This is the social media ROI presentation I gave at the Mayo Clinic's Center for Social Media and Ragan Communications HealthCare Marketing and PR Social Media Summit. This was in Jacksonville, FL at ...
This is the social media ROI presentation I gave at the Mayo Clinic's Center for Social Media and Ragan Communications HealthCare Marketing and PR Social Media Summit. This was in Jacksonville, FL at the Mayo Clinic on March 15.
Social Media = ROI? Measuring your hospital’s social media effortsPresentation Transcript
Social media = ROI? Measuring your hospital’s social media efforts 1
About me • Director, Digital Marketing, Inova Health System • Six hospital not-for-profit system serving the Washington DC area • Advisory Board Member, Mayo Clinic Center for Social Media • Consultant for more than 100 hospitals/ physician practices • @chrisboyer 2
For those of you on Foursquare... Please check in to: “Chris Boyer’s ROI presentation @ MayoRagan Conference” 3
What we’re covering today • How social media is different • Importance of online communities • Defining ROI • What and how to measure? • Using a CRM •Measuring true ROI...?!? 4
Quick poll...How many of you have..? 5
The latest hospital stats... http://ebennett.org/hsnl/ (Precentage of 909 hospitals measured, 1/23/11) 6
Why are wedoing this? 7
How social media is different 8
How social media is different “...social media is a blending of technology and social interaction for the co-creation of value...” - Wikipedia 8
How social media is different “...social media is a blending of technology and social interaction for the co-creation of value...” - Wikipedia• Two-way participation 8
How social media is different “...social media is a blending of technology and social interaction for the co-creation of value...” - Wikipedia• Two-way participation• User-generated content 8
How social media is different “...social media is a blending of technology and social interaction for the co-creation of value...” - Wikipedia• Two-way participation• User-generated content• Transparency 8
How social media is different “...social media is a blending of technology and social interaction for the co-creation of value...” - Wikipedia• Two-way participation• User-generated content• Transparency• Credibility 8
How social media is different “...social media is a blending of technology and social interaction for the co-creation of value...” - Wikipedia• Two-way participation• User-generated content• Transparency• Credibility• Trust 8
How social media is different “...social media is a blending of technology and social interaction for the co-creation of value...” - Wikipedia• Two-way participation• User-generated content• Transparency• Credibility• Trust• Online “communities of interest” 8
Importance of online communities 9
Importance of online communities Social networks are how we connect with others 9
Importance of online communities Social networks are how we connect with others Communities of interest are why we connect 9
Importance of online communities Social networks are how we connect with others Communities of interest are why we connect• Identify topics around which people converse • Participate in existing communities • Create your own community 9
Importance of online communities Social networks are how we connect with others Communities of interest are why we connect• Identify topics around which people converse • Participate in existing communities • Create your own community• Provide ways to engage with the community 9
Importance of online communities Social networks are how we connect with others Communities of interest are why we connect• Identify topics around which people converse • Participate in existing communities • Create your own community• Provide ways to engage with the community• Size doesn’t matter...engagement does 9
The Problem with mostHospital Marketing 10
Wrong positioning Product • A Surgery • A doctor • A new daVinci • Patient tower 11
Wrong positioning Product Service • A Surgery • Friendly • A doctor • Compassionate • A new daVinci • Good experience • Patient tower • Quality awards 11
Trust = engagement ProductTRUSTService • A Surgery • Friendly • Compassionate • • • A doctor “I Believe” A new daVinci • Good experience • Most Effective Quality awards • Patient tower • • Address my issues • I won’t get hurt (or die!) 12
Continuum of “I-Don’t-Care” Don’t Care Care somewhat Care deeply (not engaged) (kinda engaged) (have an opinion) n s ing Opinio Shar g Rese archin g Disc overin 13
Continuum of “I-Don’t-Care” Don’t Care Care somewhat Care deeply (not engaged) (kinda engaged) (have an opinion) n s ing Opinio Shar g Rese archin g Disc overin 13
Continuum of “I-Don’t-Care” Don’t Care Care somewhat Care deeply (not engaged) (kinda engaged) (have an opinion) n s ing Opinio Shar g Rese archin g Disc overin 13
Social media establishes relevanceEngagement through the “Continuum of I-Don’t-Care” Don’t Care Care somewhat Care deeply (not engaged) (kinda engaged) (have an opinion) Facebook Gowalla Forums Twitter Flickr SMM UStream Digg LinkedIn Yelp! SlideShare Local Carepages Tumblr Amplify Microsites Listings pinion s Foursquare S haring O Support Blogs g archin YouTube Groups Rese g Disc overin 14
Engaging an existing community 15
Engaging an existing community 15
Engaging an existing community 15
MyHealthybaby.org (over 6 mo. period) • 400 “Find a Doctor” inquiries • 240 “Baby and Me” eNewsletter subscribers 16
What can (or do) you measure?• Friends, fans & followers• Reach, relationship & reputation• Strength, sentiment & passion• 100 ways to measure: http://bit.ly/100ways 17
What can (or do) you measure?• Friends, fans & followers• Reach, relationship & reputation• Strength, sentiment & passion• 100 ways to measure: http://bit.ly/100ways 17
What can (or do) you measure?• Friends, fans & followers• Reach, relationship & reputation• Strength, sentiment & passion• 100 ways to measure: http://bit.ly/100ways Where’s the beef (ROI)? 17
Is ROI truly “ROI”? 18
Is ROI truly “ROI”?• Return on Results (ROR) 18
Is ROI truly “ROI”?• Return on Results (ROR)• Return on Opportunity (ROO) 18
Is ROI truly “ROI”?• Return on Results (ROR)• Return on Opportunity (ROO)• Return on Engagement (ROE) 18
Is ROI truly “ROI”?• Return on Results (ROR)• Return on Opportunity (ROO)• Return on Engagement (ROE)• Likes Accumulated from Facebook Followers (LAFF) 18
Is ROI truly “ROI”?• Return on Results (ROR)• Return on Opportunity (ROO)• Return on Engagement (ROE)• Likes Accumulated from Facebook Followers (LAFF)• Time We Invest in Twitter Spam (TWITS) 18
How do we define ROI? “We don’t have a good global way for gathering everything...but we do have anecdotal slices (what I call ‘biopsies’) that show significant return in selected areas.” - Lee Aase “For healthcare, when your social media efforts cause someone to use or recommend your services” - @lasthome “I tie social media ROI to traditional campaign efforts and not isolate it. Also, perhaps you could count transactional/ behavioral ROI and not just financial. ” - Rebekkah Green 19
Clarifying the definition of ROI“The term ‘ROI’ is potentially misleading unless you canshow a direct, tangible financial return from the effort. ROI is popping up on virtually every presentation but 8times out of 10 the ‘return’ discussed is the number ofinquiries or some measure of public opinion. Those are valuable measuresbut they aren’t ROI. ”- David Marlowe 20
ROI should always be tied to $$$“Social Media ROI reflects any other marketing-related ROI:the net financial revenue to the organization from the effort,after having accounted for the efforts costs. FI-NAN-CIALmoneydoughbottom linecoinor, as I like to call it,ROI”- Chris Bevolo 21
If you’re notimpacting oneof these... 22
If you’re notimpacting oneof these... ...why bother? 22
Using social media to drive growth goals• Tap into communities of interest• Rely on strong (and measurable) call-to-actions• Lead social media efforts to conversion points• Build engagement through the “Continuum of I-Don’t Care” 23
Using social media to drive growth goals• Tap into communities of interest• Rely on strong (and measurable) call-to-actions• Lead social media efforts to conversion points• Build engagement through the “Continuum of I-Don’t Care”Tip(s): 23
Using social media to drive growth goals• Tap into communities of interest• Rely on strong (and measurable) call-to-actions• Lead social media efforts to conversion points• Build engagement through the “Continuum of I-Don’t Care”Tip(s):• Promote elective, “consumer-choice” procedures/programs 23
Using social media to drive growth goals• Tap into communities of interest• Rely on strong (and measurable) call-to-actions• Lead social media efforts to conversion points• Build engagement through the “Continuum of I-Don’t Care”Tip(s):• Promote elective, “consumer-choice” procedures/programs• Use social media to promote foundation activities 23
Driving growth goals:example “ROI” chart Tool Function Measurement* • Create multiple pages to focus • Fans/likes on “communities of interest” • Click-throughs of links from • Promote free ways to FB page participate in campaigns/seminars • CTR of FB ads • Use events and polls to gain • Analytics on website to interaction measure links-in and behavior • Facebook advertising • Conversion rates from seminars • Use claimed listings as ways to • Checkin’s promote clinics • Analytics on website to • Ensure message is appropriate measure links-in and behavior for employees and patients • Create specialized URL to measure unique traffic * Always track back to financial measurement 24
Using Facebook to promote bariatrics• Identify Facebook audience in No. VA interested in weight-loss• Create two ads promoting bariatric seminars• Direct ads to landing page• $479 monthly spend 25
The results: 26
The results: • Over three month period: 296 clicks/month • .03 CTR (average CTR for Facebook PPC is .02) • $1.62/click 26
The results: • Over three month period: 296 clicks/month • .03 CTR (average CTR for Facebook PPC is .02) • $1.62/click • 30 seminar registrations 26
The results: • Over three month period: 296 clicks/month • .03 CTR (average CTR for Facebook PPC is .02) • $1.62/click • 30 seminar registrations • 23% seminar registration/surgery conversion rate 26
The results: • Over three month period: 296 clicks/month • .03 CTR (average CTR for Facebook PPC is .02) • $1.62/click • 30 seminar registrations • 23% seminar registration/surgery conversion rate • Average $3,000 contribution margin from surgery 26
The results: • Over three month period: 296 clicks/month • .03 CTR (average CTR for Facebook PPC is .02) • $1.62/click • 30 seminar registrations • 23% seminar registration/surgery conversion rate • Average $3,000 contribution margin from surgery • $20,700 profit originated from campaign 26
The results: • Over three month period: 296 clicks/month • .03 CTR (average CTR for Facebook PPC is .02) • $1.62/click • 30 seminar registrations • 23% seminar registration/surgery conversion rate • Average $3,000 contribution margin from surgery • $20,700 profit originated from campaign • 42x ROI 26
Using social media to lower marketing& communication costs• Aggregate and populate (“be everywhere”)• Train spokespeople on social media best-practices• Train social media staff on media handling• Remember communications is different than marketing• Emphasize story-telling 27
Using social media to lower marketing& communication costs• Aggregate and populate (“be everywhere”)• Train spokespeople on social media best-practices• Train social media staff on media handling• Remember communications is different than marketing• Emphasize story-tellingTip(s): 27
Using social media to lower marketing& communication costs• Aggregate and populate (“be everywhere”)• Train spokespeople on social media best-practices• Train social media staff on media handling• Remember communications is different than marketing• Emphasize story-tellingTip(s):• Publish press releases on your website, and link to them 27
Using social media to lower marketing& communication costs• Aggregate and populate (“be everywhere”)• Train spokespeople on social media best-practices• Train social media staff on media handling• Remember communications is different than marketing• Emphasize story-tellingTip(s):• Publish press releases on your website, and link to them• Use social media to gather additional stories from patients 27
Lower costs goals:example “ROI” chart Tool Function Measurement* • Promote press stories to wide- • RT’s spread audience • # of inquiries from local • Real-time coverage of press media events • Earned media coverage • Links back to press releases on • Traffic to press release site website • Phone calls to PR team • Video press releases and • Video views statements • Click-throughs from • Stories/testimonials YouTube URL to main site • Create online video press site, • Cross-linking/embeds with top stories •Every video SEO’d with CTA * Always track back to financial measurement 28
Viral promotion of sleep lab services • Promoted sleep lab services and targeted patients with insominia • Received 10,000 viewers and 5.5 million media impressions • ROI calculation (using AVE): (# of media impressions x potential viewers x probability of views x ad equivalency price) - cost of effort]_____________________________________________________________________ cost of effort 29
Viral promotion of sleep lab services 30
Viral promotion of sleep lab services Potential ROI calculation: 30
Viral promotion of sleep lab services Potential ROI calculation:• Total reach of the program: 5.5 million impressions 30
Viral promotion of sleep lab services Potential ROI calculation:• Total reach of the program: 5.5 million impressions • 10% of actual audience will see the message*: 550,000 people 30
Viral promotion of sleep lab services Potential ROI calculation:• Total reach of the program: 5.5 million impressions • 10% of actual audience will see the message*: 550,000 people • 20% of those seeing the message will find it relevant*: 110,000 30
Viral promotion of sleep lab services Potential ROI calculation:• Total reach of the program: 5.5 million impressions • 10% of actual audience will see the message*: 550,000 people • 20% of those seeing the message will find it relevant*: 110,000 • 10% of those finding it relevant will want to learn more*: 11,000 30
Viral promotion of sleep lab services Potential ROI calculation:• Total reach of the program: 5.5 million impressions • 10% of actual audience will see the message*: 550,000 people • 20% of those seeing the message will find it relevant*: 110,000 • 10% of those finding it relevant will want to learn more*: 11,000• 10% of those with interest will enlist sleep services: 1,100 30
Viral promotion of sleep lab services Potential ROI calculation:• Total reach of the program: 5.5 million impressions • 10% of actual audience will see the message*: 550,000 people • 20% of those seeing the message will find it relevant*: 110,000 • 10% of those finding it relevant will want to learn more*: 11,000• 10% of those with interest will enlist sleep services: 1,100• Contribution margin for sleep services: $1000 30
Viral promotion of sleep lab services Potential ROI calculation:• Total reach of the program: 5.5 million impressions • 10% of actual audience will see the message*: 550,000 people • 20% of those seeing the message will find it relevant*: 110,000 • 10% of those finding it relevant will want to learn more*: 11,000• 10% of those with interest will enlist sleep services: 1,100• Contribution margin for sleep services: $1000• Total cost to promote program: $10,000 30
Viral promotion of sleep lab services Potential ROI calculation:• Total reach of the program: 5.5 million impressions • 10% of actual audience will see the message*: 550,000 people • 20% of those seeing the message will find it relevant*: 110,000 • 10% of those finding it relevant will want to learn more*: 11,000• 10% of those with interest will enlist sleep services: 1,100• Contribution margin for sleep services: $1000• Total cost to promote program: $10,000 ROI Calculation: [(1,100 x $1,000) - $10,000]/$10,000 = 109% ROI 30
Viral promotion of sleep lab services Potential ROI calculation:• Total reach of the program: 5.5 million impressions • 10% of actual audience will see the message*: 550,000 people • 20% of those seeing the message will find it relevant*: 110,000 • 10% of those finding it relevant will want to learn more*: 11,000• 10% of those with interest will enlist sleep services: 1,100• Contribution margin for sleep services: $1000• Total cost to promote program: $10,000 ROI Calculation: [(1,100 x $1,000) - $10,000]/$10,000 = 109% ROI*These are assumptions that should be negotiated 30
Using social media to increase patient& physician satisfaction & loyalty• Provide relevant information to “non-consumers”• Often used for crisis management & service recovery• Monitor real-time feedback• Educate and act transparently• Correlation vs. causation 31
Using social media to increase patient& physician satisfaction & loyalty• Provide relevant information to “non-consumers”• Often used for crisis management & service recovery• Monitor real-time feedback• Educate and act transparently• Correlation vs. causation Tip(s): 31
Using social media to increase patient& physician satisfaction & loyalty• Provide relevant information to “non-consumers”• Often used for crisis management & service recovery• Monitor real-time feedback• Educate and act transparently• Correlation vs. causation Tip(s):• Consider engaging in wellness campaigns 31
Using social media to increase patient& physician satisfaction & loyalty• Provide relevant information to “non-consumers”• Often used for crisis management & service recovery• Monitor real-time feedback• Educate and act transparently• Correlation vs. causation Tip(s):• Consider engaging in wellness campaigns• Promote the breadth of your hospital’s offering 31
Improved patient/physician loyalty:example “ROI” chart Tool Function Measurement* • Share relevant wellness/health • Fans/follower of all messages from other sources communities • Create other “communities of • Likes, reposts, interactivity interest” to encourage deeper • Click-throughs of content engagement to your website • Use polls, photos to provide ways for two-way dialogue • Promote best-in-class • Number of group members opportunities to work • Physician interaction • Create forums for physician • Employment inquiries to leaders to highlight expertise HR • Link to top stories * Always track back to financial measurement 32
Using social media to promote wellness• 7,200 registrants• 550 Facebook followers• 6,500 updated CRM records (2,250 entirely new records)• 500 cross-promoted into other eNewsletter programs 33
Correlated revenue through FitFor50 34
Correlated revenue through FitFor50• 325 participants to enroll in 8K fundraising fitness run (ROI: $20 x 325 = $6500) 34
Correlated revenue through FitFor50• 325 participants to enroll in 8K fundraising fitness run (ROI: $20 x 325 = $6500)• Utilization over 3 month period (Nov - Jan): 34
Correlated revenue through FitFor50• 325 participants to enroll in 8K fundraising fitness run (ROI: $20 x 325 = $6500)• Utilization over 3 month period (Nov - Jan): 34
Correlated revenue through FitFor50• 325 participants to enroll in 8K fundraising fitness run (ROI: $20 x 325 = $6500)• Utilization over 3 month period (Nov - Jan): New: $10,534 34
Correlated revenue through FitFor50• 325 participants to enroll in 8K fundraising fitness run (ROI: $20 x 325 = $6500)• Utilization over 3 month period (Nov - Jan): New: $10,534 Total: $101,733 34
Using CRM to measuresocial media engagement 35
Measuring “true” ROI in social media 36
Measuring “true” ROI in social media Facebook Fans 36
Measuring “true” ROI in social media Facebook Fans Not on Facebook 36
Measuring “true” ROI in social media Facebook Fans Not on Facebook CRM 36
Measuring “true” ROI in social media Facebook Fans Not on Facebook CRM•• Demographics Behaviors = • • Demographics Behaviors 36
Measuring “true” ROI in social media Facebook Fans Not on Facebook CRM•• Demographics Behaviors = • • Demographics Behaviors Δ utilization/time = True social media ROI 36
Chris’ “silver bullets” to get started 37
Chris’ “silver bullets” to get started• Build trust through social media by being relevant 37
Chris’ “silver bullets” to get started• Build trust through social media by being relevant• Create a plan and negotiate ROI measurements 37
Chris’ “silver bullets” to get started• Build trust through social media by being relevant• Create a plan and negotiate ROI measurements• If you don’t have a CRM, get one. If you do, use it more! 37
Chris’ “silver bullets” to get started• Build trust through social media by being relevant• Create a plan and negotiate ROI measurements• If you don’t have a CRM, get one. If you do, use it more!• Promote successes; learn from failures 37
Chris’ “silver bullets” to get started• Build trust through social media by being relevant• Create a plan and negotiate ROI measurements• If you don’t have a CRM, get one. If you do, use it more!• Promote successes; learn from failures• The more data, the better 37
Questions? Chris Boyer @chrisboyerwww.facebook.com/christopher.boyer @InovaHealth www.facebook.com/InovaHealth 38
Nicole Cable Bailey
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