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SMCHI - Social Media Analytics Road Map

Social media analytics and ROI is attainable. Here's a presentation I did at Social Media Club Hawaii (SMCHI) on the topic.

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SMCHI - Social Media Analytics Road Map

  1. 1. UnderstandingSocial Media Measurement: A Road Map Tara Coomans @TaraCoomans #akamaimkting
  2. 2. • How to measure Social Media• What to measure in Social Media• A sample ROI model
  3. 3. ROIData
  4. 4. Measurement: ROI: KPIs DollarsAre your tactics working? Are dollars well spent?Are you spending time in Should you spend morethe right place? or less? P R E P
  5. 5. The Marketing Bus P Social Media R E P
  6. 6. Baseline Goals•Competency •Key Performance Indicators•Measurements •ROI Key Tools •Website •Google Analytics •Email List •Content •Audience Reach P R E P
  7. 7. Biz Goal Identify the business objectives: SMART Social How does social media marketing GOAL support objectives? KPI’s How you will measure success or failure of initiatives?Execution Which social platforms support your P R goals? E P
  8. 8. What You Measure, Depends on Your Destination. B I Z G O A L SGrow brand awareness Reduce Cust. Serv. CostsCreate community Increase web trafficIncrease reach Increase sales
  9. 9. Loyalty S Brand Increased leads M Community Awareness G O A L S Visits, Views, Followers, Fans,Exposure Subscribers, Reach, Mentions
  10. 10. S Brand M Awareness G O A L SInfluence Share of voice, Sentiment, Key Influencers, Klout, Peer Index
  11. 11. Increased Increased Cust Serv web traffic Community Cost sales S M G O A Clicks, RT, Shares, @Replies, LEngagement Comments, Likes, Photo Views S
  12. 12. Increased Increased sales leads S M G Downloads, Webinar O Action/ A Attendees, Lead Generation LConversion Forms, Call to Action S
  13. 13. revenue INCREASED per SALES follower#followers + #fans + #subscribers revenue K P I
  14. 14. conversion of INCREASEDsm followers SALES #downloads + #webinars + lead generation from SM #downloads + #webinars +lead generation from other sources K P I
  15. 15. Brand Awareness, Conversions,Reach, LeadsCommunity, Engagement, Reach,Leads, Web TrafficCommunity, Engagement, Leads, eInfluence x e c uCommunity, Engagement, t iAwareness o n
  16. 16. Data ROI
  17. 17. ROI SAMPLE CASE STUDY: Menu Launch• Invite 10 Food Bloggers, local and national to review• Choose variety of writers and photographers, write a minimum of 2 posts.• Articles are written about the menu launch in local pubs as a result of blogger attention.• Bloggers also post on Facebook & Twitter
  18. 18. ROI: Influencer Program CostsSet Up Social Media Assets Market ValueInstall & Customize of Platforms (blog, Twitter, Facebook, $5,000Flickr, gmail)Training of Personnel $3,150Social Media Monitoring $4,375Social Media Consulting / Campaign Strategy / Producer $10,000CostsFinal Report and Data Analysis $2,500Cost of Content Creation $10,000Cost of brand-owned content creation $5,000 $40,025
  19. 19. ROI: Incoming Clicks EXAMPLE: •2500 New Visitors •500 Using Desired Keyword Term • Average CPC . 35 CPC Value: $875
  20. 20. ROI: Increased RevenuesEXAMPLE:•Average check increase of $2.00/check•Increased traffic by 10 people/day•Reservation rate up 20%•Reservations spend up to 10% more•Revenue Increase: $5,000 during 30 day campaign
  21. 21. ROI: PR ValueEXAMPLE:•25 Blog Posts, local & regional•1 Article in NonStop Honolulu•1 Article in Honolulu Weekly PR Value: $39, 750
  22. 22. ROI: Word-of-Mouth ValueMeasuring:Value of conversation & actions, reach insocial outlets from food blogger fans Based on: •Trust Factor •Relevance Factor •Quantity WOM Value: $55,750
  23. 23. ROI Cost of Social Media Program Value of Incoming Traffic+ PR Value + Word of Mouth Value + Product Development (savings) + Customer Service (savings) +Increase in Revenue (or other strategic goals) during campaign
  24. 24. TOTAL ROI$40,025 = 39%$101,375
  25. 25. Social Media Metrics & ROI are different:• Done for different reasons• Run on different “fuels” kKeys for tracking social media success: e y•Preparation t a•Creating KPI’s that suit Business Goals k e a w a y s
  26. 26. Social Media ROIModels should •Public Relationsrepresent the various •Word-of-Mouthbusiness areas that •Salesare impacted by •Customer Service k esocial media. •Product Development y t a k e a w a y s
  27. 27. Thank You!Join me online for more resources and conversation: @taracoomans