Social Media ROI
Download now: j.mp/kempqc
Kemp Edmonds
@KempEdmonds
• Passion Drives Profession
• Amateur Social Media Scientist
• Product Builder
• HootSuite Product Expert
Introduction – W...
Choose Your Own Adventure:
Social Media Stories
• Pakistan‟s First Social Media Company
• Chief Technology Officer, NASA
•...
Be Helpful. Create Value.
The Plan
OVERVIEW BEGINNER TO EXPERT FUNNELS FOR $$$
• Direct vs. Indirect
• Savings vs. Revenue
• Social Media Reality
• ...
-Social Media Examiner, 2013 Social Media
Marketing Industry Report
Only 26% of marketers surveyed in
2013 agreed that the...
• Trouble identifying social ROI tracking tools
• Trouble tracking data
• Lack of social analytics expertise
• Integration...
• Social Media is a communications channel
not an activity or campaign
• Social Media activities need to tie to
business o...
Overview
1. Target 2. Interact 3. Sell
$ $ $
Image By: @intersection1 used under creative commons.
What „R‟ does social media provide?
Direct
Indirect
Note: No real science was used in the creation of this infographic.
• Indirect revenue
• Brand awareness
• Brand Sentiment
• Improved customer satisfaction
• Product intelligence
• Competiti...
Measurable Direct Return…
Savings Revenue
AND
- Harvard Business Review
“It costs less than $1 per interaction
[on social media], whereas
telephone care is typically at...
Beginner to Expert
Revenue Attribution ScientistWho Me? Measure?
The Value of Data
5% -
Numbers
20% -
Analysis
75% -
Actionable
Insights
Beginner
Expert
Note: No real science was used in ...
EXPERT
BEGINNER
What should we do? Report
Communicate
Note: No real science was used in the creation of this infographic.
• Strategy
• Non-existent
• Gives up quickly
• Communication
• Broadcast - Wonders why it‟s not working
• Doesn‟t engage w...
Intermediate
• Strategy
• Not integrated w/business objectives
• Keeps trying the same things
• Communication
• Posts are ...
Advanced
• Strategy
• Integrated with business objectives
• Experiments and tries new things consistently
• Communication
...
Expert
• Strategy
• Tied directly to strategic business objectives
• Constantly tests measureable new ideas
• Communicatio...
Kemp‟s Measurement Philosophy
BASE
REACH
ENGAGEMENT
CONVERSION
End-to-End ROI Tracking
Conversion
(On Site)
Visitors
Interest
Conversion
{
Engagement
(Off Site)
ENGAGEMENT
CONVERSION
End-to-End ROI Tracking
Website Analytics
(On Site)
Visitors
Interest
Conversion
{
Engagement
(Off Site)
Social Metrics
(O...
Kemp‟s Measurement Philosophy
BASE
REACH
ENGAGEMENT
CONVERSION
Email: $ Value of a Subscriber
50 EMAIL SUBSCRIBERS
OPEN RATE
ACTIONS
(CLICK THROUGHS / VISITS)
$100 in
DONATIONS
Value of a Subscriber
50 Subscribers
$100 in Donations
$2 / Subscriber
=
Note: This is an example on an email campaign.
Th...
Social: $ Value of a Follower
100,000 FOLLOWERS
5,000 REACHED
500 CLICKS
$1000 in
SALES
Value of a Follower
100,000 Followers
$1000 in Sales
$0.01 /
Follower=
Note: This is an example on a single post.
This can...
Value of a Click
500 Clicks
$1000 in Sales
$2 / Click
=
Note: This is an example on a single post.
This can be done for mu...
Social Funnel Metrics
BASE = FANS, FOLLOWERS
REACH = AUDIENCE REACHED
ENGAGEMENT = CLICKS, LIKES
CONVERSION=
XYZ
Email Funnel Metrics
BASE = SUBSCRIBERS
REACH = OPEN RATE
ENGAGEMENT = CLICKS
CONVERSION=
XYZ
Website Funnel Metrics
BASE = VISITS
REACH = UNIQUE VISITS
ENGAGEMENT = PAGEVIEWS
CONVERSION=
XYZ
Campaign Objectives Social A/B Testing Campaign Results
• Track each sales
transaction back to a
single social message
the...
HootSuite & Tracking Codes
The Post
The Numbers: Proven Social ROI
• Communicate first measure second
• Setup multiple conversion opportunities
• Create more soft conversion opportunities
•...
Thank You!
Questions?
Download now: j.mp/kempqc
@KempEdmonds
kemp@hootsuite.com
Upcoming SlideShare
Loading in …5
×

Measuring Direct Social Media ROI

1,274 views
1,169 views

Published on

0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,274
On SlideShare
0
From Embeds
0
Number of Embeds
21
Actions
Shares
0
Downloads
20
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide
  • With all of the metrics available, why cansocial media ROI be so hard for marketers to determine?
  • With all of the metrics available, why cansocial media ROI be so hard for marketers to determine?
  • HootSuite has a powerful integration with Google Analytics…. The primary goal of the project was to show that businesses can track each sales transaction (or room booking in this case) back to a single social message, thereby measuring direct ROI of a social campaign. MediaLeaders needed to discover the best formula for social messaging. They partnered with HootSuite to ensure they were equipped with the necessary tracking tools including our integration with Google Analytics.
  • After testing multiple social messages, the team at MediaLeaders determined that this message would be the most effective. Here’s what the post looked like once it was published to the Palms Hotel’s Fb Page. The MediaLeaders team tested messaging by engaging with their audience, collaborating with the Palms on a daily basis to manage their social networks and track results end-to-end. They determined messaging by monitoring keywords like “Vegas Trip” and “Vegas Accommodation” along with brand and industry related mentions. They tested different messaging and monitored the results of those messages to determine that shorter messages—alongside rich media like a video or photographs—resulted in a great number of hotel reservations.
  • Using HootSuite and Google Analytics, the MediaLeaders not only tracked metrics such as increase in follower growth and engagement, but also measured the dollar value of each social message by showing the path of conversion. In the end, a simple Facebook message along with an image of the Vegas hotel generated $903 in revenue.Overall, the entire month-long social campaign:Exceeded their revenue goals by $2,029 (67%), earning a total of $5,029.19 Exceeded their room rate reservation goal by 7 transactions (47%), total of 22 transactionsIncreased Twitter followers from 45,164 to 47,760 followers (2596 total) in 30 daysIncreased follower engagement across all social channels (between impressions, likes, shares and RTs)
  • Measuring Direct Social Media ROI

    1. 1. Social Media ROI Download now: j.mp/kempqc Kemp Edmonds @KempEdmonds
    2. 2. • Passion Drives Profession • Amateur Social Media Scientist • Product Builder • HootSuite Product Expert Introduction – Who is this guy?
    3. 3. Choose Your Own Adventure: Social Media Stories • Pakistan‟s First Social Media Company • Chief Technology Officer, NASA • Expert Legal Witness – Facebook Fired
    4. 4. Be Helpful. Create Value.
    5. 5. The Plan OVERVIEW BEGINNER TO EXPERT FUNNELS FOR $$$ • Direct vs. Indirect • Savings vs. Revenue • Social Media Reality • Attributes • Techniques • Measurement • Tracking Purchase • Case Study
    6. 6. -Social Media Examiner, 2013 Social Media Marketing Industry Report Only 26% of marketers surveyed in 2013 agreed that they are able to accurately measure the results of their social activities.
    7. 7. • Trouble identifying social ROI tracking tools • Trouble tracking data • Lack of social analytics expertise • Integration of systems and tracking • Understanding what needs to be measured and how to measure it: • Brand Awareness: The value of a subscriber, the value of a follower, the value of a click • Lead Generation: Conversion rates of clicks to sales, Average revenue per sale Top Challenges with proving Social Media ROI in 2013 - Social Media Examiner, 2013 Social Media Marketing Industry Report
    8. 8. • Social Media is a communications channel not an activity or campaign • Social Media activities need to tie to business objectives and KPIs • Is your website ready to receive and convert visitors? • Tracking systems must be setup Let‟s get real
    9. 9. Overview 1. Target 2. Interact 3. Sell $ $ $ Image By: @intersection1 used under creative commons.
    10. 10. What „R‟ does social media provide? Direct Indirect Note: No real science was used in the creation of this infographic.
    11. 11. • Indirect revenue • Brand awareness • Brand Sentiment • Improved customer satisfaction • Product intelligence • Competitive opportunities • More more more… What is the indirect ROI?
    12. 12. Measurable Direct Return… Savings Revenue AND
    13. 13. - Harvard Business Review “It costs less than $1 per interaction [on social media], whereas telephone care is typically at least $6 per call. Even e-mail care costs $2.50 to $5 per interaction.”
    14. 14. Beginner to Expert Revenue Attribution ScientistWho Me? Measure?
    15. 15. The Value of Data 5% - Numbers 20% - Analysis 75% - Actionable Insights Beginner Expert Note: No real science was used in the creation of this infographic.
    16. 16. EXPERT BEGINNER What should we do? Report Communicate Note: No real science was used in the creation of this infographic.
    17. 17. • Strategy • Non-existent • Gives up quickly • Communication • Broadcast - Wonders why it‟s not working • Doesn‟t engage with audience • Measurement • Posts to social without short links • May suffer from Analysis Paralysis Beginner
    18. 18. Intermediate • Strategy • Not integrated w/business objectives • Keeps trying the same things • Communication • Posts are not always self-promotional • Reactive - Responds to the audience • Measurement • Shorten links to save characters • Tracks fans and followers obsessively
    19. 19. Advanced • Strategy • Integrated with business objectives • Experiments and tries new things consistently • Communication • Part of an integrated content strategy • Proactively reaches out to relevant parties • Leverages advertising to support social • Measurement • Uses tracking codes for last click attribution • Tracks the majority of social metrics
    20. 20. Expert • Strategy • Tied directly to strategic business objectives • Constantly tests measureable new ideas • Communication • Fully integrated with other channel media • Uses paid social to drive business objectives • Proactively reaches out to relevant parties • Measurement • Uses CRM, Marketing Automation and powerful Web Analytics tools for capture and nurture • Uses advanced techniques beyond last click attribution
    21. 21. Kemp‟s Measurement Philosophy BASE REACH ENGAGEMENT CONVERSION
    22. 22. End-to-End ROI Tracking Conversion (On Site) Visitors Interest Conversion { Engagement (Off Site) ENGAGEMENT CONVERSION
    23. 23. End-to-End ROI Tracking Website Analytics (On Site) Visitors Interest Conversion { Engagement (Off Site) Social Metrics (Off Site)
    24. 24. Kemp‟s Measurement Philosophy BASE REACH ENGAGEMENT CONVERSION
    25. 25. Email: $ Value of a Subscriber 50 EMAIL SUBSCRIBERS OPEN RATE ACTIONS (CLICK THROUGHS / VISITS) $100 in DONATIONS
    26. 26. Value of a Subscriber 50 Subscribers $100 in Donations $2 / Subscriber = Note: This is an example on an email campaign. This can be done for multiple emails or over a specific time period.
    27. 27. Social: $ Value of a Follower 100,000 FOLLOWERS 5,000 REACHED 500 CLICKS $1000 in SALES
    28. 28. Value of a Follower 100,000 Followers $1000 in Sales $0.01 / Follower= Note: This is an example on a single post. This can be done for multiple posts or over a specific time period.
    29. 29. Value of a Click 500 Clicks $1000 in Sales $2 / Click = Note: This is an example on a single post. This can be done for multiple posts or over a specific time period.
    30. 30. Social Funnel Metrics BASE = FANS, FOLLOWERS REACH = AUDIENCE REACHED ENGAGEMENT = CLICKS, LIKES CONVERSION= XYZ
    31. 31. Email Funnel Metrics BASE = SUBSCRIBERS REACH = OPEN RATE ENGAGEMENT = CLICKS CONVERSION= XYZ
    32. 32. Website Funnel Metrics BASE = VISITS REACH = UNIQUE VISITS ENGAGEMENT = PAGEVIEWS CONVERSION= XYZ
    33. 33. Campaign Objectives Social A/B Testing Campaign Results • Track each sales transaction back to a single social message thereby measuring direct ROI on a per- post basis. • Implementing HootSuite to track end-to-end ROI while A/B testing different social messaging • Exceeded revenue goals by 67% • Exceeded room rate reservation goal by 47% • Increased Twitter followers from 45, 164 to 47,760 in 30 days • Drove $903 in revenue over 30 days with one post Case Study - The $900 Facebook Post
    34. 34. HootSuite & Tracking Codes
    35. 35. The Post
    36. 36. The Numbers: Proven Social ROI
    37. 37. • Communicate first measure second • Setup multiple conversion opportunities • Create more soft conversion opportunities • ROI is a challenging thing to measure for communications mediums • It can be done but you must have goals • Not all ROI is directly associated with $ • Attribution is key In Conclusion… It can be done.
    38. 38. Thank You! Questions? Download now: j.mp/kempqc @KempEdmonds kemp@hootsuite.com

    ×