SOCIAL MEDIA                            How to measure ROI and other analyticsThursday, February 21, 13
THE SCOOP    1. How does Social Media fit into your marketing plan?    2. What are your goals?    3. What are your key metr...
YOUR MARKETING PLANThursday, February 21, 13
YOUR MARKETING PLAN    • Where                 does Social Media fit into your marketing plan?    • How              much t...
YOUR MARKETING PLAN    • Social Media should be an extension of your current        marketing efforts    • Use           S...
HOW MUCH TIME FOR SM?                                                            •   A significant 59% of                  ...
CREDIBILITY                            • 73% of CEOs think marketers lack                             business credibility...
SUCCESS / FAIL    • Never    use a social media metric when talking to non-social        executives    • Use           ter...
SUCCESS / FAIL                            Benefits of Social Media Marketing                                               ...
SUCCESS / FAIL    • The   top two benefits of social media marketing are increasing        exposure and increasing traffic  ...
YOUR GOALS                                 •   What metrics are important to                                     your busi...
KEY METRICS    •   Cost per impression         •   How much does it cost per user view?    •   Cost per engagement        ...
CALCULATE ROI    • Use       google analytics         •   It has built-in social media tracking    • Set   up what your co...
CALCULATE ROIThursday, February 21, 13
TRACK PROGRESS    • Create                 and maintain a spreadsheet to show your costs over        time (see spreadsheet...
TOOLS    • Google Analytics               ~ http://www.google.com/analytics    • URL            Builder ~ http://goo.gl/1r...
CONTACT                            Kiar Olson                            kiar@kiarmedia.com                            @ki...
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Social media ROI 2-21-13

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Kiar Olson's presentation for the Green Bay Area Chamber of Commerce Business & Breakfast series on February 21, 2013

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Social media ROI 2-21-13

  1. 1. SOCIAL MEDIA How to measure ROI and other analyticsThursday, February 21, 13
  2. 2. THE SCOOP 1. How does Social Media fit into your marketing plan? 2. What are your goals? 3. What are your key metrics? 4. How to Calculate ROI 5. Track your progressThursday, February 21, 13
  3. 3. YOUR MARKETING PLANThursday, February 21, 13
  4. 4. YOUR MARKETING PLAN • Where does Social Media fit into your marketing plan? • How much time should you spend on Social Media? • Does social media lack credibility? • How do I show successes and failures?Thursday, February 21, 13
  5. 5. YOUR MARKETING PLAN • Social Media should be an extension of your current marketing efforts • Use Social Media to engage and inform, not just push products • Create your own content and curate when it adds value • Link to your website (Um, duh!) • Use a URL shrinker to link outside your URLThursday, February 21, 13
  6. 6. HOW MUCH TIME FOR SM? • A significant 59% of marketers are using social media for 6 hours or more and 33% for 11 or more hours weekly* • However, more experienced social media users are spending less time with social media compared to 2011 findings * © 2012 Social Media Marketing Industry ReportThursday, February 21, 13
  7. 7. CREDIBILITY • 73% of CEOs think marketers lack business credibility: They cant prove they generate business growth • Theyare not effectiveness-focused enough, leading to CEO-Marketer disconnect http://www.fournaisegroup.com/Marketers-Lack-Credibility.aspThursday, February 21, 13
  8. 8. SUCCESS / FAIL • Never use a social media metric when talking to non-social executives • Use terminology executives are familiar with, not jargon • Start thinking in terms of other marketing channels and what you measure there • Use cost per impression, cost per conversion, cost per mentionThursday, February 21, 13
  9. 9. SUCCESS / FAIL Benefits of Social Media Marketing 3,800 marketers surveyedThursday, February 21, 13
  10. 10. SUCCESS / FAIL • The top two benefits of social media marketing are increasing exposure and increasing traffic • Nearly two-thirds of marketers are using social media to gain marketplace intelligence (65%). Tied for fourth place, 58% of marketers indicated generating leads and developing loyal fans were benefits of social media* * © 2012 Social Media Marketing Industry ReportThursday, February 21, 13
  11. 11. YOUR GOALS • What metrics are important to your business? • For business it comes down to three things: sales volume, revenue, and cost • Generate soft leads in social media and get them with email or direct sales callsThursday, February 21, 13
  12. 12. KEY METRICS • Cost per impression • How much does it cost per user view? • Cost per engagement • How much does it cost to get them to interact? • Cost per lead • How much does it cost to get a customer in?Thursday, February 21, 13
  13. 13. CALCULATE ROI • Use google analytics • It has built-in social media tracking • Set up what your conversion is worth in dollars in the GOALS section • Use what you are currently using in a AdWords campaign or traditional mediaThursday, February 21, 13
  14. 14. CALCULATE ROIThursday, February 21, 13
  15. 15. TRACK PROGRESS • Create and maintain a spreadsheet to show your costs over time (see spreadsheet attached) • Go back and add data every month for the things that matter to your company • Don’t mistake customer service with new business • Use the same metrics for social media as you do other avenues of marketingThursday, February 21, 13
  16. 16. TOOLS • Google Analytics ~ http://www.google.com/analytics • URL Builder ~ http://goo.gl/1rF5e • URL Shrinkers ~ goo.gl - ow.ly - bitly.com - lots of options • Online Management ~ Hootsuite.com - Bufferapp.com • Reports ~ socialreport.com - socialmention.comThursday, February 21, 13
  17. 17. CONTACT Kiar Olson kiar@kiarmedia.com @kiarmedia, @macdesign13 920-883-1391 kiarmedia.comThursday, February 21, 13
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