Social Media ROI in 7 Easy Steps

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Social Media ROI in 7 Easy Steps

  1. 1. SOCIAL ROI IN 7EASY STEPSPRESENTED BYSERENA GOLDBERG, MANAGER OF ANALYTICSJENNA LEBEL, VP OF GLOBAL MARKETINGOCTOBER 24, 2012http://slideshare.com/likeablehttp://bit.ly/smroiwebinarhttp://likeableroi.com#likeable
  2. 2. TODAYS PRESENTERS Serena Goldberg Jenna Lebel Manager of Analytics VP of Global Marketing Likeable Media Likeable Media @SerenaGoldberg @JennaL15#likeable
  3. 3. WHATS INSIDEMeet Likeable 7 Easy Steps to Social ROIOverview of Social ROI A Likeable Case Study ExampleWhy You’re Not Seeing Results Q&A, Feedback & Grand PrizeDo’s & Don’ts#likeable
  4. 4. HAVE A QUESTION?Tweet questions to @LikeableMediaor use the hashtag #likeableAsk questions on our Facebook pageat fb.com/LikeableMediaUse the chat bar in GoToWebinar toask questions!#likeable
  5. 5. MEET LIKEABLE
  6. 6. TIMELINE#likeable
  7. 7. MEET OUR CLIENTS#likeable
  8. 8. WHAT IS SOCIALROI?
  9. 9. ROI IS A HIGHLYDEBATED TOPICIN SOCIAL MEDIA#likeable
  10. 10. SOCIAL ROI DEFINED “While the definition of ROI (revenue minus expenses / expenses) is fairly straightforward, ROI can only be defined when you understand “Marketers often frame this question as what results provide “value” to your brand.” What is the ROI of social media? but financial metrics are just one way of evaluating social media marketing Wildfire ROI White Paper programs. Social media marketing delivers a wide range of benefits to organizations that are beneficial in the “Social media is measurable. It can be done. short term and long term in ways both To say social media cant be measured is a quantitative and qualitative.” cop-out, and dangerous for anyone who works in an organization that, say, plans to make or raise money at some point in the future.” Forrester Report, The ROI of Social Marketing#likeable Altimeter Group#likeable
  11. 11. SOCIAL ROI STATS41% of marketers surveyed had no returnon investment figure for any of the moneythey had spent on social channels as ofOctober 2011.74% of CMOs believe they’ll tie socialmedia efforts to hard ROI this year.#likeable
  12. 12. OVERVIEW OFSOCIAL ROI
  13. 13. SOCIAL ROI:ITS CONTEXTUALDefining social ROI is challengingbecause it’s all contextual#likeableSAMPLE FACT SOME HASHTAG
  14. 14. SOCIAL ROI:MORE THANSALES EARNINGSNever let one general number be your ROI#likeableSAMPLE FACT
  15. 15. WHY YOURE NOTSEEING RESULTS
  16. 16. WHY YOURE NOTSEEING RESULTSYou only focus on likes and follows#likeable
  17. 17. WHY YOURE NOTSEEING RESULTSYoure only measuring whats there#likeable
  18. 18. WHY YOURE NOTSEEING RESULTSYou don’t compare your results to theindustry in general or your competitors#likeable
  19. 19. WHY YOURE NOTSEEING RESULTSYou aren’t telling a storyStraight data = ineffectiveAnalysis = critical#likeable
  20. 20. WHY YOURE NOTSEEING RESULTSYou aren’t able to adjust your strategyas a result#likeable
  21. 21. DO’S & DONTS
  22. 22. SOCIAL ROIDO: OUTLINE GOALSIdentify SuccessBrainstorm ideal outcomes andreference points so you can measureagainst them#likeableSAMPLE FACT SOME HASHTAG
  23. 23. SOCIAL ROIDO: TELL A STORYSupplement your data with stories#likeableSAMPLE FACT SOME HASHTAG
  24. 24. SOCIAL ROIDO: DIFFERENTIATEKnow different metrics matter todifferent people#likeableSAMPLE FACT SOME HASHTAG
  25. 25. SOCIAL ROIDO: USE VARIOUSMETHODS#likeableSAMPLE FACT SOME HASHTAG
  26. 26. SOCIAL ROIDONT: MEASUREEVERYTHINGOnly measure what matters to yourbrand and what will move yourstrategy forward#likeableSAMPLE FACT SOME HASHTAG
  27. 27. SOCIAL ROIDONT: RELY ON TOOLS TOPROVIDE ANALYSISOnly use these tools to provide data,trends and themes#likeableSAMPLE FACT SOME HASHTAG
  28. 28. SOCIAL ROIDONT: MISTAKE ROIData, metrics and KPIs are not ROIData and metrics show the positiveand negative changes that haveoccurred in your business#likeableSAMPLE FACT SOME HASHTAG
  29. 29. SOCIAL ROIDO’S AND DONTSDo DontOutline Goals Measure EverythingTell A Story Rely On Tools To Provide AnalysisDifferentiate Mistake SM data, metrics, or KPIs for ROIUse Different Methods#likeableSAMPLE FACT SOME HASHTAG
  30. 30. SOCIAL ROI IN7 EASY STEPS
  31. 31. STEP 1: DETERMINE YOUR GOALS#likeable
  32. 32. STEP 2: BENCHMARKING#likeable
  33. 33. STEP 3: PUT THE TRACKING IN PLACE#likeable
  34. 34. STEP 4: MEASURE
  35. 35. STEP 5: DETERMINE YOUR COST#likeable
  36. 36. STEP 6: IDENTIFY THE RETURN#likeable
  37. 37. STEP 7: CALCULATE AND EVALUATE BENEFITS – COSTS ROI = COSTS#likeable
  38. 38. PUTTING IT IN PRACTICE Our Case Study#likeable
  39. 39. PUTTING IT IN PRACTICE:OUR CASE STUDYClient: Things RememberedPromotion: Brides-to-BeWhat: Private event for Facebook fansonly that included a free personalized gift,private shopping and expert advice byshowing “engaged” status on Facebook#likeableSAMPLE FACT SOME HASHTAG
  40. 40. PUTTING IT IN PRACTICE:OUR CASE STUDYResults:53% of all stores had a transaction thatincluded the free gift23.6% saw revenue increase on this daycompared to the same day of last yearOverall 670% ROI#likeableSAMPLE FACT SOME HASHTAG
  41. 41. LIKEABLE CONTENT:EXCLUSIVE ACCESSSAMPLE FACT SOME HASHTAG#likeable
  42. 42. LIKEABLE BUSINESS:BONUS OFFERLikeable Business: Why Today’s Consumers Demand Moreand How Leaders Can Deliver is available for pre-order onAmazon.Want a free Likeable consulting session? Buy 10 books ofLikeable Business today! Email theresa@likeable.com formore information.Upcoming Likeable Business Events: • October 29th: Book launch party in NYC • Reserve your ticket today! • October 30th: Video chat book tour • RSVP today! • October 31st: Free webinar with Andy SernovitzSAMPLE FACT SOME HASHTAG • Why A Likeable Business Is the Best Word of Mouth • RSVP today: http://bit.ly/WJgAnD#likeable
  43. 43. THANK YOU!Questions? Feedback? Grand Prize!SERENA GOLDBERG, MANAGER OF ANALYTICSJENNA LEBEL, VP OF GLOBAL MARKETINGhttp://likeable.comhttp://FB.com/likeablemedia@likeablemedia

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