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Social Media is Dead. Long Live Social Media ROI

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My keynote for Social Media Conference 2011. …

My keynote for Social Media Conference 2011.
Long Live Social Media ROI!

This Presentation Made it to TOP 5 Most Popular Business Presentations in the World for 2011 :-)
THANK YOU ALL!!!
[Go to slide #11]
http://www.slideshare.net/rashmi/slideshare-zeitgeist-2011

XPLAIN.co

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  • 1. SOCIAL MEDIAIS DEADLONG LIVESOCIAL MEDIA ROIStefanos  Karagos  |  XPLAIN  |  March  2011  xplain.co
  • 2. DO U HAVE A FB PAGE?xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 3. A TWITTER PAGE?xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 4. A SOCIAL MEDIA TEAM?xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 5. SO WHAT?xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 6. IT’S DEJA VUOur     Let’s  go     Has  Legal     Is  this   Let’s  put  our  TVCs  compe>tors   Social  too   seen  this?   Working?   on  YouTube!  have  a  FB  Page     xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 7. THE LONG STORY / SHORTxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 8. THE LONG STORY / SHORTxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 9. 10:00 AM @ OFFICETHE SCENE / BOSS IS ENTERING THE OFFICEBOSS / SEES HIS SECRETARY SURFING IN FACEBOOKxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 10. THE DIALOGxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 11. BOSS / HOW MANY FRIENDS DO YOU HAVE?xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 12. BOSS / HOW MANY FRIENDS DO YOU HAVE?SECRETARY / 4.999 MY BOSSxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 13. BOSS / HOW MANY FRIENDS DO YOU HAVE?SECRETARY / 4.999 MY BOOSBOSS / WOWW! OUR COMPETITORS HAVE ONLY 999!BOSS / HOW LONG DID THIS TAKE?xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 14. BOSS / HOW MANY FRIENDS DO YOU HAVE?SECRETARY / 4.999 MY BOOSBOSS / WOWW! OUR COMPETITORS HAVE ONLY 999!BOSS / HOW LONG DID THIS TAKE?SECRETARY / ONLY ONE MONTH MY BOSS!xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 15. BOSS / HOW MANY FRIENDS DO YOU HAVE?SECRETARY / 4.999 MY BOOSBOSS / WOWW! OUR COMPETITORS HAVE ONLY 999!BOSS / HOW LONG DID THIS TAKE?SECRETARY / ONLY ONE MONTH MY BOSS!BOSS / CAN YOU CREATE AND RUN OUR CO’S PAGE?xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 16. BOSS / HOW MANY FRIENDS DO YOU HAVE?SECRETARY / 4.999 MY BOOSBOSS / WOWW! OUR COMPETITORS HAVE ONLY 999!BOSS / HOW LONG DID THIS TAKE?SECRETARY / ONLY ONE MONTH MY BOSS!BOSS / CAN YOU CREATE AND RUN OUR CO’S PAGE?SECRETARY / YES MY BOSS! GIVE ME 5 MINUTES. the time it takes ! to start your FB Page!xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 17. BUT HE HADN’T SEEN HER PERSONAL PAGE.. content   Her  sexy  photos  from     her  latest  vaca2ons   audience   97%  “hungry”  men   18-­‐35  xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 18. a+er  6  months  THE RESULTxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 19. 555 FANS/LIKERS content   audience   Bla,  Bla,  Bla,  Bla   Who  Knows?   Bla,  Bla,  Bla   Who  Cares?  xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 20. facebook?  my  ass   NEXT TIME MARKETING MANAGER ASKED HIS BOSS TO INVEST €€€€ ON FACEBOOK MARKETINGxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 21. INVEST?xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 22. INVESTMENT MEANSxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 23. €$¥xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 24. ROIxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 25. WHAT DOES IT MEAN ROI?xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 26. it’s  recession  >me  RETURN ON INVESTMENTROI  =  [GAIN  FROM  INVESTMENT  –  COST  OF  INVESTMENT]  /COST  OF  INVESTMENT     the formula! xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 27. THE BASIC RULES OF ROIxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 28. RULE#1ROI IS A BUSINESS METRIC, NOT A MEDIA METRIC.RULE #2ROI IS 100% MEDIA-AGNOSTIC.RULE #3THE VALUES USED IN THE ROI EQUATION ARENONVARIABLE.xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 29. RULE#4ROI STANDS FOR RETURN ON INVESTMENT. PERIOD.RULE #5EVERY RESOURCE YOU ASSIGN TO A PROJECT HAS AVALUE.RULE #6ROI CAN ONLY CALCULATED AFTER THE INVESTMENTHAS YIELD A RETURN.xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 30. ROI IS BUSINESS MEASUREMENT, NOT ALCHEMY.IF YOUR EQUATION SHOWS A COST VALUE IN EUROSAND A GAIN VALUE EXPRESSED IN FACEBOOKLIKERS, YOU’RE IN TROUBLE.xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 31. SOCIAL MEDIA IS NOT FREExplain.co Social media is dead. long live social media roi 22-Mar-11
  • 32. EVERYTHING YOU PUT INTOA SOCIAL MEDIA PROGRAMHAS A COST ATTACHED TO ITxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 33. INCLUDING SOCIAL MEDIATO THE P&L WTF?  xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 34. €€€€   €€€€   NONFINANCIAL   FINANCIAL  INVESTMENT   ACTION   REACTION   IMPACT   IMPACT   THIS  IS  VERY  IMPORTANT,  BUT  ROI  DOESN’T  LIVE  HERE.  THE INVESTMENT-RETURN RELATIONSHIPxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 35. €€€€   €€€€   NONFINANCIAL   FINANCIAL  INVESTMENT   ACTION   REACTION   IMPACT   IMPACT  WELCOME TO ROI WORLDxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 36. DARE TO CONNECT THEM?What  is  the  unit  of  measure  [the  currency  in  other  words]  of  inspira>on?  How  about  Innova>on?  Rela>onships,  even?     xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 37. THE MAGIC WORD HERE IS:xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 38. CORRELATIONxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 39. IS THERE AN EASY WAY?xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 40. YESxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 41. FIRST THINGS FIRSTxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 42. #1 ESTABLISH A BASELINE Start  of  Ac>vity   Start  of  SM  Program   Start  of  Campaign   Start  of  Measurement   Trend:  10%  Growth  xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 43. #2 CREATE ACTIVITY TIMELINE 1     2   3   4   5   6   7   8   9   10   11   12  1st  Month   2nd  Month   ...   xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 44. #3 MONITOR THE VOLUME OF MENTIONS Overall  Men>ons   Posi>ve  Men>ons   Nega>ve  Men>ons   1     2   3   4   5   6   7   8   9   10   11   12  Months   xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 45. #4 MEASURE TRANSACTIONAL FORERUNNERS WHAT  YOU   MEASURE     WHAT  YOU  SHOULD   CAN  MEASURE   HERE   MEASURE  xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 46. #5 LOOK AT TRANSACTIONAL DATA Sales  Revenue  xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 47. #5 LOOK AT TRANSACTIONAL DATA Transac>ng  Customers  xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 48. #6 OVERLAY ALL YOUR DATA [STEPS 1-5] ONTO A SINGLE TIMELINEACTIVITIES   SOCIAL  DATA   WEB  DATA   160 160 160 140 140 140 120 120 120 100 100 100 80 80 80 60 60 60 40 40 40 20 20 20 0 0 0 Jan Apr Jul Oct Jan Jan Apr Jul Oct Jan Jan Apr Jul Oct JanTRANSACTIONS   LOYALTY  METRICS   160 160 140 140 120 120 100 100 80 80 AND  MORE...   60 60 40 40 20 20 0 0 Jan Apr Jul Oct Jan Jan Apr Jul Oct Janxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 49. #7 LOOK FOR PATTERNS CORRELATIONS   160 140 120 100 80 60 40 20 0 Jan Apr Jul Oct Janxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 50. #8 PROVE & DISPROVE RELATIONSHIPS CORRELATIONS   160 140 Why?  Why  Not?   120 100 80 60 40 How  this  group   was  touched  by   20 SM  or  WoM?   0 Jan Apr Jul Oct Janxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 51. I NEED A PROVExplain.co Social media is dead. long live social media roi 22-Mar-11
  • 52. GENERAL MILLS DAVID  WITT   Senior  Manager,     Brand  Public  Rela2ons,   General  Mills  xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 53. WHAT WILL HAPPEN IF YOUDON’T NOT CARE ABOUT ROI?xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 54. it’s  advocates  >me  RETURN ON IGNORANCExplain.co Social media is dead. long live social media roi 22-Mar-11
  • 55. IGNORANCE :BRAND’S DEATHxplain.co Social media is dead. long live social media roi 22-Mar-11
  • 56. THANK YOU!xplain.co Social media is dead. long live social media roi 22-Mar-11
  • 57. LEARN MORExplain.co Social media is dead. long live social media roi 22-Mar-11
  • 58. CONTACT USIF YOU CARE ABOUT YOURSOCIAL MEDIA ROI+30  210  6395234   xplain.co   karagos@xplain.co      Cyprus    Bahrain    Greece    Romania    Switzerland  xplain.co Thanks  for  the  inspira>on:  James  Belasco,  Oliver  Blanchard,  Alexander  Osterwalder