Monetizing Web 2.0

Continuous refrain heard in the Web 2.0 echo chamber – but how is anyone going to make money (@amandachapel) off of this? Below is a case study that incorporates Web 2.0 tools in every phase of the project. Listening to what people say online, using that to inform and execute the campaign, and then measuring results by observing changes in brand advocacy – which are a leading indicator of changes in sales.

Here you go:

1. Listen and learn.
   

   “Mini USA, the American branch of BMW’s Mini Cooper line, tracks everything being said about its brand everywhere on line — in blogs, discussion groups, forums, MySpace pages and much more — then uses what it learns to guide advertising campaigns.”
   

   From Knowledge@Wharton article title “Not a Site but a Concept”: Tapping the Power of Social Networking
   

2. Use Learning to Inform & execute
   

   Use what you learn by listening to inform what you do next. Devise your campaign to connect with what your target is passionate about rather than just making up a story and pushing it at them with $$$. (We learn what people are passionate about by listening.) Here is the slideshow from BSSP’s work with MotiveQuest to develop the campaign with what we learned about the community by listening:
   

   BSSP/MQ Mini Case Study

3. Measure the results
   

   We measured changes in brand advocacy over time (using Online Promoter Score^TM) resulting from the BSSP campaign for Mini and tied the changes in advocacy to sales. Learn è Execute è Measure.

   Measuring Brand Advocacy

So there it is a solid ROI case for Web 2.0 tools and techniques.

Discuss.

TO’B