Social media for retirement homes: Calculating return on investment (ROI)
•
0 likes•579 views
Social media can be one of the most challenging platforms for retirement homes to measure return on investment (ROI). But it's an area you can't afford to ignore. Agnes Stawicki of Comfort Life Guide to Retirement Homes (comfortlife.ca) provides practical advice for developing a goal-based approach to measuring your social media marketing return on investment (ROI). What you'll learn: - Measurement tools for tracking your social media efforts - How to set up goals - How are Canadian retirement communities and senior care providers using social media (case studies) - A goal-based approach to measuring ROI Offered by Comfort Life Marketing Academy (ourkidsmedia.com/marketing/retirement-living/), a division of Comfort Life (comfortlife.ca), Canada's #1 guide and online resource to the best retirement homes and senior care options.
Recommended
Recommended
More Related Content
What's hot
What's hot (20)
Viewers also liked
Viewers also liked (20)
Similar to Social media for retirement homes: Calculating return on investment (ROI)
Similar to Social media for retirement homes: Calculating return on investment (ROI) (20)
More from Our Kids Media
More from Our Kids Media (20)
Recently uploaded
Recently uploaded (20)
Social media for retirement homes: Calculating return on investment (ROI)
- 1. SOCIAL MEDIA FOR RETIREMENT CARE: Calculating return on investment (ROI) Agnes Stawicki, @ComfortLife
- 2. overview ! What does social media ROI look like?! ! Measuring social media ROI! ! Case study! ! Problems with ROI calculations! ! Summary!
- 4. what is it? What does social media ROI look like?! ! • 3 out of 4 marketing experts admit they can’t measure social media ROI! ! • Social media ROI is what you get back from all the time, effort and resources you commit to social.!
- 5. what is it? 1. Identify your monetary investment in social media! ! 2. Attach a dollar amount to your social media goals!
- 6. How to measure ROI? “Social Media first and foremost is branding—and it’s difficult to measure branding as a direct conversion.”
- 7. how to measure? ROI =! (gain – investment) investment!
- 8. how to measure: gain 1 What is the goal you want to achieve?! ! 2 How much are these actions worth to you?!
- 9. how to measure: gain 1. Choose a goal! ! • New followers! • Clicks to your website! • Filled out a contact form! • Time spent on an important page of your website! !
- 10. how to measure: gain 2. Track your goal! ! • Set conversion goals or events in Google Analytics! • Define your baseline (or starting point) within your social media accounts! !
- 11. how to measure: gain 3. Assign a monetary value! ! • Lifetime value x conversion rate — How much is each potential visit worth to you?! • PPC costs — How much would you end up paying if you were to use ads to achieve the same actions?! • Guesstimate — use common sense, how much are you willing to pay for X goal?! !
- 12. how to measure: investment Social media is NOT free!
- 13. how to measure: investment ! • Time = labor cost/hr x # hours per month! • Tools = costs of any tools used per month! • Advertising = amount you spend on boosted posts etc.! !
- 14. dummy case study
- 15. dummy case study
- 16. dummy case study Channel Conversions = # downloads Benefit = $17.50 x downloads Facebook 10 $ 175 LinkedIn 5 $ 87.50 Twi7er 6 $ 105 TOTAL 21 $ 367.50
- 17. dummy case study What was your investment?! • 5 hours x $30/hour = $150 ! • + $150 boosted post campaign! ! ROI = ($367.50 - $300) ! $300! ! ROI = 22.5%!
- 19. the problem ! The simplest and shortest conversions happen with direct response!
- 20. the problem
- 21. Channel Assisted conversions Last click conversions Organic search 3,983 12,375 Referral 269 469 Paid search 2 2 Social 31 23 the problem
- 22. the problem How did you hear about us? word of mouth sign online don't know
- 23. The problem Better questions to ask! ! • Did you speak with any experts or advisors?! • Did you do any research online? Do you remember what websites you visited? Perhaps bring up the sites you are a part of and show them so they SEE them.! • Have you seen any of these following newspapers or magazines?! ! “The biggest change in sales over the last 10 years is that prospects are coming to you 60% down the conversion funnel.”! ! - Daniel Pink!
- 24. About Comfort Life ! Canada’s #1 guide to retirement & care (annual print guide and online at www.comfortlife.ca )! ! 100% target audience of decision makers searching for information about retirement communities and care! !
- 25. Summary ! ! ROI = (gain – investment) / investment ! ! ! Calculating social media ROI is one of the most challenging operations for marketers. ! ! Proposed formulas can have serious shortcomings! ! Focus on reach, engagement and branding impact! ! ! Customers are coming to you 60% down the conversion funnel (after many interactions with your brand). Use data and ask the right questions.!