SOCIAL ROI IN 7EASY STEPSPRESENTED BYSERENA GOLDBERG, MANAGER OF ANALYTICSJENNA LEBEL, VP OF GLOBAL MARKETINGOCTOBER 24, 2...
TODAYS PRESENTERS            Serena Goldberg        Jenna Lebel            Manager of Analytics   VP of Global Marketing  ...
WHATS INSIDEMeet Likeable                   7 Easy Steps to Social ROIOverview of Social ROI          A Likeable Case Stud...
HAVE A QUESTION?Tweet questions to @LikeableMediaor use the hashtag #likeableAsk questions on our Facebook pageat fb.com/L...
MEET LIKEABLE
TIMELINE#likeable
MEET OUR CLIENTS#likeable
WHAT IS SOCIALROI?
ROI IS A HIGHLYDEBATED TOPICIN SOCIAL MEDIA#likeable
SOCIAL ROI DEFINED   “While the definition of ROI (revenue minus   expenses / expenses) is fairly straightforward,   ROI c...
SOCIAL ROI STATS41% of marketers surveyed had no returnon investment figure for any of the moneythey had spent on social c...
OVERVIEW OFSOCIAL ROI
SOCIAL ROI:ITS CONTEXTUALDefining social ROI is challengingbecause it’s all contextual#likeableSAMPLE FACT                ...
SOCIAL ROI:MORE THANSALES EARNINGSNever let one general number be your ROI#likeableSAMPLE FACT
WHY YOURE NOTSEEING RESULTS
WHY YOURE NOTSEEING RESULTSYou only focus on likes and follows#likeable
WHY YOURE NOTSEEING RESULTSYoure only measuring whats there#likeable
WHY YOURE NOTSEEING RESULTSYou don’t compare your results to theindustry in general or your competitors#likeable
WHY YOURE NOTSEEING RESULTSYou aren’t telling a storyStraight data = ineffectiveAnalysis = critical#likeable
WHY YOURE NOTSEEING RESULTSYou aren’t able to adjust your strategyas a result#likeable
DO’S & DONTS
SOCIAL ROIDO: OUTLINE GOALSIdentify SuccessBrainstorm ideal outcomes andreference points so you can measureagainst them#li...
SOCIAL ROIDO: TELL A STORYSupplement your data with stories#likeableSAMPLE FACT                         SOME HASHTAG
SOCIAL ROIDO: DIFFERENTIATEKnow different metrics matter todifferent people#likeableSAMPLE FACT                        SOM...
SOCIAL ROIDO: USE VARIOUSMETHODS#likeableSAMPLE FACT   SOME HASHTAG
SOCIAL ROIDONT: MEASUREEVERYTHINGOnly measure what matters to yourbrand and what will move yourstrategy forward#likeableSA...
SOCIAL ROIDONT: RELY ON TOOLS TOPROVIDE ANALYSISOnly use these tools to provide data,trends and themes#likeableSAMPLE FACT...
SOCIAL ROIDONT: MISTAKE ROIData, metrics and KPIs are not ROIData and metrics show the positiveand negative changes that h...
SOCIAL ROIDO’S AND DONTSDo                      DontOutline Goals           Measure EverythingTell A Story            Rely...
SOCIAL ROI IN7 EASY STEPS
STEP 1: DETERMINE YOUR GOALS#likeable
STEP 2: BENCHMARKING#likeable
STEP 3: PUT THE TRACKING IN PLACE#likeable
STEP 4: MEASURE
STEP 5: DETERMINE YOUR COST#likeable
STEP 6: IDENTIFY THE RETURN#likeable
STEP 7: CALCULATE AND EVALUATE                      BENEFITS – COSTS             ROI =                           COSTS#lik...
PUTTING IT IN    PRACTICE    Our Case Study#likeable
PUTTING IT IN PRACTICE:OUR CASE STUDYClient: Things RememberedPromotion: Brides-to-BeWhat: Private event for Facebook fans...
PUTTING IT IN PRACTICE:OUR CASE STUDYResults:53% of all stores had a transaction thatincluded the free gift23.6% saw reven...
LIKEABLE CONTENT:EXCLUSIVE ACCESSSAMPLE FACT         SOME HASHTAG#likeable
LIKEABLE BUSINESS:BONUS OFFERLikeable Business: Why Today’s Consumers Demand Moreand How Leaders Can Deliver is available ...
THANK YOU!Questions? Feedback? Grand Prize!SERENA GOLDBERG, MANAGER OF ANALYTICSJENNA LEBEL, VP OF GLOBAL MARKETINGhttp://...
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Social Media ROI in 7 Easy Steps

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  • Must know the numbers that matter to key players in your business
  • One tool or one data set will not give you your ROI
  • More followers does not directly translate into higher ROI People do not make buying decisions based on how many “likes” a brand has
  • All of the social media platforms have built-in analytics that provide the basis and obvious insights You must utilize third-party tools for deeper and more meaningful insights
  • Ask yourself and research: How are you measuring up to your competition? How do you fare against the industry in general?
  • Use qualitative data extracted from daily interactions with consumers (can be used as case studies)
  • Let the numbers dictate the course ahead Ask yourself: What worked? What didn’t? Why? What can we adjust to make it work next time?
  • Ask yourself: What does success look like? What are you trying to accomplish? What is the return you’re after?
  • Don’t just present data and numbers, make stories out of them (i.e. case studies) Identify relevant data points Account for them Shift strategy accordingly
  • Social Strategists & Community Managers Sheer numbers (fans, followers, visitors, interactions, sentiment, etc.) Marketing Executives Brand & Actions (awareness, purchase intent, lead generation, redemption) C-Level Executives Sales (conversions, lifetime value, revenues)
  • Utilize an assortment of methods to show effectiveness Some commonly used methods include: Traditional ROI % Facebook Fan Value Redemptions
  • Do not over-quantify and get persuaded into thinking you need to measure everything
  • Your social media strategy is far too complicated for software to analyze The analysis depends on your interpretation and how you define success
  • What measurable goals do you seek? Increase brand awareness Drive leads Drive traffic to website Reduce customer service cost Improve customer satisfaction Improve customer retention and loyalty Increase sales
  • Critical first step to understanding the starting line and how to measure any improvements Used to identify where you are and where you want to be Benchmarks need to align with campaign and may include content analysis or surveys
  • In order to see and measure results coming from a specific campaign, adding unique tracking is a must Tracking can take the form of a tracking code on a URL or a unique code required during in-store purchase
  • Make sure results using unique tracking is recorded Gather data and analyze results Compare results to benchmarks and goals Segment data to obtain different views To determine the real value of a fan/ follower, you must analyze: Whom they are What they consume How often they consume it
  • Cost is a big part of the ROI equation and goes well beyond hard media costs. To determine cost, look at these categories of costs: People: the number of people who contributed x the number of hours spent x their hourly rate (agencies too!) Technology: Any software or technology used in the campaign Process: Creative and production costs
  • If the appropriate tracking has been implemented, the return should be fairly easy to identify. Without the appropriate tracking, return becomes harder to isolate and attribute to social activities alone.
  • Here comes the fun part! Once you have each piece of the formula you can plug everything in and evaluate your ROI.
  • Social Media ROI in 7 Easy Steps

    1. 1. SOCIAL ROI IN 7EASY STEPSPRESENTED BYSERENA GOLDBERG, MANAGER OF ANALYTICSJENNA LEBEL, VP OF GLOBAL MARKETINGOCTOBER 24, 2012http://slideshare.com/likeablehttp://bit.ly/smroiwebinarhttp://likeableroi.com#likeable
    2. 2. TODAYS PRESENTERS Serena Goldberg Jenna Lebel Manager of Analytics VP of Global Marketing Likeable Media Likeable Media @SerenaGoldberg @JennaL15#likeable
    3. 3. WHATS INSIDEMeet Likeable 7 Easy Steps to Social ROIOverview of Social ROI A Likeable Case Study ExampleWhy You’re Not Seeing Results Q&A, Feedback & Grand PrizeDo’s & Don’ts#likeable
    4. 4. HAVE A QUESTION?Tweet questions to @LikeableMediaor use the hashtag #likeableAsk questions on our Facebook pageat fb.com/LikeableMediaUse the chat bar in GoToWebinar toask questions!#likeable
    5. 5. MEET LIKEABLE
    6. 6. TIMELINE#likeable
    7. 7. MEET OUR CLIENTS#likeable
    8. 8. WHAT IS SOCIALROI?
    9. 9. ROI IS A HIGHLYDEBATED TOPICIN SOCIAL MEDIA#likeable
    10. 10. SOCIAL ROI DEFINED “While the definition of ROI (revenue minus expenses / expenses) is fairly straightforward, ROI can only be defined when you understand “Marketers often frame this question as what results provide “value” to your brand.” What is the ROI of social media? but financial metrics are just one way of evaluating social media marketing Wildfire ROI White Paper programs. Social media marketing delivers a wide range of benefits to organizations that are beneficial in the “Social media is measurable. It can be done. short term and long term in ways both To say social media cant be measured is a quantitative and qualitative.” cop-out, and dangerous for anyone who works in an organization that, say, plans to make or raise money at some point in the future.” Forrester Report, The ROI of Social Marketing#likeable Altimeter Group#likeable
    11. 11. SOCIAL ROI STATS41% of marketers surveyed had no returnon investment figure for any of the moneythey had spent on social channels as ofOctober 2011.74% of CMOs believe they’ll tie socialmedia efforts to hard ROI this year.#likeable
    12. 12. OVERVIEW OFSOCIAL ROI
    13. 13. SOCIAL ROI:ITS CONTEXTUALDefining social ROI is challengingbecause it’s all contextual#likeableSAMPLE FACT SOME HASHTAG
    14. 14. SOCIAL ROI:MORE THANSALES EARNINGSNever let one general number be your ROI#likeableSAMPLE FACT
    15. 15. WHY YOURE NOTSEEING RESULTS
    16. 16. WHY YOURE NOTSEEING RESULTSYou only focus on likes and follows#likeable
    17. 17. WHY YOURE NOTSEEING RESULTSYoure only measuring whats there#likeable
    18. 18. WHY YOURE NOTSEEING RESULTSYou don’t compare your results to theindustry in general or your competitors#likeable
    19. 19. WHY YOURE NOTSEEING RESULTSYou aren’t telling a storyStraight data = ineffectiveAnalysis = critical#likeable
    20. 20. WHY YOURE NOTSEEING RESULTSYou aren’t able to adjust your strategyas a result#likeable
    21. 21. DO’S & DONTS
    22. 22. SOCIAL ROIDO: OUTLINE GOALSIdentify SuccessBrainstorm ideal outcomes andreference points so you can measureagainst them#likeableSAMPLE FACT SOME HASHTAG
    23. 23. SOCIAL ROIDO: TELL A STORYSupplement your data with stories#likeableSAMPLE FACT SOME HASHTAG
    24. 24. SOCIAL ROIDO: DIFFERENTIATEKnow different metrics matter todifferent people#likeableSAMPLE FACT SOME HASHTAG
    25. 25. SOCIAL ROIDO: USE VARIOUSMETHODS#likeableSAMPLE FACT SOME HASHTAG
    26. 26. SOCIAL ROIDONT: MEASUREEVERYTHINGOnly measure what matters to yourbrand and what will move yourstrategy forward#likeableSAMPLE FACT SOME HASHTAG
    27. 27. SOCIAL ROIDONT: RELY ON TOOLS TOPROVIDE ANALYSISOnly use these tools to provide data,trends and themes#likeableSAMPLE FACT SOME HASHTAG
    28. 28. SOCIAL ROIDONT: MISTAKE ROIData, metrics and KPIs are not ROIData and metrics show the positiveand negative changes that haveoccurred in your business#likeableSAMPLE FACT SOME HASHTAG
    29. 29. SOCIAL ROIDO’S AND DONTSDo DontOutline Goals Measure EverythingTell A Story Rely On Tools To Provide AnalysisDifferentiate Mistake SM data, metrics, or KPIs for ROIUse Different Methods#likeableSAMPLE FACT SOME HASHTAG
    30. 30. SOCIAL ROI IN7 EASY STEPS
    31. 31. STEP 1: DETERMINE YOUR GOALS#likeable
    32. 32. STEP 2: BENCHMARKING#likeable
    33. 33. STEP 3: PUT THE TRACKING IN PLACE#likeable
    34. 34. STEP 4: MEASURE
    35. 35. STEP 5: DETERMINE YOUR COST#likeable
    36. 36. STEP 6: IDENTIFY THE RETURN#likeable
    37. 37. STEP 7: CALCULATE AND EVALUATE BENEFITS – COSTS ROI = COSTS#likeable
    38. 38. PUTTING IT IN PRACTICE Our Case Study#likeable
    39. 39. PUTTING IT IN PRACTICE:OUR CASE STUDYClient: Things RememberedPromotion: Brides-to-BeWhat: Private event for Facebook fansonly that included a free personalized gift,private shopping and expert advice byshowing “engaged” status on Facebook#likeableSAMPLE FACT SOME HASHTAG
    40. 40. PUTTING IT IN PRACTICE:OUR CASE STUDYResults:53% of all stores had a transaction thatincluded the free gift23.6% saw revenue increase on this daycompared to the same day of last yearOverall 670% ROI#likeableSAMPLE FACT SOME HASHTAG
    41. 41. LIKEABLE CONTENT:EXCLUSIVE ACCESSSAMPLE FACT SOME HASHTAG#likeable
    42. 42. LIKEABLE BUSINESS:BONUS OFFERLikeable Business: Why Today’s Consumers Demand Moreand How Leaders Can Deliver is available for pre-order onAmazon.Want a free Likeable consulting session? Buy 10 books ofLikeable Business today! Email theresa@likeable.com formore information.Upcoming Likeable Business Events: • October 29th: Book launch party in NYC • Reserve your ticket today! • October 30th: Video chat book tour • RSVP today! • October 31st: Free webinar with Andy SernovitzSAMPLE FACT SOME HASHTAG • Why A Likeable Business Is the Best Word of Mouth • RSVP today: http://bit.ly/WJgAnD#likeable
    43. 43. THANK YOU!Questions? Feedback? Grand Prize!SERENA GOLDBERG, MANAGER OF ANALYTICSJENNA LEBEL, VP OF GLOBAL MARKETINGhttp://likeable.comhttp://FB.com/likeablemedia@likeablemedia
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