The 6 step process for measuring social media

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Social media success can be measured. In this presentation from Social Media Success Summit 2011, social media strategist Jay Baer shows the 6 step process for measuring social media success and ROI.

Published in: Business, Technology

The 6 step process for measuring social media

  1. Let’s Get Fearless: 6 Step Process for Social Media Measurement Presented by Jay Baer Design ©2011 Social Media Examiner • Content Copyrighted by Presenter
  2. Extreme Interest in Social Media Measurement ©2011 WhitePaperSource Publishing• Do NOT distribute
  3. ©2011 Social Media Examiner & Presenter • Do NOT distribute
  4. Step 1: Understand the Role of Social in Your Company <ul><li>Awareness? Sales? Loyalty? </li></ul>©2011 Social Media Examiner & Presenter • Do NOT distribute
  5. Awareness? Sales? Loyalty? <ul><li>Pick one. </li></ul>©2011 Social Media Examiner & Presenter • Do NOT distribute
  6. There’s No Magic Number in Social Media ©2011 Social Media Examiner & Presenter • Do NOT distribute
  7. Step 2: Know What You Can Measure ©2011 Social Media Examiner & Presenter • Do NOT distribute
  8. Money Book Guarantee! ©2011 Social Media Examiner & Presenter • Do NOT distribute
  9. Awareness Metrics ©2011 Social Media Examiner & Presenter • Do NOT distribute
  10. Positive Social Mentions ©2011 Social Media Examiner & Presenter • Do NOT distribute
  11. Share of Voice ©2011 Social Media Examiner & Presenter • Do NOT distribute
  12. Traffic From Social Outposts ©2011 Social Media Examiner & Presenter • Do NOT distribute
  13. Home Base & Outposts ©2011 Social Media Examiner & Presenter • Do NOT distribute
  14. Direct Report From Facebook ©2011 Social Media Examiner & Presenter • Do NOT distribute
  15. New Visitors From Social Outposts <ul><li>SEO/PPC Equivalent? </li></ul>©2011 Social Media Examiner & Presenter • Do NOT distribute
  16. Inbound Links ©2011 Social Media Examiner & Presenter • Do NOT distribute
  17. Search + Social <ul><li>Consumers who are exposed to a brand in social are 2.8x more likely to search for that brand’s products. </li></ul>©2011 Social Media Examiner & Presenter • Do NOT distribute http://scr.bi/g3Nc84
  18. Search Volume Trends ©2011 Social Media Examiner & Presenter • Do NOT distribute
  19. Content Consumption ©2011 Social Media Examiner & Presenter • Do NOT distribute
  20. Klout ©2011 Social Media Examiner & Presenter • Do NOT distribute
  21. Sales Metrics ©2011 Social Media Examiner & Presenter • Do NOT distribute
  22. Social Media Only Offers ©2011 Social Media Examiner & Presenter • Do NOT distribute
  23. Lead Generation ©2011 Social Media Examiner & Presenter • Do NOT distribute
  24. Social Connectivity Among Customers ©2011 Social Media Examiner & Presenter • Do NOT distribute
  25. Sales Funnel Behaviors ©2011 Social Media Examiner & Presenter • Do NOT distribute
  26. Loyalty Metrics ©2011 Social Media Examiner & Presenter • Do NOT distribute
  27. Brand Community Participation ©2011 Social Media Examiner & Presenter • Do NOT distribute
  28. Fan Advocacy ©2011 Social Media Examiner & Presenter • Do NOT distribute
  29. Lifetime Value Impact ©2011 Social Media Examiner & Presenter • Do NOT distribute
  30. Content Sharing ©2011 Social Media Examiner & Presenter • Do NOT distribute
  31. Content Subscription ©2011 Social Media Examiner & Presenter • Do NOT distribute
  32. Propensity to Promote ©2011 Social Media Examiner & Presenter • Do NOT distribute
  33. Step 3: Decide on ROI vs. Correlation ©2011 Social Media Examiner & Presenter • Do NOT distribute
  34. ROI in Practice <ul><li>10 leads per month via Contact Us after landing on the blog </li></ul><ul><li>10% of leads become clients </li></ul><ul><li>1 new client/month </li></ul><ul><li>Average client value is $15,000=$15,000/month revenue </li></ul>©2011 Social Media Examiner & Presenter • Do NOT distribute <ul><li>60 hours per month to create </li></ul><ul><li>Avg. staff salary + benefits = $60,000 </li></ul><ul><li>$60,000/2000 hours = $30 per hour </li></ul><ul><li>+ $500 per month in design costs=$2,300 per month investment </li></ul>ROI ALWAYS IS: revenue minus investment/investment 15,000 - 2,300/2,300 ROI = 552%
  35. Other Possible ROI Outcomes ©2011 Social Media Examiner & Presenter • Do NOT distribute
  36. Market Research ©2011 Social Media Examiner & Presenter • Do NOT distribute
  37. Customer Service Efficiencies ©2011 Social Media Examiner & Presenter • Do NOT distribute
  38. Correlation in Practice ©2011 Social Media Examiner & Presenter • Do NOT distribute
  39. 4. Select Metrics (in advance) ©2011 Social Media Examiner & Presenter • Do NOT distribute
  40. <ul><li>Pick 3 </li></ul><ul><li>Then See </li></ul>©2011 Social Media Examiner & Presenter • Do NOT distribute
  41. Step 5: Share the Data Widely ©2011 Social Media Examiner & Presenter • Do NOT distribute
  42. ©2011 Social Media Examiner & Presenter • Do NOT distribute
  43. Step 6: Embrace Anecdotes ©2011 Social Media Examiner & Presenter • Do NOT distribute
  44. 6 Step Process for Measuring Social Media: <ul><li>Understand the role of social </li></ul><ul><li>Know what you can measure </li></ul><ul><li>Decide on ROI vs. correlation </li></ul><ul><li>Select metrics (in advance) </li></ul><ul><li>Share the data </li></ul><ul><li>Embrace anecdotes </li></ul>©2011 Social Media Examiner & Presenter • Do NOT distribute
  45. Jay Baer <ul><li>Social Media Strategy </li></ul><ul><ul><li>convinceandconvert.com </li></ul></ul><ul><ul><li>nowrevolutionbook.com </li></ul></ul><ul><ul><li>@jaybaer </li></ul></ul>©2011 Social Media Examiner & Presenter • Do NOT distribute

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