Social media ROI

  • 1,010 views
Uploaded on

How to understand the return on your investment in social media.

How to understand the return on your investment in social media.

More in: Business
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
No Downloads

Views

Total Views
1,010
On Slideshare
0
From Embeds
0
Number of Embeds
2

Actions

Shares
Downloads
43
Comments
0
Likes
2

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide
  • .
  • .

Transcript

  • 1. Social Media ROI Sherrilynne Starkie, MCIPR, ABCS 12 March 2010
  • 2. Agenda Feedback on feedback Understanding metrics Tools of the trade Connecting the dots Calculating ROI
  • 3. Pounds & Pennies
  • 4. No premature evaluation
  • 5. What accountants measure Number of transactions Number of customers Number of new customers Revenue Profit
  • 6. What media & marketers measure Website visitors Leads & enquiries Retweets Clicks, hits, referrals Facebook fans Blog comments Social mentions/links Satisfaction indicators
  • 7. Find connections Linking social media to hard goals
  • 8. SM Metrics Tools (free or cheap) Google Analytics Social Mention Addictomatic TwitterSearch Backbyte Facebook analytics Trackur PostRank
  • 9. SM Metrics Tools (paid for) Vocus Radian6 ScoutLabs Cymphony Lots more
  • 10. Evaluate your cost Social media myths It's free! It's easy! Anyone can do it!
  • 11. Resources = Costs
    • People
      • Dep't staff, Outside specialists, customer services, sales, PR/advertising
    • Time
      • Day job?
    • Technology
      • Software, hardware, access, bandwidth, training
  • 12. What media & marketers measure Website visitors Leads & enquiries Retweets Clicks, hits, referrals Facebook fans Blog comments Social mentions/links Satisfaction indicators
  • 13. Making a connection
    • Establish baseline metrics
      • Monthly sales (three month history)
      • Monthly profits
      • Footfall, transactions, other metrics
    • Ongoing measurement
      • Before SM campaign/ after campaign
  • 14. Making a connection
    • Create activity timelines
      • Diarise what happened when
      • Who did what
    • Compare timeline against business metrics
      • Activity v Sales
      • Activity v Transactions
      • Activity v Footfall,
      • etc.
  • 15. Making a connection
    • Create SM metric timelines
      • Facebook Fan/ Twitter follower acquisition
      • Twitter buzz
      • Website visitors
      • Mentions, trackbacks, bookmarks etc
    • Compare timeline against business metrics
      • Follower acquistion v Sales
      • Retweets v Transactions
      • Website visitors v Footfall
  • 16. Making a connection
    • Look for patterns
      • Sales up or down
      • More visitors to the museum
      • More new business start ups
      • Votes in favour
    • Then look at how each pattern is touched by SM
      • Analytics
      • Surveys & Questionnaires
      • Other insight
  • 17. ROI
    • Look at current revenues
    • Subtract baseline
    • The result = change
    • Subtract your SM costs from 'change'
    • The result = net benefit
    • Divide 'net benefit' by SM costs = ROI
  • 18. Questions?