CAN YOU MEASURE THE ROI OF SOCIAL MEDIA MARKETING CAMPAIGN

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CAN YOU MEASURE THE ROI OF SOCIAL MEDIA MARKETING CAMPAIGN

  1. 1. CAN YOU MEASURE THE ROI OF SOCIAL MEDIA MARKETING ? DONNA HOFFMAN MAREK FODOR • UJJWAL DALMIA
  2. 2. AGENDA 1.UNDERSTANDING PROBLEM STATEMENT 2. TRADITIONAL APPROACH VS PRESENT APPROACH 4.SOCIAL MEDIA OBJECTIVES 5. FRAMEWORK 6. THE IDEAL ROAD AHEAD 7. MOVIE TIME
  3. 3. WHAT IS ROI ? • A MEASURE TO CALCULATE THE EFFECTIVENESS OF INVESTMENT. • BENEFIT OF INVESTMENT DIVIDED BY EXPENSE. • Gain from Mktg. Inv. -Cost of Mktg. Inv. Cost Of Mktg. Inv.
  4. 4. SOCIAL MEDIA • SOCIAL MEDIA INTERACTIONS AMONG PEOPLE IN VIRTUAL COMMUNITIES AND NETWORKS. • PEOPLE CREATE,SHARE AND EXCHANGE INFORMATION
  5. 5. ANCIENT CORPORATE TEACHINGS 2 RULES OF BUSINESS • IT’S ALL ABOUT THE MONEY. • CUSTOMERS = (MACHINE TO MAKE MONEY.)
  6. 6. TRADITIONAL APPROACH • Pressure and Desire to Quantify. • Link every return to money. • Inclined towards gains in SHORT TERM. • Ignores aspects of investment like brand building , relationship mgmt.
  7. 7. ORIGINAL vs REVISED SOCIAL MEDIA F/W • REACH • FREQUENCY • LIKES • REACH + FREQ. + LIKES +•TIME SPENT •BLOG COMMENTS •(RE) TWEETS •SHARES et all
  8. 8. UNDERSTANDING THE CUSTOMERS MOTIVATION • SOCIAL MEDIA IS CONSUMER (NOT MKTR.) DRIVEN . • FOCUSSES ON RELATIONSHIP BUILDING. MOTIVATION CONNECTIONS CREATION CONSUMPTON CONTROL
  9. 9. SOCIAL MEDIA METRICS AND OBJECTIVES • DIFFICULT TO LINK SALES AND SOCIAL MEDIA EFFORTS. • HELPS IN COST CUTTING (eg :- CROWD SOURCING, SURVEY FEES)  BRAND AWARENESS  BRAND ENGAGEMENT  BOOST TO WORD -OF-MOUTH.
  10. 10. OBJECTIVES BRAND AWARENESS • TRADITIONALLY THROUGH TRACKING SURVEYS AND STUDIES. • APPLICATION USAGE LEADS TO BOOST IN BRAND AWARENESS. • STARBUCKS, NAKED PIZZA,BLEND TEC
  11. 11. BRAND ENGAGEMENT •TRADITIONALLY VIA MARKET SURVEYS. • FACEBOOK APPS,PODCASTS, VIDEOS , BLOGS ETC. • INCREASED VISITS TO WEBSITES, BLOGS AND MORE TIME SPENT ON WEBSITES • ENGAGING S.MEDIA CAMPAIGNS LEAD TO MORE COMMITMENT AND LONG TERM SUPPORT • BOTTOMLINE REWARD :- DEALYED SALES • MEASUREMENT :- 1 TIME VS MULTIPLE • Eg :- GRETSCH GUITARS , TARGET (CIRCLE OF MOMS)
  12. 12. WORD OF MOUTH • SATISFIED CUSTOMER GENERATES GOOD WILL • DOUBLE EDGED SWORD • EASY TO MEASURE USING ONLINE GENERATED DATA. • BURGER KING .
  13. 13. STEPS TO EFFECTIVE MARKETING • DEAD END LIMITED ABILITY TO MEASURE AND BELIEVES EFFORTS NOT WORKING • MEASURE AND ADJUST ABILITY TO MEASURE AND BELIEVES EFFORTS NOT WORKING. MEASURE & ADJUST ITERATE FOR SUCCESS NAÏVE OPTIMIST DEAD END A B I L I T Y EVALUATION
  14. 14. STEPS TO EFFECTIVE MARKETING • ITERATE FOR SUCCESS ABILITY AND EVALUATION SUCCESSFUL • NAIVE OPTIMISM LIMITED ABILITY BUT EVALUATING SUCCESS MEASURE & ADJUST ITERATE FOR SUCCESS NAÏVE OPTIMIST DEAD END EVALUATION A B I L I T Y
  15. 15. GURUS PREDICTION IDEAL SOCIAL MEDIA WORLD • SPREAD VIRAL VIDEOS • CREATE ADDITIONAL BRAND RELATED CONTENT • TWEETER EFFECTIVE TO SENSE TREND • POST EXPERIENCE ON FACEBOOK
  16. 16. QUICK REVISION FOR MANAGERS • ROI IS IMP. BUT S. MEDIA MKTG HAS TO BE EFFECTIVE. • MGRS. HAVE TO EXERCISE SOME CONTROL OVER CUSTOMER PARTCIPATION • APPRECIATE THE INTRICACIES OF SOCIAL MEDIA • SOCIAL MEDIA IS A TREE TO BE NOURISHED FOR LONG TERM FRUITS • BE READY FOR DAMAGE CONTROL •

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