Note: continued live blogging and typos. Apologies for the latter.

Sessions are still slightly derailed by technical difficulties.

Goal to discuss: How much are all your friends, followers and fans worth? How can an organization tell if your
social media campaign is meeting your goals? How do you put a monetary value on
branding?

Monique Elwell, Conversify, Moderator
Heather Holdridge, Care2
Cheryl Contee, Fission Strategy

Monique Elwell
What is Social Media?
Any Web 2.0 tool that allows people to be social online. Not just Facebook. E.g. Virtual Worlds, Games, Flickr, iTunes
Stages -- shiny object syndrome. Gone from 2nd life to FB to Twitter.
Her first question to those wanting to use social media - Why?
1. Who trying to target
2. What are you trying to get them to do?
3. What is a success?
What you can do with social media
Business Strategy
More brand building
- increase awareness
- increase loyalty
- turn loyalists into evangelists
- increase word-of-mouth marketing
- and indirectly...
- increase donations (non-profits, politics)
- increase event attendance (non-profits)
- increase sales (business)
- increase voter turnout (politics)
- increase persuasion (politics)
ROI is simply what you spent divided by what you got out of it.
Some things don't have a monetary attribution -- e.g. awareness.
Results -- awareness study, real world testing, Net Promoter Score (NPS) - direct correlation to loyalty and sales,
% of referrers (e.g. from Facebook)
End of day what's most important is what your boss wants
Charlene Li's Blog ROI Model

Cheryl Contee
Charlene Li was one of first to put ROI model on social media. Took a lot of criticism.
Her model focused on blogs, but fairly easy to plug in FB, Twitter, etc.
Example of art awards
- Blogs, etc.
- Campaign around what is art
Ford FastLane Blog study
Launched several years ago
We're not your grandfather's automotive maker
Calculating the blog's ROI -- from Groundswell (the book)
Has about 100 people commenting per month
Equivalent to running a focus group every month at the cost of $15,000 a month or $180,000 years

Heather Holdridge
Social Network ROI Calculator
http://www.frogloop.com/social-network-calculator
Ron Paul as example
Put out that it was grassroots
Raised a total of $8.2 MM through 3rd quarter but...
Half of Paul's donors fave under $200
Hallmarks of "An Insurgent Campaign"
1. Distributed Network
2. Autonomy - Giving up Control
3. Vibrant Feedback Loop - Transparency
Creating authenticity. Get people enthusiastic and involved without spending a lot.
Supporters outpaced all the major candidates. Almost double of 2nd most popular Republican
Facebook - 83,597
YouTube - 49,866
MySpace - 130,592
Allowing network to define itself by...
Allows supporters to connect, "tawlk amongst themselves."
Didn't control.
Had lots of ways to get involved
E.g Facebook page with To Do list with 9 things. Provides different ways to get involved.
The Backstory of Money Bomb
A supporter decided to devote 11/5 to raising money for Paul. Aimed for $10MM in a day.
The campaign knew it was happening, but sort of let it go. Did some promotion at the end.
No central organizing point.
Raised $4.3MM.
On 12/16 (Boston Tea Party anniversary) ran with concept. Raised $6MM.
Raised $19MM in quarter.
Now has "Campaign for Liberty." Other org's too. Now Paul has legitimacy within Republican Party.
His ideas are gaining traction, e.g. audit the Federal Reserve.
Summary -- provide people basic tools and let them run with it. Most of it organized with social media.

Q&A
Did Ron Paul campaign fail since he didn't get elected?
Answer: did he expect to get elected? What wanted to do was get his ideas out there.