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It’s a new way to interact. It’s cool! My compeKtor has 1M fans. It’s key for the reputaKon. It’s a way to increase revenue. It’s a way to leverage trust. It’s a way to prevent crisis. Everybody does it. My boss urges me to do it. I might be promoted. No need to know.
The « returns » Experience • The new tools/soluKons require a personal experiment InteracKon • Dialog, engagement, inKmacy with the brand ReputaKon • Image, brand aUributes, trust Revenue • Traﬃc, new visitors, prospects, customers,… Control • Ability to locate conversaKons and prevent any major crisis
Based on the investment There are several elements to measure to beUer approach the noKon of ROI on social media
Experience • It’s all about using the tools that the stakeholders are using on their end. Community managers and partners need to be (or become) inﬂuencers themselves. Their inﬂuence level can be a measurable objecKve.
InteracKon • First measure : # of comments / # of posts #comments/#posts Situa0on Less than 1/10 Spectators : nearly no interacKon To 1/1 Friends : community builders, early fans, 2 to 10 Community members More than 10 Fans for life or enemies (upcoming crisis)
InteracKon • Second measure : # of answers / # of comments #answer/#comments Situa0on Less than 1/10 Danger: lack of aUenKon Up to 1/1 Right level of interacKon More than 1 Suspicious interacKon
InteracKon • Third measure : tone % of comments Tone 20% PosiKve 50% Neutral 30% NegaKve
ReputaKon • The three steps for measuring the reputaKon: – Conduct an iniKal survey BEFORE going online, – Monitor the web and tag info, – Create, maintain a glossary of associated terms.
ReputaKon • Create a glossary: one way to measure the aUributes of a reputaKon is to pick up words that are frequently associated to the brand name.
Revenue • Make it easy: Prior to measure revenue, make sure to create a direct link between the social media campaign and the shop, • Trace new customers: make sure you will be able to map the internet users ﬂow, • Value new business
Revenue • Example of a formula: I x C New deal cost = 2 x (NC + 1/3EC) x A • I = Investment • C = Complexity factor (1 to 5) • NC = Number of new customers • EC = Number of exisKng customers • A = Awarness factor (from 1 to 10)
Revenue • Example of a formula: • I = 10.000 US$ • C = 4: users have to follow a long process to register • NC = 55 • EC = 200 • A = 7: the brand is famous 10.000 x 4 New deal cost = = 23,48 US$ 2 x (55 + 1/3(200)) x 7
Control • One way to anKcipate a crisis is to measure the evoluKon of the previous parameters. – Sudden loss of inﬂuence of the community managers, – Growth of the number of comments by post, – Decrease of the number of answers by comments, – The growth of the negaKve tone, – The growth of hosKle tags, – The appearance of new terms in the glossary – The conKnuous growth of the deal costs – All this can announce a crisis period.
To summarize Experience InteracKon ReputaKon Today’s inﬂuence level of #Comments/posts : 4,6 the team: # answers/coms: 0,56 35 Tone : -‐ PosiKve: 12% -‐ Neutral: 57% -‐ NegaKve : 31% Experience Control Last campaign deal cost : 55$