Unlike unicorns and leprechauns, social media measurement DOES exist and CAN be tracked. Nichole Kelly will bust the common myths of social media measurement and share the keys to defining metrics that truly impact your business. The discussion will focus on actionable tips to define your metrics, simple ways to apply them to bottom line results, and concrete tactics to analyze their impact on your business objectives. This will be an extremely informative discussion, followed by a Q&A segment that will turn your social media measurement strategy from legend to reality.

1. UNICORNS, LEPRECHAUNS AND
OTHER SOCIAL MEDIA
MEASUREMENT MYTHS BUSTED
Nichole Kelly
Nichole_Kelly nicholekelly.com
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Sponsored By:

2. WHO ARE YOU?
 B2B
 B2C
 Agencies
 Using Social Media
 Measuring Social Media
 Big Firms
 Small Firms
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3. WHO AM I?
 Director of Social Media for CareOne Services, Inc, a leading provider
of debt relief services
 Vice President of Communications for the Baltimore Chapter of the
AMA
 Contributing writer for SocialMediaExaminer.com
 Blogger at NicholeKelly.com
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4. THE CHALLENGES TO SOCIAL MEDIA MEASUREMENT
 Existing Systems
 CRM
 Website
 Website monitoring – Google Analytics etc.
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5. THE CHALLENGES TO SOCIAL MEDIA MEASUREMENT
 Myth #1 - Unicorns
 You CAN’T measure social
media ROI
 Myth # 2 - Leprechauns
 You have to have big
budgets to measure ROI
 Myth #3 – Other Myths
 You shouldn’t bother
measuring social media
ROI because you can feel
what is and isn’t working
Image source: http://www.flickr.com/photos/notionscapital/3363407712/sizes/m/in/photostream/
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6. THE CHALLENGES TO SOCIAL MEDIA MEASUREMENT
 Myths are created because we don’t know
the answers
 We are scared of the results
 We are overwhelmed by the possibilities
Image Source: http://www.flickr.com/photos/martyndebz/112013515/sizes/m/in/photostream/
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7. THE CHALLENGES TO SOCIAL MEDIA MEASUREMENT
 Existing Systems
 CRM
 Website
 Website monitoring – Google Analytics etc.
Image Source:
http://www.flickr.com/photos/gauravonomics/4410045335/sizes/m/in/photostream/
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8. THE CHALLENGES TO SOCIAL MEDIA MEASUREMENT
 Myriad of Monitoring Tools
 Radian6
 Social Toaster
 Biz360
 Hootsuite
 The list goes on and on…
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9. THE CHALLENGES TO SOCIAL MEDIA MEASUREMENT
 Preconceived Notions
 Social media is fluff
 You can’t measure it
 It doesn’t deliver ROI
 It takes too much time
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10. STEP 1 – SET YOUR GOALS
Brand Lead
Awareness Generation
Customer
Retention
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11. STEP 2 – UNDERSTAND YOUR FUNNEL
Track repeat
business and retention

12. STEP 2 – UNDERSTAND YOUR FUNNEL
Visits, Views, Followers,
Fans, Subscribers, Brand
mentions
Share of voice, Sentiment,
Top Influencers Report
(Radian 6)
Clicks, Retweets, Shares,
@replies, DMs, wall posts,
comments
Content downloads,
Webinar attendees, Lead
Generation Forms,
Pitches/Proposals
Online sales, Phone sales,
in-person sales
Track repeat
business and retention

13. STEP 3 - OVERCOME THE CHALLENGES
 Know your systems
 What are the limitations for your ____?
 Where are the opportunities for your ____?
 What will talk to what?
 CRM
 Website
 Website monitoring
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14. STEP 3 - OVERCOME THE CHALLENGES
 Understand which monitoring tools are for
monitoring and which are for reporting ROI
 Monitoring
 Radian6
 Biz360
 Hootsuite
 The list goes on and on….
 ROI/Value
 CRM
 Accounting
 Social Toaster (for Brand Ambassadors Only)
 Website Monitoring
 Hootsuite (If you have Google Analytics)
 Blow away Preconceived notions
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15. STEP 4 – DEFINE YOUR INPUTS
 Cookies
 Shortened URLs
 Landing Pages
 Call to Actions
 Advertisements
Image Source: http://www.flickr.com/photos/universityofscrantonlibrary/3720985079/sizes/m/in/photostream
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16. STEP 5 – UNDERSTAND YOUR RESOURCES
 Off the Shelf Solutions
 Budget
 Web Development Team
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17. STEP 6 – UNDERSTAND YOUR LIMITATIONS
 Walk before you run
 Always keep the end in mind
STEP 7 – SET REALISTIC EXPECTATIONS
 It takes time for social media to deliver ROI
 But you can show improvement while you
get there
 Don’t measure things that aren’t counted in
the ROI of other marketing channels
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18. WHERE TO BEGIN
 Start with what you know
 What does your firm already measure?
 Revenue
 Costs
 Where can social media add value in those
areas?
 Can those numbers be tweaked to show
social media’s role?
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19. LEAD GENERATION
 Define Your Inputs for Lead Gen
 Indirect/Direct Response Conversion Points
 Lead Forms for free content and lead forms for a sale
 New Business Campaign History
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20. LEAD GENERATION
 Consider Lead Scoring
 Slow
 These prospects are likely in the pre-
research/awareness phase. This is a great
opportunity to send these leads your
relevant FREE content at some regular
interval that isn’t annoying, but enough that
you don’t fall off the radar.
 Medium
 These prospects are in the
research/consideration phase. You want to
find the tipping point for these prospects to
move them into the next stage in the
funnel.
 Fast
 These prospects are in the decision-
making/buy phase. They want a solution
and they have a clear time frame for when
they need it. It is likely that most of your
sales team spends their time actively
working these prospects. Generally,
marketing takes a back seat on special
marketing offers in order to not “delay” the
sale.
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21. LEAD GENERATION
 Ask Yourself Where You Need to Optimize
Your Social Media Lead Generation Efforts
 Is there a bottleneck in your lead funnel? Review where leads are
getting caught and reevaluate your approach.
 Are you able to convert leads at the same or lower costs than
other channels with social media?
 Do you need to stop any activities that are causing leads to fall
out of the sales funnel?
 Are you reaching people at points in the buying cycle when other
channels can’t?
 Are you placing more people into the sales funnel at a lower cost?
At what rate is it growing?
 Have you aligned your sales process with leads that aren’t ready
to buy today?
 How does the conversion rate of social media leads compare to
non-social media leads?
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22. LEAD GENERATION
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23. LEAD GENERATION
 Because that’s where you find GOLD!
Social Media Improvement in Conversion
800%
700%
732%
600% 680%
500%
400%
300%
200%
217%
100%
179%
0%
Signed Up for a Plan Made First Payment
Social Prior to Lead Form Social After Lead Form
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24. Unlike Mortgages These Rates
Aren’t Low!
 Conversion Rates
 Growth Rates
 Retention Rates
 Customer Save Rate
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25. Like Mortgage rates these are
low!
 Cost per lead
 Cost per customer acquired
 Cost per customer serviced
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26. LEAD GENERATION
These metrics are indicators that do
not necessarily correlate directly to
ROI
 Followers/Fans
 Clicks
 Views
 Visits
 Subscribers
 Share of Voice
 Mentions
Great for presence
management…not to justify
additional budget
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27. QUESTIONS
THIS EVENT WAS SPONSORED BY:
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