First things first We’re not going to talk a lot about the basics that you always hear about social media But, they are still valuable activities Opening two way conversations & creating brand affinity Leveraging amplification opportunities Generating buzz Learning about your customers and fanbase Learning from your customers
Laying the groundwork • What are the key goals of your social media program? Do these goals and tactics tie back to your broader business objectives? • What audience are you trying to reach? • What are the key performance indicators (KPIs) that will help you evaluate the success of your program? • Ultimately, look at how you can tie back to business measures 11
Building and Measuring Value Find new ways to create value for your brand using social - build Put a strategy in place to show the monetary value social media is bringing - measure 12
Social as a CRM channel Social can be used to complement your existing CRM channel Extract value from customer interactions Capture and analysis of customer data in the traditional CRM software model remains valid The challenge is to find a way to extract value from conversations in channels that are outside the company. 17
Online has struggled to create standards for themetrics that matter Radio (1930’s) Television (1950’s) Internet (1990’s)
Clicks do not equal sales Nielsen NetEffect meta analysis: “There is no correlation between CTR and ROI%” 1400% 900% ROI % 400% Breakeven 0.00% 0.10% 0.20% 0.30% -100% Click through Rate Correlation = -.07%
Advertising Effectiveness Measurement Reach Did I reach the right number of people and the right type of people for the right number of times? Brand Resonance Did I improve my brand’s image and change the attitudes of customers? Reaction Did I cause a customer to act? To buy a product, sign up for a service, or make a referral?