Measuring Social Media ROI - SMX Social Media - December 2011
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Measuring Social Media ROI - SMX Social Media - December 2011

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Sure, social media has had plenty of hype, and everyone is "sure" of its value. But how do you prove that it offers a true return on investment, especially if you’re trying to persuade clients or......

Sure, social media has had plenty of hype, and everyone is "sure" of its value. But how do you prove that it offers a true return on investment, especially if you’re trying to persuade clients or management to invest marketing dollars in Facebook, Twitter and other social media campaigns? This session looks at emerging social media analytics methods, how to measure "conversions" when there may be no tangible transactions, as well as some of the tools available to measure ROI and performance of social media activities.

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  • 1. Scottsdale, Arizona December 2011Measuring Social ROIAdam Ware - @wheresitworkingSwellPath - @swellpath
  • 2. The Basic Approach Understand Business Objectives & Goals Develop Develop KPIs Strategy for Measure & and Key Metrics Data Collection Analyze & Organization Measuring Social ROI | @wheresitworking 1
  • 3. Developing KPIs & Key Metrics• KPIs – reach awareness, sign ups, leads, sales in dollars; things that “move the needle”.• Key metrics – the numbers that funnel into to those KPIs; click-throughs, fans, retweets, visits, etc.• Other metrics – don’t waste much time on these Measuring Social ROI | @wheresitworking 2
  • 4. Data Collection & Organization• Connect dots where you can > Analytics campaign parameters, social tracking (GA) > Integrating Facebook Open Graph data into analytics:http://ipullrank.com/code/keyword-demographics/• Utilize multiple data sources > Site analytics, social APIs, 3rd party tools like Twitalyzer• Data unification > If it’s all in the same place, it’ll be much easier to report and analyze Measuring Social ROI | @wheresitworking 3
  • 5. Unifying Data• Google Docs > http://www.seomoz.org/blog/how-to-track-your-social-media-strategy• More advanced methods > PHP/MySQL - http://emptymind.org/analytics-all-stars-create- custom-dashboards-using-apis/• 3rd Party Solutions > DIY – NextAnalytics (http://excel.nextanalytics.com/), GoodData > Solutions Providers – SwellPath, Webtrends Measuring Social ROI | @wheresitworking 4
  • 6. Attribution• Key to getting a realistic ROI > Don’t use “last one in” credit for KPIs > Use Google Analytics attribution tracking; look at visits with and without historic social touches > How much better do the groups with social touch points convert? > Is the AOV larger? Sales cycle shorter? Loyalty stronger? Measuring Social ROI | @wheresitworking 5
  • 7. Thank You@wheresitworking/@swellpathhttp://www.swellpath.com Measuring Social ROI | @wheresitworking 6