Social Media ROI - It Can Be Measured

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Calculating ROI in Social Media can be challenging but it can be done. This video provides some insights on how to calculate ROI for social Media campaigns. Social Media returns can be defined, you just need to think it through.

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Social Media ROI - It Can Be Measured

  1. 1. CALCULATING ROI IN SOCIAL MEDIA
  2. 2. What is ROI and how the are you going to measure
  3. 3. return on investment –noun the amount of profit, before tax and after depreciation, from an investment made, usually expressed as a percentage of the original total cost invested. Abbreviation: ROI ROI
  4. 4. (gain from investment – cost of investment) cost of investment ROI=
  5. 5. Sounds simple, right?
  6. 6. Actually, it’s a little more difficult…
  7. 7. You cannot succeed in anything if success is never defined.
  8. 8. Success is definable and attainable
  9. 9. What’s the return you seek?
  10. 10. Drive Sales ….then return is the number of sales that you can attribute to your social media campaign
  11. 11. Drive customer insights ….then return is the quantity and quality of the consumer insights you get from your fans and followers.
  12. 12. Drive brand awareness ….then return is brand awareness
  13. 13. Social media return is the value that you derive from social media based on the goals of your campaign.
  14. 14. Quantifying Your Return Counting What Counts
  15. 15. … Developing a method for dollar quantification can be hard.. but not impossible…….
  16. 16. Measuring Sales I’m going to assume you know how to measure sales already
  17. 17. Quantifying consumer insights compare the quantity and quality of consumer insights from offline focus groups to consumer insights from your social media campaign
  18. 18. Quantifying brand awareness Conduct surveys, polls, reach out to your customers and place values on the responses.
  19. 19. You can’t quantify your return….. … until you’ve defined what you’re measuring … and how you’re measuring it
  20. 20. Social Media Is Free! NOT EXACTLY……
  21. 21. Just create a Facebook page……. and people will follow right?? WRONG!
  22. 22. additional cost factors to consider…..
  23. 23. staff costs campaign manager support team design team
  24. 24. advertising costs Ad words, Follow Buttons, Facebook Ads, Email campaigns…..
  25. 25. content creation, external costs outsourcing costs
  26. 26. analytics tools, additional tools … technical & creative costs
  27. 27. Now that you have your values….. Plug them into your ROI formula
  28. 28. Now compare your campaign returns Against your print, radio and other campaigns
  29. 29. ROI is the most powerful tool in your toolbox USE IT WISELY
  30. 30. THANK YOU FOR YOUR TIME kevin@yoursocialmediacompany.com facebook.com/yoursocialmediacompany twitter.com/ursocialmediaco youtube.com/yoursocialmediacom Kgorsline 843.732.0234 781.357.7697
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