Mktg 6226 class_leadership_presentation_measurements_walmart_by_manuj_gaur
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Analysis of Wal-mart's - "Roommate style match" - The purpose of this presentation is to evaluate the campaign in terms of effectiveness of measurements.
Mktg 6226 class_leadership_presentation_measurements_walmart_by_manuj_gaur
- 1. MKTG 6226 CLASS LEADERSHIP PRESENTATION WAL-MART 2.0 By Manuj Gaur
- 2. Wal-Mart 2.0 - "Roommate Style Match Launched in August 2007 Research showed an average first year student spent $1112.2 A Facebook group targeted towards college-goers
- 3. Objectives Spread awareness about Wal-Mart's product offerings Build an online community where freshmen students can Network Co-operate in furnishing their dorm-rooms Be entertained To connect college students with a variety of dorm-related products and information
- 4. Features Fans could Post comments and pictures on the wall Take a quiz to determine their decorating style Download a shopping list of dorm-room items sold at Wal-Mart Link to Wal-Mart's Web site promoting "earth-friendly" products Click on Sound-check, Wal-Mart's Web site showing musical performances by singers like Bon Jovi and Mandy Moor Fans could not Discuss
- 5. Strategy Segment College age users Target Freshmen looking to furnish his/her dorm-room Positioning Best collection of stylish products to suit the consumer needs
- 6. Measurements The ROI measured in terms of Number of fans Number of quizzes taken Number of comments & photos posted Number of lists downloaded Number of clicks to other Wal-Mart websites
- 7. Results - Wal-Mart 2.0 Number of fans 1100+ Number of quizzes taken - 2000 Number of posts- 426 Number of photos- 30+ Wal-Mart sales were up 3.1 percent in August 2007 over August 2006 (National Retail Federation) Source: Adweek.com
- 8. Target 2.0 Vs Wal-Mart 2.0 Number of fans 7000+ Number of posts 483+ Number of photos 410+ Number of discussions hosted 37 Target sales were up 6.1 percent in August 2007 over August 2006 (National Retail Federation) Source: Adweek.com
- 9. Target 2.0 Vs Wal-Mart 2.0 Wal-Mart Target Source: Socialmention.com
- 10. The Brand Passion Index Source: Netbase.com
- 11. What went wrong??? Excess focus on marketing messages Restricted comments and feedback to "Wall Posts Strayed from its core brand value of deep-discounts to give style advice to Facebook users Did not account for sentiments in measurement of ROI
- 12. Measurement strategy for social media as an ecosystem Source: Customerthink.com
- 13. Key learning's Stick to the core values Measuring Social media as an ecosystem Invest in social capital Two-way communication key to consumer engagement
- 14. Food for thought How should Wal-Mart manage the sentiments around its brand? QUESTIONS!!!
Editor's Notes
- #4: Thus ensuring consumer engagement
- #7: ROI of consumer engagement
- #8: in fact, more than half who have posted--criticize the company's labor practices and corporate reputation. One posting reads: "Wal-Mart is toxic to communities and livelihoods." Another notes: "We don't support this company's use of a space for social networking to further horrendous business practices.
- #13: How to avoid measurement pitfalls? Awareness is the same metric we've always used in marketing. Ask a random selection of people if they have heard of your product. Ask them if they can attribute any characteristics about your product. If you're doing your job, the answer will be, "Of course I've heard of KFC. It's finger lickin' good!" You grow awareness through reach and social media lets you reach people you might not otherwise. They are the friends of friends who read the tweet re-tweeted by those you couldn't reach on your own. Then you can segment those who have seen different ads, visited your website or participated in your sociosphere and measure the difference - or lift - in their response. Sentiment pertains to how people feel about your brand, your product or even about you. It's great that everybody is blogging about your latest offering, unless they are deriding your efforts, tweeting about your incompetence and posting video satires about you on YouTube. Tracking sentiment across competitors and over time allows you to keep a finger on the pulse of the marketplace and divine what's in their hearts and minds. Response comes in three varieties. Did your foray into the fields of Facebook elicit a social response? Did people Like what they saw? Did they blog about it? Did they re-tweet it from the rafters? Did you get any viral action? Lots of social response? Excellent! A large check box in column A. Column B is for business related response. Did they click through to your website, download the white paper, sign up for the webinar, join the club or subscribe to the newsletter? These are standard metrics used by web teams for more than a decade. Column C gets a check mark in it when you can relate your social media activities to sales. That brings us to the fourth metric: Value. Top line sales, bottom line profits and customer satisfaction are the final arbiters of the success of your social media efforts. Did your blogging, YouTubing, tweeting and crowdsourcing generate sufficient interest to generate cash, save money on customer support or increase good will enough to make the investment worthwhile? Source: http://www.customerthink.com/article/four_metrics_for_social_media_marketing_success?utm_source=twitterfeed&utm_medium=twitter&utm_campaign=Feed%3A+customerthink+%28CustomerThink+-+All+Posts%29&utm_content=Twitter
- #14: If they had positioned themselves as a good discount source for back-to-school supplies, and came up with a creative way to diffuse the negativity about their brand, then their Facebook campaign could have been a success. Power of networks