Social Media    ROI ReformMeasuring the success of yourhospital’s social media efforts
About me  •   Director, Digital Marketing and      Communications, Inova Health System  •   Advisory Board Member,      Ma...
I feel sorry for traditional media
I feel sorry for traditional media  • Badthe news in the NYT is at least a day old”    “All         timing
I feel sorry for traditional media  • Badthe news in the NYT is at least a day old”    “All         timing  • One-way conv...
I feel sorry for traditional media  • Badthe news in the NYT is at least a day old”    “All         timing  • One-way conv...
I feel sorry for traditional media  • Badthe news in the NYT is at least a day old”    “All         timing  • One-way conv...
I feel sorry for traditional media  • Badthe news in-the NYT is at least a day old”    “All         timing  • Very expensi...
Social mediamakes sense  for patients   and for us
But why?
How social media is different"A group of Internet-based applications that build on theideological and technological founda...
How social media is different"A group of Internet-based applications that build onthe ideological and technological founda...
How social media is different"A group of Internet-based applications that build on theideological and technological founda...
How social media is different"A group of Internet-based applications that build on theideological and technological founda...
How social media is different"A group of Internet-based applications that build on theideological and technological founda...
How social media is different"A group of Internet-based applications that build on theideological and technological founda...
How I define social media
How I define social media• Two-way participation
How I define social media• Two-way participation• Transparency
How I define social media• Two-way participation• Transparency• Credibility
How I define social media• Two-way participation• Transparency• Credibility• Trust
How I define social media• Two-way participation• Transparency• Credibility• Trust• Humanizes us
How I define social media• Two-way participation• Transparency• Credibility• Trust• Humanizes us• “Communities of Interest”
There’s no roomfor crappy products    (or service) with social media...
There’s no room  for crappy products      (or service)   with social media...That’s transparency
The cornerstone
Continuum of “I-Don’t-Care”  Don’t Care    Care somewhat                                  Care deeply(not engaged)   (kind...
Continuum of “I-Don’t-Care”  Don’t Care    Care somewhat                                  Care deeply(not engaged)   (kind...
Continuum of “I-Don’t-Care”  Don’t Care      Care somewhat                                     Care deeply(not engaged)   ...
Continuum of “I-Don’t-Care”  Don’t Care      Care somewhat                                     Care deeply(not engaged)   ...
Social media is relevantPinterest         Facebook                       Forums  Twitter                         Flickr   ...
Social networks are how we connect.
Social networks are     how we connect.Communities of interest are   why we connect.
•   1500 “Find a Doctor” searches•   800 eNewsletter subscribers
Our business is changing...• Tightening insurance reimbursements• Public reporting of outcome data• Shared-risk model:   •...
Not that this is a bad thing!
Not that this is a bad thing!• Our goal is to improve health
Not that this is a bad thing!• Our goal is to improve health• We want to provide access to high-quality care
Not that this is a bad thing!• Our goal is to improve health• We want to provide access to high-quality care• We do this b...
Not that this is a bad thing!• Our goal is to improve health• We want to provide access to high-quality care• We do this b...
Not that this is a bad thing!• Our goal is to improve health• We want to provide access to high-quality care• We do this b...
Which brings me   to pants
Which brings me   to pantsContrary to popular belief,there is ROI in everything
Which brings me   to pantsContrary to popular belief,there is ROI in everything ...including social media.
Why does the discussion of socialmedia ROI sometimesmake me feel like this?                   23
What’s the controversy?We all should strive to:
What’s the controversy?We all should strive to:• provide the best care
What’s the controversy?We all should strive to:• provide the best care• build strong relationships with patients
What’s the controversy?We all should strive to:• provide the best care• build strong relationships with patients• be fiscal...
What’s the controversy?We all should strive to:• provide the best care• build strong relationships with patients• be fiscal...
Is it really – NO MARGIN, NO MISSION?
Where’s theTalking about financial return seems cold and callous
Is ROI truly “ROI”?
Is ROI truly “ROI”?• Return on Results (ROR)
Is ROI truly “ROI”?• Return on Results (ROR)• Return on Opportunity (ROO)
Is ROI truly “ROI”?• Return on Results (ROR)• Return on Opportunity (ROO)• Return on Engagement (ROE)
Is ROI truly “ROI”?• Return on Results (ROR)• Return on Opportunity (ROO)• Return on Engagement (ROE)• Return on Action (R...
Is ROI truly “ROI”?• Return on Results (ROR)• Return on Opportunity (ROO)• Return on Engagement (ROE)• Return on Action (R...
Is ROI truly “ROI”?• Return on Results (ROR)• Return on Opportunity (ROO)• Return on Engagement (ROE)• Return on Action (R...
What can (or do) you measure?•   Friends, fans & followers•   Reach, relationship & reputation•   Strength, sentiment & pa...
What can (or do) you measure?•   Friends, fans & followers•   Reach, relationship & reputation•   Strength, sentiment & pa...
ROI should always be tied to $$$“Social Media ROI reflects any other marketing-related ROI:the net financial revenue to the ...
ROI = (financial gain/savings - cost)                  cost
Three waysto measure   ROI
1    Profitable services    Profitable patient revenueThree waysto measure   ROI
Driving growth • Use social media to lead to other marketing:    • Websites    • Seminars• Use tools to measure attributio...
Promoting bariatric growth•   Identify Facebook audience in No.VA interested in    weight-loss•   Create two ads promoting...
The results (from just 3 months):•   296 clicks/month•   30 seminar registrations•   23% seminar registration/surgery conv...
Calculating ROIROI = (gain - cost)/cost
Calculating ROI          ROI = (gain - cost)/costGain: $20,700
Calculating ROI          ROI = (gain - cost)/costGain: $20,700Cost: $479 x 3 = $1,437
Calculating ROI          ROI = (gain - cost)/costGain: $20,700Cost: $479 x 3 = $1,437ROI = (20,700 - 1,437)/(1437) = 13.4 ...
Wait a second... you didn’t tell me therewas going to be any math!
2   Lower costs    Improve results
Lowering costs• Aggregate & populate content to many sites• Compliment or replace traditional methods with low-cost social...
Mission Health blog
ROI through cost savings
ROI through cost savings •   14,000 page views/mo •   5 pages/visit •   3:52 avg time on page
ROI through cost savings                             Higher engagement, too! •   14,000 page views/mo •   5 pages/visit • ...
3   How do we    measure this?!?!?
What is thelifetime value of a patient? Photo courtesy Ted Eytan, MD, www.tedeytan.com
Change the way we measure
Change the way we measure• Adopt inbound vs. outbound tactics
Change the way we measure• Adopt inbound vs. outbound tactics• Build & measure engagement instead of growth
Change the way we measure• Adopt inbound vs. outbound tactics• Build & measure engagement instead of growth• Adopt a CRM t...
Change the way we measure• Adopt inbound vs. outbound tactics• Build & measure engagement instead of growth• Adopt a CRM t...
Increasing satisfaction & loyalty• Provide relevant information to “non-patients”• Utilize clinical staff/doctors/nurses t...
Promoting wellness•   7,300 registrants•   575 Facebook followers•   5,000 updated CRM records (2,300 entirely new records)
FitFor50 demographicsAge range
Results
Results•   500 cross-promoted into other wellness newsletters
Results•   500 cross-promoted into other wellness newsletters•   Engaged more than 100 physicians/clinical specialists as ...
Results•   500 cross-promoted into other wellness newsletters•   Engaged more than 100 physicians/clinical specialists as ...
Results•   500 cross-promoted into other wellness newsletters•   Engaged more than 100 physicians/clinical specialists as ...
Results•   500 cross-promoted into other wellness newsletters•   Engaged more than 100 physicians/clinical specialists as ...
Results•   500 cross-promoted into other wellness newsletters•   Engaged more than 100 physicians/clinical specialists as ...
Results•   500 cross-promoted into other wellness newsletters•   Engaged more than 100 physicians/clinical specialists as ...
Results•   500 cross-promoted into other wellness newsletters•   Engaged more than 100 physicians/clinical specialists as ...
Social Media ROI Reform  Don’t Care    Care somewhat                                  Care deeply(not engaged)   (kinda en...
Social Media ROI Reform    Don’t Care             Care somewhat                                                          C...
Social Media ROI rag by Chris BoyerSocial Media ROIIf you’re not gonna measure itThen why you even doin’ it?It’s easy if y...
Questions?    Chris Boyer      @chrisboyer www.christopherboyer.com
Social Media ROI Reform - Measuring the effectiveness of your hospital's social media efforts
Social Media ROI Reform - Measuring the effectiveness of your hospital's social media efforts
Social Media ROI Reform - Measuring the effectiveness of your hospital's social media efforts
Social Media ROI Reform - Measuring the effectiveness of your hospital's social media efforts
Social Media ROI Reform - Measuring the effectiveness of your hospital's social media efforts
Social Media ROI Reform - Measuring the effectiveness of your hospital's social media efforts
Social Media ROI Reform - Measuring the effectiveness of your hospital's social media efforts
Social Media ROI Reform - Measuring the effectiveness of your hospital's social media efforts
Social Media ROI Reform - Measuring the effectiveness of your hospital's social media efforts
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Social Media ROI Reform - Measuring the effectiveness of your hospital's social media efforts

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  • Social Media ROI Reform - Measuring the effectiveness of your hospital's social media efforts

    1. 1. Social Media ROI ReformMeasuring the success of yourhospital’s social media efforts
    2. 2. About me • Director, Digital Marketing and Communications, Inova Health System • Advisory Board Member, Mayo Clinic Center for Social Media • Worked with more than 100 hospitals/physician practices • www.christopherboyer.com • @chrisboyer • www.inova.org/socialmedia
    3. 3. I feel sorry for traditional media
    4. 4. I feel sorry for traditional media • Badthe news in the NYT is at least a day old” “All timing
    5. 5. I feel sorry for traditional media • Badthe news in the NYT is at least a day old” “All timing • One-way conversation
    6. 6. I feel sorry for traditional media • Badthe news in the NYT is at least a day old” “All timing • One-way conversation • Very expensive $114,174
    7. 7. I feel sorry for traditional media • Badthe news in the NYT is at least a day old” “All timing • One-way conversation • Very expensive $114,174 • Not personal
    8. 8. I feel sorry for traditional media • Badthe news in-the NYT is at least a day old” “All timing • Very expensive - $114,174 • Not personal - • Broadcast 4
    9. 9. Social mediamakes sense for patients and for us
    10. 10. But why?
    11. 11. How social media is different"A group of Internet-based applications that build on theideological and technological foundations of Web 2.0, andthat allow the creation and exchange of user-generatedcontent." - Andreas Kaplan & Michael Haenlin
    12. 12. How social media is different"A group of Internet-based applications that build onthe ideological and technological foundations of Web 2.0,and that allow the creation and exchange of user-generated content." - Andreas Kaplan & Michael Haenlin
    13. 13. How social media is different"A group of Internet-based applications that build on theideological and technological foundations of Web 2.0, andthat allow the creation and exchange of user-generated content." - Andreas Kaplan & Michael Haenlin
    14. 14. How social media is different"A group of Internet-based applications that build on theideological and technological foundations of Web 2.0, andthat allow the creation and exchange of user-generated content." - Andreas Kaplan & Michael Haenlin
    15. 15. How social media is different"A group of Internet-based applications that build on theideological and technological foundations of Web2.0, and that allow the creation and exchange of user-generated content." - Andreas Kaplan & Michael Haenlin
    16. 16. How social media is different"A group of Internet-based applications that build on theideological and technological foundations of Web2.0, and that allow the creation and exchange of user-generated content." - Andreas Kaplan & Michael Haenlin
    17. 17. How I define social media
    18. 18. How I define social media• Two-way participation
    19. 19. How I define social media• Two-way participation• Transparency
    20. 20. How I define social media• Two-way participation• Transparency• Credibility
    21. 21. How I define social media• Two-way participation• Transparency• Credibility• Trust
    22. 22. How I define social media• Two-way participation• Transparency• Credibility• Trust• Humanizes us
    23. 23. How I define social media• Two-way participation• Transparency• Credibility• Trust• Humanizes us• “Communities of Interest”
    24. 24. There’s no roomfor crappy products (or service) with social media...
    25. 25. There’s no room for crappy products (or service) with social media...That’s transparency
    26. 26. The cornerstone
    27. 27. Continuum of “I-Don’t-Care” Don’t Care Care somewhat Care deeply(not engaged) (kinda engaged)
    28. 28. Continuum of “I-Don’t-Care” Don’t Care Care somewhat Care deeply(not engaged) (kinda engaged)
    29. 29. Continuum of “I-Don’t-Care” Don’t Care Care somewhat Care deeply(not engaged) (kinda engaged) g Opi nions Sharin esearching R iscovering D
    30. 30. Continuum of “I-Don’t-Care” Don’t Care Care somewhat Care deeply(not engaged) (kinda engaged) g Opi nions Sharin esearching R iscovering D
    31. 31. Social media is relevantPinterest Facebook Forums Twitter Flickr SMM UStream Yelp!Wordpress Angie’s List SlideShare LinkedIn Local ListingsFoursquare Tumblr Microsites g Op inions Google+ S harinYouTube esearching R Blogs iscovering D
    32. 32. Social networks are how we connect.
    33. 33. Social networks are how we connect.Communities of interest are why we connect.
    34. 34. • 1500 “Find a Doctor” searches• 800 eNewsletter subscribers
    35. 35. Our business is changing...• Tightening insurance reimbursements• Public reporting of outcome data• Shared-risk model: • Hospitals • Patients • Physicians• “Go big or go home”
    36. 36. Not that this is a bad thing!
    37. 37. Not that this is a bad thing!• Our goal is to improve health
    38. 38. Not that this is a bad thing!• Our goal is to improve health• We want to provide access to high-quality care
    39. 39. Not that this is a bad thing!• Our goal is to improve health• We want to provide access to high-quality care• We do this because we want to help people
    40. 40. Not that this is a bad thing!• Our goal is to improve health• We want to provide access to high-quality care• We do this because we want to help people• Preventative health is part of our mission
    41. 41. Not that this is a bad thing!• Our goal is to improve health• We want to provide access to high-quality care• We do this because we want to help people• Preventative health is part of our mission BUT we need to be financially profitable!
    42. 42. Which brings me to pants
    43. 43. Which brings me to pantsContrary to popular belief,there is ROI in everything
    44. 44. Which brings me to pantsContrary to popular belief,there is ROI in everything ...including social media.
    45. 45. Why does the discussion of socialmedia ROI sometimesmake me feel like this? 23
    46. 46. What’s the controversy?We all should strive to:
    47. 47. What’s the controversy?We all should strive to:• provide the best care
    48. 48. What’s the controversy?We all should strive to:• provide the best care• build strong relationships with patients
    49. 49. What’s the controversy?We all should strive to:• provide the best care• build strong relationships with patients• be fiscally responsible with marketing
    50. 50. What’s the controversy?We all should strive to:• provide the best care• build strong relationships with patients• be fiscally responsible with marketing Simple.
    51. 51. Is it really – NO MARGIN, NO MISSION?
    52. 52. Where’s theTalking about financial return seems cold and callous
    53. 53. Is ROI truly “ROI”?
    54. 54. Is ROI truly “ROI”?• Return on Results (ROR)
    55. 55. Is ROI truly “ROI”?• Return on Results (ROR)• Return on Opportunity (ROO)
    56. 56. Is ROI truly “ROI”?• Return on Results (ROR)• Return on Opportunity (ROO)• Return on Engagement (ROE)
    57. 57. Is ROI truly “ROI”?• Return on Results (ROR)• Return on Opportunity (ROO)• Return on Engagement (ROE)• Return on Action (ROA)
    58. 58. Is ROI truly “ROI”?• Return on Results (ROR)• Return on Opportunity (ROO)• Return on Engagement (ROE)• Return on Action (ROA)• Likes Accumulated from Facebook Followers (LAFF)
    59. 59. Is ROI truly “ROI”?• Return on Results (ROR)• Return on Opportunity (ROO)• Return on Engagement (ROE)• Return on Action (ROA)• Likes Accumulated from Facebook Followers (LAFF)• Time We Invest in Twitter Spam (TWITS)
    60. 60. What can (or do) you measure?• Friends, fans & followers• Reach, relationship & reputation• Strength, sentiment & passion• 100 ways to measure: http://bit.ly/100ways
    61. 61. What can (or do) you measure?• Friends, fans & followers• Reach, relationship & reputation• Strength, sentiment & passion• 100 ways to measure: http://bit.ly/100ways (R OI)?
    62. 62. 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 @intervalchris
    63. 63. ROI = (financial gain/savings - cost) cost
    64. 64. Three waysto measure ROI
    65. 65. 1 Profitable services Profitable patient revenueThree waysto measure ROI
    66. 66. Driving growth • Use social media to lead to other marketing: • Websites • Seminars• Use tools to measure attribution• Lead social media fans to convert • Opt-in or provide information• Measure your results
    67. 67. Promoting bariatric growth• Identify Facebook audience in No.VA interested in weight-loss• Create two ads promoting bariatric seminars• Direct ads to landing page• $479 monthly spend
    68. 68. The results (from just 3 months):• 296 clicks/month• 30 seminar registrations• 23% seminar registration/surgery conversion rate• Average $3,000 contribution margin from surgery• $20,700 profit originated from campaign
    69. 69. Calculating ROIROI = (gain - cost)/cost
    70. 70. Calculating ROI ROI = (gain - cost)/costGain: $20,700
    71. 71. Calculating ROI ROI = (gain - cost)/costGain: $20,700Cost: $479 x 3 = $1,437
    72. 72. Calculating ROI ROI = (gain - cost)/costGain: $20,700Cost: $479 x 3 = $1,437ROI = (20,700 - 1,437)/(1437) = 13.4 or 1340%
    73. 73. Wait a second... you didn’t tell me therewas going to be any math!
    74. 74. 2 Lower costs Improve results
    75. 75. Lowering costs• Aggregate & populate content to many sites• Compliment or replace traditional methods with low-cost social media means• Train others to assist with your social media efforts• Encourage patients to tell their story• Measure the money you save
    76. 76. Mission Health blog
    77. 77. ROI through cost savings
    78. 78. ROI through cost savings • 14,000 page views/mo • 5 pages/visit • 3:52 avg time on page
    79. 79. ROI through cost savings Higher engagement, too! • 14,000 page views/mo • 5 pages/visit • 3:52 avg time on page
    80. 80. 3 How do we measure this?!?!?
    81. 81. What is thelifetime value of a patient? Photo courtesy Ted Eytan, MD, www.tedeytan.com
    82. 82. Change the way we measure
    83. 83. Change the way we measure• Adopt inbound vs. outbound tactics
    84. 84. Change the way we measure• Adopt inbound vs. outbound tactics• Build & measure engagement instead of growth
    85. 85. Change the way we measure• Adopt inbound vs. outbound tactics• Build & measure engagement instead of growth• Adopt a CRM to measure patient & physician behavior
    86. 86. Change the way we measure• Adopt inbound vs. outbound tactics• Build & measure engagement instead of growth• Adopt a CRM to measure patient & physician behavior• Focus on building the lifetime value of the patient
    87. 87. Increasing satisfaction & loyalty• Provide relevant information to “non-patients”• Utilize clinical staff/doctors/nurses to build trust• Assist with patient education and compliance• When measuring ROI, think correlation vs. causation
    88. 88. Promoting wellness• 7,300 registrants• 575 Facebook followers• 5,000 updated CRM records (2,300 entirely new records)
    89. 89. FitFor50 demographicsAge range
    90. 90. Results
    91. 91. Results• 500 cross-promoted into other wellness newsletters
    92. 92. Results• 500 cross-promoted into other wellness newsletters• Engaged more than 100 physicians/clinical specialists as SME’s
    93. 93. Results• 500 cross-promoted into other wellness newsletters• Engaged more than 100 physicians/clinical specialists as SME’s• Used as part of B-2-B corporate wellness program
    94. 94. Results• 500 cross-promoted into other wellness newsletters• Engaged more than 100 physicians/clinical specialists as SME’s• Used as part of B-2-B corporate wellness program• Life-to-date utilization (contribution margin):
    95. 95. Results• 500 cross-promoted into other wellness newsletters• Engaged more than 100 physicians/clinical specialists as SME’s• Used as part of B-2-B corporate wellness program• Life-to-date utilization (contribution margin): • “New” patient CM: $38,000
    96. 96. Results• 500 cross-promoted into other wellness newsletters• Engaged more than 100 physicians/clinical specialists as SME’s• Used as part of B-2-B corporate wellness program• Life-to-date utilization (contribution margin): • “New” patient CM: $38,000 • “Former” patient CM: $274,000
    97. 97. Results• 500 cross-promoted into other wellness newsletters• Engaged more than 100 physicians/clinical specialists as SME’s• Used as part of B-2-B corporate wellness program• Life-to-date utilization (contribution margin): • “New” patient CM: $38,000 • “Former” patient CM: $274,000 • Total CM: $305,600
    98. 98. Results• 500 cross-promoted into other wellness newsletters• Engaged more than 100 physicians/clinical specialists as SME’s• Used as part of B-2-B corporate wellness program• Life-to-date utilization (contribution margin): • “New” patient CM: $38,000 • “Former” patient CM: $274,000 • Total CM: $305,600 Correlated vs. Causal ROI
    99. 99. Social Media ROI Reform Don’t Care Care somewhat Care deeply(not engaged) (kinda engaged)
    100. 100. Social Media ROI Reform Don’t Care Care somewhat Care deeply (not engaged) (kinda engaged) Referral to other svcs Discharge compliance Fitness & community classes Preparing for encounter Physicians building trust Shift to low-cost marketingWellness messaging Promote “patient choice” care
    101. 101. Social Media ROI rag by Chris BoyerSocial Media ROIIf you’re not gonna measure itThen why you even doin’ it?It’s easy if you tryJust like your marketingYou should be measuring everythingUse CRM to help you outIt’s simple, so let’s cry out:“Social Media ROI”Impress your CFOIt’s the only way to go
    102. 102. Questions? Chris Boyer @chrisboyer www.christopherboyer.com

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