Setting up a Social Media Measurement Program - Dispelling #SMROI Myths & Case Studies by @DrNatalie
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Wondering how to set-up a social media measurement program? This presentation walks you through some social media ROI myths. It explores why creating a business case is more important than ever if you ...
Wondering how to set-up a social media measurement program? This presentation walks you through some social media ROI myths. It explores why creating a business case is more important than ever if you want to keep or increase your social media budget - that's because the pragmatists (Early Majority) want to understand how social media is moving the needle on traditional business metrics.
For most people, while we know social media is here to stay and something that companies pretty much need to do, few are clear on where the real business value comes from.
Often times people present metrics or KPIs (Key Performance Metrics) as their ROI. ROI is not a metric. It's a comparison of the benefits vs the costs of doing something. Costs tend to be made up of the costs of people, process and technology. It's the benefits that most people find more difficult to give attribution to and why more people are unsure of how to calculate social media ROI. This is something that I help companies understand.
This presentation uses case studies of the comparison of the costs vs. the benefits of using social media monitoring.
The case studies include examples from:
• Insurance Company who wanted to look at the effectiveness of an advertising campaign vs. a competitors campaign
• A craft company who creates products for scrap booking-type crafts; they wanted to look at product development & the effectiveness of their marketing
• A company that creates medical devices for diabetes & insulin injections who wanted to look at the effectiveness of their product launch and marketing
• A healthy kid snack company who wanted to examine a product launch and their product marketing
The technology used to do the evaluations was Crimson-Hexagon.
For more information or help with evaluating your social media initiatives you can find me at www.DrNatalieNews.com or on Twitter at @drnatalie
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