the perspective from his colleagues at Deloitte Consulting LLP on the dawning of the post digital era.

 

SOCIAL MEDIA MONITORING AND MEASUREMENT: UNDERSTANDING HOW TO TURN DATA INTO BUSINESS INSIGHTS
With Social Media and Digital Communications becoming part of how business gets done, businesses are wondering how should they use social media to enhance their business. When social media first started, companies reacted by putting up Facebook pages, signing up for a Twitter handle and adding a blog to their website and other basic social/digital interactions. Now the game has gotten far more complicated. Without a lot of knowledge or framework around how to make sense of all the social media and digital interactions, professionals from all walks of life—PR, Marketing, Customer Service, Production Development, Engineering, etc… want to know, “How does social media affect my business? Does it:

  • Increase Marketing conversion rates and Sales?
  • Reduce Marketing and Sales costs?
  • Reduce costs for building and maintaining brand reputation?
  • Shorten Product Development cycles?
  • Increase positive word-of-mouth and awareness?
  • Decrease agent-assisted calls in Customer Service?
  • Decrease overall costs by reducing items like return merchandise (RMAs)….

Yes, it does. And the question on everyone’s mind is How.” This session will use real-life case studies to illustrate with examples so you’ll leave with tools, tips, strategy and tactical capabilities to monitor and measure the success of your social media and digital communication programs. We’ll cover the how’s, the what’s and the why’s to social media monitoring and measurement:

  • Monitoring: What to monitor and why. Who and what to monitor. Where to find the audiences to monitor. Understanding what your audiences want and care about. What free social media monitoring tools to use. What paid social media monitoring tools to use. How to set-up social media monitoring searches to make sure you get what you need.
  • Measure: Once you have the data, how to turn it into business value. Secrets to taking data and turning it into insights. What metrics, key performance indicators (KPIs) and measurements you need. How to connect metrics, formulas and calculations. Social media ROI calculations, models and methodologies to show business value.
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The Making of the ROI Of Social Media Videos: The RSA Video Process

June 19, 2011 By Leave a Comment

If you have seen the ROI of Social Media Videos, you may be wondering how the videos were made. So this post is about the creation of the video’s using the RSA motion capture process to illustrate the stories behind the narrative.

We started by outlining a white paper– based on the thought leadership — from both myself and Kathy Herrmann on the ROI of social media.  And then broke the topic into 3 video scripts:
1. How to Get Your CEO to Say “Yes” To Social Media
2. How To Calculate the ROI of Social Media and
3. How Social Customer Service Benefits the Whole Company.

And I headed to San Francisco to rebelunit.com studio’s to meet up with the Salesforce team: Jennifer Stern, Sarah Suwanjindar, Sylvia Lehnen and the artist:

The RSA Social Media of ROI Team

We worked from storyboards that captured information in pictures:

The Story Boards For the ROI Of Social Media Videos

And we sat down with the artist to begin the process of drawing out the story:

The Artist on the ROI Of Social Media

The artist drew the pictures and the video cameras captured the artist’s drawings. We watched on another screen to see how the video would appear on the final cut:

The Video Screen Used to Watch the Drawing Process

I recorded the narrative and the voice and video were combined! To keep everyone’s energy up… we had yummy food and M&M’s!

Feeding The Troops M&Ms

Here’s a short video on the actual process in action:


Here’s a B.I.G. Thank YOU!!! to the WHOLE TEAM! For the great work!

The Troop That Made The ROI of Social Media Videos Happen!

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Did U See The Videos On the ROI of Social Media?

June 14, 2011 By 15 Comments

I’ve been asked… a number of times, where can we see these videos that Kathy Herrmann and I wrote? We created them based on our thought leadership with the help and support of Salesforce.com and www.rebelunit.com (RSA) on the ROI of social media… so I thought I would post them here… so that you have access to them at any time!

Video 1: How Social Media Benefits the Whole Company

 
Video 2: How to Calculate The ROI of Social Media

Video 3: How To Build a Business Case For Social Customer

@drnatalie Learn. Share. Grow.

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