Tallinn Socialfest 2012 - Petri Mertanen

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HOW TO MEASURE THE EFFECT OF SOCIAL MEDIA MARKETING ON YOUR BUSINESS?

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Tallinn Socialfest 2012 - Petri Mertanen

  1. 1. How to measure the effect ofSocial Media Marketing on your business? @mertanen #socialfest2012
  2. 2. Simple formula Sales? Growth of sales? Margin? Customer life time value? Other? Gain from investment – cost of investmentROI = Cost of investment Cost of work? + Cost of media? + Cost of agency? + Cost of tools?
  3. 3. What is the ROI of your relationships? Source: http://www.flickr.com/photos/xavivix/5917616223/
  4. 4. Social Marketing
  5. 5. Customer Relationship Management Source: http://www.flickr.com/photos/english106/4357529719/
  6. 6. BroadcastingSource: http://www.flickr.com/photos/rodrigobasaure/593942499/
  7. 7. She likes it!
  8. 8. It’s all about salesSource: http://www.flickr.com/photos/68751915@N05/6551534889/
  9. 9. Internet has always been social
  10. 10. Everything is social
  11. 11. Everything is social
  12. 12. Everything is social
  13. 13. http://www.flickr.com/photos/nslashdot/5074635716/
  14. 14. Advertising doesn’t equal marketing
  15. 15. Marketing as a whole
  16. 16. Measuring framework http://www.flickr.com/photos/kazk/198640938/
  17. 17. Measuring framework1. Purpose. What are we trying to achieve? Different point of views.  Product / service development  Processes (delivery, marketing etc.)  People (customers, partners, personel, recruiting)  Promotion = sales  Pricing
  18. 18. Measuring framework2. Goals  We are creating more development ideas and new innovations  We are improving our delivery and marketing processes  We are activating people, including our customers, partners and staff  We are growing our sales in different sales channels  We are trying to improve our profit by testing different kind of pricing
  19. 19. Measuring framework3. Key performance indicators about product, processes & people  Number of new development ideas and innovations (by channel, e.g. Facebook)  Number of feedback regarding to our current products / services  Quality and the tone of voice from customers  Task completion rate (by channel)  Number of recommendations (yes, likes too)  Number of product / service evaluations  Number of complaints regarding to our delivery process  Number of posts (by channel, by content type)  Number of fans, followers, subscribers (by channel)  Number of people involved
  20. 20. Measuring framework3. Key performance indicators about pricing & promotion  Number of promotions (by channel, by content type)  Number of reach: visits, fans, followers, subscribers etc. (by channel)  Engagement (bounce rate, number of shares, retweets etc.)  Number of pricing tests (by channel)  Sales, growth of sales, sales margin (by channel)  Return on investment  Return on ad spent
  21. 21. So what test?Source: http://www.kaushik.net/avinash/kill-useless-web-metrics-apply-so-what-test/
  22. 22. Continuous action model1. Analysis2. Decisions3. Action!
  23. 23. Asking the right questions
  24. 24. "Not everything that can be counted counts,and not everything that counts can be counted."  Source: http://www.flickr.com/photos/mansionwb/3585890288/
  25. 25. Measuring, analyzing and optimizing and changing marketing to make results. Petri Mertanen Senior Designer Marketing Analytics Mobile: +358 400 792 616 Email: petri.mertanen@zeeland.fi www: http://zeeland.fi

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