How To Measure ROI For Social Media

How to measure ROI for Social Media ? Vanina Delobelle, Ph.D. July 2009

Business Goals

Define what is your Business Goal
MARKETING
Increase traffic to your site
Improve brand positioning (have more people talk about the brand)
Reach a new customer segment
Set a new marketing message (new positioning, new marketing campaign)
Set a communication media with customers
You can have one major goal or multiple goals depending on your business issues. Vanina Delobelle

PRODUCT
Gather customer feedback about products
Set up user testing
Build a customer service
Launch customer surveys
Do market research and competition analysis
Vanina Delobelle

SALES
Increase customer satisfaction
Increase number of recurring sales
Increase lead generation
Open a new sales channel
Reach a new customer segment
Vanina Delobelle

CORPORATE
Hire talents
Increase employee retention
Improve internal knowledge sharing
Increase internal communication
Vanina Delobelle

Market Segmentation

Know who your customers are Segment precisely your customers as this is the beginning of successful ROI with Social Media. Because you will know your customer, you will be able to set up the most appropriate campaign and target the most relevant media. Vanina Delobelle

Know who your customers are
Socio-demographics data
Usages (psychological data)
Communication channels
Expectations in term of sales and messages
How do they perceive ads
What are their social graphs (how do they link to each other)
Purchasing decision cycle
Who do they partner with
Vanina Delobelle

Campaign Definition

Define the right campaign
Define the messages
Define the tone
Define the formats (video, ads…)
Define the degree of virality (some formats will be more appropriate than others for a pure viral campaing)
Pick the partners you want to work with
Define your budget
Define your timeline
Vanina Delobelle

Social Media Selection

Select the right media for you Not all the Social Media will be successful for you ! And one of the last thing you want to is be like everybody… Vanina Delobelle

Select the right media for you - Examples
You want to launch a new fashion product targeting 20-35 years old women. Your business goal is to position the marketing message and trigger the first sales…which social media could you select ?
Blogs
YouTube
Viral campaign on Facebook with a social game
Twitt contests for the product on your current corporate account…
Vanina Delobelle

You offer a BtoB product targeting big corporations and you want to increase customer satisfaction and generate more sales with your installed base… which social media could you select ?
Webinars
Forums for tips
Online advisory boards
Virtual fairs where customers can meet and talk to each others
Slideshare to present new products…
Vanina Delobelle

You acquired a new company and you want to spread the message that you now have new offers in your porfolio… which social media could you select ?
Blogs
Twitter
Slideshare
Wikipedia…
Vanina Delobelle

Allocate Resources

Allocate the right resources Social Media require resources to create the content and keep your communities active. Vanina Delobelle

Allocate the right resources
Think thoroughly to build a team to deal with social media
Social Media does not happen by magic, it requires people who know what they are talking about and not only social media users
Identify internally who are already the best people to talk about your company and set up a pod gathering these people
Work with partners who can leverage your brand and others who can create valuable content
Vanina Delobelle

Results Measurement

Measure the results Yes ROI exists for Social Media ! Depending on your business goal you can assess if you reached your target. Different measures will be used. Vanina Delobelle

Measure the results
TRAFFIC
Number of views
Number of unique visitors
Number of returning visitors
Drop rate
Location of the users
Time spent on the site…
Vanina Delobelle

Measure the results
BRANDING
Number of external links
Number of conversations about the brand
Quality of the conversations
Number of active users in the community…
Vanina Delobelle

Measure the results
CUSTOMER SATISFACTION
Recurring sales
Number of customers willing to talk in your favor in conferences for example
Number of user feedbacks for new products generation and product testing
New revenues generated on a new segment…
Vanina Delobelle

Measure the results
INTERNAL PROCESSES
Number of qualified candidates you reached
Employees turnover
Employees satisfaction (do a survey to know about it)
Increase in productivity (timelines met, conflicts decreased…)…
Vanina Delobelle

For more conversations… Twitter.com/vaninadelobelle

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How To Measure ROI For Social Media

by Vanina Delobelle

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