Social Marketing ROI and Beyond: Measuring Return and Relationships

Social Marketing ROI & BeyondMeasuring Return and Relationships
Special Guest:
Dave Wienekewww.usefularts.us/@usefularts
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The Biz 100 Tour: 100 Events on Starting and Growing Your Business
presents
Hosted by
Ja-Naé Duane
Author of “How to Start Your Business with $100”
www.ja-nae.net / @TheSunQueen

Does This Situation Sound Familiar
In Ten Days We Need 40% more booth sales.All marketing budget has been spent.Can Social Marketing fill the gap?
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Does This Situation Sound Familiar
In Ten Days We Need 40% more booth sales.All marketing budget has been spent.Can Social Marketing fill the gap?> What Assets Do You Have? - A List of Prospects? - Are They Aware of the Event? - Are They Predisposed to Do Business with You?
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We Can Measure Financial Investment ROI
Investment Type Risk Duration ReturnCD Low 6 mos 2%
Bond Med 2 yrs 10%
Asset Purchase Med 15 yrs Break even 2yrs. 12% for asset life.
Cable TV Low 3mos 5:1
Billboards Med 6mos 2:1
Direct Mail Med 6 weeks 3:1
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What’s Ahead: Strategy + Hands on Tactics
A New Way to Think of Social ROI.
How to Focus on Results.
Advanced Segmentation to MeasureThe Social Channel.
Why You Must Set Conversion Goals.
Some View of the Future of Social Marketing Measurement.
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Conventional Business Thinking Prefers
Business Results
Booked SalesTrack leads from source
Lead Volume
The Value of Anything I’d Otherwise Budget For.
Email & RSS Subscribers
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Not Activity
Follower / Friend Count
# of Comments Left
Page views.
Influence Scores
Social Booking

Why Can’t We Cut to the Bottom Line
Investment is Sources + Uses
Advertising is Stimulus + ResponseWhy are we missing in social marketing.
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Marketing Goes Deeper In To Customer Relationship
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networks
communities
blogs
micro blogs
broadcast
print
radio
outdoor
Traditional Marketing
-push messaging
-interactive
-automated
-technology dependant
-mass & niche
lower engagement
higher engagement
Social Engagement
-dialogue
-driven by consumers
-personal
-people and technology
-niche
Traditional Marketing
-push messaging
-broadcast
-message oriented
-formal
-authoritative
-mass
banners
micro sites
e-mail
search

“
Real Social Media is Consumer not marketer controlled.
Skipping from campaign to result omits the core of social marketing: the consumer relationship.
Consumers control social media.
”
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Most Investments Are Like Switches
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Social Media is a Faucet
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“
Since Social Media is driven by consumers, you must measure their investment in your brand.
”
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Social Business Thinking Requires Both
Tactical Results
Booked SalesTrack leads from source
Lead Volume
The Value of Anything I’d Otherwise Budget For.
Email & RSS Subscribers
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Consumers Investment in You
Follower / Friend Count
# of Comments Left
Page views.
Influence Scores
Social Booking

We Put New Faces Forward.
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Show Some Deeper Values
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Not All Benefits Are Financial,Those That Are, May Not Be Immediate
What’s the value of a volunteer advocacy?
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The Things That Make Us Relevant In Life Usually Are Off the Balance Sheet.
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Firms Using Only Highly “Result” Measurable Channels May Miss the Best Part.
http://www.marketingsherpa.com/research-detail.html?id=16282
Source: MarketingSherpa, Social Media Marketing and PR Benchmark Survey 2008
Methodology: Fielded December 4-10, 2008, N=1886
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Strategic Asset: 100M views on Youtube
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http://www.brandweek.com/bw/content_display/news-and-features/packaged-goods/e3i2db03fb29d573ec52722456845f5c274

P&G’s Social Networking Site has 350k Members
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As Quantity Becomes Quality, Tactics Becomes Assets
Marketers must focus on aligning their interests with consumer motivations in order to secure consumer investment in their brand.
They should manage creating relationships that can be mobalized to drive awareness, engagement and word of mouth.
Which provides tactical results in sales and marketing processes, and improved results.
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Wait, How Can a Social Media Profile Be Considered More Effective Than An Ad?
Consider what are pre-requisites to be credible:
B2B buyers expect to find Linked In profiles of sales execs.They don’t buy based on them, but they’ll default to those know or can validate.
B2B firms may not have to have blogs, but agencies who serve them do.
Sure you have a website, but without a twitter handle you’re not a noun.
Pre-requisits don’t generate results; their absence denies them.
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Results Are Still Our Bottom Line
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Different Business Models Require Different Outcomes.
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Are We Separating Social Marketers from the Best Brand Marketers?
Marketing
Social
Strategy &Integration
Automation
ToolsEmerge
Listening
Activity
StuntMarketing
SilentMarketing
SocialMedia
PersonalityMarketing
SimplyMarketing
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Relationship Pipeline
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Review
Reach
Respect
Response
Results

Friends, Followers, Subscribers, Readers
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You really, really like me!
Reach

Link clicks, opens, messages, return visits
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My click counts as much as yours.
Response

RTs, Social Mentions, Reviews.
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I’m an A-List <insert media type>!
Respect

Business Results
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RaiseRevenue
Now what shall I wear on Casual Friday?
ProtectThe Business
ReduceCosts
Results

Building Value Through Objectives Is Agnostic
Awareness
Market Positioning
RaiseRevenue
Client Engagement
List Building
SEO – LeadAcquision
Brand Extension
ProtectThe Business
ReduceCosts
CustomerSupport
Crisis Response
User Wants and Needs
InvestorRelations
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Use Existing Value Chains
Public Relations
Awareness, Audience Share
Conversation share, Engagement Measures
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Social Media in Business is Strategic
Social media without a strategy is good for learning and fun, but not business success.
Give it a home in departments that deliver value.Use their models to establish their tactical value chain.
Keep a focus on the investment your consumer make, always look to maximize their equity.
1st Step: Start Segmenting What Your Social Channel Does!
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Analytics Creates Answers
A process to determine an optimal or realistic decision based on existing data.
Alternatives
Consensus
Highest Paid Person’s Opinion (HiPPOs)
Quote Experts
Imitate Competitors
Survey Customers
Large Scale Trail and Error
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Axiom: Segmented Metrics Are More Powerful Than General Measures.
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Measure Social Media as Its Own Segment
Compare Visitors by Medium.
By Section of Site Visited During Session.
By Search Phrase Type (Visitor Intent)

In Google Analytics, Open Up“Advanced Segments”
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Create a new advanced segment!Its easy.
Good News: Segments work retroactively!
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Create Social Segments
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2
3
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Name, Save and Apply
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Compare
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How Do Social Channels Compare to Overall Site Visitors?
More traffic
MoreEngagement
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Set Goals Measure Their Attainment
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Results > Activity

To Establish Goals, Go to Your Account Set Up Page
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Note: Goals changes are permanent data changes, they only work going forward.
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Click Add Goal…
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How Many InquiriesDid Each Segment Deliver?
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Now Compare Which Channels Deliver Traffic More Likely to Convert
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Campaign Tag Your Social Links
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Instead of Shrinking This URL:http://www.usefularts.us/Web3_0_Seminar
Shrink This one Insteadhttp://www.usefularts.us/Web3_0_Seminar?utm_source=Twitter&utm_medium=Social&utm_content=Sept13&utm_campaign=Web3.0_Seminar

Social is Distributed, So Use Tagging.
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Or Save a Step By Doing Both at Once!
Answer Questions
Tagged Link
Shrunk Link!
Link: http://www.websharedesign.com/tools/twitter-tag-tool/
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Advanced Tactics
Use Campaign Tagging and Sneaking Analytics Code on Social Networks for more data.
If you don’t have a lead system, consider scripting to capture analytics cookies and pass their values to your CRM.
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Don’t Fall for False Exactitude.
Many social networks have sketchy analytics.
Even the best web analytics are directional, though they are systematic.
Test for statistical significance to be sure.
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Social Analytics Aggregation Will Emerge.
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Dare to Refute ROI with Value on Investment
Outcomes (awareness and sentiment) are non-financial but can be valued.
Brand & culture benefit is totally off the books.
Financial measures are possible, but are necessarily incomplete. Focusing only on them creates blind spots and opportunity costs.
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There Are A Ton of Resources
Free video training on the workings of Google Analytics. A free analytic tools on >70% of web pages.
http://www.hubspot.com/marketing-resources/
http://www.google.com/support/conversionuniversity
Tools and Knowledge to Measure and Optimize Your Marketing.
http://usefularts.us/2010/04/29/google-analytics-individual-qualification-tips/
Free Research on the latest trends in PR and social media, including measurement.
http://www.mycustomer.com/topic/customer-intelligence/jim-sterne-social-media-measurement-and-accuracy-problem/107226
http://econsultancy.com/us/reports/social-media-and-online-brand-monitoring-trends-briefing
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Contact Me
* Disclaimer: opinions expressed are mine, trademarks belong to their respective owners.
I’m not a lawyer but I help market them on tv. This presentation contains no legal advice or opinions.
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Keep the conversation going:
Tweet: @usefulartsBlog: www.usefularts.usEmail: strategy2.0@gmail.com
Special thanks to the digital marketing team at Sokolove Law,and to the Biz100 Tour: 100 Ideas to Start and Grow Your Business for $100.

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Keep the conversation going
Tweet: @TheSunQueenBlog: www.ja-nae.netEmail:janae_duane@yahoo.com
Tweet: @usefulartsBlog: www.usefularts.usEmail: strategy2.0@gmail.com
* Disclaimer: opinions expressed are Dave’s, trademarks belong to their respective owners.
I’m not a lawyer but I help market them on tv. This presentation contains no legal advice or opinions.

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For More Information on the Biz 100 Tour
www.Biz100Tour.com
www.ja-nae.net

Social Marketing ROI and Beyond: Measuring Return and Relationships

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