ROI of an Elephant
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What's the ROI of Social Media? You might as well be asking what's the ROI of an elephant... Presentation by Gwen Woltz and Karen Weikert of Wahine Media at Social Media Club Hawaii's quarterly meeting on October 18th, 2011
![“The question, then, is not what is the ROI
of social media, but rather what is the ROI
of [insert activity here] in social media? In
fact, to ask the question properly, you have
to also define the timeframe. For example:
What was the ROI of [insert activity here] in
social media for Q3 2011?”
Are
you
asking
the
Social Media and ROI: A Little Bit of Clarity
right
question? —Oliver Blanchard](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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ROI of an Elephant
- 1. What’s the ROI of You might as well be asking Social Media? what’s the ROI of an elephant...
- 2. “The question, then, is not what is the ROI of social media, but rather what is the ROI of [insert activity here] in social media? In fact, to ask the question properly, you have to also define the timeframe. For example: What was the ROI of [insert activity here] in social media for Q3 2011?” Are you asking the Social Media and ROI: A Little Bit of Clarity right question? —Oliver Blanchard
- 3. First can you tell us, why an elephant? Why did you recruit a 12,000 pound pachyderm with a penchant for peanuts?
- 4. Before you plan Envision your elephant... a campaign
- 5. Is he stationed at the front of the mall Brand Visibility bedecked in satin Special Promotion and tassel signage?
- 6. Is he giving little Creating goodwill children rides on Photo ops on Facebook Location check-ins on Foursquare his back?
- 7. Is he a crowd Fingers and tweets fly about pleaser—causing “Monty the Magnificent” quite a stir?
- 8. Define and Align What is this campaign What results do you want With expectations and about? {strategy} to see? {goals} benchmarks set, you can now fill your cup with Promote an event? Increase brand visibility? statistical goodness. Build a Facebook community? Reduce customer service cost? Introduce a new product? Increase sales?
- 9. Your promotion caused a lot of commotion— but was it successful? Answer: If you just look at the $$$ gained, you’re missing a HUGE part of the picture
- 10. Now, how do you Qualitative measurement measure that?
- 11. I’m talking to you It’s not always You’re talking back You tell your friends I’m cool black and white Your friends now want to meet me
- 12. “The ROI of social media is your business will still exist in 5 Hold please... years” —Erik Qualman What’s the ROI of “@prsingleton: Clear NOT having a cost of not engaging in conversation? Social Media is being perceived as a flat- earther. #socialchat”
- 13. Filling your cup Your metrics are informed by with statistical your goals. It’s up to you to make your own brew. goodness
- 14. Nitty gritty • Brand Awareness • Social Reach weights and • Frequency measures • Audience
- 15. Brand Awareness Who is talking about your brand, where, and how often? • Monitor conversations • Hootsuite & TweetDeck • Google Alerts • Twitter lists • Hashtags • Exposure • How many platforms are you on? • Social ranking • How visible are you online?
- 16. Social Reach How large is your community and is it growing? • Number of followers • How many subscribers, fans, followers circles and lists? • Performance • Which channels are most active? • Which posts are most viewed? • Growth • Are you up or down from last month?
- 17. Frequency When you talk to people are they talking back? • Engagement • How often? • Number of RT’s, mentions, shares, comments, likes • Who with? • Influencers? {Reporters, industry experts, community leaders, CEO’s} • Unique visits • Facebook Insights, Google Analytics
- 18. Audience What elicits a response? • Demographics • M/F, age, country, zone • Behaviors • Best time of day {Time.ly} • What type of posts get the most response?
- 19. Great tools! • Hootsuite • Basic plan & quick analytics {$5.99/mo} • Customized reports for additional cost • TweetDeck • Sprout Social • At a glance monthly report {$5.00/mo} • New Facebook Insights • Google Analytics & Alerts • Twenty Feet • Twit Sprout • SocialOomph • Webtrends • Social Argyle • Social Bakers
- 20. “Not everything that counts can be counted, So true Al... It’s what moves and not everything that the needle that counts! can be counted counts.”
- 21. Stay in touch Wahine Media web: wahinemedia.com blog: wahinemedia.com/wahineblog facebook: facebook.com/wahinemedia twitter: @wahinemedia Karen Weikert @karenweikert Gwen Woltz @gjwahine Link to slideshow: http://www.slideshare.net/wahinemedia