BMA Chicago


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Breakfast presentation at BMA Chicago speaking on understanding and measuring the value of social media marketing efforts.

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BMA Chicago

  1. 1. PREPARED FOR May 18, 2011 © copyright 2011 [wire] stone, llc. All Rights Reserved.
  2. 2. Social Marketing Strategist@lukasquanstrom
  3. 3. WHO ARE YOU? +  Agency? +  Client? +  Currently using a social medium for business? +  DO measurement? +  Need someone to tell me what the heck to measure and why it matters and then please freaking do it for me at a reasonable fee and please help me show off all the value I’ve created to my key stakeholders. Dec-20-11 3
  4. 4. *eConsultancy 2011 Dec-20-11 5
  5. 5. *eConsultancy 2011 Dec-20-11 6
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  8. 8. PSST.. +  It’s not just about sales +  There’s not just one data point. +  ROI is bigger than a single number Dec-20-11 10
  9. 9. PSST.. +  It’s not just about sales +  There’s not just one data point. +  ROI is bigger than a single number Dec-20-11 11
  10. 10. In finance, rate of return (ROR), also known as returnon investment (ROI), rate of profit or sometimes justreturn, is the ratio of money gained or lost (whetherrealized or unrealized) on an investment relative to theamount of money invested. The amount of money gainedor lost may be referred to as interest, profit/loss, gain/loss, or net income/loss. The money invested may bereferred to as the asset, capital, principal, or thecost basis of the investment. ROI is usually expressed asa percentage. Dec-20-11 12
  11. 11. LET’S DEFINE IT LET’S DEFINE VALUE +  Value of a “fan” –  Who is it? –  What do they do? –  How much of it? –  Why? +  Assigning value to a “fan” is problematic +  It’s what you do with that fan that matters Dec-20-11 13
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  13. 13. Business Objectives What are you trying to accomplish? Strategy & Tactics How will you achieve the objective? Key Performance Indicators What measures of success are tied to the tactics? Tracking RequirementsWhat tracking mechanisms are required to feed and augment the KPIs? Dec-20-11 15
  14. 14. Business Objective KPIs Volume of mentions – Total number of branded conversations Impressions – Total number of people that view a specific piece of content Subscriptions – Total number of subscriptions to the blogAwareness Referring sites – Total number of referring sites Share of voice vs. competitors – Percentage of branded conversations relative to competitors Number of fans/followers – Total number of community members Dec-20-11 16
  15. 15. Business Objective KPIs Interactions – Includes total number of comments, likes, wall posts, and photo views Weekly Active Users – 7 day average of the number of unique people interacting with the propertyEngagement Content Acquisition – The number of times content is downloaded/consumed Average Time On-Site – The average length spent on site Dec-20-11 17
  16. 16. Business Objective KPIs Response Rates– Total number of redeemed offers Increase in Average Spend – Share of wallet relative to non-fan Loyalty – Total number of increased return rateAction Conversion– Sales by channel Other costs eliminated– Savings from call center volume, conference fees, Dec-20-11 18
  17. 17. Business Objective KPIs Number of advocates– Total number of content generators Sharing – Total number of people that share a specific piece of content Social Promoter Score – Percentage likely to recommendAdvocacy to a friend Sentiment– Ratio of positive, neutral and negative comments as a determination of SPS Earned Media – Advertising equivalent of social media mentions as an equivalent of paid media impressions Dec-20-11 19
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