How to Prove your Brand's Social Media ROI


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Return on investment is something everyone understands. How to speak your company's language when it comes to social media.

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How to Prove your Brand's Social Media ROI

  1. 1. How To Prove Your Brand’s Social Media ROI
  2. 2. Social media is a big component in a marketer’s toolbox:
  3. 3. It can accomplish objectives and take businesses far.
  4. 4. So, why is it so hard to understand Social Media ROI?
  5. 5. As a social media marketer, you know things like: LIKES SHARES FOLLOWERS MENTIONS RETWEETS are good ways to measure success online.
  6. 6. But your company’s executives and decision makers CAN’T UNDERSTAND YOU!
  7. 7. They understand words like: SALES COST REVENUE
  8. 8. Nichole Kelly, author of How to Measure Social Media, says these different languages, or “metrics,” don’t blend well.
  9. 9. It’s time to speak the same language.!
  10. 10. As a social-savvy business person, you should be able to communicate how social media is accomplishing overall company objectives in a way that is understandable to the entire company.
  11. 11. Here’s 2 steps to translate SOCIAL metrics into BUSINESS metrics:
  12. 12. Here’s how to translate SOCIAL METRICS into BUSINESS METRICS
  13. 13. You’re already aware of the Sales Funnel: Brand Awareness Lead Generation Customer Acquisition Customer Retention (Repeat)
  14. 14. a.  Brand Awareness In social media, brand awareness is demonstrated by Impressions and Engagement (Facebook fans or Twitter followers). These prospects sit at the TOP of the sales funnel.
  15. 15. b. Lead Generation This is measured by Leads and Content Conversions (content downloads, webinar attendees, email opt-ins). These leads sit in the MIDDLE of the funnel.
  16. 16. c. Customer Acquisition After using social media and content marketing, you have built a relationship with leads based on trust and problem solving ability (proven expertise/credibility, useful resources). These customers sit at the BOTTOM of the funnel.
  17. 17. d. Customer Retention These consumers have given you their business, now you can keep them happy with continued social media engagement. These customers RETURN TO THE TOP of the funnel to repeat the process.
  18. 18. Social media can be very effective at moving customers through the sales funnel. Assure the rest of your company that social media is Getting New Leads and Converting Them into SALES …everyone can understand and appreciate that.
  19. 19. "#$! "%$! "&$!
  20. 20. In order to effectively communicate the progress that your company is making, it may be helpful to explain the subtle differences between social media strategy and traditional marketing to the executives of your company:
  21. 21. If you’re trying to get leads through social media, it’s important to know the difference between Soft leads and HARD LEADS.
  22. 22. Soft leads are interested in you and they might have given you their email address in exchange for valuable content.
  23. 23. HARD LEADS are qualified prospects that are well on their way to becoming a customer.
  24. 24. You can get soft leads through social media, but you will usually need an email marketing channel to convert them into HARD LEADS.
  25. 25. Social media is for lead nurturing, but usually not for selling.
  26. 26. Social media should be more focused on building relationships, providing valuable resources, and establishing credibility as a thought leader.
  27. 27. Saying “LOOK AT ME!” or “BUY MY PRODUCT!” WILL NOT WORK
  28. 28. Try to avoid pushing your product, and instead, focus on creating good content that moves your consumers through the sales funnel.
  29. 29. As marketing or sales managers, you will want to know the cost and value of social media leads.
  30. 30. Cost can be measured by the cost per impression or cost per lead.
  31. 31. Value can be measured by how long it takes for the lead to purchase, how much they have purchased, and how many more times they have purchased.
  32. 32. Usually, leads acquired through social media are much less costly to your organization. That makes executives happy.
  33. 33. Using these types of metrics will help your company understand the value of social media.
  34. 34. It’s easy to understand the ROI of your social media campaign if you work with marketers who can communicate the value of social media by explaining how specified business objectives were met through social efforts.
  35. 35. Where can you find these marketing experts who understand your business and can leverage social media to accomplish your organization’s goals?
  36. 36. Want to know more about communicating your brand’s social media ROI? Read the full article here. ParkerWhite crafts strategic marketing & branding to create meaningful connections between consumers & brands for health, wellness & active lifestyle companies. To learn more about ParkerWhite, visit www.parkerwhitecom