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Measuring Social Media ROI_2013

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What's the right question to ask when talking about Social Media ROI? …

What's the right question to ask when talking about Social Media ROI?
What is the right framework to measure it?
Vincenzo Cosenza - Blogmeter social strategist - provides some hints in this presentation.

Published in: Social Media, Business, Technology

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  • 1. www.blogmeter.it SOCIAL MEDIA ROI Measurement framework Vincenzo Cosenza @vincos © Blogmeter 2013 I www.blogmeter.it 1
  • 2. What is the ROI of Social Media? 1/3 Ask yourself: Is this the right question? 1. What’s ROI ? © Blogmeter 2013 I www.blogmeter.it 2
  • 3. What is the ROI of Social Media? 2/3 Ask yourself: Is this the right question? 2. What’s Social Media ? Social media are web based services that enable «socialization» of messages delivering and transformation © Blogmeter 2013 I www.blogmeter.it 3
  • 4. What is the ROI of Social Media? 3/3 The right questions: What is the R.O.I. of [insert a specific social media activity] in [insert a specific time frame]? i.e. What is the ROI of shifting 10% of our customer service resources from a traditional call center to Facebook/Twitter in Q4 2013? © Blogmeter 2013 I www.blogmeter.it 4
  • 5. Most common mistakes • Every activity must have a positive ROI • Short term vision • Measurement as an afterthought • Social Media metrics first • Forget business goals © Blogmeter 2013 I www.blogmeter.it Social Media Metrics Business Metrics Business Goals 5
  • 6. Start with Business Goals © Blogmeter 2013 I www.blogmeter.it 6
  • 7. The right measurement framework The right framework is useful to link social media metrics with business metrics and business goals. Business Brand Health, Marketing Optimization, Revenue Generation, Operational Efficiency, Customer Exp, Innovation Goals Revenue Increase, Cost decrease, Positive reputation, … Business Metrics Social media metrics Mapping & Profiling Conversation Analysis Engagement Analysis Engagement Increase, Response time decrease, Positive opinions increase… Tools & techniques
  • 8. Mapping & Profiling • Understand relationships around topics. • Visualize hubs & bridges
  • 9. Mapping & Profiling – Measurement Framework Business Brand Health Goals Positive exposure thanks to influencers engagement Business Metrics Social media metrics Mapping & Profiling Conversation Analysis Engagement Analysis + engagement + positive feedback Tools & techniques
  • 10. Conversation Analysis • Monitoring brand health against competition • Measuring campaigns • Understand conversations around topics
  • 11. Conversation Analysis – Campaign tracking
  • 12. Conversation Analysis – Measurement Framework Business Revenue Generation Goals Revenue increase thanks to a Social Media campaign Business Metrics Social media metrics Mapping & Profiling Conversation Analysis Engagement Analysis + positive engagement + conversion rate Tools & techniques
  • 13. Engagement Analysis - Overview Competition benchmarking Performance overview Fans/Followers profiling © Blogmeter 2013 I www.blogmeter.it Best practices 13
  • 14. Engagement Analysis – Top Brands (oct ’13) © Blogmeter 2013 I www.blogmeter.it 14
  • 15. Engagement Analysis – Top Brands (oct ’13) © Blogmeter 2013 I www.blogmeter.it 15
  • 16. Engagement Analysis – Measurement Framework Business Improve Customer Experience, decreasing operational costs Goals Customer Satisfaction increase Cost decrease Business Metrics Social media metrics Mapping & Profiling Conversation Analysis Engagement Analysis + Closed tickets via social care - Response time Tools & techniques
  • 17. So what? Not everything that count can be financially measured But without measuring your (social) activities you’re lost. In the Society of Data we need to develop a 6th sense the ability to analyze links between (big) data to improve business © Blogmeter 2013 I www.blogmeter.it 17
  • 18. Thank you! Milano | Roma | Torino marketing@blogmeter.it www.blogmeter.it www.twitter.com/blogmeter www.facebook.com/Blogmeter www.slideshare.net/Blogmeter