Social Media Measurement:       From Reach to ROIProving Business Value: Let’s Get Practical                    Nan Dawkin...
A Story:  How a          turned into alesson about the business value     of earned social media
Brand = FUN
A Facebook Natural
A highly engaged community
Not uncommon for posts to be shared     by fans hundreds of times
Then…it all fell apart.No more Facebook page.
To Start Over or Not?    This is a lot of work!
Promising, Yes!A business case? No.
Connecting the data dots:Using archived data stored in Social Snap, we analyzed active   Facebook connections against the ...
….And found the business case                Customers who were connected                to the brand on Facebook spent   ...
Chicken or egg? Who cares!               It costs less to                  up-sell an                   existing          ...
Why    we struggleto show business value
Lack of data is not the problem
Problem #1: Senior Execs Need      Different Metrics             Presentation Title and Event Title   15
Marketers watch the metrics at the        top of the funnel
Senior Execs don’t know what those  metrics mean (and don’t care)
…Last click transactions won’t make the              business case
…Even when social media generates last click  transactions, the numbers are often low        compared to other sourcesSoci...
…Because social shines at     filling up the prospect funnel                          New SalesRepeat Purchases       &   ...
Problem #2: Data lives in silos              Presentation Title and Event Title   21
Different tools generate different kinds of       metrics…ROI does not live in a silo                           Twitter   ...
How to solve  both problems…Start connecting dots.
The connection with biggest impact:Web Analytics and the CRM System               Presentation Title and Event Title   24
Web Analytics + CRM =                Metrics Senior Execs will love• Time to close  – Do social leads/prospects close fast...
Can’t connect all the way to purchase?             Focus on leads and prospects    Example: What is an opt-in email addres...
Which conversions? Begin to craft an understanding of what the path  is, which channels touch the customer where– Where do...
A cheap & easy way to find out where social fits with                 other channels:           Use UTM Parameters in link...
…But sloppy use of source/medium/campaign     parameters leads to confusing data
Give Senior Execs the Big Picture• Keep it short and simple: Boil it down!• Put it in context• Don’t show conversion value...
Don’t forget…There won’t be any business value if you stop paying    attention to metrics at the top of the funnel– There ...
Free Resources• Social Snap URL Management Tool  – http://www.socialsnap.com/url-tracker/• White Paper: Meaningful Social ...
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SMX 2012 Presentation: Reach to ROI

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Presentation by Social Snap CEO Nan Dawkins at SMX-2012 in Las Vegas, NV, showing ways that advanced analytic tools such as Social Snap can build a strong quantitative case for proving ROI from your social media campaigns.

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SMX 2012 Presentation: Reach to ROI

  1. 1. Social Media Measurement: From Reach to ROIProving Business Value: Let’s Get Practical Nan Dawkins SMX Social Media Marketing 2012
  2. 2. A Story: How a turned into alesson about the business value of earned social media
  3. 3. Brand = FUN
  4. 4. A Facebook Natural
  5. 5. A highly engaged community
  6. 6. Not uncommon for posts to be shared by fans hundreds of times
  7. 7. Then…it all fell apart.No more Facebook page.
  8. 8. To Start Over or Not? This is a lot of work!
  9. 9. Promising, Yes!A business case? No.
  10. 10. Connecting the data dots:Using archived data stored in Social Snap, we analyzed active Facebook connections against the customer database
  11. 11. ….And found the business case Customers who were connected to the brand on Facebook spent significantly more overall and on average, and purchased more frequently.
  12. 12. Chicken or egg? Who cares! It costs less to up-sell an existing customer than to acquire a 80% of These new one revenuepeople buy… comes from repeatedly! 20% of customers!
  13. 13. Why we struggleto show business value
  14. 14. Lack of data is not the problem
  15. 15. Problem #1: Senior Execs Need Different Metrics Presentation Title and Event Title 15
  16. 16. Marketers watch the metrics at the top of the funnel
  17. 17. Senior Execs don’t know what those metrics mean (and don’t care)
  18. 18. …Last click transactions won’t make the business case
  19. 19. …Even when social media generates last click transactions, the numbers are often low compared to other sourcesSocial Snap report showing traffic and revenues generatedby a social media campaign over a 6 month period
  20. 20. …Because social shines at filling up the prospect funnel New SalesRepeat Purchases & New Sales
  21. 21. Problem #2: Data lives in silos Presentation Title and Event Title 21
  22. 22. Different tools generate different kinds of metrics…ROI does not live in a silo Twitter Tools FB Insights SMMS Tools Buzz Monitoring Tools Campaign AppsShiny GAnew tool Shiny new tool CRM Buzz Monitoring Tools
  23. 23. How to solve both problems…Start connecting dots.
  24. 24. The connection with biggest impact:Web Analytics and the CRM System Presentation Title and Event Title 24
  25. 25. Web Analytics + CRM = Metrics Senior Execs will love• Time to close – Do social leads/prospects close faster than average?• Average close rate – Do social leads/prospects close at a higher rate than average?• Average sale and/or LTV – Do social leads /prospects spend more than average?
  26. 26. Can’t connect all the way to purchase? Focus on leads and prospects Example: What is an opt-in email address worth? 26
  27. 27. Which conversions? Begin to craft an understanding of what the path is, which channels touch the customer where– Where does social shine?– Which types of conversions does it drive?– What kinds of conversions are other channels driving?
  28. 28. A cheap & easy way to find out where social fits with other channels: Use UTM Parameters in links We use links in email. We use links in PPC. We use links in social media.
  29. 29. …But sloppy use of source/medium/campaign parameters leads to confusing data
  30. 30. Give Senior Execs the Big Picture• Keep it short and simple: Boil it down!• Put it in context• Don’t show conversion values or attribution data that can’t be validated and defended (they will ask) For more on this; get Nichole Kelly’s excellent new book!
  31. 31. Don’t forget…There won’t be any business value if you stop paying attention to metrics at the top of the funnel– There won’t be any business value to report if you stop paying attention to the metrics that tell you how the community is growing, how engaged it is, what content resonates, etc.– Senior Execs need DIFFERENT metrics, but business value metrics aren’t the only metrics that are important
  32. 32. Free Resources• Social Snap URL Management Tool – http://www.socialsnap.com/url-tracker/• White Paper: Meaningful Social Media Measurement – http://www.socialsnap.com/wp-request.php?wpid=wp1• Facebook Metrics Cheat Sheet – http://www.socialsnap.com/wp-request.php?wpid=wp2 32

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