Reporting ROI to the C-Suite


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Reporting ROI to the C-Suite

  1. 1. Reporting ROI to the C-Suite Nichole Kelly President SME Digital
  2. 2. Agenda • Why is Measurement So Hard? • What Managers Want / What Executives Want • How to Translate Social Media To Executives • Understanding Social Media Goals • What You Need in Your Toolkit • Equalizing the Data • Analyzing / Presenting the Data • Case Study
  3. 3. Nichole Kelly • President, SME Digital • Author, How to Measure Social Media: A Step-by-Step Guide to Developing and Assessing Social Media ROI About Me
  4. 4. Today You Will Learn • Show your CEO and CMO that you understand what really matters in business and where social media fits • Connect social media impact to core business objectives like sales volume, revenue and costs • Get the right framework in place to get bottom line metrics • Understand whether or not your social media publishing process is preventing accurate measurement results • Get the ammo you need jump start your career by learning how to translate social media into their language
  5. 5. Poll # 1 • Polls are 120 characters or less. Answers are less than 30 characters. • Can you measure revenue generated from social media? – Yes – No – Kind of
  6. 6. Why is Measurement So Hard? • Social Media Measurement Tools • Social Media Monitoring Tools • Web Analytics • CRM Everyone claims to measure “ROI”. You can’t measure social media ROI without a connection to CRM. There is a lot of confusion
  7. 7. Why is Measurement So Hard? • Trying to redefine ROI • Creating new metrics based on social media language • Expecting executives to “get” social • Lack of understanding for how new social metrics relate to core business objectives WE are Making Measurement Hard
  8. 8. Why is Measurement So Hard? • Social channel • Website • CRM It’s time to connect the dots…the right dots
  9. 9. Why is Measurement So Hard? • What is our web analytics package? • What is our CRM package? • Can we pass campaign data into the CRM from the website? • How are we doing that now? • How can we integrate traffic from the social channel into that process? Sounds easy…but it isn’t Ask yourself:
  10. 10. What Managers Want • To understand what is and isn’t working • To show the value in their efforts • To optimize their results
  11. 11. What Executives Want • Sales Volume • Revenue • Cost The Bottom Line
  12. 12. How to Translate Social Media to Executives • Leverage existing metrics with history and benchmarks for acceptable results, stop waiting for new ones • Align social media to core business goals • Understand that social is one channel in the marketing mix • Show social media results in context with other marketing channels The minute an executive asks, “what is Twitter”, you’ve LOST!
  13. 13. How to Translate Social Media to Executives • Executives understand one thing…The Bottom Line • They live, eat, and breathe the sales funnel • Show how social media fits into the sales funnel
  14. 14. How to Translate Social Media to Executives • Social media extends our sales funnel • Social media helps us get to new customers before our competition • Social media helps us foster relationships with existing customers • Social media helps us generate brand awareness What Executives Need to Know
  15. 15. Understanding Social Media Goals
  16. 16. Understanding where Social Fits
  17. 17. Understanding where Social Fits
  18. 18. Understanding where Social Fits
  19. 19. Understanding where Social Fits
  20. 20. What You Need in Your Toolkit • HootSuite, Raven Tools and Argyle Social integrate with Google Analytics • Google Analytics integrates with e-commerce or marketing automation software such as Paradot • E-commerce or marketing automation software integrates with CRM such as Salesforce If you can’t get to CRM today…you can still provide metrics that matter to executives
  21. 21. What You Need in Your Toolkit • Type your status update • Put in your link • Click on the gear to the left of the shrink button • Select Google Analytics under “Add customer URL parameters” HootSuite’s Golden Egg: Add Campaign Tracking to Shortened URLS
  22. 22. What You Need in Your Toolkit Google URL Builder Add Campaign Tracking to Shortened URLS
  23. 23. What You Need in Your Toolkit Create a System for Campaign Parameters • Source = Social Media Channel, i.e. Twitter, Facebook • Medium = Social Media Account (if the client has multiple accounts) or Content Type i.e. status update, photo, video etc. • Campaign = the campaign name You can add numbers in the campaign field so you can track back to an individual tweet
  24. 24. What You Need in Your Toolkit
  25. 25. What You Need in Your Toolkit Google Analytics Social Reporting • Social Media Assists • Conversion by Social Channel • Path to Conversion • Social Plug-in Analytics Requires Code to Be Installed
  26. 26. Equalizing the Data • Online Advertising • Offline Advertising • Public Relations • SEO • Customer Service You can’t measure social media in a silo, but it isn’t about saying other channels are BAD. Compare Social Media Metrics to:
  27. 27. Equalizing the Data • Online Advertising Metrics • Cost per Impression • Cost per Click • Cost per Conversion • Offline Advertising Metrics • Reach – Impressions – Viewers = Cost per Impression • Cost per Conversion Metrics • Reach = Cost per Impression • Mentions = Cost Per Placement • SEO Metrics • Cost Per Inbound Link • Cost Per Site Visit • Customer Service Metrics These can ALL be measured in social too!
  28. 28. Analyzing the Data - Managers Create a dashboard to compare against other channels
  29. 29. Presenting the Data - Executives Create a dashboard to compare against other channels
  30. 30. Case Study Challenge: • Product Trials are Key to Purchase Decisions • 3X Use = 2X More Likely to Buy • Wanted to Drive Product Loyalty by Integrating Social Behaviors
  31. 31. Case Study Solution: • Integrated gaming elements into free trials • Created missions for users to complete to drive training during trials • Users received points, badges and could share experiences on social channels
  32. 32. Case Study Results: • 40% increase in trial usage
  33. 33. Case Study – Level UP Cost per trial user Cost per engagement Cost per community sign up Cost per customer acquired Upgrade rate for users Average revenue per customer Average licenses per customer Suite license conversions Community members generated 24/36 month customer lifetime value
  34. 34. 1) Start talking in executive language 2) Align social metrics with business objectives 3) Stop presenting “social” data, present “business” data 4) Create a reporting framework to increase efficency 5) Use campaign parameters for better reporting 6) Compare across marketing channels Key Takeaways
  35. 35. Thank You How To Measure Social Media The key to building measurable strategies and delivering metrics that matter • Step by step instructions • Hands-on exercises • Worksheets
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