Social Media ROI Measurement Workshop University Central Florida

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Social media roi measurement requires alignment to business goals. Select business goals and objectives where social can have the greatest impact. Know what transformations you want to make by …

Social media roi measurement requires alignment to business goals. Select business goals and objectives where social can have the greatest impact. Know what transformations you want to make by leveraging and integrating social media into the DNA of your business. Know the difference between social business and social media.

This presentation was delivered as part of a workshop for the University of Central Florida Nicholson School of Communication.

Feel free to leverage content with full attribution to source with link to http://www.themarketingnutz.com and http://www.pammarketingnut.com. No copy/paste or duplication of content is permitted. Protected by Copyright 2014.

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  • Lots of great information about social media but nothing about ROI.
    E.g. Slide 21: Benefits are not a substitute for Revenue, and Costs are not equivalent to Investment. No C-Suite level exec will accept this formula.
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  • Pam - As always I appreciate your insightful and light-hearted approach. Thanks so much for sharing
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  • 1. Social Media Measurement Pam Moore CEO / Founder Marketing Nutz @PamMktgNut
  • 2. Pam Moore CEO /Founder http://www.pamslinkedin.com @PamMktgNut Marke&ng  Nutz  Founders   Josh Moore CCO /Founder http://linkedin.com/in/joshroinut @JoshROINut
  • 3. “Experience helping brands of all size bridge complex gap to social success.” why  Marke&ng  Nutz?   Founders have 30+ years combined experience in digital marketing, corporate brand, startups & platforms. “PHD in acronyms not required. We help you fit social business in a nut shell so you can focus on what you do best, your business!” “CEO, best selling author recognized by Forbes as Top 10 Social Media Power Influencer + Top 10 Social Media Women Influencers!
  • 4. Embrace     the   JOURNEY!  
  • 5. Social Business Success
  • 6. social business “Becoming a social business transforms the organization from the inside out, connecting the internal with the external in a way that enhances relationships and creates shared value for the people, the business and ecosystem as a whole.”
  • 7. social media “Refers to the means of interactions among people in which they create, share, and exchange information and ideas in virtual communities and networks.”
  • 8. Brand “A brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another. If the consumer (whether it’s a business, a buyer, a voter or a donor) doesn’t pay a premium, make a selection or spread the word, then no brand value exists for that consumer.” ~Seth Godin
  • 9. Why  should  we  do  social?  
  • 10. Measuring  &  worrying   about  the  wrong  things   Source: Creative Commons
  • 11. Quit selling your CEO Twitter! 11
  • 12. 1.3B  mobile  workers  by  2015   Source: IDC
  • 13. 90%  mobile  users  have  device   within  arms  reach  100%  of  &me    
  • 14. Houston  we  have  a   failure  to   communicate  
  • 15. start  from  inside  out  
  • 16. •  Strengths  and  weaknesses?     •  Demonstrate  impact  of  strategic  work   •  What  training  is  required?     •  Change  management  needs?     •  Categories  for  readiness  assessment   •  Mindset   •  Stakeholder  buy-­‐in   •  Realis&c  expecta&ons   •  Roles     •  Customer  profile   •  Market  analysis   •  Compe&&ve  analysis   •  Brand  Readiness   •  Processes   •  Organiza&onal   model   •  Communica&on   •  Educa&on   •  Monitoring   •  Repor&ng   •  Budget   Assess  readiness  to  be  social  
  • 17. Source: Altimeter Group Language matters LOB/Geo Stakeholders Social Strategist/ Community Manager •  Business metrics: revenue, CSAT, reputation. •  Social media analytics: Insights, share of voice, resonance, WOM. •  Engagement metrics: fans, followers, clicks. Corporate
  • 18. communities create markets Opportunity Harvest Free     member   Paid     member   Loyal     evangelist   Community Zone Customer Zone $$
  • 19. Stop  dancing   around  &   start  dancing   with  ROI!    
  • 20. benefits – costs costs= x100
  • 21. Without  STRATEGY  there  is   no  ROI    
  • 22. Stop the Random Acts of Marketing (RAMs) =
  • 23. Your Mission Understand where your audience is hanging out online & learn how to have a relevant conversation with them that helps meet business goals.
  • 24. •  WHO are you talking to? •  WHAT do they need? •  WHEN will they engage with you? •  HOW can you help? •  WHERE do they want to talk? •  WHY should they care? Why should you invest?
  • 25. People don’t buy things, they join things NOT about CONTROL
  • 26. think  DNA,  not  tools    
  • 27. relevance    
  • 28. Maslow’s  hierarchy  of  needs   Morality, creativity, spontaneity, problem solving, lack of prejudice, acceptance of facts Self-esteem, confidence, achievement, respect of others, respect by others Friendship, family, sexual intimacy Security of body, employment, resources, morality, family, health, property Breathing, food, water, sleep, homostasis, excretion physiological safety belonging esteem self-actualization
  • 29. hierarchy  of  social  community   inspira&on   self- actualization esteem belonging safety physiological achieve connect inspire
  • 30. humanize  it  
  • 31. human  brands…     •  Think like humans •  Care about humans •  Value relationships •  Listen to other humans •  Talk like humans •  Have a personality •  Show their “human” •  Make & own their mistakes •  Are available •  Know themselves •  Know their audience •  Invest in people •  Take risk
  • 32. My  Brand  is…   •  What I say •  What I do •  What I think •  What I tweet •  What I post on Facebook •  What I Instagram •  What I write in email •  What I share •  How I respond •  How I interact on & offline! •  How I drive! • ME!
  • 33. Tech Enthusiasts Visionaries Pragmatists Conservatives Skeptics Technology  Adop&on   Geoffrey Moore Technology Adoption Lifecycle
  • 34. Social media plugs into your Business Business
  • 35. Pick Goals where social can have an impact Align Social with top Business Goals
  • 36. We use POST strategy to frame the Social Media Strategy
  • 37. POST+GM P   O   S   T   People Identify WHO & assess their social activities What do you want to accomplish? WHY? Plan for how relationships with the “people” will change Decide which social technologies to use G Goals What metrics will be used to measure success Objectives Strategy Technology MetricsM Set goals for achievement, qualitative & quantitative Based Upon POST Methodology Source: Forrester Research
  • 38. Select  tools  AFTER  you   know  WHAT  you  want  to   measure  and  WHY!     sales thought leadership customer satisfaction employee empowerment leads brand
  • 39. Where  are  you  going?   •  Key Performance Indicators help measure transformation •  Business goals / objectives define where you are going and why
  • 40. Know  desired  shibs  (changes)     •  Brand awareness new markets •  Sentiment shifts •  Thought leadership •  Decrease sales cycle •  Increased customer satisfaction •  Community growth •  Influencer / advocate tribes •  Sales
  • 41. It’s not what the technology can do for you but what you can do with the technology! outcomes  
  • 42. 1.  Brand  awareness   2.  Brand  loyalty   3.  Customer  sa&sfac&on   4.  Market  Research   5.  Compe&&ve  Intelligence   6.  Shorten  sales  cycle   7.  Decrease  service  costs   8.  Lead  Genera&on   9.  Revenue   common business goals
  • 43. 1.  Social  listening       2.  Thought  leadership   3.  Nurture  rela&onships   4.  Build  community     5.  Earn  loyal  brand  advocates   6.  Maximize  reach  in  exis&ng  &   new  markets   7.  Support  sales  /  marke&ng   campaigns   8.  Talent  recrui&ng  &  reten&on   common social media business goals
  • 44. Popular  Social  Media  Tools     Social Media Management •  Hootsuite •  Sprout Social •  Buffer (schedule posts) Social Monitoring •  Sysmos •  Radian 6 •  Trackur •  Social Mention •  Brandwatch Build Twitter Following •  Twellow •  Social Bro •  Manage Flitter •  Triberr (+blog traffic, community) Social Measurement •  Social Bakers •  Sprout Social •  Tweetreach (Twitter) •  Twitonomy •  Pinalytics (Pinterest) •  Likalyzer (Facebook) •  BlitzMetrics (Facebook) •  Sumall •  Argyle Blog / Website •  Google Analytics •  Alexa •  Kissmetrics •  Webtrends •  IBM CoreMetrics
  • 45. evaluate  each  ini&a&ve   Impact How does it support an objective? What metrics matter? Readiness Do we have people who can do this? Is there budget? Risks What are the risks if we do this? What if we don’t? Priority Does this initiative enable other work?
  • 46. Embrace  OPCs  
  • 47. Empower  internal  brand  evangelists  
  • 48. ac&vate   influencers  
  • 49. Questions? Pam Moore CEO / Founder Marketing Nutz @pammktgnut www.pammarketingnut.com www.themarketingnutz.com