Types of Returns from    Social Media             www.42inception.com
TwoDimensions of Measurement   Returns          What “Returns” did you get?                     How much of “Returns” can ...
Guidelines: Outline the results• Measuring returns has nothing to do with  Social Media• Think comprehensively• Account fo...
Types of Returns    Tangible                                IntangibleA clear & direct metric                  At most an ...
Leverage Digital Marketing for Incredible Growth?            Our Training is a click away!                www.42inception....
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Guidelines to Measure Returns from Social Media

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Hope you enjoy this deck on 'Guidelines to Measure Returns from Social Media'. Care about Social Media Marketing for incredible Business Growth? You may want to take advantage of our hands-on Advanced Facebook Marketing training. We are just a click away - http://www.42inception.com

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  • Types of Returns from Social Media
  • When we talk about measuring the ROI of Social Media, we are really talking about three things.First is to measure the returns that you are getting. Measuring returns has nothing to do with Social Media. If you call “Sales” as your return, you should be able to measure “Sales” whether you used Social Media or not.The second part is of primary interest to us here. It is to find out “what percentage of your total returns came from Social Media”. For example, if you sold 100 product units, how many out of these 100 were sold through Social Media? Or if you generated a total of 40 leads in last month, how many were generated through Social Media? This is called “Attribution”. You are attributing your returns to your investment in Social Media.In this lesson, we’ll take a high level view of type of returns you can expect out of Social Media
  • Let me share some of the guidelines you should follow while outlining the results from social media. Most of the time measuring returns has nothing to do with Social Media. If you call “Sales” as your return, you should be able to measure “Sales” whether you used Social Media or not. In case you are looking for Customer Satisfaction. Irrespective of social Media you will have to create ways to assess the satisfaction level. Even when the objective is to increase brand awareness, you can either escape with the excuse "Oh, that's just a branding campaign." Or you can decide on the results parameters based on the results you were expecting at the end of the campaign be it attracting customers, increasing brand recall or improving brand recognition.Also, through Social media you might not can get immediate returns, but potential returns for future. If you have built relationship with people on Social Media, you are likely to keep getting returns in future with close to zero further investment. And it’s important to look at complete life cycle of the implementation. And the final part is measuring the potential returns that you can get from Social Media in future. If you have built relationship with people on Social Media, you are likely to keep getting returns in future with close to zero further investment. And it’s important to look at that potential.
  • Now, Let’s look at type of returns you can expect. Returns can be roughly be classified in two categories: tangible and intangible.Examples of tangible returns are number of product units that you sold, or the total number of leads that you generated or the number of unique visitors you got on your website. Tangible returns have a very clear metric and they can be measured directly.On the other hand, intangible returns are hard to measure. Examples of intangible returns are reputation, customer satisfaction, brand awareness, customer loyalty. There is no exact number that will tell you “customer satisfaction”. For intangible returns, you have go for indicative metrics. For example, for measuring customer satisfaction, you can run a survey with your customers from time to time and ask them their satisfaction level. Or you can measure how many customer discontinue business with you over a period of time. Or you can measure how many customers you get through the reference of existing customers. Or you can combine all these various metrics and create a unified metric out of them.The point is that there is no direct method to measure intangible returns. Which means, you need to measure what’s possible to measure and gives you an “indication” of where you stand.And what’s the most important point here? Did you catch that? Measuring returns has nothing to do with “how you got the returns”. You could have got your sales through TVC or social media or SEO or referral or whatever. Total number of units that you sold is still the same.The second part is of primary interest to us here. That is “attribution”. It is to find out “what percentage of your total returns came from Social Media”. Let me go through the lesson on Attribution to find out further details about it.
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  • Guidelines to Measure Returns from Social Media

    1. 1. Types of Returns from Social Media www.42inception.com
    2. 2. TwoDimensions of Measurement Returns What “Returns” did you get? How much of “Returns” can be Attribution “Attributed” to the investment? www.42inception.com
    3. 3. Guidelines: Outline the results• Measuring returns has nothing to do with Social Media• Think comprehensively• Account for potential returns for future www.42inception.com
    4. 4. Types of Returns Tangible IntangibleA clear & direct metric At most an indicative metricUnits Sold, Leads Generated, Brand Awareness, Reputation,Total Registrations, Referral Customer Satisfaction, CustomerTraffic LoyaltyExamples: Examples:•Number of product units sold •Reputation•Leads •Customer satisfaction•Unique visitors •Brand awareness •Customer loyalty www.42inception.com
    5. 5. Leverage Digital Marketing for Incredible Growth? Our Training is a click away! www.42inception.com www.42inception.com

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