ROI of Social Media


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ROI of Social Media

  1. 1. You’ve Created a Social Media Campaign — Now What? Measuring the success of social media
  2. 2. Who is Really Using Social Media? As of February 2012, 66% of online adults use social networking sites.  83% of people between the ages of 18-29 use social media  70% of people between the ages of 30-49  51% of people between the ages of 50-64  33% of people 65+ 95% of all teens ages 12-17 are now online and 80% of those online teens are users of social media sites Household income of adults using social media:  Less than $30,000 – 71%  $30,000 - $49,999 – 69%  $50,000 - $74,999 – 60%  $75,000+ – 69% 43% of all adult internet users were on a social media site yesterday
  3. 3. Marketing Charts Survey Results 100% of the US respondents reported using a form of social media- 95% used Facebook and 62% used Twitter 78% of the US respondents reported that posts businesses they follow on social media have had a moderate to highly influential effect on their purchase decisions 81% said that their friends’ posts influence their decisions 60% of the US respondents gather information or opinions about businesses from friends posts on social media sites 76% of US respondents regularly like the Facebook page of businesses  79% do so to take advantage of discounts and other incentives  70% followed by seeing details on sales and events  Of the 76% that regularly like Facebook pages, 46% indicated that they also followed those businesses on Twitter
  4. 4. Brand Focused vs Social Media Focused Brand Focused VS Social Media Focused Brands telling their story Joining a conversation Carefully defined and controlled Consumers defining your brand Being perfect Being genuine
  5. 5. Brand Focused vs Social Media Focused “Yes, it generated 2 MM impressions, 400 leads and 50 sales, but it has the wrong color blue in the logo.”
  6. 6. The Preacher vs The Cab Driver
  7. 7. Implementing Social Media Campaigns Successfully
  8. 8. Clear Goals Can’t measure “more buzz” Define measurable metrics – 16 media placements, 40 relevant links, increase sales 12% Take baseline metrics before campaign starts  SEO metrics, Social Media metrics Break metrics down into quantifiable goals  Mentions in blogs, social networks, links to the site… You can quantify metrics
  9. 9. Determine the Hook Set goals before determining the “hook” Questionnaire to determine need – What gets the participants excited Examples: Free sample, white paper, video, online calculator/application, stunt
  10. 10. Determine Distribution Plan Earn your way into distribution Avoid word “Free” Look for specialized networks or “celebrity” bloggers that don’t often get pitched Rate the value of each participant and determine the pitch
  11. 11. Approaches toMeasuring ROI for Social Media Campaigns
  12. 12. The David Meerman Scott Approach What is the ROI of putting your pants on?
  13. 13. The Analytical Approach
  14. 14. The “We Know It Works”
  15. 15. The Webbed Marketing Scorecard
  16. 16. The Webbed Marketing Scorecard Tracks “micro goals” that funnel into strategic goals In bound links, blog mentions, presence on social networks, traffic numbers, web mentions and other measurable metrics funnel into strategic goals Provide real evidence of measurable improvement Provide direction on where to focus efforts
  17. 17. Spiderfly Marketing Communications & Customer Service: How do I identify individual influencers and also aggregate volume, demographics, tonality and velocity of social media? Internet Marketing Team: How do I diagnose key social media and search metrics for my website and my competitors’ sites? Public Relations: What is my real time blogger buzz, and how does that benchmark against my historical performance and competitors? CEO: Just give me one number!
  18. 18. Spiderfly
  19. 19. Spiderfly
  20. 20. Diagnostics
  21. 21. Just Give Me A Number
  22. 22. An ROI CalculatorMetric Value Spend Social Media Results Total Value ROIImpressions (CPM) $12 100000 $ 1,200Leads $ 400 40 $ 16,000Sales $3,000 7 $ 21,000Total $10,000 $ 38,200 282%
  23. 23. Case Study
  24. 24.
  25. 25. Summary Focus on the goal first Define the end consumer, think beyond the buyer Determine a compelling message Don’t pre-determine channel and creative Measure, measure, measure
  26. 26. Be The Cab Driver!
  27. 27. Take Aways Listening is more important than talking Don’t think about numbers for the sake of numbers, correlate numbers to business objectives Influence the influencers Join the conversation; remember it’s a dialogue, not a monologue!
  28. 28. Bill Balderaz Fathom @bbalderaz
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