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Measuring Social Media Marketing ROI - Malaysia

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  • 1. How to measure ROI of Social Media?www.digitalvidya.com 1 © Digital Vidya
  • 2. Guiding Principleswww.digitalvidya.com 2 © Digital Vidya
  • 3. Don’t be obsessed with Absolute Nos Look for Trends & Patterns!www.digitalvidya.com 3 © Digital Vidya
  • 4. Don’t look for a universal formula Every channel has its own metricswww.digitalvidya.com 4 © Digital Vidya
  • 5. Two Dimensions of Measurement Returns What “Returns” did you get? How much of “Returns” can be Attribution “Attributed” to the investment?www.digitalvidya.com 5 © Digital Vidya
  • 6. Types of Returns A clear & direct metric Tangible Units Sold, Leads Generated, Total Registrations, Referral Traffic At most an indicative metric Intangible Brand Awareness, Reputation, Customer Satisfaction, Customer Loyaltywww.digitalvidya.com 6 © Digital Vidya
  • 7. Attribution is a Hard Problem Broken Chains More often than not, it’s hard to establish a credible sequence of events. Not all the metrics are available or Missing Metrics captured automatically. Multiple marketing efforts with a single Mixed Influence outcome coincide with each other.www.digitalvidya.com 7 © Digital Vidya
  • 8. Unbroken Chain of Events: e-commerce Attribution 1. You Post a Link of 2. Total 3500 people 3a. Total 17 of these your Product Page visit product page buy the product in on Facebook through that link first visit 3b. Total 250 people 4. In 15 days period, register for Free Trial 34 people upgrade version to paid from trial Investment: Posting a link on Facebook Result: 51 product units soldwww.digitalvidya.com 8 © Digital Vidya
  • 9. Unbroken Chain of Events - Services Attribution 1. You see 38 tweets 2. You respond to all 3. Total 7 people by people looking for of them introducing interact with you for web design your services further details 4. You close business worth $7.5K with 3 of them. Investment: Listening on Twitter & Responding to prospects Result: $7.5K worth of Businesswww.digitalvidya.com 9 © Digital Vidya
  • 10. Broken Chains of Events Attribution – Broken Chains You Promote your product on LinkedIn You use a Blog for You get $20K thought leadership worth of Business with You interact with “unknown people on FB/Twitter source” You resolve people’s issues on FB/Twitterwww.digitalvidya.com 10 © Digital Vidya
  • 11. Fixing Broken Chains Attribution – Broken Chains • Ask your customers where they came from “if you can” • Could be part of registration process or included at some other step • Not reliable but might provide indicatorswww.digitalvidya.com 11 © Digital Vidya
  • 12. Missing Metrics Examples Attribution – Missing Metrics How many issues were resolved on Twitter? How many $ were saved/earned by resolution of issues? Did you note down that FB was used for Market Research? And that lead came from an introduction over LinkedIn!www.digitalvidya.com 12 © Digital Vidya
  • 13. Resolving Issues around Metrics Attribution – Missing Metrics Issue: All the metrics are not captured in a tool. E.g. if you resolved a customer issue on Twitter, which tool recorded this?Resolution: Needs deploying a tool or a simple manual capturing of the data in a document. The choice depends on the scale.www.digitalvidya.com 13 © Digital Vidya
  • 14. Resolving Issues around Metrics Attribution – Missing Metrics Issue: All the metrics are not fully measurable. E.g. value of resolving a customer issue on Twitter. Is it $20 or $2K or $2M?Resolution: Needs a simple model to find approximate value. E.g. resolving a customer issue could be worth the business given by that customer.www.digitalvidya.com 14 © Digital Vidya
  • 15. The problem of Mixed Influences Attribution – Mixed Influence Social Media TV Online Reputation Print Impossible to measure influence of a Offline single campaign when everything is executed togetherwww.digitalvidya.com 15 © Digital Vidya
  • 16. Where to begin?www.digitalvidya.com 16 © Digital Vidya
  • 17. Start with Objectives  Reach & Visibility  Engagement  Reputation  Leads & Sales  Feedbackwww.digitalvidya.com 17 © Digital Vidya
  • 18. Define the Metrics  Engagement  Leads and Sales  Posts by Members  No of leads  Comments/Likes  No of transactions  Tags  Speed, time and cost of sales cycle  Votes  Conversion  Bookmarks improvement  Referrals  Customer Retention  Customer Referralswww.digitalvidya.com 18 © Digital Vidya
  • 19. Define the Metrics  Reputation  Visibility  Search Results  No of Search Results  Tonality  Views  Referrals  Trafficwww.digitalvidya.com 19 © Digital Vidya
  • 20. Map it to the Channel Measure 1 Measure 2 Measure 3 Measure 4 LinkedIn Facebook Twitter Blog YouTube SlideSharewww.digitalvidya.com 20 © Digital Vidya
  • 21. Benchmarkwww.digitalvidya.com 21 © Digital Vidya
  • 22. Continuous Processwww.digitalvidya.com 22 © Digital Vidya
  • 23. Tools to Measure on Social Mediawww.digitalvidya.com 23 © Digital Vidya
  • 24. Google Analyticswww.digitalvidya.com 24 © Digital Vidya
  • 25. Facebook Insightswww.digitalvidya.com 25 © Digital Vidya
  • 26. Facebook Insights - Postwww.digitalvidya.com 26 © Digital Vidya
  • 27. www.digitalvidya.com 27 © Digital Vidya
  • 28. www.digitalvidya.com 28 © Digital Vidya
  • 29. www.digitalvidya.com 29 © Digital Vidya
  • 30. www.digitalvidya.com 30 © Digital Vidya
  • 31. Radian6www.digitalvidya.com 31 © Digital Vidya
  • 32. Thank You!www.digitalvidya.com 32 © Digital Vidya