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The ROI of your communications

Presented to the the Ragan Communications' "Best Practices in Public Relations Conference" on Dec 1, 2011 at the Kaiser Permanente Center for Public Health in Washington, DC.

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The ROI of your communications

  1. 1. Measuring the ROI of yourcommunications plan 1
  2. 2. About me • Director, Digital Marketing and Communications, Inova Health System • Six hospital not-for-profit system serving the Washington DC area • Advisory Board Member, Mayo Clinic Center for Social Media • Worked for more than 100 hospitals/ physician practices 2
  3. 3. People generally don’t care(or pay attention) 3
  4. 4. Continuum of “I-Don’t-Care” Don’t Care Care somewhat Care deeply (not engaged) (kinda engaged) g Op inions S harin esearching R iscovering D 4
  5. 5. Social media help establish relevanceBuilding trust throughout the “Continuum of I-Don’t-Care”Facebook Gowalla Forums Twitter Flickr SMM UStream Yelp! Digg SlideShare LinkedIn Local Angie’s List Tumblr Amplify Listings Microsites g Op inions Foursquare User S harin Groups YouTube esear ching BlogsR iscovering D 5
  6. 6. New communication equation People generally don’t care (or pay attention) + Forced to do more with less 6
  7. 7. 7
  8. 8. New communication equation People generally don’t care (or pay attention) + Forced to do more with less + Traditional communication efforts aren’t working 8
  9. 9. http://www.voltierdigital.com/wp-content/uploads/2011/11/Inbound-Marketing-Rising.png 9
  10. 10. New communication equation People generally don’t care (or pay attention) + Forced to do more with less + Traditional communication efforts aren’t working + Social media has changed everything 10
  11. 11. Quick poll...How many of you have or use..? 11
  12. 12. You are not alone: • 1/13 people on Earth • 700 million users • 2nd largest search engine • 15 min/day on average • 13% of all online adults • Doubled in use over past year • 44 million users in US • 17.8 million users in Groups 12
  13. 13. New communication equation People don’t care (or pay attention) + Forced to do more with less + Traditional communication efforts aren’t working + Social media has changed everything ----------------------------------------------------------- = We have to do things differently 13
  14. 14. Social media shouldn’t force us to be transparent... We should. 14
  15. 15. The cornerstone = Trust 15
  16. 16. Social networks andcommunication mediums are how we connect. Topics of interest are why we connect. 16
  17. 17. 17
  18. 18. MyHealthybaby.org • 1200 clicked on “Find a Doctor” • 1500 clicked on other call to actions 18
  19. 19. Why should we measure? "To measure is to know." “If you can not measure it, you can not improve it.”Lord William Thompson Kelvin 19
  20. 20. What can (or do) you measure?• Media placements and impressions• Readership/viewership• Friends, fans & followers• Reach, relationship & reputation• Strength, sentiment & passion• Word of mouth Where’s the beef (ROI)? 20
  21. 21. Is ROI truly “ROI”?• Return on Results (ROR)• Return on Opportunity (ROO)• Return on Engagement (ROE)• Return on Participation (ROP)• Return on Attention (ROA)• Return on Trust (ROT) 21
  22. 22. ROI should always be tied to $$$“Social Media ROI reflects any other marketing-related ROI:the net financial revenue to the organization from the effort,after having accounted for the efforts costs. FI-NAN-CIALmoneydoughbottom linecoinor, as I like to call it,ROI”- Chris Bevolo (www.ChrisBevolo.com) 22
  23. 23. ROI = (financial gain/savings - cost) cost 23
  24. 24. Contrary topopular belief,there is ROI in everything 24
  25. 25. If you’re notimpacting oneof these... ...why bother? 25
  26. 26. Driving growth• Identify key growth drivers• Target “communities of interest” around these growth areas• Use strong call-to-actions that you can measure• Drive activity to conversions• Tie all activity to financial measurements 26
  27. 27. Promoting weightloss via Facebook• Identify Facebook audience in No.VA interested in weight-loss• Create two ads promoting bariatric seminars• Direct ads to landing page• $479 monthly spend 27
  28. 28. The results: • Over three month period: 296 clicks/month • .03 CTR (average CTR for Facebook PPC is .02) • $1.62/click • 30 seminar registrations • 23% seminar registration/surgery conversion rate • Average $3,000 contribution margin from surgery • $20,700 profit originated from campaign • $1,437 spend over 3 mo’s 28
  29. 29. Calculating ROI 29
  30. 30. Wait a second... you didn’t tell me therewas going to be any math! 30
  31. 31. Lowering marketing/communicationcosts• Aggregate and populate (“be everywhere”)• Train spokespeople on social media best-practices• Train social media staff on media handling• Remember: communications is different than marketing• Emphasize story-telling• Gather stories from customers; encourage them to share 31
  32. 32. Viral promotion of back pain lecture • Dec 2010 – Back Pain lecture held by Spine Surgeon • Event live-streamed and live-tweeted • Watched by over 200 viewers online • 200K impressions 32
  33. 33. AVE (Advertising Value Equation) We cant show substantive correlation between AVE and how much is earned – let alone the impact on customer behavior. 33
  34. 34. Viral promotion of back pain lecture Potential ROI calculation:• Total reach of the program: 200K impressions • 10% of actual audience will see the message*: 20,000 people • 20% of those seeing the message will find it relevant*: 4,000 • 10% of those finding it relevant will want to learn more*: 400• 10% of those with interest will have surgery: 40• Average contribution margin for spine surgery/rehab: $20,000• Total cost to promote program: fixed (let’s say $2000)* Assumptions from historic patterns or industry-accepted response rates 34
  35. 35. Another way to measure this...• Live-stream tweet of the lecture, Dec 2010 35
  36. 36. Another way to measure this... • Jun 2011: What’s the ROI of a tweet? 36
  37. 37. Increasing satisfaction & loyalty• Provide relevant information to “non-consumers”• Use for crisis management & service recovery• Educate and act transparently• Create relevant campaigns/programs (i.e. wellness)• Use a customer relationship management database• Measure overall increase in revenue (correlation vs. causation) 37
  38. 38. “Someone just stole a baby from Fairfax hospital.WTF is wrong with people.” 38
  39. 39. Using social media to promote wellness• 7,300 registrants• 575 Facebook followers• 5,000 updated CRM records (2,300 entirely new records)• 500 cross-promoted into other eNewsletter programs 39
  40. 40. Revenue through FitFor50• 325 participants to enroll in fundraising fitness run (ROI: $20 x 325 = $6500)• Life-to-date utilization (contribution margin): • “New” patients: $38,000 • “Former” patients: $274,000 • Total: $305,600 Correlated vs. Causal ROI 40
  41. 41. Other ways to create interest www.inovaheart.org 41
  42. 42. Other ways to create interest • 9,374 recipients/2,047 opens • 55 (20.9%) clicks were in the FAQ section about the price of the vaccine • 68 (25.9%) clicks were in the FAQ section to find out where to get the shot • 28 (10.6%) clicks were in the FAQ section asking who should receive the vaccine • 22 (8.4%) clicks were in the FAQ section to read more FAQs • 38 (14.4%) clicks were on the big red find a clinic button • 21 (8%) clicks were on the big blue button with the phone number and “click for more info” language • 9 (3.4%) clicks were to sign up for e-newsletters “Fight the Flu” • 7 (2.7%) clicks were to find an Inova physician email • 9 (3.4%) clicks were to attend an Inova fitness class 42
  43. 43. Measuring engagement with a CustomerRelationship Management (CRM) database 43
  44. 44. CRM myths & fears ... “exposed”• Building brand and loyalty is enough• We don’t have a CRM system, so I can’t measure• Math scares me• If we measure we might find we’re not doing too well• Measuring patient (customer) behavior is creepy 44
  45. 45. “Silver bullets” to ensure success• Build trust by being relevant• Determine what to measure (hint: think $$)• Create regular reports• Promote successes; learn from failures• There are no silver bullets 45
  46. 46. Questions? Chris Boyer @chrisboyer www.christopherboyer.com @InovaHealth www.inova.org/socialmedia 46
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Presented to the the Ragan Communications' "Best Practices in Public Relations Conference" on Dec 1, 2011 at the Kaiser Permanente Center for Public Health in Washington, DC.

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