Social Media ROI Presentation

Social Media ROI Process, Challenges and Requirements Jacob Morgan Chess Media Group November 18, 2009

Risk of Ignoring Risk of Ignoring

Return on Influence

What is ROI? Gain from Investment – Cost of Investment Cost of Investment ROI = Financial

Sales is Not ROI
Making $3M is not ROI
Especially if it cost $4M to make the $3M
You can have positive sales and negative ROI
Have to take into account investment and return

Types of ROI Make money Save money
Save on research costs
Save on time spent, which translates to dollars
Save on technology or business costs
Save on product development costs
Increase number of customers
Increase how much people spend
Increase how often people spend
Increase customer
retention

The ROI Number
Meaningless without context
Must understand variables that affect ROI
Presence on social networks
Amount of activity
Type of campaigns
Tells you:
What works, what doesn’t
Where should you be putting your money

What is Impact?
Clicks
Impressions
Page views
Comments
Re-tweets
Size of network
Non-Financial

Lord Kelvin
“ W hen you can measure what you are speaking about, and express it in numbers, you know something about it; but when you cannot measure it, when you cannot express it in numbers, your knowledge is of a meager and unsatisfactory kind: it may be the beginning of knowledge, but you have scarcely, in your thoughts, advanced to the state of science."

Take a Deep Breath Relax

Build a Foundation Stop trying to build this Without starting with this Or you get this

Breaking and Building
Have to break things down in order to build them up again properly
New platform, new game, new way of doing things
Don’t justify lack of measurement with old marketing methodologies

Short Term vs Long Term
1-3 month + campaigns
Fragmented measurement
No framework in place
Scrambling to show results
Campaign is over, launch another
Only look at short term results
1 year + strategy
Integrated measurement
ROI and measurement framework
Results are clear across campaigns
Can keep launching campaigns based off of measurement
Look at short term and long term results

Measurement Foundation

The Social Business Process

Business Challenges
Corporate culture
Customer information
Sales data
Customer research
Managing expectations
Time frame, budget, capabilities
Department fragmentation
Semantics
What is ROI?

Technology Challenges
Customer tracking
Social networks and over time
Data and analytics
Managed by multiple parties
How do you get all the data and make analytics/data platforms talk to each other?
Making sense of the data
Interpreting results from various data sources

Requirements for Enterprise
At least 1 year engagement
Social media team NOT 1 person
Budgeting
Social media strategy
$200k+ (comprehensive)
$10k+ ongoing for monthly engagements
Technology
Integrating and aggregating data (one time)
$50k for minimal work
$200k+ for comprehensive work

Thank You
[email_address]
Blog: JMorganMarketing.com
Website: ChessMediaGroup.com
Twitter: @JacobM
Book: Twittfaced /Amazon

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Social Media ROI Presentation

by Jacob Morgan

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