Social Media ROI Sherrilynne Starkie,  MCIPR, ABCS 12 March 2010
Agenda Feedback on feedback  Understanding metrics  Tools of the trade Connecting the dots Calculating ROI
Pounds & Pennies
No premature evaluation
What accountants measure Number of transactions Number of customers Number of new customers Revenue Profit
What media & marketers measure  Website visitors Leads & enquiries Retweets Clicks, hits, referrals Facebook fans Blog comments Social mentions/links Satisfaction indicators
Find connections Linking social media to hard goals
SM Metrics Tools  (free or cheap) Google Analytics Social Mention Addictomatic TwitterSearch Backbyte Facebook analytics Trackur  PostRank
SM Metrics Tools  (paid for) Vocus Radian6 ScoutLabs Cymphony Lots more
Evaluate your cost Social media myths It's free! It's easy! Anyone can do it!
Resources = Costs People Dep't staff, Outside specialists, customer services, sales, PR/advertising Time Day job? Technology Software, hardware, access, bandwidth, training
What media & marketers measure  Website visitors Leads & enquiries Retweets Clicks, hits, referrals Facebook fans Blog comments Social mentions/links Satisfaction indicators
Making a connection  Establish baseline metrics Monthly sales (three month history) Monthly profits  Footfall, transactions, other metrics Ongoing measurement Before SM campaign/ after campaign
Making a connection  Create activity timelines Diarise what happened when Who did what  Compare timeline against business metrics  Activity v Sales Activity v Transactions Activity v Footfall, etc.
Making a connection  Create SM metric timelines Facebook Fan/ Twitter follower acquisition Twitter buzz Website visitors Mentions, trackbacks, bookmarks etc  Compare timeline against business metrics  Follower acquistion v Sales Retweets v Transactions Website visitors v Footfall
Making a connection  Look for patterns Sales up or down More visitors to the museum More new business start ups Votes in favour Then look at how each pattern is touched by SM  Analytics Surveys & Questionnaires Other insight
ROI Look at current revenues Subtract baseline The result = change Subtract your SM costs from 'change' The result = net benefit Divide 'net benefit' by SM costs = ROI
Questions?

Social media ROI

  • 1.
    Social Media ROISherrilynne Starkie, MCIPR, ABCS 12 March 2010
  • 2.
    Agenda Feedback onfeedback Understanding metrics Tools of the trade Connecting the dots Calculating ROI
  • 3.
  • 4.
  • 5.
    What accountants measureNumber of transactions Number of customers Number of new customers Revenue Profit
  • 6.
    What media &marketers measure Website visitors Leads & enquiries Retweets Clicks, hits, referrals Facebook fans Blog comments Social mentions/links Satisfaction indicators
  • 7.
    Find connections Linkingsocial media to hard goals
  • 8.
    SM Metrics Tools (free or cheap) Google Analytics Social Mention Addictomatic TwitterSearch Backbyte Facebook analytics Trackur PostRank
  • 9.
    SM Metrics Tools (paid for) Vocus Radian6 ScoutLabs Cymphony Lots more
  • 10.
    Evaluate your costSocial media myths It's free! It's easy! Anyone can do it!
  • 11.
    Resources = CostsPeople Dep't staff, Outside specialists, customer services, sales, PR/advertising Time Day job? Technology Software, hardware, access, bandwidth, training
  • 12.
    What media &marketers measure Website visitors Leads & enquiries Retweets Clicks, hits, referrals Facebook fans Blog comments Social mentions/links Satisfaction indicators
  • 13.
    Making a connection Establish baseline metrics Monthly sales (three month history) Monthly profits Footfall, transactions, other metrics Ongoing measurement Before SM campaign/ after campaign
  • 14.
    Making a connection Create activity timelines Diarise what happened when Who did what Compare timeline against business metrics Activity v Sales Activity v Transactions Activity v Footfall, etc.
  • 15.
    Making a connection Create SM metric timelines Facebook Fan/ Twitter follower acquisition Twitter buzz Website visitors Mentions, trackbacks, bookmarks etc Compare timeline against business metrics Follower acquistion v Sales Retweets v Transactions Website visitors v Footfall
  • 16.
    Making a connection Look for patterns Sales up or down More visitors to the museum More new business start ups Votes in favour Then look at how each pattern is touched by SM Analytics Surveys & Questionnaires Other insight
  • 17.
    ROI Look atcurrent revenues Subtract baseline The result = change Subtract your SM costs from 'change' The result = net benefit Divide 'net benefit' by SM costs = ROI
  • 18.

Editor's Notes