Is Any of This Social Media Stuff Working?

Is Any of This Social Media Stuff Working? Photo credit: http://www.flickr.com/photos/jm3/194885496/ Social Media ROI (Return on Investment) Amanda O’Brien – Hall Web Services

Who is this lady? Amanda O’Brien VP of Marketing at Hall Web Services [email_address] @amanda_pants www.hallme.com www.hallme.com/blog/ @hall_web
www.socialmediabreakfastmaine.com
www.socialmediab2b.com
www.amandapants.com
www.guidingstars.com

Ahh… the ROI Discussion

ROI of…

BIG brands are making money with social media Photo credit: http://www.flickr.com/photos/tambako/3593686294

But what about…

Photo credit: http://www.flickr.com/photos/aarongoodman/4427058951/ This isn’t working!!

Lets take a look… What were you trying to achieve? How were you measuring your progress? Where is your plan? What were your short term objectives? Long term? Timeline? Oh. Most companies don’t even look to start measuring until they have ‘failed’ Too many are measuring the wrong things – non-financial data, social media metrics Photo credit: http://www.flickr.com/photos/jonathanbeard/3196536843/

ROI is Easy ( + ) x Return on Investment Ratio of value received to the actual cost over a base period of time Resources x Rate Return = ROI Time spent (track it) Talent & Technology Rate Money in the bank

These may all lead to money but unless you convert these things – it isn’t
ROI is Money and Effort Buzz is not money Word of mouth is not money Engagement is not money Mentions on Twitter is not money Facebook Friends are not money YouTube Video views are not money Popularity is not money Photo credit: http://www.flickr.com/photos/cambodia4kidsorg/3085209738/

The problem is businesses are using a tools based strategy The tools are the thing to help you reach your goals – the tools are not the thing

Why are you doing this?
Sales – research buyers
Human Resources
Customer Support
Customer loyalty
Establish yourself as an expert
You Need a Plan

What could happen?!? Photo credit: http://www.flickr.com/photos/eecue/108265856/sizes/m/in/photostream/ http://www.flickr.com/photos/sgw/2892058635/sizes/m/in/photostream/

What could happen!?!

Sales
Get new leads
New customer conversions
Increase in average order size
Branding
PR (mainstream media mentions)
SEO (search engine rank changes)
Customer service (customer reviews posted)
Objectives first, tactics second
What are you using social media for? Photo credit: http://www.flickr.com/photos/karola/3623768629/sizes/m/in/photostream/

Marketing has always been about conversations
Used to be one to many – now many to many
Think before you start hard selling
Social Media is More About Relationships Than Sales Photo credit: http://www.flickr.com/photos/golf_pictures/1533308782/

How do you draw the line from Social Media to Sales?
Followers, connections
Conversations to sales leads
CRM system integration
Website traffic
Surveys
No automatic button
Photo credit: http://www.flickr.com/photos/wlodi/3085157011/

Social Media is Maturing So are the metrics Photo credit: http://www.flickr.com/photos/wickenden/2585732894/

Who are you trying to reach?
What are they worried about?
Pain points
Putting People in Buckets Target market – web visitors – leads – customers The best marketing doesn’t feel like marketing Build it and they will come doesn’t work

Determine Short Term Objectives
Increase website traffic
Build your online network
Blog subscribers
Content subscribers
Building Buzz
Photo credit: http://www.flickr.com/photos/opopododo/2570501919

Determine Long Term Objectives
Build awareness
Strengthen relationships
Understand your buying process better
Better search rankings
What will the company look like?

Determine Key Metrics
Obvious numbers
Number of posts
Audience growth
Conversions
Subscribers
Inbound Links
SEO Improvements
Set timelines
Customer satisfaction scores
Interaction
Diagnostics vs. Objective Metrics
– Christopher S. Penn
http://www.christopherspenn.com/2010/05/are-we-there-yet-diagnostic-versus-objective-social-media-metrics/

Determine a Timeline A working agenda to keep you on track Photo credit: http://www.flickr.com/photos/robbie73/4244846566

Social proof that they are making the right decision by choosing you
New Touchpoints in the Sales Cycle
Email newsletter
Blog
Twitter
Twitter Favorites
Facebook fan page
Interact with them where THEY are
Show more and tell less

Tools for Measuring Social Media Success Photo credit: http://www.flickr.com/photos/caitra_/4995924286/

Just because you can measure it doesn’t mean you should Photo credit: http://www.flickr.com/photos/ansik/304526237/

Google Analytics
Free
Where?
What?
How Long?

Landing Pages
Simple, direct
Heavily formatted
Unique URL
A/B Testing
Photo credit and examples at: http://www.marketingsherpa.com/lp/study.html

Photo and examples: http://unbounce.com/landing-page-examples/built-using-unbounce/7-new-landing-pages-for-your-inspiration/

Paid Solutions

Better to do one or two than fail at 20 Timely, targeted messages Relationships Sales funnel pieces, not sales pieces Must be integrated, not stand alone Icons Promotional Codes Landing pages Integration is Key

Lets Try: Handbags
Discovery – buckets, listening
Goals – more online sales
Plan – networks, content
Facebook – photos
Flickr
Blog
Email
Direct mail
Landing page
Discount code
Photo credit: http://www.flickr.com/photos/bbaunach/1055568917/

Lets Measure: Handbags
Track time – 1 hour a day, at least 1, 1, 1
Resources – just me
Measure – networks, content
Facebook – fans, interaction, analytics, conversion
Blog, Email subscribers and interaction
Direct mail – date sent, discount code used
Landing page – A/B test, conversion
Fancy tool – Spreadsheet, CRM
Photo credit: http://www.flickr.com/photos/bbaunach/1055568917/

Lets Try: Software Solution
Discovery – buckets, listening, survey
Goals – industry expert, reputation
Blog
Video Demos
SEO
PPC
Email
Direct mail
Landing pages
Photo credit: http://www.flickr.com/photos/deanj/2398424227/

Lets Measure: Software Solution
Track time – 1 post a week, video production, content creation
Resources – 3 person team
Blog – subscribers, comments
Video – views, embeds
Mailing list sizes and interaction
Traffic, landing pages, search rankings, PPC
Fancy tools – ESP, CRM, Analytics, Spreadsheet
Photo credit: http://www.flickr.com/photos/deanj/2398424227/

Lets Try: An Event
Discovery – buckets, listening, survey previous attendees
Goals – Buzz, butts
Blog
Live Video
Facebook, LinkedIn, Eventbright
Email
Direct mail
Signup and event survey
Landing pages, codes

Lets Measure: An Event
Track time – content creation
Resources – just me
Blog – subscribers, comments
Video – attendees
Mailing list sizes and interaction
Mentions, ReTweets, Posts
Reward brand evangelists, sponsors
Fancy tools – Analytics, Spreadsheet

Need more?
Vision Blog - http:// www.hallme.com/blog
Social Media 101 (book) - http://www.chrisbrogan.com/social-media-101/
Engage (book) - http://www.briansolis.com/2010/01/engage/
Brass Tack Thinking (blog) - http://www.brasstackthinking.com/
Webinars – Every Tuesday at 2PM EST http://www.hallme.com/webinars
Email Me: amanda @hallme.com
Follow us! http://twitter.com/hall_web
'Like' Us - http://www.facebook.com/hallweb
Slideshare: www.slideshare.net/amandahallme
This presentation is brought to you by the letters R, O and I

Is Any of This Social Media Stuff Working?

by Hall Internet Marketing on Sep 22, 2010

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Is Any of This Social Media Stuff Working? — Presentation Transcript