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Socmeroi 090303100052-phpapp01
 

 

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    Socmeroi 090303100052-phpapp01 Socmeroi 090303100052-phpapp01 Presentation Transcript

    • Social Media ROI Measuring the Unmeasurable? with Yongfook of ~ a digital business incubator, based in Tokyo
    • “Social media is like teen sex” Avinash Kaushik - Analytics Evangelist, Google
    • “Social media is like teen sex. Everyone wants to do it. Nobody knows how. When it’s finally done there is surprise it’s not better.” Avinash Kaushik - Analytics Evangelist, Google
    • What “investment”?
    • What “investment”?
    • Is social media an extension of business ethics? Should there even be a “return”?
    • There seem to be a lot of qualitative benefits... •Loyalty •Trust •Passion •Interaction • Brand Awareness
    • ...but you’ll probably be told that stuff is hard to measure lol
    • Fragmentation doesn’t make it much easier
    • It IS easy to measure, just not with conventional success metrics... ...because it affects more of your organisation’s attributes than just boosting sales
    • Know which needles* you want to move and how to keep track.
    • Know which needles* you want to move and how to keep track. *be strict and choose metrics that actually translate into a business context for your organisation.
    • Ignore meaningless metrics like “number of followers”. A successful campaign is about more than just getting attention.
    • Define your success metric Number of people who filled in the “get more info” form Number of new customers / sales Reduction in support costs Number of minutes a day we are nice to customers Number of people who used a specific coupon that is associated with this campaign Number of influential people who tweet something about us Number of influential blogs that linked to us Number of features suggested by users that we actually implement Increase in Pagerank Number of repeating, unique visitors Number of people in a specific location / demographic who follow us on twitter Number of new things we discovered about customers that we never knew before
    • Define your success metric Number of people who filled in the “get more info” form Number of new customers / sales Reduction in support costs Number of minutes a day we are nice to customers Number of people who used a specific coupon that is associated with this campaign Your marketing team / social media consultant Number of influential people who tweet something about us can help you define these. Number of influential blogs that linked to us Number of features suggested by users that we actually implement Increase in Pagerank Number of repeating, unique visitors Number of people in a specific location / demographic who follow us on twitter Number of new things we discovered about customers that we never knew before
    • • Define relevant success metrics that translate into a business context. • Quantitative - sales (obviously), new leads, new qualified subscribers • Qualitative - satisfaction, loyalty, authority, interaction, feedback • For qualitative goals, use simple rules as metrics. • Set campaign goals based on these metrics. Your return is successfully meeting or exceeding these goals. • Implement campaign, review metrics and goals. Filter out channels and strategies that don’t get good returns. Repeat.
    • Measuring Qualitative Returns
    • A simple campaign to build Loyalty & Trust Be nice to customers who mention your company / product name on Twitter. Success Metrics Goal - Amount of positive comments sent to customers per week within a given time ceiling N amount of positive conversations about your company or product per week - Amount of conversations that started from the comment. Measuring Qualitative Returns As implemented by...
    • A campaign to increase Satisfaction Engage with customers / prospects using social media and ask what they would like from you. Success Metrics - Amount of good suggestions that your company hadn’t thought of. - Amount of the above that your company actually implements. Measuring Qualitative Returns Goal N amount of suggestions collected per month and N amount that you actually implement. As implemented by...
    • A campaign to increase Authority Start a blog on a topic that relates to your company and that you an expert on. Focus on writing authoritative content first, promoting your company second. Success Metrics - Amount of influential blogs linking to you. Goal N Pagerank by a certain date. - Pagerank relative to that of competitors. Nth position in Pagerank relative to competitors by a certain date. - Amount of organic traffic per month. N% of organic traffic per month. - Amount of traffic that converts to sales. $N per month attributable to referrals from blog. Measuring Qualitative Returns As implemented by...
    • Measuring Quantitative Returns
    • A campaign to increase Offline Sales Implement a promotion on a social media platform. Give participants a printable campaign voucher so you can track where offline sales originated. Success Metrics Goal - monthly sales $N monthly sales - monthly store traffic N% increase in store traffic over the pre-promotion period. Measuring Quantitative Returns As implemented by...
    • A campaign to increase Online Sales Use Twitter to inform prospects about special promotions, capitalising on Twitter’s real-time nature for exclusive, limited-customer / limited-period offers. Success Metrics - monthly sales attributable directly to Twitter - new customers attributable directly to Twitter - monthly revenue generated from customers originally from Twitter (i.e. did the customer go back later of their own accord and buy more) Measuring Quantitative Returns Goal $N monthly sales $N monthly sales directly attributable to Twitter As implemented by...
    • Remember that driving targeted traffic from social media sources is only half the challenge if you’re trying to sell something. Flawlessly-executed social media campaign Is a door to... Your website
    • Learn about: A/B and Multivariate Testing Designing to sell Get into the habit of: Testing, testing, testing Hire a: Copywriter Web designer who likes selling Person who can manage all of the above
    • Dave McClure has a good presentation online about metrics and measurement: http://www.slideshare.net/Startonomics/startup-metrics-for-pirates-presentation AARRR (this makes sense if you watch his presentation)
    • You can also ask me about this or any of the other stuff I’ve talked about. Happy to chat. View / Download this presentation: http://www.slideshare.net/yongfook
    • CEO of http://www.yongfook.com Digital Business Incubation http://www.egg-co.com http://www.opensourcefood.com http://www.sweetcron.com http://www.rippl3.com Coming soon - an easy-to-use tool related to the stuff I talked about today... http://www.rippl3.com
    • Thank You! If you need to get in touch, for the rest of my trip I can be found sitting in front of a bowl of this: