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Tallinn Socialfest 2012 - Petri Mertanen
 

Tallinn Socialfest 2012 - Petri Mertanen

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HOW TO MEASURE THE EFFECT OF SOCIAL MEDIA MARKETING ON YOUR BUSINESS?

HOW TO MEASURE THE EFFECT OF SOCIAL MEDIA MARKETING ON YOUR BUSINESS?

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    Tallinn Socialfest 2012 - Petri Mertanen Tallinn Socialfest 2012 - Petri Mertanen Presentation Transcript

    • How to measure the effect ofSocial Media Marketing on your business? @mertanen #socialfest2012
    • Simple formula Sales? Growth of sales? Margin? Customer life time value? Other? Gain from investment – cost of investmentROI = Cost of investment Cost of work? + Cost of media? + Cost of agency? + Cost of tools?
    • What is the ROI of your relationships? Source: http://www.flickr.com/photos/xavivix/5917616223/
    • Social Marketing
    • Customer Relationship Management Source: http://www.flickr.com/photos/english106/4357529719/
    • BroadcastingSource: http://www.flickr.com/photos/rodrigobasaure/593942499/
    • She likes it!
    • It’s all about salesSource: http://www.flickr.com/photos/68751915@N05/6551534889/
    • Internet has always been social
    • Everything is social
    • Everything is social
    • Everything is social
    • http://www.flickr.com/photos/nslashdot/5074635716/
    • Advertising doesn’t equal marketing
    • Marketing as a whole
    • Measuring framework http://www.flickr.com/photos/kazk/198640938/
    • Measuring framework1. Purpose. What are we trying to achieve? Different point of views.  Product / service development  Processes (delivery, marketing etc.)  People (customers, partners, personel, recruiting)  Promotion = sales  Pricing
    • Measuring framework2. Goals  We are creating more development ideas and new innovations  We are improving our delivery and marketing processes  We are activating people, including our customers, partners and staff  We are growing our sales in different sales channels  We are trying to improve our profit by testing different kind of pricing
    • Measuring framework3. Key performance indicators about product, processes & people  Number of new development ideas and innovations (by channel, e.g. Facebook)  Number of feedback regarding to our current products / services  Quality and the tone of voice from customers  Task completion rate (by channel)  Number of recommendations (yes, likes too)  Number of product / service evaluations  Number of complaints regarding to our delivery process  Number of posts (by channel, by content type)  Number of fans, followers, subscribers (by channel)  Number of people involved
    • Measuring framework3. Key performance indicators about pricing & promotion  Number of promotions (by channel, by content type)  Number of reach: visits, fans, followers, subscribers etc. (by channel)  Engagement (bounce rate, number of shares, retweets etc.)  Number of pricing tests (by channel)  Sales, growth of sales, sales margin (by channel)  Return on investment  Return on ad spent
    • So what test?Source: http://www.kaushik.net/avinash/kill-useless-web-metrics-apply-so-what-test/
    • Continuous action model1. Analysis2. Decisions3. Action!
    • Asking the right questions
    • "Not everything that can be counted counts,and not everything that counts can be counted."  Source: http://www.flickr.com/photos/mansionwb/3585890288/
    • Measuring, analyzing and optimizing and changing marketing to make results. Petri Mertanen Senior Designer Marketing Analytics Mobile: +358 400 792 616 Email: petri.mertanen@zeeland.fi www: http://zeeland.fi