1. How to measure the effect ofSocial Media Marketing on your business? @mertanen #socialfest2012
2. 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?
3. What is the ROI of your relationships? Source: http://www.flickr.com/photos/xavivix/5917616223/
17. 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
18. 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
19. 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
20. 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
21. So what test?Source: http://www.kaushik.net/avinash/kill-useless-web-metrics-apply-so-what-test/