25 ways to measure and analyze your social media marketing ROI
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25+ ways to measure and analyze your social media marketing efforts depending on the level of maturity of social media for your business.
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25 ways to measure and analyze your social media marketing ROI
- 1. 25 Ways to Measure & Analyze your Social Media Milena Regos Out&About Marketing Nov 1, 2012 An inside view on the outside world
- 2. โMarketing metrics inspire certainty and confidence. Cannabis has much the same effect.โ Tim Ambler Professor Emeritus at London Business School, summed up several decades of research into marketing measurement Photo Image: Flickr by Gecko.Juice
- 3. 53% of marketers donโt measure their social media success Source: Awareness
- 4. yet 83% of marketers indicate that social media is important for their business Source: Social Media Examiner
- 5. 80% of worldโs online population uses social media Source: Comscore
- 6. Because of social media, Iโm more likely to: Try new things based on friendsโs suggestions 80% Encourage my friends to try new products 74% Stay more engaged with the brands I like 72% Share any negative experiences with brands or products 42% Not buy certain products because I learned of a negative customer experience 32% 0% 20% 40% 60% 80% Source: MarketForce
- 7. 81% of respondents indicate that posts by friends directly in๏ฌuence their purchase decisions Source: MarketForce
- 8. 78% of respondents indicate that posts by companies directly in๏ฌuence their purchase decisions Source: MarketForce
- 9. What Do They Measure? Fans&Followers 96% Traffic 89% Mentions 84% Share of voice 55% Sentiment 51% 0% 25% 50% 75% 100% Source: Awareness
- 10. 84% state that customer/ community insight is the primary business value from social media Source: Altimeter Group
- 11. Reno - Tahoe Social Media Marketers measure: 90% 81% 67.5% To get the full report: outandaboutmarketing.com 45% 22.5% 19% 19% 14.3% 0% Fans/Followers Leads Sales ROI Source: outandaboutmarketing.com
- 12. Social Media ROI Cycle Grow Engage Monetize Fans Quantitative Traf๏ฌc Followers Qualitative Inbound Links Split testing Brand Sentiment Conversion ROI Fcommerce
- 13. There is no โone- size-๏ฌts-allโ approach
- 14. Whatโs the ROI of measuring your ROI?
- 15. Quantity of Fans & Followers Source: Facebook Analytics
- 16. New/Lost Fans
- 17. 8000 316 6000 4000 6816 2000 139 1729 0 March 2012 Oct 2012
- 18. Facebook Twitter YouTube Vimeo Instagram 70000 7,700 52500 7,553 35000 5,481 17500 2,957 2,653 6,655 56,543 45,968 21,163 15,565 0 Brand A Brand B You Brand C Brand D
- 19. Quality of Fans & Followers Source: PageLever
- 22. Number of Comments, Likes & Shares Source: PageLever
- 27. Ampli๏ฌcation Rate (Shares & Retweets) Source: Commun.it
- 28. How far your tweets traveled Source: TweetReach
- 29. Number of Mentions in News Media Source: Flickr: NS Newsweek
- 30. Number of Social Media Mentions Source: radian6
- 31. Sentiment of Social Media Mentions Source: radian6
- 33. Source: WildFire
- 34. Source: WildFire
- 35. Number of check-ins in geolocation services
- 36. Competitive Research (Twitter) Source: FollowerWonk.com
- 37. Source: Social7
- 38. Source: Social7
- 40. Change in SALES and/or REVENUE ROI: 2,616% Case study on outandaboutmarketing.com
- 41. Content metrics โข Unique Visitors โข Page Views How? Google Analytics โข Search Engine Traf๏ฌc How much? โข Bounce Rate - less than 40% Free โข Conversion Rate - 5% or higher โข Inbound links
- 42. Search engine ranking change
- 43. Social Media exclusive discounts and offers
- 44. Leads/conversions to social media landing pages
- 45. Customer acquisition cost
- 46. Change in Net Promoter Score
- 47. Change in brand perception
- 49. Directly Financial Risk Management Financial perspective perspective Short Term LongTerm Digital Brand perspective perspective Indirectly Financial Source: Forrester Research Inc
- 50. Software Providers โข Google Analytics โข Awareness โข Facebook Insights โข Simply Measured โข Bit.ly โข Argyle โข Twittercounter โข SproutSocial โข PageLever โข WildFire โข Commun.it โข Klout โข SocialBakers โข PeerIndex โข HootSuite โข radian6
- 51. โEssentially all models are wrong, but some are usefulโ. George E.P. Box
- 52. Questions? Milena Regos Out&About Marketing outandaboutmarketing.com milena@outandaboutmarketing.com Twitter: @milenaregos An inside view on the outside world