Social Media Measurement and ROI

  • 1,223 views
Uploaded on

 

More in: Technology , Business
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
1,223
On Slideshare
0
From Embeds
0
Number of Embeds
0

Actions

Shares
Downloads
46
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. Monitoring, measurement, analytics and ROI Measuring Your Way to SM Success 02/10/10
  • 2. Social Media and Business
    • 250 million Facebook users
    • 120 million login daily
    • 18 million Twitter users
    • >1.5 million pieces of content are shared on Facebook DAILY
    02/10/10 Force to be reckoned with Fundamental shift in how we communicate Source: Erik Qualman “Socialnomics” http://socialnomics.net/2009/08/11/statistics-show-social-media-is-bigger-than-you-think/
  • 3. Social Media and Business
    • Over 200,000,000+ blogs
    • 54% post content or tweet daily
    • 34% of bloggers post opinions about products and brands
    02/10/10 Source: Erik Qualman “Socialnomics” http://socialnomics.net/2009/08/11/statistics-show-social-media-is-bigger-than-you-think/
  • 4. Social Network Use Skyrockets 02/10/10
  • 5. It’s All About Trust
    • 25% of search engine results are links to user generated content
    • 78% consumers trust recommendations from their “social graph”, only 14 % trust ads
    02/10/10 Source: Erik Qualman “Socialnomics” http://socialnomics.net/2009/08/11/statistics-show-social-media-is-bigger-than-you-think/
  • 6. The Question Is
    • … But rather
    • How do I engage?
    • Where do I engage?
    • How do I know if it’s working?
    • What’s the impact on my business? What’s the ROI?
    02/10/10 … No longer “Should I engage?”
  • 7. Social Media: Impact on Business
    • +18% sales in companies with highest use of social media
    • -6% sales in companies with the least
    • 18% of traditional TV ads generate positive ROI
    02/10/10 Source: Erik Qualman “Socialnomics: Social Media ROI” http://www.youtube.com/user/Socialnomics09#p/a/u/0/ypmfs3z8esI
  • 8. Social Media: Impact on Business
    • $20 mil reduction in call center activity
    02/10/10 Source: Erik Qualman “Socialnomics: Social Media ROI” http://www.youtube.com/user/Socialnomics09#p/a/u/0/ypmfs3z8esI
  • 9. Social Media: Impact on Business
    • 24% of social media leads convert to sales opportunities
    02/10/10 Source: Erik Qualman “Socialnomics: Social Media ROI” http://www.youtube.com/user/Socialnomics09#p/a/u/0/ypmfs3z8esI
  • 10. Social Media: Impact on Business
    • 37% of Gen Y were aware of Ford Fiesta (via social media)
    • in advance of its launch
    02/10/10 Source: Erik Qualman “Socialnomics: Social Media ROI” http://www.youtube.com/user/Socialnomics09#p/a/u/0/ypmfs3z8esI
  • 11. How Do You Measure Success? 02/10/10 Traffic Lead Generation Links Awareness Social Media Coverage Signups Conversion Sales Profit Retention Customer Service
  • 12. Let’s Talk About ROI, Baby…
    • ROI = Return on Investment
    • You need to know:
    • Your investment in the program
    • Success metrics
    • How to tie your activities to these success metrics
    02/10/10
  • 13. The Definition of ROI has Expanded
    • Return on Engagement: measure of time spent interacting
    • Return on Participation / Involvement: measure & value time spent participating in conversations
    • Return on Attention: seize & hold attention, measure response
    • Return on Trust: measure of customer loyalty & likelihood for referrals
    02/10/10 Source: Brian Solis “The Maturation of Social Media” http://mashable.com/2010/01/26/maturation-social-media-roi/
  • 14. Source: Jaime Shiller http://jamieshiller.com, http://www.marketextend.com
  • 15. Step 1: Monitoring
    • In social media, they will talk about you anyway
    • You need to:
    • Listen
    • Understand what customers want, top issues
    • Understand how they feel about you, your competitors
    • Sentiment, share of voice
    • After you have a handle on it, you can engage
    02/10/10
  • 16. How Do You Monitor? 02/10/10 Share of voice How they feel Where to focus Where they are Source: Biz360 Community Insights
  • 17. Step 2: Engagement
    • Listening is no longer enough
    • But before you engage….
    • … What is your purpose?
    • Outreach activities with “influencers”
    • Brand building, thought leadership
    • Convert the curious to leads
    • Customer service, neutralize problems
    • Quick sales lift - promotion
    • Knowing your purpose will help you measure
    02/10/10
  • 18. Step 3: Social CRM
    • Helps you organize and track your engagement activities:
    • Align your team
    • Bring all the functions together
    • Effective and efficient workflow
    • Allows you to track each lead as they become customer or not
    02/10/10
  • 19. Step 4: Web Analytics
    • What happens when a customer gets to your site
    • Understand where they came from
    • Conversion
    • Return visits
    02/10/10
  • 20. Step 5: Retention
    • How do you engage with existing customers
    • Customer service
    • Email marketing
    • Special programs
    • Offer something of value: webinars, white papers, upgrade paths
    • Measure and track back to original contact
    02/10/10
  • 21. Free Report
    • Measure social media coverage and buzz around Social Media Week with Community Insights tool from Biz360
    • http://bit.ly/SMWreport
    02/10/10
  • 22. Panelists
    • Jamie Shiller: Principal Consultant, Market Extend
    • @jamieshiller
    • Sudha Jamthe: Social Media Strategist, Paypal X Platform
    • @sujamthe
    • Bliss Dake: VP, eCommerce & Operations, Mighty Leaf
    • @themaria
    • Maria Ogneva: Director, Social Media, Biz360
    • @themaria @biz360
    02/10/10