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Measuring Social Media ROI - SMX Milan '13
 

Measuring Social Media ROI - SMX Milan '13

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A presentation covering a landscape of social media value, for #SMX Milan 2013

A presentation covering a landscape of social media value, for #SMX Milan 2013

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  • Because the boss needs to know...
  • they often act as a “force multiplier” –having an effect on another part of your marketing.
  • Each one of these things isn’t like a slice of the pie that can be added up to identify value... instead,
  • they often act as a “force multiplier” –having an effect on another part of your marketing.
  • they often act as a “force multiplier” –having an effect on another part of your marketing.
  • http://ilpubs.stanford.edu:8090/993/2/displayadinfluenceTR.pdfhttp://blog.nielsen.com/nielsenwire/online_mobile/nielsenfacebook-ad-report/
  • http://ilpubs.stanford.edu:8090/993/2/displayadinfluenceTR.pdfhttp://blog.nielsen.com/nielsenwire/online_mobile/nielsenfacebook-ad-report/Hermann Ebbinghaus Forgetting Curve
  • http://ilpubs.stanford.edu:8090/993/2/displayadinfluenceTR.pdfhttp://blog.nielsen.com/nielsenwire/online_mobile/nielsenfacebook-ad-report/
  • Desired Outcomes; Eta

Measuring Social Media ROI - SMX Milan '13 Measuring Social Media ROI - SMX Milan '13 Presentation Transcript

  • Social Media ROI? Ric Dragon @RicDragon
  • What's the ROI of Trust and what’s the ROI of Loyalty? -Ted Rubin
  • Every time I hear ‘social media ROI,’ a kitten dies. -Scott Stratton
  • Would you want to know the ROI of your mother?” -Gary Vaynerchuk
  • What’s the ROI of putting on your pants in the morning? -Scott Monty, Ford Motor Co.
  • THE MARKET ECOSYSTEM CUSTOMER/ BRAND ECO-SYSTEM IN THE CUSTOMERS MIND
  • ASSUMPTIONS
  • THE MARKET ECO-SYSTEM 1.Marketing Lift 2.Impact on Search Engine Optimization 3.Risk Mitigation
  • Customer/Brand System 4.Transaction (the actual purchase or negotiation) 5.Repeat transactions (TLV) 6.Loyalty – resistance to change 7.Advocacy
  • The Customer Mindspace 8.Awareness 9.Recognition 10.Associations 11.Perceived Quality 12.Likeability
  • a Force Multiplier
  • Awareness Value = (Market Size) X (Awareness Change %) X (Purchase Intent %) X (Sales Conversion %) X (Unit Profits €)
  • Lift • Could well-executed social media increase the effectiveness of current advertising spend by 1% If so, what would that be worth?
  • Frequency Hermann Ebbinghaus Forgetting Curve
  • Value of Risk Mitigation Potential Cost X Likelihood of Occurrence X Mitigation Benefits = value of mitigation
  • Purpose & Vision Create Indelible Memories Goal Be center to more storytelling in social media Objectives Metrics Publish excellent blog content at least six times / month # of blog posts / month Increase community by 50% # of followers # of interactions Increase engagement by 100% # of comments on blog # of mentions Increase amplification by 50% # of shares
  • 3000 Target 1000 NOW Twitter Retweets
  • What’s the ROI of Social Media?
  • Grazie Mille Ric Dragon, DragonSearch dragon@dragonsearch.net Twitter: @ricdragon