Social Media ROI
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Tracy Panko, Spiral16 CEO, made a presentation to the KCIABC on social media ROI.
![What Does ROI Mean? ,[object Object],[object Object],[object Object],[object Object],[object Object],Return on investment is a very popular metric because of its versatility and simplicity. It is great for evaluating purchasing a new piece of capital equipment, or purchasing a company. Can be difficult to define gains and costs when measuring ROI for social media efforts](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Social Media ROI
- 1. ROI for Social Media Tracy Panko
- 9. 43% of US Companies Will Be Blogging by 2012 - e Marketer
- 10. Companies with more indexed pages on Googl, ,aooo an, and nnnn generate more sales leads. Every 50 to 100 incremental indexed pages can mean double-digit lead growth. Growth in new leads accelerates significantly once websites achieve 300+ pages indexed by Google. More Indexed Pages = $
- 11. Businesses which have more pages indexed by search engines generate more leads. Size of the business is not a factor in the number of pages your company can have indexed by Google and other search engines. Blogging and using social media gives small to medium sized companies an edge over larger competitors with bigger budgets. Can't Outspend Your Competition?
- 12. Social Media is for Leads and Sales Source: State of Inbound Marketing Report - http://bit.ly/aewfHr
- 13. Blogging More Often Drives Results Source: State of Inbound Marketing Report - http://bit.ly/aewfHr
- 14. Leads by Indexed Web Pages Source: State of Inbound Marketing Lead Generation Report - http://bit.ly/cVMpkn
- 15. Measuring Social Media ROI Wide Range of Measurements
Editor's Notes
- Perspective to my approach to this meeting when I talked to Tom about the opportunity-Wish I had a magic formula I could share that we could all use to calculate the right amount of investment (time, staff and money) that will equal the right amount of value for our companies (x% increase in revenue) but the reality is that doesn’t exist. However, determining your return on investment for social media is important and my goal today is to share some information and data on ROI measurements and ask you some questions along the way to help you identify some ways each of you can measure the work you are doing.
- of an investment is divided by the cost of the investment; the result is expressed as a percentage or a ratio. Companies don’t have perfect knowledge of the financial activity surrounding marketing initiatives, but by understanding the benefits that are possible with marketing ROI techniques it is easier to justify the actions necessary to improve your knowledge. The goal is to identify what can be implemented in your current environment and how you can make improvements to support further implementation. Imagine how silly this conversation sounds: “ Dad, are we there yet?” “18 cheeseburgers and 220 french fries, son!” “ What?” “ Dad, are we THERE yet?” “So far we’ve managed 21.7 miles per gallon. Isn’t that great?” “What?” And so on. This is a silly conversation, yes? So why do we have this conversation: “ Are we succeeding in social media?” “We’ve got 220 Twitter followers!” “ Yes, but are we succeeding in social media?” “So far, we’ve managed 121 Likes on our Facebook page. People love us!” These two conversations are the same. In both cases, we’re repeating back diagnostic metrics when the question is about objective metrics – are we there yet?
- http://bit.ly/c36xeu This example is great analogy, makes an excellent point about the bigger picture with ROI: Imagine how silly this conversation sounds: “ Dad, are we there yet?” “18 cheeseburgers and 220 french fries, son!” “ What?” “ Dad, are we THERE yet?” “So far we’ve managed 21.7 miles per gallon. Isn’t that great?” “What?” And so on. This is a silly conversation, yes? So why do we have this conversation: “ Are we succeeding in social media?” “We’ve got 220 Twitter followers!” “ Yes, but are we succeeding in social media?” “So far, we’ve managed 121 Likes on our Facebook page. People love us!” These two conversations are the same. In both cases, we’re repeating back diagnostic metrics when the question is about objective metrics – are we there yet?
- Imagine how silly this conversation sounds: “ Mom, are we there yet?” “18 cheeseburgers and 220 french fries, son!” “ What?” “ Mom, are we THERE yet?” “So far we’ve managed 21.7 miles per gallon. Isn’t that great?” “What?” And so on. This is a silly conversation, yes? So why do we have this conversation: “ Are we succeeding in social media?” “We’ve got 220 Twitter followers!” “ Yes, but are we succeeding in social media?” “So far, we’ve managed 121 Likes on our Facebook page. People love us!” These two conversations are the same. In both cases, we’re repeating back diagnostic metrics when the question is about objective metrics – are we there yet?
- My message is – diagnostic measures for social media are important to identify and track over time but whats also important is that they are tied to your overall objective. Track the items you can measure over time and track the measures of your overall objective. If you are seeing improvements in your website traffic, and you are seeing an increase in total leads, and then an increase in sales…….one can conclude they are related
- Social media has helped to level the playing field when marketing between large and small companies and those with budgets in the millions or those with budgets in the thousands
- This is a very common sense, talkbasic snapshot of where to begin. We will build the presentation up as we go and make more complex.
- This is a very common sense, talkbasic snapshot of where to begin. We will build the presentation up as we go and make more complex.
- http://bit.ly/c36xeu This example is great analogy, makes an excellent point about the bigger picture with ROI: Imagine how silly this conversation sounds: “ Dad, are we there yet?” “18 cheeseburgers and 220 french fries, son!” “ What?” “ Dad, are we THERE yet?” “So far we’ve managed 21.7 miles per gallon. Isn’t that great?” “What?” And so on. This is a silly conversation, yes? So why do we have this conversation: “ Are we succeeding in social media?” “We’ve got 220 Twitter followers!” “ Yes, but are we succeeding in social media?” “So far, we’ve managed 121 Likes on our Facebook page. People love us!” These two conversations are the same. In both cases, we’re repeating back diagnostic metrics when the question is about objective metrics – are we there yet?