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

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

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

by Beth Harte on Aug 21, 2009

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