Social Media ROI - measuring the unmeasurable
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Fact: more than 1 Billion people are using social media. Awareness of Facebook is close to 100%, Twitter is at 80%. Every year the budgets for social media marketing increase. On the other hand: all of these platforms are still very young. You cannot get a degree in social media expertise—yet. Books about social media are already outdated as soon as they hit the shelves. So how do we connect these two points of interest? How do we connect investment with measurable results? During this Cleverwood Friday Session, Stijn Vogels, Social Media Consultant at Cleverwood, will introduce you into measuring the unmeasurable: the ROI of Social Media. - What you won’t see: how much Euro do I get when I invest X amount of money? - What you will learn: brand reputation and ambassadorship, customer sentiment and engagement.
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Social Media ROI - measuring the unmeasurable
- 1. Social Media ROI An introduction into measuring the unmeasurable 23.09.2011
- 2. Hello, I am Stijn Historian Blogger Webdesigner Social Media @aardling #FridaySession 2
- 4. This presentation Social media + Return on investment #FridaySession 4
- 5. This presentation Social media + Return on investment #FridaySession 5
- 6. This presentation Social media + Return on investment #FridaySession 6
- 7. This presentation Social media + Return on investment … 4,4M 100K 1M 120K 1,5M* #FridaySession 7
- 8. This presentation Social media + Return on investment #FridaySession 8
- 9. This presentation Social media + Return on investment return – costs costs #FridaySession 9
- 10. This presentation Social media + Return on investment € #FridaySession 10
- 11. This presentation Social media + Return on investment € #FridaySession 11
- 13. Influence
- 14. Engagement#FridaySession 12 Hard metrics = Soft metrics =
- 15. Measuring the unmeasurable #FridaySession 13
- 16. “Show me the money” A client will always want to see results. “I know half of my advertising works … I just don’t know which half.” #FridaySession 14
- 18. Less costs, ex. service, recruitment
- 19. Quality improvement pays for itself#FridaySession 15
- 20. What do you measure? So I asked the social media community #FridaySession 16
- 21. What do you measure? There were some vague replies: “I would say that the ROI can be measured by activity in the community, likes, RT's, gained followers and or clickthrough rates.” #FridaySession 17
- 22. What do you measure? But also more concrete answers: “I provide both soft and hard metrics. - Soft: followers, likes, mentions, influence.- Hard: traffic, click through, sales.” #FridaySession 18
- 23. What do you measure? First things first: explain to your client the value of social and agree on core metrics Business goal, ex. reduce offline support € Social business goals, ex. # of tweets Key performance indicators, ex. # of calls #FridaySession 19
- 24. Social conversion aspects #FridaySession 20
- 25. Classic conversion funnel Discovery Need Consideration Conversion Retention #FridaySession 21
- 26. Classic conversion funnel Discovery Need Consideration Conversion Retention Awareness Product Influence Money Engagement #FridaySession 22
- 27. Classic conversion funnel Discovery Need Consideration Conversion Retention Awareness Product Influence Money Engagement #FridaySession 23
- 28. Classic conversion funnel Discovery Need Consideration Conversion Retention Awareness = social Product Influence = social Money Engagement = social #FridaySession 24
- 29. Social conversion aspects Awareness Influence Engagement #FridaySession 25
- 30. Awareness Quantity: Views Visits Content Traffic … #FridaySession 26
- 31. Influence Quality: Ratings Rankings Referrals Connections … #FridaySession 27
- 32. Engagement Community: Comments Shares Favorites Ambassadors … #FridaySession 28
- 33. How do you measure? #FridaySession 29
- 34. Measuring quantity Views: YouTube Insight, HowSociable Clickthrough: Bit.ly #FridaySession 30
- 35. Measuring quantity Web statistics: Google Analytics, Alexa Data spreadsheets: Excel #FridaySession 31
- 36. Measuring quality Incoming links: Google Alerts Reach: PostRank, Crowdbooster #FridaySession 32
- 37. Measuring quality Sentiment: Lithium, Attentio, Synthesio #FridaySession 33
- 38. Measuring community Ambassadors: Klout, Peerindex, Twitter Grader #FridaySession 34
- 39. Measuring community Conversations: Alterian, SocialMention, AllFacebook Stats #FridaySession 35
- 41. Skittles candy Sets Facebook as their homepage #FridaySession 37
- 42. Mobile Vikings Uses Twitter as support channel #FridaySession 38
- 43. KLM #KLMsurprise monitors Foursquare/Twitter #FridaySession 39
- 44. SchoenenTorfs Recruitment tweet by CEO WouterTorfs #FridaySession 40
- 45. Old Spice TV ad on YouTube turns parody turns series #FridaySession 41
- 47. Have a great day #FridaySession 43
Editor's Notes
- Facebook: 4,4 MillionTwitter: 100 ThousandLinkedIn: 1 MillionVideo: ± 120 Thousand videosYouTube: 60 Thousand videosDailymotion: 45 Thousand videosVimeo: 14 Thousand videosBlogs: 1,5 Million
- Content: posts: photos, videos
- A lot of people ask their friends before purchasing
- http://www.slideshare.net/papercliq/social-media-metrics-5720894
- Changed their default .com homepage to their Facebook pageLater, they changed it to their Twitter accountControversial because if unfiltered messages by fansROI: awareness and engagement
- You cannot call if your connection is brokenBut you can contact them per computerAlways ready to answerROI: low cost, fast service, efficiency, positive influence
- Created a lot of smiles on people’s facesMade a small difference, created a huge reputation impactROI: positive influence,
- May 30th WouterTorfs tweets on his own initiative63 retweets1 week later150 interesting applicationsROI: cost = marginal, compare this to job ad in newspapers or online,received 150 applications, saved money on recruitment
- Body wash for men3 months after the height of the campaign, sales were up by 55%Sales increased by 27% year on yearROI: