Measuring social media efforts nh
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Measuring social media efforts nh

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Measuring social media efforts nh Measuring social media efforts nh Presentation Transcript

  • Measuring your social media marketing efforts Hint: Size isn’t everything Natalie Henry @henrynatalie April 2010
  • It looks like fun but like any relationship, it takes effort.
  • The issue: The focus of social media is on building and nurturing relationships. Old school sales-related rules don’t necessarily apply. Those rules hinge on quantifiable ROI.
  • And why aren’t they effective for measuring social media efforts?
  • Measuring social media initiatives with old school methods does not capture the way ‘word of mouse’ travels. Doing so also inhibits participation.
  • Steps we need to take before we can start measuring Don’t worry there are only five of them.
  • 1. Build concrete goals i.e. What do you want social media to do for your company or a particular project? Be S-M-A-R-T about it.
  • 2. What’s the plan? How do you plan to fulfill the goals? This action plan should complement the marketing strategy.
  • 3. Implementation and execution: It’s time to put the plan into action. When doing so, consistency is key. LISTEN ► LEARN ► CONVERSE ► TWEAK ► REPEAT
  • 4. Measuring results: You put in the time and effort, now what?
  • Five separate metrics (These aren’t definitive.) >Reach >Frequency and Traffic >Influence >Conversions and Transactions >Sustainability
  • 5. Keep talking. Regular interaction is vital. We can’t just write an article, post a blog entry or finish a campaign and call it a day. This is relationship building folks – not chitchat in the elevator.
  • Time to sum it up • Size is irrelevant • Create SMART goals • Build and execute an action plan aka LISTEN ► LEARN ► CONVERSE ► TWEAK ► REPEAT • Measure selected metrics in above goals. • Keep talking (listening and tinkering).
  • Reminder: You must begin with determining your objectives and then apply metrics according. Here’s a cheat sheet to get you started: 100 ways to measure social media http://www.marketersstudio.com/2009/11/100-ways-to-measure-social- media-.html
  • Parting thought: Should you ask ‘What's the ROI of your efforts?’ or ‘What value are you creating for people via social media?’
  • Thanks for listening. Natalie Henry @henrynatalie
  • Sources Measurement Strategies for 5 Social Media Goals (PR Communications) - John Cass Are We Too Worried with Finding the ROI of Social Media? (The Viral Garden) 100 Ways to Measure Social Media (Inside the Marketers Studio/David Berkowitz)? The New Community Rules: Marketing on the Social Web by Tamar Weinburg Lose Control of Your Marketing: Why marketing ROI measures Lead to Failure by David Meerman Scott Social Media: Who Can Show Us the Real Value? (Econsultancy) Cheers to Social Media by Simon Baptist and Dylan Fuller (Slideshare presentation) Oliver Blanchard Basics of Social Media ROI (Slideshare presentation) Social Media Networking and ROI: How to Maximize Value and Minimize Cost Images: Creative Commons