Social Media ROI & Fan Behaviour #twitterman
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Social Media ROI & Fan Behaviour #twitterman

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What is ROI? Where can I find it on Twitter? and why should I care about non-financial outcomes of social media? ...

What is ROI? Where can I find it on Twitter? and why should I care about non-financial outcomes of social media?

A little look into fan behaviour and how you might cultivate better non-financial results from social media.

A presentation for #Twitterman conference Manchester - October 5th 2011

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Social Media ROI & Fan Behaviour #twitterman Social Media ROI & Fan Behaviour #twitterman Presentation Transcript

  • Social Media ROI & How To Leverage Fan BehaviourGo ON...Get Your Phone Out & Tweet Using #twitterman
  • “what Is the ROI of Twitter?” Meep!
  • ROI is Not scary! Its Just the Efficiency of investment ROI = (Gain - Cost) Cost Just Multiply ROI by 100 To Get a percentageReturn on Investment (ROI) is simply a measure of the efficiency of an investment. ROI = (Gain – Cost)/Cost #twitterman
  • Wahooo!!! Social Media is Free... So it HAS a Fantastic roi, Right?Social Media might be free to set up but research, planning, strategy, content creation, monitoring & reporting all costs money #twitterman
  • There’s No Such Thing As Free LUNCHES SOCIAL MEDIA (and there’s no cookie cutter approach) mmm... RESOURCES There is no such thing as free social media! It’s your men, your money, your minutes. #twitterman
  • Two reasons to Use Social Media For business1. Make Money 2. Save MoneySocial Media is a platform which can be used to successfully achieve a wide range of business objectives. “Show me the money” #twitterman
  • Intangible Outcomes (non-financial) On The Surface, There may be no immediate “ROI” on Twitter. Instead, Build Long Term BenefitsOn the surface, there may be no immediate “ROI” on Twitter. Some outcomes are not financially based. So, ROI is not found here. #twitterman
  • Which Department Should “Own” Social Media? Sales HR No One Dept Should...Customer R&D Support Customer loyalty?...No one department should have full authority over your social media, is your accounts team the only one allowed emails? #twitterman
  • Get Specific Give Your Objectives Targets To Give Your Team FocusGet specific with your targets. Give numbers of units you want to sell. This gives your team a problem to solve & an end goal. #twitterman
  • The $1,000,000 QuestionSell 1500 more Shortlist 20 candidates units in Q4 to interview for your new Social Media roles Make good 30 Why? Research latest customer trends to develop complaints a new product this month Engage with 200 existing customersStart with the ‘why’. Understand your biz objectives & set MEASURABLE targets. Solve the problem, then go do what you do best. #twitterman
  • Measurement "I dont care how many eyeballs we are reaching, unless we are selling stuff...“"I dont care how many eyeballs we are reaching, unless we are selling stuff.” Can you prove otherwise?.. #twitterman
  • Followers? @replies? RTs? What on Earth Do I Measure? Klout? REACH? Sentiment?"Not everything that can be counted counts, and not everything that Meep! counts can be counted." - Albert Einstein #twitterman
  • Each KPI You Measure Should Relate To Your Business Objectives! Non-financial outcomes are not ROI !! They tell the story and Fill the gap between Investment and return And They Can be Indicators for Future ROI Its worth remembering that non-financial outcomes ARE worth something. But right now, 50,000 new opt-ins do NOT equate to ROI. #twitterman
  • Listen, Measure, Analyse, Report & act! Listen Measure Analyse Report Collect Quantify Extract Regularly deliver information data actionable insight actionablethat is relevant using focus set insights against to your forth in objectives to objectives objectives all stakeholders Dont measure and report Social Media numbers just because it’s easy. Measure and report if it means something. #twitterman
  • Only Measuring Online activity? Overlay Social Media Outcomes with Transactions, Sales Data & Other Metrics Validate or reject Any Correlations you findCorrelation doesnt mean causation! Remember to validate any relationships you find: links must be proved or disproved. #twitterman
  • Tools, Tricks & Tips "Start where you stand, work with whatever tools you may have at your command, and better tools will be found as you go along.”"Start where you stand, work with whatever tools you may have at your command and better tools will be found as you go along.” #twitterman
  • Social MonitoringBig BoysData Friendly Social Media Monitoring... Well... Twitter Advanced Search is underrated http://bit.ly/AdvTwitterSearch #twitterman
  • URL Tracking + Goals http://bit.ly/ScreendripInTheNorthhttp://bit.ly/GoogleShortener http://bit.ly/AnalyticsGoalshttp://bit.ly/TrackSocialAnalytics Track links back to your site with http://bit.ly/GoogleShortenerShorten with http://bit.ly & Set up goals in Google Analytics #twitterman
  • Google Analyticshttp://mz.cm/SocialSegments Use Google Analytics to segment social traffic that arrives to your site. See how to do that here: http://mz.cm/SocialSegments #twitterman
  • Measure Influence?...Popular tools for measuring influence online include http://www.peerindex.com, http://klout.com & http://kred.ly/. But be smart #twitterman
  • Fan Behaviour “You need to build trust & relationships before closing a sale” “You need to build trust & relationships before closing a sale.”Non-financial goals are still vitally important to businesses. #twitterman
  • Fan Behaviour I’m talking about these non-financial outcomes here Make people feel good, Immerse them, like they belong... ...And You Increase Likelihood of fans: Visiting Your Recommending You Website Longer to their friends Purchasing from Revisiting Your Website your websiteMy research proved that fans who are immersed with brands online were more likely to recommend and purchase from them in future. #twitterman
  • ColdplayWhen Coldplay were in the studio recording their new album, they handed their homepage over to their fans’ artwork. #twitterman
  • Imogen heapImogen Heap video blogged the recording of her album, taking on board fan ideas. Her set list is decided by her fans. #twitterman
  • Key Take Aways Understand the difference between ROI & non-financial outcomes How to Measure Social Media Understand Motivations of “Fans” (or at least, to start thinking about it)I want you to understand ROI and non financial outcomes, how you should measure social media AND to think about your audience. #twitterman
  • Ask Yourself If Twitter Is:1. Making You Money 2. Saving you Money Is Twitter making or saving you money? If it’s not doing either, then you’re probably using it wrong. #twitterman
  • Come talk to me on Twitter @charliesaidthatThank You For Listening I’m Charlie Southwell Cofounder of Email: charlie@screendrip.com Web: http://www.screendrip.comBlog: http://charliesaidthat.com/digital Suggested reading: http://amzn.to/BookOfROI