Tools to Measure Twitter & Facebook ROI

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In teh fast paced of social media marketing, how do you keep track on Return on Engagement(ROE), Return on Conversations (ROC) and ROI.

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Tools to Measure Twitter & Facebook ROI

  1. 1. Presented by MARVIN DEJEAN AUTHOR- SPEAKER & DIGITAL MARKETING EXPERT TOOLS TO MEASURE TWITTER & FACEBOOK ROI AND IMPACT  YOU
  2. 2. WHAT IS SOCIAL MEDIA??????
  3. 3. Inability to measure ROI [ Source: MarketingSherpa]
  4. 4. THE RULES OF SOCIAL MEDIA MEASUREMENT <ul><li>Begin with the end In Mind (What is your overall strategy?) </li></ul><ul><li>A Facebook Page and a Twitter Feed is not a social media strategy (Measurement processes will always differ, depending on business goals) </li></ul><ul><li>Social Media is about people. People connecting to other people to build better relationships, fostering communities and increasing collective knowledge </li></ul><ul><li>Measurement and Metrics are one way to help to tell the story of Social Media. </li></ul><ul><li>Listen first before you engage. </li></ul><ul><li>Measurement should be baked into your program before you launch it. It’s not an afterthought, it’s part of the process. </li></ul><ul><li>Learn what to measure: Activity; Tone; Velocity; Attention; Participation Qualitative attributes. </li></ul><ul><li>Qualitative is just as important as numbers (learn how to tell a story)are you part of the conversation for your products/industry?/How is the competition discussed? </li></ul><ul><li>Breaking down these qualitative attributes into bite-size chunks that we can  measure, understand and translate easily into a business context  is a vital step in measuring social media ROI </li></ul>
  5. 6. DEFINING AND SETTING SUCCESS METRICS “ Figure out what success metrics translate easily into a business context for your organization”   Aiming for 10,000 random followers from all over the world might be a nicer number to look at, but being stricter with your success metrics and choosing a more granular goal will make the relationship between the outcome of the campaign and your bottom line easier to understand.
  6. 7. DEFINING AND SETTING SUCCESS METRICS
  7. 8. QUALITATIVE <ul><li>WHAT DO YOU WANT TO MEASURE? </li></ul><ul><li>Reach  – create buzz, get new customers, create awareness </li></ul><ul><li>Reputation and influence  – become an authority/thought leader, improve sentiment </li></ul><ul><li>Engagement  – improve customer and brand loyalty </li></ul><ul><li>These objectives require a more qualitative measurement approach. </li></ul><ul><li>measure ROI for conversations: </li></ul><ul><li>- Are we currently part of conversations about our product/industry? </li></ul><ul><li>How are we currently talked about versus our competitors? </li></ul><ul><li>Then to measure success, we ask whether we were able to: </li></ul><ul><li>- Build better relationships with our key audiences? </li></ul><ul><li>- Participate in conversations where we hadn’t previously had a voice? </li></ul><ul><li>- Move from a running monologue to a meaningful dialogue with customers? </li></ul>
  8. 13. MEASURING ENGAGEMENT You can use standard web analytics tools (Google Analytics) to measure: Visitor Loyalty  – The number of return visitors over 1 month Recency  – The number of return visitors over 1 week Duration  – The length of time spent on the site Actions  – The number of actions taken on the site: downloading, posting, commenting, playing, etc…
  9. 15. <ul><ul><ul><li>How much is a customer worth? </li></ul></ul></ul><ul><ul><ul><li>How much does the average customer spend per transaction? </li></ul></ul></ul><ul><ul><ul><li>Is a customer more likely to purchase a product after some sort of social media interaction? </li></ul></ul></ul><ul><ul><ul><li>How much is it worth to convert an unhappy customer to a happy customer? </li></ul></ul></ul><ul><ul><ul><li>On average how many people does a happy customer tell about a product or service? </li></ul></ul></ul><ul><ul><ul><li>How much can an unhappy customer hurt you? </li></ul></ul></ul><ul><ul><ul><li>[Source: Jacob Morgan, MarketingProfs] </li></ul></ul></ul>MEASURING ENGAGEMENT
  10. 16. Twitter Analyzer
  11. 17. Twendz- Sentiment Monitoring red (negative), white (neutral), and green (positive)
  12. 18. HOOTSUITE
  13. 19. TWITALYZER
  14. 20. SOCIAL MEDIA ROI CALCULATOR
  15. 21. POST RANK ANALYTICS <ul><li>Where did the conversations happen (postrank metrics) </li></ul><ul><li>What did they say (conversation view) </li></ul><ul><li>Who was it (enhanced OpenSocial profiles) </li></ul>
  16. 22. URL SHORTERNERS
  17. 24. TWEET ADDER
  18. 27. <ul><ul><ul><li>POST Method Source: Forrester Research/Groundswell. </li></ul></ul></ul><ul><li>What target market would you most like to attract to your Facebook Fan Page? [ PEOPLE ]: </li></ul><ul><li>What is the primary OBJECTIVE of your Facebook Fan Page? </li></ul><ul><li>What STRATEGIES do you plan to implement? </li></ul><ul><li>What TECHNOLOGIES will you use? </li></ul><ul><li>  </li></ul><ul><li>  </li></ul><ul><li>  </li></ul>Facebook Fan Page Checklist
  19. 30. Marvin Dejean, CEO  Markcom Industries, Inc.  P:(954) 254-9030 info@marvindejean.com  www.marvindejean.com  Twitter:@Mdejean Facebook:Facebook.com/marvindejean  Linkedin:Marvin Dejean  

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