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Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
Social Media and ROI: B2B Roundtable Slides Apr 24 2010
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Social Media and ROI: B2B Roundtable Slides Apr 24 2010

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Slides used to complement Weber Shandwick Minneapolis B2B social media roundtable discussion on the ROI and social media question.

Slides used to complement Weber Shandwick Minneapolis B2B social media roundtable discussion on the ROI and social media question.

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  • Few business units can directly correlate their activities to a sale or cost savings but does that mean they should do social media? I don't buy the definition that it's only a valuable measurement if it can be tied to a dollar figure. So many business use thought leadership as reason alone to participate but where is the $ in that? How is thought leadership measured and how do you know you've made a positive change? Just because you can show a white paper was downloaded 3x more after a given social media campaign, you can not tie that to a sale. I'm still waiting to see this same analysis done on traditional media - yet we don't question its value or require a proof that spending $40K on a banner ad equated to 2x sales increase.
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  • Other:“We haven't implemented social media at our organization yet. ““Equally the following:Lack of budget or staff resourcesNot knowing the best tools, and most affordable, measurement toolsTranslating numbers into concrete return”
  • Transcript

    • 1. 1<br />B2B Social Media Roundtable<br />Social Media and ROI<br />Dare We Talk About It?<br />
    • 2. 2<br />With You Today<br />Aaron Pearson<br />Email:apearson@webershandwick.com<br />Twitter:@apearson<br />Email:andy.keith@webershandwick.com<br />Twitter:@andykeith<br />www.socialstudiesblog.com<br />
    • 3. 3<br />What you told us …<br />2 out of 3 respondents are measuring mar-com ROI<br />
    • 4. 4<br />More than 3 out of 4 are using social media to some extent<br />
    • 5. 5<br />Fewer than half are measuring ROI for social media<br />
    • 6. 6<br />All agree ROI measurement is important to some degree<br />
    • 7. 7<br />Biggest challenge: What to measure? Where to begin?<br />
    • 8. 8<br />Connecting the dots to results<br />“My favorite social media metric<br />has a dollar sign in front of it.”<br />-- Chris Brogan<br />
    • 9. 9<br />What Senior Marketers say vs what they actually measure<br />
    • 10. 10<br />Slide 10 – March 23, 2010 <br />2009/2010 = Transformational time<br />Economy : Cold<br />Measurement : Hot<br />Critical to Measure What You Treasure<br />
    • 11. 11<br />Putting the data into context:An integrated measurement model<br />activities<br />reach<br />relevance<br />outcomes<br />worth<br />What activitieswere performedto achieveresults?<br />Did you reachyour audience?How manyimpressions,web visits,reports,attendees, etc. weregenerated?<br />Were yourelevant to youraudience? Were you credible? Did your ideas and messages resonate? Did you drive conversation?<br />What business results did you achieve? Awareness? Engagement?<br />Reputation? Leads? Sales? Loyalty?<br />Advocacy?<br />What is the estimated dollar value of your communication efforts? What was the ROI?<br />Quantity/Output  Quality/Outtakes  Business Impact  Value/Efficiency<br />Communications Team  Marketing Team  Executive Team<br />Source: Weber Shandwick Measurement & Strategy practice, “ARROW” measurement model<br />
    • 12. 12<br />What can we measure? What is most important?<br />Cost per customer interaction (e.g. call center vs Twitter or other online channel)<br />Leads generated<br />Increase in followers, fans or “Likes” for my Facebook page or Twitter profile<br />Qualified job candidates<br />Increase in site traffic<br />Revenue generated<br />Views of a specific landing page, blog post or message<br />Increase in time spent on site<br />Customer retention rate / cost<br />Click-throughs on a specific link<br />Customer acquisition rate /cost<br />Increase in positive sentiment<br />Increase in Share of Voice<br />
    • 13. 13<br />What can we measure? What is most important?<br />ROI<br />Precursors to ROI<br />Revenue generated<br />Leads generated<br />Customer acquisition rate /cost<br />Customer retention rate / cost<br />Cost per customer interaction (e.g. call center vs Twitter or other online channel)<br />Increase in site traffic<br />Increase in time spent on site<br />Qualified job candidates<br />Views of a specific landing page, blog post or message<br />Click-throughs on a specific link<br />Increase in followers, fans or “Likes” for my Facebook page or Twitter profile<br />Increase in positive sentiment<br />Increase in Share of Voice<br />
    • 14. 14<br />How can we measure it?<br />Google Alerts<br />Blog searches (Google, Technorati, BlogPulse, IceRocket)<br />Track mentions in specific blogs via RSS feeds<br />TweetDeck, HootSuite, Seesmic or other tracking dashboard<br />Paid tools (Radian6, Nielsen BuzzMetrics, Sysomos)<br />
    • 15. 15<br />How to choose?<br />Know your target audience decision-making process flow<br />
    • 16. Proving communications value:Focus on outcomes<br />Start by defining clear, precise, measurable goals<br />Even if you don’t think you can measure PR’s impact on the outcome, start with the assumption that you can – and then work backwards to figure out how to measure it<br />Anecdotal evidence<br />Data-based evidence<br />Correlation<br />Contribution<br />Causation<br />Read and internalizeoutcomes definitionsfrom PRSA and IPR’sMeasurementCommission<br />Slide 16 -- March 23, 2010 <br />http://comprehension.prsa.org/?p=628<br />
    • 17. 17<br />Two ways to look at ROI<br />Direct<br />Inferential<br />Online conversion, e.g. e-commerce sale, lead form, download of white paper<br />Identifiable campaign or source tags used consistently in all links<br />Tracking known customers and leads via Social CRM to determine if their activity is resulting in referrals, leads or sales<br />Social media related questions in customer surveys<br />Identify one or more ROI metrics<br />Increased Sales volume<br />Lower customer acquisition cost<br />Shortened sales cycle<br />Reduction on support cost<br />Is there any correlation with increased social media activity?<br />Increase in fans/followers<br />Increase in volume of interactions or level of engagement<br />Increase in Share of Conversation<br />Are there any other corollaries?<br />
    • 18. 18<br />What leads to “True ROI?”<br />
    • 19. 19<br />Is increase in online activity a precursor to corresponding change in sales volume or other ROI metric?<br />
    • 20. 20<br />Interacting with social brands strongly correlates to positive view<br />http://www.emarketer.com/Article.aspx?R=1007419<br />

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