ROI in Social Media Marketing; Measure, Monitor & React with Michael Leander

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In this Markedu webinar, Michael Leander will show you how you can measure and monitor your social media marketing activities and how you can increase your social media marketing ROI by reacting to the knowledge you obtain.

Using his own practical and hands-on experiences, Michael Leander will share with you:

- How to identify social media marketing goals or KPI’s
- How to calculate the ROI for social media marketing activities
- Which tools to use to monitor and measure your social media marketing ROI

He will also provide you real-life examples of how his own activities are measured and reacted upon.

If social media marketing ROI is on your agenda, this webinar will give you inspiration and food-for-thought that can help you address Return on Marketing Investment for your social media marketing activities.

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ROI in Social Media Marketing; Measure, Monitor & React with Michael Leander

  1. 1. Measure,Monitor andReact to increaseyour SocialMedia MarketingROI with MichaelLeander Michael Leander on Twitter
  2. 2. These slides were presented by marketingspeaker Michael Leander at a free Markedu webseminarYou can check here to see more free webseminars about marketing, social media, emailmarketing, branding and more
  3. 3. Today’s content• Introduction to ROMI (Return on Marketing Investment) also known as Marketing ROI• How to identify social media marketing goals or KPI’s• How to calculate the ROI for social media marketing activities• Which tools to use to monitor and measure your social media marketing ROI
  4. 4. 90-9-1 rule of thumb• 90% will only consume content• 9% will engage periodically, but only when the conversation stirkes them as interesting• 1% is the engaged audience driving the conversation in your social community. They support and provide value for the community to read, hear, view
  5. 5. Half the money I spend onadvertising is wasted; the troubleis I dont know which half.John Wanamaker (1838-1922)
  6. 6. The sole purpose of marketing is to getmore people to buy more of your productor service, more often, for more money.That is the only reason to spend a single,dollar, yen, euro. If your marketing is notdelivering paying customers to the cashregister with their wallets in their handsready to buy your product or service, don’tdo it.
  7. 7. Marketing, no matter what practitionersthought in the past is more science, than art.It is no longer necessary to rely on hunch,hope, mythology and experience or oncreative breakthroughs and divineillumination.The data and tools currently exists todramatically improve a company’s marketingprograms for new and established productsand services.All that is required is the will to use themDr. Kevin J. Clancy
  8. 8. Where are the challenges?
  9. 9. Short vs. long term effect and impacton cash-flow in social media marketing
  10. 10. A bit about my own experience (mostlyrelevant to small businesses or not)
  11. 11. Hunter Farmer
  12. 12. Much of the time I spend onsocial media [marketing]activities is relevant; thetrouble is I don’t know which[and why]Michael Leander, 2011
  13. 13. Roy Ruth VS. ROT = Return on Time
  14. 14. More work More details ROT Problem More numbers More people? More money?
  15. 15. What is ROI? A simple example Marketing campaign investment of €100.000 Generates product revenue of €500.000 Cost of goods € 250.000 Cost of sales € 100.000 Gross marging equals: € 150.000 Marketing ROI is 50% (invested € 100K and returned €150K)
  16. 16. The complexity of numbers for ROMI Net Tracking actual Returns & present gross margin Referral value ValueCustomer lifetime Value (Incremental Customer Value)
  17. 17. What is providing the highest ROMI? Don’t believe other people’s surveys. Find studies relevant to your situation, your market, your region
  18. 18. Where should you be?How should you be there?How do you know you are in the right place?How do you prove your business case?How do you justify your investment?How do you improve your results?
  19. 19. Defining owned, paid and earned media
  20. 20. Four approaches – where are you? Basic ROMI Full ROMI • Be realistic in You measure only You measure everything and completely. terms of what you certain parts of the funnel in order to Your organization understands and agrees can track • Work with ROMI Measurement understand the with the choices you response value of make because there’s your activities solid data to support estimated numbers your investments. if you don’t know the exact figures You don’t measure the Calculate ROI on some • Measuring partly is investments. have a performance of any of your investments. In fact, general idea of how your much better than marketing is viewed as a investments perform not meausuring at cost, not an investment at relative to each other, but all. Your company isn’t you can’t pinpoint the all sure what works and what exact return you’re doesn’t, and it’s a struggle generating. to meet goals. (c) Michael Leander Dedication to ROMI
  21. 21. How to identify social mediamarketing goals or KPIs?
  22. 22. In your market, who is buying now ... 3% are buying now 6-7% are open to the idea 30% are not thinking about it 30% don’t think they are interested 30% are sure they are not interested
  23. 23. What is your objective? • ConvenienceCustomer • Allow other customers to service their peers service • Inform/Educate customers • Push promotional messagesCustomerretention • Allow customers to review/endorse • Acquire permissions for dialogue • Inform/educate Customeracquisition • Promote
  24. 24. Simple tracking of results• If you cannot properly track all channels, start with the bottom up approach• Let me show you how – it is simple
  25. 25. Getting started• Start with the end in mind – What is your purpose – what do you want to accomplish• Outline the ideal funnel – Steps in the funnel – OTS = Opportunity to See – Incubation time• Define your mix & assets• Understand what to track and how to track
  26. 26. Create your funnel
  27. 27. Get this slide when you completethe evaluation survey
  28. 28. AID+LIRAAttention > Interest > Desire + Like – Interaction – Recommendation - Action
  29. 29. Putting a value to your goals• The value of a like/fan/member?• The value of a share/recommendation• The value of an email permission• The value of a lead requesting certain information• The value of a customer
  30. 30. Examples from my businesses• We only measure these things and put a monetary value on each – A permission to email: € 5 – A concrete sales lead: € 200 – A firm order: € 700• But we track our progress by measuring – Fans/likes/members – Website traffic & conversions – Recommendations and endorsements (NEW)
  31. 31. Simple tracking – B2B example• Track where leads come from• Add opportunities when they arise allows to track total revenue by source of lead
  32. 32. www.socialmention.comListen and alerts- Setup alerts for your brandnames / company name etc- Take notice of your sentiment- Interact with ”talkers”- Beware of what people seewhen using services such associal mention
  33. 33. Dashboard keeps you up to date
  34. 34. http://swixhq.com/
  35. 35. Is this relevant to your marketing ROI? http://www.klout.com
  36. 36. • Campaigns• Attach content to campaign• Measure effect of campaign• Measure effect of content
  37. 37. THE STREAM MIX
  38. 38. MEASURING 27 18 22 21 0 29 39 41 14 34
  39. 39. Live example of tracking results and reacting
  40. 40. 51
  41. 41. The measuring e-cosystem User Post Campaigns Contents ReportsManagement Management Management Management•Multi-User •Multi-channel •Goal Setting •Multi- •Landing Pages•Multi- Org •Scheduling •Web Analytics dimensional •Media Library•Role Based •Automation •Strategic • Date-Time •Polls------------------- •Customizable •A/B Testing Range • Branded URL•Asset •Workflow •RSS Feed and •Export to CSV • WhiteLabel•Followers Media • Downloads Comprehensive Analytics API’s User Interface Applications Business Mobile Apps Coupons
  42. 42. 5 people to get free 1 telephoneconsulting about your social mediaROI – value of € 350send me an email tomln@fokusintegrated.com
  43. 43. Learn more about this topicMichael Leander is an internationalmarketing speaker. He has spoken in 35+countries and at countless webinars..Find him herehttp://www.twitter.com/michaelleanderSpeaking: http://www.michaelleander.meConsulting: http://www.michaelleander.comEmail: leander@michaelleander.com

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