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Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
Understanding Social Media ROI
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Understanding Social Media ROI

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There's no silver bullet. But with a little work and a new interpretation of "ROI," measuring the benefits of social media is possible. This presentation includes real-world case studies, tons of KPIs …

There's no silver bullet. But with a little work and a new interpretation of "ROI," measuring the benefits of social media is possible. This presentation includes real-world case studies, tons of KPIs and some easy formulas for metrics to get you started.

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  • 1. Understanding Social Media ROI Courtney Seiter | @RavenCourtsRaven Internet Marketing Tools |@raventools raventools.com/smx
  • 2. Theres no silver bullet
  • 3. • Only 20% of CMOs think social mediamarketing produces measurable ROI.• Only 19% of marketers feel confident inmeasuring social media ROI.• Only 13% say they are “very effective” atdetermining social success. Sources: Marketing Sherpa, Lenskold Group, Chief Marketer
  • 4. Source: Wildfire
  • 5. 1 weird old tip 3 weird old tips forunderstanding social media ROI: • Know your goals • Align social metrics • Break it down
  • 6. Know Your Business Goals
  • 7. Types of Social Media Goals• Brand Sentiment • Sales• Share of Voice • Customer Support• Reach • Product• Engagement Development• Brand Advocates • Marketing Insights• Brand Trust • Brand Loyalty
  • 8. Gilt GroupeGoal: Solve shippingcosts barrier usinginsight from onlinecommunityResult: 10%increase in shoppingcart conversion Source: Communispace
  • 9. AT&T Goal: Address negative sentiment and unresolved customer service issues on the social webResult: 21,000 customer issues resolved 37,500 customers served Source: Ants Eye View
  • 10. LOreal Goal: Increase awareness and product sales at salonsResult: Participation by 6,000 salons, 21 million impressions, 2.2 million engagements Source: Forrester
  • 11. Align Social Metrics with Goals Source: Awareness
  • 12. Get More Specific!• Reduction in sales cycles• Reduction in customer support costs• Number of product improvement suggestions from [social network]• Increase in product reviews/ratings• Number of people in [specific location] who follow us on Twitter
  • 13. Measuring Brand Sentiment
  • 14. Measuring Customer Support Reduction Reduction Increase in Support in On-Site Resolution Costs Support Rate Improved Leads Customer Generated Happiness by Support
  • 15. Measuring Product Innovation Number of new Number of new product ideas product ideas built Research time Traditional research saved cost savings
  • 16. Break it Down• By goal• By campaign• By time period• By medium• Even by post
  • 17. To measure Share of Voice comparebrand mentions to competitors. Source: Web Analytics Demystified & Altimeter Group
  • 18. To measure Engagement, measureparticipation. [Social Network] Interactions Engagement = Engagement Total Views Source: Web Analytics Demystified & Altimeter Group
  • 19. To measure Reach, compare audienceparticipation to your audience reach. Source: Web Analytics Demystified & Altimeter Group
  • 20. Other KPIs to Consider• Volume of consumer- • Ranking created buzz improvements• Seasonality of buzz • Number of• Rate of virality interactions• Embeds/installs • Store locator views• Increases in searches • Registrations by channel
  • 21. Use event tracking and campaignvariables in Google Analytics to assesscontent virality.
  • 22. http://gaconfig.com
  • 23. Thank You! Courtney Seiter Raven Internet Marketing Tools@RavenCourts | raventools.com/smx

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