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Social South 2009 presentation on social media planning and measurement as presented by Beth Harte, Community Manager, MarketingProfs

Social South 2009 presentation on social media planning and measurement as presented by Beth Harte, Community Manager, MarketingProfs

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    Beth Harte / Social South 2009: Social Media Planning & Measurement Beth Harte / Social South 2009: Social Media Planning & Measurement Presentation Transcript

    • Social Media Planning & Measurement: Proving (or not) the Value of Social Media Beth Harte Community Manager, MarketingProfs @bethharte
    • Why Measurement is Important
    • The silver bullet myth Image source: realestatedementia.com/
    • Are you ready for hard work? Image source: http://imagecache2.allposters.com/images/JAG/03-PS35-6.jpg
    • Politics will always exist Image source: http://www.cartoonstock.com/newscartoons/cartoonists/tcr/lowres/tcrn92l.jpg
    • Image source: clarinet-now.com Tactics without a plan...
    • Don’t think you need a plan? Image Source: www.bulldogblog.net/articles/wp-content/uploads/2009/02/money.jpg
    • With a plan... Image source: clarinet-now.com
    • How to write a measurable plan
    • The Plan:
      • Goal
      • Measurable Objectives
      • Strategy
      • Tactics
    • What is a goal?
      • What do you hope to gain by engaging in social media?
      • Does your goal fit into the overall corporate goal?
      • How to write a goal:
      • To increase sales
      • To decrease customer service expenditures
      • How not to write a goal:
      • To increase sales AND to increase customer engagement
      Image source: getentrepreneurial.com
    • Types of objectives
      • Output: Physical products
        • Blog post, news release, e-mail, etc.
      • Outtake: What a target audience takes away
        • Messages, perceptions, understandings
      • Outcome: Quantifiable changes in attitudes, behaviors, or opinions
        • Sales, change in the number of downloads, requests, responses
    • Writing measurable objectives
      • To be measurable, objectives MUST include:
      • A specific desire, communication or behavioral effect;
      • A designated target audience among whom the effect is to be achieved;
      • The expected level of attainment; and
      • The timeframe in which those attainments are to occur.
    • Measurable objectives
      • Output: To create a Facebook fan page and have 15% of online public #2 join within 6 months .
      • Outtake: To increase positive mentions that include key message in key industry blogs by 15% within six months .
      • Outcome: To increase sales of Product X by 20% within 3 months .
      • To increase sales
      • To decrease customer service expenditures
      • To increase sales and to increase customer engagement
      • To decrease customer service expenditures and to increase customer satisfaction
      How not to write an objective
    • Strategy
      • What is the approach to achieving objectives and reaching the goal?
      • Example: Establish a Facebook Fan Page to keep target audiences connected.
      • Set up a Ning community to support customers of Product X.
      Image source: getentrepreneurial.com
    • Tactics
      • What activities will be conducted to carryout specific objectives?
      • What tools will be used?
      • Example:
        • Set up the Facebook account
        • Invite target audience via an e-mail
      Image source: http://francisanderson.files.wordpress.com
    • A Sample Plan Outline
      • Goal
      • Objective 1 (Outcome objective)
        • Strategy 1
          • Tactic 1
          • Tactic 2
      • Objective 2 (Output objective)
        • Strategy 1
          • Tactic 1
        • Strategy 2
          • Tactic 1
          • Tactic 2
    • Sample Measurable Plan
      • Goal: To lose weight
      • Outcome Objective: I want to lose 10 pounds by September 15th
      • Strategy 1: I will go to the gym 5 times a week
        • Tactic 1: Elliptical machine
        • Tactic 2: Weight training
      • Strategy 2: I will watch what I eat
        • Tactic 1: Weight Watchers
        • Tactic 2: Journal
      • Measurement: I lost 8 pounds by September 15th (Objective not met)
      Image source: http://reviewsofdietprograms.com/photos/scale.jpg
    • Sample Measurable Plan
      • Goal: To increase sales
      • Outcome Objective: To increase sales of Product X by 20% within 3 months
      • Strategy 1: To use Facebook to engage customers of product X
        • Tactic 1: Create a Facebook Fan Page
        • Tactic 2: Create Facebook Ads
      • Strategy 2: To use Twitter to engage customers of product X
        • Tactic 1: Conversational Tweets
        • Tactic 2: Tweets with discount codes
      • Measurement: An increase of sales in Product X of 25% within 6 months (Objective not met)
      Image source: http://www.salesmotivation.net/img/salesrun.jpg
    • Plans need to be flexible Image Source: Flickr, ralphventon
    • What to measure when it comes to social media
    • Typical Measurement & Value Image sources: harperstudio.typepad.com, tiphut.wordpress.com , bp.blogspot.com, publichealth.columbus.gov, bmwblog.com, conversationmarketing.com
    • Measurement Today
    • Traditional Marketing Funnel
    • Social Network Interference
    • New Marketing Funnel
    • SM Measurement of Engagement Image sources: digitalstrategy.govt.nz, orionwell.files.wordpress.com, itqb.unl.pt, iStock, gognis.net
    • What to measure...
      • Friends, Followers, Fans
      • Comments/Subscribers
      • Tweets/Retweets
      • URL shortener stats
      • Increased web traffic
      • Click-thrus
      • Net Promoter Score
      • Influence
      • Sentiment
      • Brand mentions
      • Share of conversation
      Image source: www.flickr.com/photos/joshrussell/580372830
      • B enchmarking
      • O bjectives
      • R eturn on Expenditures
      • R eturn on Investment
      Measurement Best Practices BORR-ing...but necessary! Image source: www.usm.edu/pr/releases/2006/may/cook.htm
    • Benchmarking Image Sources: http://www.defenselink.mil/ & http://www.sweatyguineapig.com Where did we start? Plan #1: 15 lbs. overweight Plan #2: $50,000 in sales Where did we end? Plan #1: 7 lbs. overweight (lost 8 lbs) Plan #2: $62,500 in sales (25% increase)
    • Objectives
      • Plan #1: I want to lose 10 pounds by September 15 th
        • Results: 8 pounds lost by September 15 th
        • Objective not met by 7 pounds
      • Plan #2: To increase sales of Product X by 20% within 3 months
        • Results: Sales of Product X increased by 25% in six months
        • Objective not met by 3 months
      • Measuring Tactical Expenditures:
        • Gym cost
          • $50/month (1 month)
        • Weight Watchers cost
          • $400/month (1 month)
        • Journal cost
          • $5.00
        • New sneakers cost
          • $80.00
        • New gym clothes cost
          • $100.00
      • TOTAL: $635.00/8 lbs = $79.38 per pound
      ROE – Plan #1
    • ROE – Plan #2
      • Measuring Tactical Expenditures :
        • Facebook
          • Free
        • Facebook Ads
          • $500/month (3 months = $1,500)
        • Employee’s Facebook Time
          • $40/hour ($40/hr * 10 hrs/wk * 12 weeks = $4,800 )
        • Twitter
          • Free
        • Employee’s Twitter Time
          • $40/hour ($40/hr * 10 hrs/wk * 12 weeks = $4,800 )
      • TOTAL: $11,100/5 sales = $2,220 per sale
    • ROI – What’s the R? Image sources: http://www.mywasher.net & http://mymoneymakingexperiment.commoney-blogging.gif
    • ROI – What’s the I? Image sources: blogs.discovermagazine.com, www.ecu.edu, www.clydepumps.com/overview-2
    • ROI – Plan #2 Gain from Investment – Cost of Investment Cost of Investment And is always expressed in a percentage! $12,500 - $11,100 $11,100 ROI = 13% Sales Expenditures
    • Measurement is a puzzle Image source: www.askmario.com/backtalk/backtalk_puzzle.php
    • Where tools can help and where they can’t
    • Tools to help measure
    • Tools to help measure Image Sources: mentalfloss.cachefly.net, www.orthonurse.org, i.ehow.com/images, www.smbmarketingguide.com/
    • Who needs to be involved & what management expects
    • Who needs to be involved
      • C-Suite (CMO)
      • Finance
      • Marketing Management (VP)
      • Marketing Directors/Managers
      • Support Staff
      • Vendors
    • Speak Management’s Language
      • Metrics that management wants to see:
        • An increase in sales of $12,500 as benchmarked against last quarter
        • Objective was not met by 3 months
        • Each sale was $2,500 at an expense of $2,220
        • Social Media ROI was 13%
    • Get Management Approval
      • Present your analysis
        • What did you hear? What was the sentiment? What is the competition doing?
      • Share your measurable plan to address findings
      • Provide detailed information
        • Budget
        • Required resources, time, vendors, etc.
      • Demonstrate how you will provide an ROI
    • Only $49. Free for Premium Members !
    • Q A &