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Social Media Measurement: From Reach to ROI


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Presentation given at SMX 2012 by Nan Dawkins, CEO of Social Snap/Serengeti Communications. Social Media Measurement: From Reach to ROI. Proving the business value of social media.

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Social Media Measurement: From Reach to ROI

  1. 1. Social Media Measurement: From Reach to ROIProving Business Value: Lets Get Practical Nan Dawkins SMX Social Media Marketing 2012
  2. 2. A Story: How a turned into alesson about the business value of earned social media
  3. 3. Brand = FUN
  4. 4. A Facebook Natural
  5. 5. A highly engaged community
  6. 6. Then…it all fell apart.
  7. 7. To Start Over or Not? This is a lot of work!
  8. 8. Promising, Yes.A business case? No.
  9. 9. Connecting the data dots:Facebook Engagement & Customer Records
  10. 10. The business case
  11. 11. Chicken or egg? Who cares! Would you walk away from this? It costs less to up-sell an existing customer than to acquire a 80% of These new one revenuepeople buy… comes from repeatedly! 20% of customers!
  12. 12. Why we struggleto show business value
  13. 13. Lack of data is not the problem
  14. 14. Problem #1:Senior execs need different metrics
  15. 15. …Last click transactions won’t make the business case
  16. 16. …Because social shines at filling up the prospect funnel New SalesRepeat Purchases & New Sales
  17. 17. Problem #2: Data lives in silos Twitter Tools FB Insights SMMS Tools Buzz Monitoring Tools Campaign AppsShiny GAnew tool Shiny new tool CRM Buzz Monitoring Tools
  18. 18. How to solve both problems…Start connecting dots.
  19. 19. The connection with biggest impact FollowsTweet toBlog Post Downloads 8/10 a product Downloads guide a white 8/15 Requests paper a Demo 8/10 9/1 Gets an email; clicks on Purchase a link $$$ 8/15 10/2
  20. 20. Web Analytics + CRM = Metrics Senior Execs will love• Time to close – Do social leads/prospects close faster than average?• Average close rate – Do social leads/prospects close at a higher rate than average?• Average sale and/or LTV – Do social leads /prospects spend more than average?
  21. 21. Can’t connect all the way to purchase? Focus on leads and prospects 21
  22. 22. Which conversions? Begin to craft an understanding of what the path is, which channels touch the customer where– Where does social shine?– Which types of conversions does it drive?– What kinds of conversions are other channels driving?
  23. 23. A cheap & easy way to get multi-channel data: UTM Parameters in links We use links in email. We use links in PPC. We use links in social media.
  24. 24. …But sloppy use of source/medium/campaign parameters leads to confusing data
  25. 25. Give Senior Execs the Big Picture• Keep it short and simple: Boil it down!• Put it in context• Don’t show conversion values or attribution data that can’t be validated and defended (they will ask)
  26. 26. Don’t forget…There won’t be any business value if you stop paying attention to metrics at the top of the funnel– There won’t be any business value to report if you stop paying attention to the metrics that tell you how the community is growing, how engaged it is, what content resonates, etc.– Senior Execs need DIFFERENT metrics, but business value metrics aren’t the only metrics that are important