Social Media ROI: Whats the Fuss?

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This deck was used in a panel discussion at the India Social Summit (ISS10) on Dec 17. It has:
a. view on ROI
b. case studies
c. pointers on how to get started

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Social Media ROI: Whats the Fuss?

  1. 1. ROI: WHAT'S THE FUSS? Aseem Sood COO Impact Research & Measurement Pvt. Ltd. twitter: @aseemsood Email : asood@impactmeasurement.co.in www.impactmeasurement.co.in
  2. 2. ROI IS NOT # OF FOLLOWERS Source: KD Paine Cost Savings + Cost of program - Cost elimination Greater Efficiency + Cost of program - Cost old way Greater Revenue + Cost of program - Value of leads/ sales INVESTMENT
  3. 3. # OF FOLLOWERS IS STILL A GOOD MEASURE Source: Don Bartholomew Depends on your need Exposure Engagement Influence Action <ul><li>Brand Mentions </li></ul><ul><li>Share of +ve discussions </li></ul><ul><li>Comment Sentiment </li></ul><ul><li># of Followers </li></ul><ul><li>Comments/ Post Ratio </li></ul><ul><li>Number of links </li></ul><ul><li>Number of retweets </li></ul><ul><li>Bookmarks/ likes </li></ul><ul><li>Resolution rate </li></ul><ul><li>Likelihood to recommend a friend </li></ul><ul><li>Ratings </li></ul><ul><li>Reviews </li></ul><ul><li>Buy the product </li></ul><ul><li>Vote for/ against </li></ul><ul><li>Visit the store </li></ul><ul><li>Attend the event </li></ul>Closer to ROI
  4. 4. PRIVATE DATA IS NOT AVAILABLE Source: Don Bartholomew Depends on your need Exposure Engagement Influence Action <ul><li>Brand Mentions </li></ul><ul><li>Share of +ve discussions </li></ul><ul><li>Comment Sentiment </li></ul><ul><li># of Followers </li></ul><ul><li>Comments/ Post Ratio </li></ul><ul><li>Number of links </li></ul><ul><li>Number of retweets </li></ul><ul><li>Bookmarks/ likes </li></ul><ul><li>Resolution rate </li></ul><ul><li>Likelihood to recommend a friend </li></ul><ul><li>Ratings </li></ul><ul><li>Reviews </li></ul><ul><li>Buy the product </li></ul><ul><li>Vote for/ against </li></ul><ul><li>Visit the store </li></ul><ul><li>Attend the event </li></ul>Private data Available in public domain/ Agencies can access
  5. 5. SOCIAL MEDIA APPROACH Source: Dell
  6. 6. ROI CAN BE MEASURED AT EACH STEP Cost Savings Greater Efficiency Greater Revenue LISTEN ENGAGE ACT
  7. 7. RETURN ON LISTENING = HIGHER REVENUE “ I think the way to win in social media or have success is to not talk but to listen“ Gary Vaynerchuk host of Wine Library TV example 1
  8. 8. RETURN ON NOT LISTENING = LOSS Source: 2009 study performed by Mzinga and Babson Executive Education example 2 <ul><li>One person -Dave Carroll cost United $180M </li></ul><ul><li>Loss = cost of more than 51,000 replacement guitars. </li></ul>Source: YouTube
  9. 9. RETURN ON LISTENING = GREATER EFFICIENCY Source: 2009 study performed by Mzinga and Babson Executive Education In a survey in 2009, 80% of respondents reported that customer stories and suggestions helped them shape their products and services better
  10. 10. RETURN ON ENGAGING = GREATER EFFICIENCY Source: Dell, BrandAutopsy example 3 <ul><li>In Febuary 2007, Dell launched IdeaStorm — an “online suggestion box </li></ul><ul><li>Pre-installed Linux on Dell computers was one of the first ideas generated from IdeaStorm </li></ul><ul><li>' key on Dell Mini moved working with customers on Twitter </li></ul><ul><li>35 other ideas have been put into action as a response to listening to feedback from customers on IdeaStorm </li></ul>
  11. 11. DELL MEASURES SM REVENUES AS WELL Total Online Community Size 2 billion people 3.5 million people Revenue $52 billion - Twitter 1.5 million people $6.5 million from Twitter @DellOutlet $3mn @DellnoBrasil $0.8 mn @DellHomeSalesCA $150K Cont... example 3 Source: Dell
  12. 12. “ WE ARE ALL ABOUT LISTENING”, Dell Cont... example 3 Source: Dell <ul><li>Michael Dell unveiled the Social Media Listening Command Center </li></ul><ul><li>Trained more than 5,000 workers on how to use social media </li></ul>
  13. 13. TAKING LISTENING TO THE NEXT LEVEL Cont... example 3 Source: Dell <ul><li>Monitor more than 22,000 Dell-related topic posts </li></ul><ul><li>Average daily mentions of Dell on Twitter alone have a greater reach than the combined circulation of the top 12 daily newspapers in the United States </li></ul><ul><li>90% of the time Dell enters into a conversation, it “wins.” </li></ul>
  14. 14. Where do I start? <ul><li>START LISTENING </li></ul>
  15. 15. START LISTENING – Telecom Example *Green color number denotes Positive Conversation Red color number denotes Negative Conversation
  16. 16. OBSERVE TRENDS *Green color number denotes Positive Conversation Red color number denotes Negative Conversation
  17. 17. Thank you! This document is issued in confidence for the purpose only for which it is produced. It must not be reproduced in whole or in part, or stored in a retrieval system or transmitted in any form or by any means, electronic or mechanical including photocopying and recording or otherwise for any purpose other than under agreement or with the consent in writing from Impact Research & Measurement Pvt. Ltd. Aseem Sood COO Impact Research & Measurement Pvt. Ltd. twitter: @aseemsood Email : asood@impactmeasurement.co.in Web: www.impactmeasurement.co.in To see which companies and which leaders are trending in Indian Print Media REAL-TIME, see Companies: http://bit.ly/aTkuXf CxOs: http://bit.ly/gXAQ3T

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