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Beth Harte / Social South 2009: Social Media Planning & Measurement

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Social South 2009 presentation on social media planning and measurement as presented by Beth Harte, Community Manager, MarketingProfs

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Beth Harte / Social South 2009: Social Media Planning & Measurement

  1. 1. Social Media Planning & Measurement: Proving (or not) the Value of Social Media Beth Harte Community Manager, MarketingProfs @bethharte
  2. 2. Why Measurement is Important
  3. 3. The silver bullet myth Image source: realestatedementia.com/
  4. 4. Are you ready for hard work? Image source: http://imagecache2.allposters.com/images/JAG/03-PS35-6.jpg
  5. 5. Politics will always exist Image source: http://www.cartoonstock.com/newscartoons/cartoonists/tcr/lowres/tcrn92l.jpg
  6. 6. Image source: clarinet-now.com Tactics without a plan...
  7. 7. Don’t think you need a plan? Image Source: www.bulldogblog.net/articles/wp-content/uploads/2009/02/money.jpg
  8. 8. With a plan... Image source: clarinet-now.com
  9. 9. How to write a measurable plan
  10. 10. The Plan: <ul><li>Goal </li></ul><ul><li>Measurable Objectives </li></ul><ul><li>Strategy </li></ul><ul><li>Tactics </li></ul>
  11. 11. What is a goal? <ul><li>What do you hope to gain by engaging in social media? </li></ul><ul><li>Does your goal fit into the overall corporate goal? </li></ul><ul><li>How to write a goal: </li></ul><ul><li>To increase sales </li></ul><ul><li>To decrease customer service expenditures </li></ul><ul><li>How not to write a goal: </li></ul><ul><li>To increase sales AND to increase customer engagement </li></ul>Image source: getentrepreneurial.com
  12. 12. Types of objectives <ul><li>Output: Physical products </li></ul><ul><ul><li>Blog post, news release, e-mail, etc. </li></ul></ul><ul><li>Outtake: What a target audience takes away </li></ul><ul><ul><li>Messages, perceptions, understandings </li></ul></ul><ul><li>Outcome: Quantifiable changes in attitudes, behaviors, or opinions </li></ul><ul><ul><li>Sales, change in the number of downloads, requests, responses </li></ul></ul>
  13. 13. Writing measurable objectives <ul><li>To be measurable, objectives MUST include: </li></ul><ul><li>A specific desire, communication or behavioral effect; </li></ul><ul><li>A designated target audience among whom the effect is to be achieved; </li></ul><ul><li>The expected level of attainment; and </li></ul><ul><li>The timeframe in which those attainments are to occur. </li></ul>
  14. 14. Measurable objectives <ul><li>Output: To create a Facebook fan page and have 15% of online public #2 join within 6 months . </li></ul><ul><li>Outtake: To increase positive mentions that include key message in key industry blogs by 15% within six months . </li></ul><ul><li>Outcome: To increase sales of Product X by 20% within 3 months . </li></ul>
  15. 15. <ul><li>To increase sales </li></ul><ul><li>To decrease customer service expenditures </li></ul><ul><li>To increase sales and to increase customer engagement </li></ul><ul><li>To decrease customer service expenditures and to increase customer satisfaction </li></ul>How not to write an objective
  16. 16. Strategy <ul><li>What is the approach to achieving objectives and reaching the goal? </li></ul><ul><li>Example: Establish a Facebook Fan Page to keep target audiences connected. </li></ul><ul><li>Set up a Ning community to support customers of Product X. </li></ul>Image source: getentrepreneurial.com
  17. 17. Tactics <ul><li>What activities will be conducted to carryout specific objectives? </li></ul><ul><li>What tools will be used? </li></ul><ul><li>Example: </li></ul><ul><ul><li>Set up the Facebook account </li></ul></ul><ul><ul><li>Invite target audience via an e-mail </li></ul></ul>Image source: http://francisanderson.files.wordpress.com
  18. 18. A Sample Plan Outline <ul><li>Goal </li></ul><ul><li>Objective 1 (Outcome objective) </li></ul><ul><ul><li>Strategy 1 </li></ul></ul><ul><ul><ul><li>Tactic 1 </li></ul></ul></ul><ul><ul><ul><li>Tactic 2 </li></ul></ul></ul><ul><li>Objective 2 (Output objective) </li></ul><ul><ul><li>Strategy 1 </li></ul></ul><ul><ul><ul><li>Tactic 1 </li></ul></ul></ul><ul><ul><li>Strategy 2 </li></ul></ul><ul><ul><ul><li>Tactic 1 </li></ul></ul></ul><ul><ul><ul><li>Tactic 2 </li></ul></ul></ul>
  19. 19. Sample Measurable Plan <ul><li>Goal: To lose weight </li></ul><ul><li>Outcome Objective: I want to lose 10 pounds by September 15th </li></ul><ul><li>Strategy 1: I will go to the gym 5 times a week </li></ul><ul><ul><li>Tactic 1: Elliptical machine </li></ul></ul><ul><ul><li>Tactic 2: Weight training </li></ul></ul><ul><li>Strategy 2: I will watch what I eat </li></ul><ul><ul><li>Tactic 1: Weight Watchers </li></ul></ul><ul><ul><li>Tactic 2: Journal </li></ul></ul><ul><li>Measurement: I lost 8 pounds by September 15th (Objective not met) </li></ul>Image source: http://reviewsofdietprograms.com/photos/scale.jpg
  20. 20. Sample Measurable Plan <ul><li>Goal: To increase sales </li></ul><ul><li>Outcome Objective: To increase sales of Product X by 20% within 3 months </li></ul><ul><li>Strategy 1: To use Facebook to engage customers of product X </li></ul><ul><ul><li>Tactic 1: Create a Facebook Fan Page </li></ul></ul><ul><ul><li>Tactic 2: Create Facebook Ads </li></ul></ul><ul><li>Strategy 2: To use Twitter to engage customers of product X </li></ul><ul><ul><li>Tactic 1: Conversational Tweets </li></ul></ul><ul><ul><li>Tactic 2: Tweets with discount codes </li></ul></ul><ul><li>Measurement: An increase of sales in Product X of 25% within 6 months (Objective not met) </li></ul>Image source: http://www.salesmotivation.net/img/salesrun.jpg
  21. 21. Plans need to be flexible Image Source: Flickr, ralphventon
  22. 22. What to measure when it comes to social media
  23. 23. Typical Measurement & Value Image sources: harperstudio.typepad.com, tiphut.wordpress.com , bp.blogspot.com, publichealth.columbus.gov, bmwblog.com, conversationmarketing.com
  24. 24. Measurement Today
  25. 25. Traditional Marketing Funnel
  26. 26. Social Network Interference
  27. 27. New Marketing Funnel
  28. 28. SM Measurement of Engagement Image sources: digitalstrategy.govt.nz, orionwell.files.wordpress.com, itqb.unl.pt, iStock, gognis.net
  29. 29. What to measure... <ul><li>Friends, Followers, Fans </li></ul><ul><li>Comments/Subscribers </li></ul><ul><li>Tweets/Retweets </li></ul><ul><li>URL shortener stats </li></ul><ul><li>Increased web traffic </li></ul><ul><li>Click-thrus </li></ul><ul><li>Net Promoter Score </li></ul><ul><li>Influence </li></ul><ul><li>Sentiment </li></ul><ul><li>Brand mentions </li></ul><ul><li>Share of conversation </li></ul>Image source: www.flickr.com/photos/joshrussell/580372830
  30. 30. <ul><li>B enchmarking </li></ul><ul><li>O bjectives </li></ul><ul><li>R eturn on Expenditures </li></ul><ul><li>R eturn on Investment </li></ul>Measurement Best Practices BORR-ing...but necessary! Image source: www.usm.edu/pr/releases/2006/may/cook.htm
  31. 31. Benchmarking Image Sources: http://www.defenselink.mil/ & http://www.sweatyguineapig.com Where did we start? Plan #1: 15 lbs. overweight Plan #2: $50,000 in sales Where did we end? Plan #1: 7 lbs. overweight (lost 8 lbs) Plan #2: $62,500 in sales (25% increase)
  32. 32. Objectives <ul><li>Plan #1: I want to lose 10 pounds by September 15 th </li></ul><ul><ul><li>Results: 8 pounds lost by September 15 th </li></ul></ul><ul><ul><li>Objective not met by 7 pounds </li></ul></ul><ul><li>Plan #2: To increase sales of Product X by 20% within 3 months </li></ul><ul><ul><li>Results: Sales of Product X increased by 25% in six months </li></ul></ul><ul><ul><li>Objective not met by 3 months </li></ul></ul>
  33. 33. <ul><li>Measuring Tactical Expenditures: </li></ul><ul><ul><li>Gym cost </li></ul></ul><ul><ul><ul><li>$50/month (1 month) </li></ul></ul></ul><ul><ul><li>Weight Watchers cost </li></ul></ul><ul><ul><ul><li>$400/month (1 month) </li></ul></ul></ul><ul><ul><li>Journal cost </li></ul></ul><ul><ul><ul><li>$5.00 </li></ul></ul></ul><ul><ul><li>New sneakers cost </li></ul></ul><ul><ul><ul><li>$80.00 </li></ul></ul></ul><ul><ul><li>New gym clothes cost </li></ul></ul><ul><ul><ul><li>$100.00 </li></ul></ul></ul><ul><li>TOTAL: $635.00/8 lbs = $79.38 per pound </li></ul>ROE – Plan #1
  34. 34. ROE – Plan #2 <ul><li>Measuring Tactical Expenditures : </li></ul><ul><ul><li>Facebook </li></ul></ul><ul><ul><ul><li>Free </li></ul></ul></ul><ul><ul><li>Facebook Ads </li></ul></ul><ul><ul><ul><li>$500/month (3 months = $1,500) </li></ul></ul></ul><ul><ul><li>Employee’s Facebook Time </li></ul></ul><ul><ul><ul><li>$40/hour ($40/hr * 10 hrs/wk * 12 weeks = $4,800 ) </li></ul></ul></ul><ul><ul><li>Twitter </li></ul></ul><ul><ul><ul><li>Free </li></ul></ul></ul><ul><ul><li>Employee’s Twitter Time </li></ul></ul><ul><ul><ul><li>$40/hour ($40/hr * 10 hrs/wk * 12 weeks = $4,800 ) </li></ul></ul></ul><ul><li>TOTAL: $11,100/5 sales = $2,220 per sale </li></ul>
  35. 35. ROI – What’s the R? Image sources: http://www.mywasher.net & http://mymoneymakingexperiment.commoney-blogging.gif
  36. 36. ROI – What’s the I? Image sources: blogs.discovermagazine.com, www.ecu.edu, www.clydepumps.com/overview-2
  37. 37. ROI – Plan #2 Gain from Investment – Cost of Investment Cost of Investment And is always expressed in a percentage! $12,500 - $11,100 $11,100 ROI = 13% Sales Expenditures
  38. 38. Measurement is a puzzle Image source: www.askmario.com/backtalk/backtalk_puzzle.php
  39. 39. Where tools can help and where they can’t
  40. 40. Tools to help measure
  41. 41. Tools to help measure Image Sources: mentalfloss.cachefly.net, www.orthonurse.org, i.ehow.com/images, www.smbmarketingguide.com/
  42. 42. Who needs to be involved & what management expects
  43. 43. Who needs to be involved <ul><li>C-Suite (CMO) </li></ul><ul><li>Finance </li></ul><ul><li>Marketing Management (VP) </li></ul><ul><li>Marketing Directors/Managers </li></ul><ul><li>Support Staff </li></ul><ul><li>Vendors </li></ul>
  44. 44. Speak Management’s Language <ul><li>Metrics that management wants to see: </li></ul><ul><ul><li>An increase in sales of $12,500 as benchmarked against last quarter </li></ul></ul><ul><ul><li>Objective was not met by 3 months </li></ul></ul><ul><ul><li>Each sale was $2,500 at an expense of $2,220 </li></ul></ul><ul><ul><li>Social Media ROI was 13% </li></ul></ul>
  45. 45. Get Management Approval <ul><li>Present your analysis </li></ul><ul><ul><li>What did you hear? What was the sentiment? What is the competition doing? </li></ul></ul><ul><li>Share your measurable plan to address findings </li></ul><ul><li>Provide detailed information </li></ul><ul><ul><li>Budget </li></ul></ul><ul><ul><li>Required resources, time, vendors, etc. </li></ul></ul><ul><li>Demonstrate how you will provide an ROI </li></ul>
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  47. 47. Q A &

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