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Roi on social media
 

Roi on social media

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are there any return on social media?

are there any return on social media?
returns on social media??

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    Roi on social media Roi on social media Presentation Transcript

    • ROI FOR SOCIAL MEDIA
      Are there any?Or its just another medium for popularity!!!
      6/28/2010
      1
      Getting financial gains from social networking site?
      Social networking can ever increase business revenues??
    • TOO MANY QUERIES???
      And toooo.. many opinions!…
      Read on to form your opinion…………………………..
      6/28/2010
      2
    • While determining the ROI for Social Media..................The problem with trying to determine ROI for social media is we are trying to put numeric quantities around human interactions and conversations, which are not quantifiable. ORConsidering wrong parameters like Number of people following or liking the profile is not the key to determine the effectiveness.
      6/28/2010
      3
    • There are three types of results in interactive measurement:
      Outputs(impressions, share of voice, tone, etc.)
      Outcomes(attitude shift, behavior change, expanding reach)
      Business results
      “Business results, “We haven’t figured that part out yet.”
      And they’re not going to. And neither are any of us unless we start looking at the results in relation to the
      GOALS OF THE ORGANIZATION
      If your goal is to participate in the conversation, to enhance your relationship with your audiences and become a trusted member of the community that surrounds your brand, then your measures should prove you’ve done those things.
      “Your ROI is what you got out of the conversation, not what you got out of their checkbook”
      6/28/2010
      4
    • 6/28/2010
      5
      • The returns expected from social media is different from business to business and nature of the business.
      “ITS MORE ABOUT DEFINING YOUR SUCCESS PARAMETERS!”
      That is different for a :
      Digital marketing firm Ice cream company Mobile company SOCIAL MEDIA Cosmetic company Automobile company, Medical and health company
    • A ice cream company takes advantage of its popularity and maintains the profile to take leverage by involving people, children and maintaining their participation.
      6/28/2010
      6
    • A automobile company launching new product of existing brand:
      Here it will explore social media to create awareness and make people curious about the product. Sales is not the main aim but to generate people feed back, reactions and suggestions of expectation in the current market
      “Instead of unveiling the top-selling Ford Explorer at an auto show, the car company will reveal it on Facebook instead. According to USA Today, Ford thinks the 500-million member social media site is a better place to reach its customers.”
      “We live in a 140-character society," Scott Monty, Ford's head of social media, told USA today, referring to the Twitter character limit. "When we have people's attention, we want to make sure it sticks."
      “By using a social marketing strategy, Ford hopes to update its brand and make its cars seem more current.”
      6/28/2010
      7
    • A pre launch of Maruti Wagon R on Facebook
      6/28/2010
      8
    • Here the main will be to find out the monthly sales that comes directly from twitter, monthly revenue generated from twitter account. The direct concern for exploring social media is to increase the sales of DELL products.
      6/28/2010
      9
    • Social media for a Digital marketing firm like Search Value
      6/28/2010
      10
    • so……..
      SOCIAL MEDIA
      Return depends on
      6/28/2010
      11
    • Return on investment on Social Media
      The level of success in social media (as determined by ROI) is directly proportional to the speed at which
      You gain trust among your audience,
      The social nature of your products/services,
      The nature of your social network traffic conversion funnel that is your sales.
      Return on time and investment comes indirectly through how you brand yourself, overall presence on search engine branding, search engine visibility and from those seeking more information about the persona who is engaging in the social media space to see what they (or their business has to offer).
      6/28/2010
      12
    • So if its sales: it gets youcustomers
      $10,000 in Direct mail= 200 new customers.
      $7500 on Billboard= 300 new customers.
      6/28/2010
      13
      $0 twitter=1800 new customers
    • FACEBOOK IS NO MORE A MEDIUM TO SELL PRODUCTS
      BUT
      COMPANY PROMOTE THE BRAND BY USING FACEBOOK AS THEIR USP…..
      Watch more…………………………………
      6/28/2010
      14
    • A Mobile Phone For Facebook LoversRealizing the high ROI involved mobile company launch their product projecting Facebook as source of branding.
      6/28/2010
      15
    • INQ launches two new mobile phonesIt claims to be the first Twitter phone!!
      6/28/2010
      16
    • 7 Steps to measure the ROI
      Define the “R”
      Define the “I”
      Define your audiences and how you impact them
      Define your benchmarks
      Define your key performance indicators.
      Selecting a tool and pick a tool
      Selecting a measurement tool
      6/28/2010
      17
    • Define the “R”
      6/28/2010
      18
      • What are the result expected?
      • What are you trying to gain "your mission” or “your business goal”
      • How and when you want to gain the result, like duration, how early or fast the outcomes are expected
      • The nature of the outcomes expected like monetary or brand popularity etc.
    • Define the “I”
      6/28/2010
      19
      • Personnel efforts
      • Agency compensation
      • Senior staff time
      • Opportunity cost
    • Define your audiences and how you impact them?
      6/28/2010
      20
      • What do you want to do
      Increase awareness
      Increase engagement
      Increase preference
      • What will be more beneficial
      BLOGGING?
      TWITTER?
      Or, FACEBOOK
    • Define your benchmarks
      6/28/2010
      21
      • Past programs
      • Other tactics, or different technique/ program
      • Anything that has been implemented for similar results and purpose
    • Define your key performance indicators.
      6/28/2010
      22
      An Ideal KPI
      • Gets you where you plan to reaches actionable
      • Is worth to take action for
      • Acts as a parameter to measure continuous improvement in your processes.
      KPIs should be developed for:
      • Programs
      • Overall objectives
      • Different tactics
    • Selecting a tool and pick a tool
      6/28/2010
      23
      1.Analyzing the content and matter
      • Look at the whole conversation, not just your brand
      • Separate out paid content vs. organic
      2. Analytics it includes the numerals of the activities done
      • Web Analytics:
      • Not just visits
      • Downloads, coupons, registration
      • Business Intelligence/Analytics
    • Selecting a measurement tool
      6/28/2010
      24
      For instance,
      • If the requirement is to Increase inquiries, web traffic,
      Recruitment
      Then, KPI will be
      % increase in traffic, number of clickthrus or downloads
      And Tool will be
      Web analytics
    • So !
      What is the ROI on your Social Media??
      6/28/2010
      25
    • Your feedback will be really appreciated!
      add on and share your views
      Thanks
      ShilpiTyagi
      shilpitags@gmail.com
      6/28/2010
      26