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

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

  1. Social Media Planning & Measurement: Proving (or not) the Value of Social Media Beth Harte Community Manager, MarketingProfs @bethharte
  2. Why Measurement is Important
  3. The silver bullet myth Image source: realestatedementia.com/
  4. Are you ready for hard work? Image source: http://imagecache2.allposters.com/images/JAG/03-PS35-6.jpg
  5. Politics will always exist Image source: http://www.cartoonstock.com/newscartoons/cartoonists/tcr/lowres/tcrn92l.jpg
  6. Image source: clarinet-now.com Tactics without a plan...
  7. Don’t think you need a plan? Image Source: www.bulldogblog.net/articles/wp-content/uploads/2009/02/money.jpg
  8. With a plan... Image source: clarinet-now.com
  9. How to write a measurable plan
  10. The Plan:
    • Goal
    • Measurable Objectives
    • Strategy
    • Tactics
  11. 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
  12. 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
  13. 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.
  14. 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
  15. 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
  16. 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
  17. 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
  18. 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
  19. 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
  20. Plans need to be flexible Image Source: Flickr, ralphventon
  21. What to measure when it comes to social media
  22. Typical Measurement & Value Image sources: harperstudio.typepad.com, tiphut.wordpress.com , bp.blogspot.com, publichealth.columbus.gov, bmwblog.com, conversationmarketing.com
  23. Measurement Today
  24. Traditional Marketing Funnel
  25. Social Network Interference
  26. New Marketing Funnel
  27. SM Measurement of Engagement Image sources: digitalstrategy.govt.nz, orionwell.files.wordpress.com, itqb.unl.pt, iStock, gognis.net
  28. 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
  29. 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)
  30. 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
  31. 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
  32. ROI – What’s the R? Image sources: http://www.mywasher.net & http://mymoneymakingexperiment.commoney-blogging.gif
  33. ROI – What’s the I? Image sources: blogs.discovermagazine.com, www.ecu.edu, www.clydepumps.com/overview-2
  34. 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
  35. Measurement is a puzzle Image source: www.askmario.com/backtalk/backtalk_puzzle.php
  36. Where tools can help and where they can’t
  37. Tools to help measure
  38. Tools to help measure Image Sources: mentalfloss.cachefly.net, www.orthonurse.org, i.ehow.com/images, www.smbmarketingguide.com/
  39. Who needs to be involved & what management expects
  40. Who needs to be involved
    • C-Suite (CMO)
    • Finance
    • Marketing Management (VP)
    • Marketing Directors/Managers
    • Support Staff
    • Vendors
  41. 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%
  42. 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
  43. Only $49. Free for Premium Members !
  44. Q A &

+ Beth HarteBeth Harte, 5 months ago

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