Social Media Planning & Measurement: Proving (or not) the Value of Social Media

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    Social Media Planning & Measurement: Proving (or not) the Value of Social Media - Presentation Transcript

    1. Social Media Planning & Measurement: Proving (or not) the Value of Social Media Beth Harte Community Manager, MarketingProfs @bethharte
    2. Why Measurement is Important
    3. The silver bullet myth Image source: realestatedementia.com/
    4. Are you ready for hard work? Image source: http://imagecache2.allposters.com/images/JAG/03-PS35-6.jpg
    5. Politics will always exist Image source: http://www.cartoonstock.com/newscartoons/cartoonists/tcr/lowres/tcrn92l.jpg
    6. Image source: clarinet-now.com Tactics without a plan...
    7. Don’t think you need a plan? Image Source: www.bulldogblog.net/articles/wp-content/uploads/2009/02/money.jpg
    8. With a plan... Image source: clarinet-now.com
    9. How to write a measurable plan
    10. The Plan:
      • Goal
      • Measurable Objectives
      • Strategy
      • Tactics
    11. What is a goal?
      • What do you hope to gain by engaging in social media?
      • Does your goal fit into the overall corporate goal?
      • How to write a goal:
      • To increase sales
      • To decrease customer service expenditures
      • How not to write a goal:
      • To increase sales AND to increase customer engagement
      Image source: getentrepreneurial.com
    12. Types of objectives
      • Output: Physical products
        • Blog post, news release, e-mail, etc.
      • Outtake: What a target audience takes away
        • Messages, perceptions, understandings
      • Outcome: Quantifiable changes in attitudes, behaviors, or opinions
        • Sales, change in the number of downloads, requests, responses
    13. Writing measurable objectives
      • To be measurable, objectives MUST include:
      • A specific desire, communication or behavioral effect;
      • A designated target audience among whom the effect is to be achieved;
      • The expected level of attainment; and
      • The timeframe in which those attainments are to occur.
    14. Measurable objectives
      • Output: To create a Facebook fan page and have 15% of online public #2 join within 6 months .
      • Outtake: To increase positive mentions that include key message in key industry blogs by 15% within six months .
      • Outcome: To increase sales of Product X by 20% within 3 months .
      • To increase sales
      • To decrease customer service expenditures
      • To increase sales and to increase customer engagement
      • To decrease customer service expenditures and to increase customer satisfaction
      How not to write an objective
    15. Strategy
      • What is the approach to achieving objectives and reaching the goal?
      • Example: Establish a Facebook Fan Page to keep target audiences connected.
      • Set up a Ning community to support customers of Product X.
      Image source: getentrepreneurial.com
    16. Tactics
      • What activities will be conducted to carryout specific objectives?
      • What tools will be used?
      • Example:
        • Set up the Facebook account
        • Invite target audience via an e-mail
      Image source: http://francisanderson.files.wordpress.com
    17. A Sample Plan Outline
      • Goal
      • Objective 1 (Outcome objective)
        • Strategy 1
          • Tactic 1
          • Tactic 2
      • Objective 2 (Output objective)
        • Strategy 1
          • Tactic 1
        • Strategy 2
          • Tactic 1
          • Tactic 2
    18. Sample Measurable Plan
      • Goal: To lose weight
      • Outcome Objective: I want to lose 10 pounds by September 15th
      • Strategy 1: I will go to the gym 5 times a week
        • Tactic 1: Elliptical machine
        • Tactic 2: Weight training
      • Strategy 2: I will watch what I eat
        • Tactic 1: Weight Watchers
        • Tactic 2: Journal
      • Measurement: I lost 8 pounds by September 15th (Objective not met)
      Image source: http://reviewsofdietprograms.com/photos/scale.jpg
    19. Sample Measurable Plan
      • Goal: To increase sales
      • Outcome Objective: To increase sales of Product X by 20% within 3 months
      • Strategy 1: To use Facebook to engage customers of product X
        • Tactic 1: Create a Facebook Fan Page
        • Tactic 2: Create Facebook Ads
      • Strategy 2: To use Twitter to engage customers of product X
        • Tactic 1: Conversational Tweets
        • Tactic 2: Tweets with discount codes
      • Measurement: An increase of sales in Product X of 25% within 6 months (Objective not met)
      Image source: http://www.salesmotivation.net/img/salesrun.jpg
    20. Plans need to be flexible Image Source: Flickr, ralphventon
    21. What to measure when it comes to social media
    22. Typical Measurement & Value Image sources: harperstudio.typepad.com, tiphut.wordpress.com , bp.blogspot.com, publichealth.columbus.gov, bmwblog.com, conversationmarketing.com
    23. Measurement Today
    24. Traditional Marketing Funnel
    25. Social Network Interference
    26. New Marketing Funnel
    27. SM Measurement of Engagement Image sources: digitalstrategy.govt.nz, orionwell.files.wordpress.com, itqb.unl.pt, iStock, gognis.net
    28. What to measure...
      • Friends, Followers, Fans
      • Comments/Subscribers
      • Tweets/Retweets
      • URL shortener stats
      • Increased web traffic
      • Click-thrus
      • Net Promoter Score
      • Influence
      • Sentiment
      • Brand mentions
      • Share of conversation
      Image source: www.flickr.com/photos/joshrussell/580372830
      • B enchmarking
      • O bjectives
      • R eturn on Expenditures
      • R eturn on Investment
      Measurement Best Practices BORR-ing...but necessary! Image source: www.usm.edu/pr/releases/2006/may/cook.htm
    29. Benchmarking Image Sources: http://www.defenselink.mil/ & http://www.sweatyguineapig.com Where did we start? Plan #1: 15 lbs. overweight Plan #2: $50,000 in sales Where did we end? Plan #1: 7 lbs. overweight (lost 8 lbs) Plan #2: $62,500 in sales (25% increase)
    30. Objectives
      • Plan #1: I want to lose 10 pounds by September 15 th
        • Results: 8 pounds lost by September 15 th
        • Objective not met by 7 pounds
      • Plan #2: To increase sales of Product X by 20% within 3 months
        • Results: Sales of Product X increased by 25% in six months
        • Objective not met by 3 months
      • Measuring Tactical Expenditures:
        • Gym cost
          • $50/month (1 month)
        • Weight Watchers cost
          • $400/month (1 month)
        • Journal cost
          • $5.00
        • New sneakers cost
          • $80.00
        • New gym clothes cost
          • $100.00
      • TOTAL: $635.00/8 lbs = $79.38 per pound
      ROE – Plan #1
    31. ROE – Plan #2
      • Measuring Tactical Expenditures :
        • Facebook
          • Free
        • Facebook Ads
          • $500/month (3 months = $1,500)
        • Employee’s Facebook Time
          • $40/hour ($40/hr * 10 hrs/wk * 12 weeks = $4,800 )
        • Twitter
          • Free
        • Employee’s Twitter Time
          • $40/hour ($40/hr * 10 hrs/wk * 12 weeks = $4,800 )
      • TOTAL: $11,100/5 sales = $2,220 per sale
    32. ROI – What’s the R? Image sources: http://www.mywasher.net & http://mymoneymakingexperiment.commoney-blogging.gif
    33. ROI – What’s the I? Image sources: blogs.discovermagazine.com, www.ecu.edu, www.clydepumps.com/overview-2
    34. ROI – Plan #2 Gain from Investment – Cost of Investment Cost of Investment And is always expressed in a percentage! $12,500 - $11,100 $11,100 ROI = 13% Sales Expenditures
    35. Measurement is a puzzle Image source: www.askmario.com/backtalk/backtalk_puzzle.php
    36. Where tools can help and where they can’t
    37. Tools to help measure
    38. Tools to help measure Image Sources: mentalfloss.cachefly.net, www.orthonurse.org, i.ehow.com/images, www.smbmarketingguide.com/
    39. Who needs to be involved & what management expects
    40. Who needs to be involved
      • C-Suite (CMO)
      • Finance
      • Marketing Management (VP)
      • Marketing Directors/Managers
      • Support Staff
      • Vendors
    41. Speak Management’s Language
      • Metrics that management wants to see:
        • An increase in sales of $12,500 as benchmarked against last quarter
        • Objective was not met by 3 months
        • Each sale was $2,500 at an expense of $2,220
        • Social Media ROI was 13%
    42. Get Management Approval
      • Present your analysis
        • What did you hear? What was the sentiment? What is the competition doing?
      • Share your measurable plan to address findings
      • Provide detailed information
        • Budget
        • Required resources, time, vendors, etc.
      • Demonstrate how you will provide an ROI
    43. Only $49. Free for Premium Members !
    44. Q A &

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