Social Media Metrics and ROI: mUmBRELLA and TCO Social Media

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Information about Social Media Metrics and ROI: mUmBRELLA and TCO Social Media
Business & Mgmt

Published on February 27, 2013

Author: TCOslideshare

Source: slideshare.net

Description

What is the value of my brand’s social media presence? This presentation will demonstrate the steps required to measure the return on your investment- including setting objectives and what you should be aiming for with a social media presence. This session will also explore Measurement on Facebook and other social media sites. Bringing terms like ’virality,” “Reach”, “Talking about vs Engaged Users" into plain language; what they mean for your brand and benchmarks to aim for.

Social Media Metrics & ROI mUmbrella & TCOʼs Social Media Academy

#mUmTCO

43% of marketers donʼt measure social ROI Socialrati.com

SOCIAL METRICS & ROI EARNED OWNED SOCIAL INSIGHTS & BEHAVIOURS FILM / AV PAID SHARED ENVIRONMENTAL ANALYSIS CONNECTION CREATE (LEAD) Channel, role, message & call-to- DIGITAL INTERACTIVE COMPETITORS / AUDIENCE actionBUSINESS /MARKETING Strategy Ideas Planning ExecutionOBJECTIVES BRAND ESSENCE / TOOLS / AMPLIFY (PARTNER) ASSET/CONTENT DESIGN ASSETS / EXPERIENCE Creative Development TCO PROPRIETARY TOOLS / BROADCAST EXPERIENCE TYPOGRAPHY EXPERIENCE DIGITAL MEASUREMENTS & INSIGHTS

TONIGHT1. Value of social media2. Setting objectives3. Social media process - case study4. Metrics5. Tools

Jumpinʼ on the bandwagon =

ROI =Financial gain - Investment cost Investment cost

Breaking down financial gain Financial gain - Investment cost Investment cost

The secret is focusInvestment cost Action Response Financial gain - Staff costs - Set up a Blog METRICS METRICS- Media spend - Facebook page NIGHTMARE SIMPLICITY - etc - etc FROM TO

The Metrics Nightmare CONNECTIONS RESOLUTIONS BENCHMARKING CHANNEL ANALYSIS RESPONSE TIME SENTIMENT COMPETITOR ANALYSIS KPIʼS BEHAVIOURAL TRENDS LEARNINGS REPORTING VIRALITY & DEMOGRAPHICS EVALUATION ANALYSIS ENGAGEMENT COST PER VIEW ACTIONABLE INSIGHTS REACH INTERACTIONS GEO-LOCATION PERFORMANCE RECEPTIVITY FREQUENCYThis digital file / document contains confidential information and has been prepared for discussion purposes only.  TCO Pty. Ltd. claims ‘commercial in confidence’ with respect to the contents. Please refer to our standard terms at the end of this document.

Value of Social Media Tactical Listening, feedback, campaigns insights, research Trust CRM WOM,Awareness sharing gain - cost ROI = TestingBrand costengagement SalesIdentifyingopportunities, leadgeneration, acquisition Retention, loyalty SEO CLV

PROCESS

THE PROCESS SET OBJECTIVES ESTABLISH METRICS MEASURE & REFINE

SETTING OBJECTIVESWithout set goals, how do we know whatconstitutes success?Business Objective Business Metric Social MetricImprove financial % of enquiries resolved Reduce call centre trafficperformance via SMReduce injuries & deaths Increase awareness Achieve 100k video views

MARKETING FUNNEL Presence Profile ParticipationAwareness Consideration Preference Purchase Retention- Impressions - Sentiment - Engagement - Mentions - Likes/- Reach - Virality Followers- Potential - Sentiment - Engagementreach - CPC - Virality- CPM- Share of Voice

CASE STUDY

AWARENESS- Impressions - how many times your message/ad appears oncomputer screens- Reach - how many individual people see your message/ad- Potential reach - how many people you could potentiallyreach- CPM - Cost per 1,000. Online advertising charged at a costper 1,000 impressions. These ads are usually to driveawareness.- Share of Voice - how many of the relevant conversationsonline are about your brand vs competitors

AWARENESSEquivalent Media Value (EMV): If younormally pay $X per 1,000 impressionsfor digital display advertising, you canwork out the EMV of your social mediaefforts.e.g. $7 CPMImpressions/1000 x $7 = EMV

AWARENESSHow do we work After running anout the awareness advertisingof PIZZA campaign onSCISSORS on Facebook how dosocial media? we measure our ROI?

CONSIDERATIONSentiment - the feeling behind a conversation in relation toparticular criteria e.g. brand, product, campaign, event etc.

MEASURE YOUR CONVERSATIONSSocial media allows for a 2- How many people are talkingway dialogue - use this to your about you?advantage! What are they saying? Are they reacting to your posts, or posting of their own accord? What is the sentiment around these conversations?

MEASURE YOUR CONVERSATIONSSocial media allows for a 2-way dialogue - use this to youradvantage! Use the insights gained from monitoring these conversations to inform your strategies.

CONSIDERATIONHow many people are talking aboutPIZZA SCISSORS?What are they saying?Are they reacting to your posts, orposting of their own accord?What is the sentiment around theseconversations?PIZZA SCISSORS vs competitors?

PREFERENCEEngagement - how many people are engaging with your content(clicks, Likes, comments, RTʼs, @replies, shares, favourites etc.)Virality - Facebook metric (Reach/Reactions [Likes, Comments,Shares]). Measures of those who saw your post, how manycreated a story on Facebook about it for their friends to see.Sentiment - feeling behind a conversation.CPC - Cost per Click. Online advertising charged on a per clickbasis. Great for when you want someone to take an action.

THE VIRAL NATURE OF SOCIAL NETWORKS Social media allows your messaging to spread faster than any other marketing before - it can go viral! Measure how things spread & try to work out why for your brand/business. Leverage this to get your messaging in front of as many people in a relevant way as possible.

THE VIRAL NATURE OF SOCIAL NETWORKS Post Newsfeed 1 Newsfeed 2 Newsfeed 3 Like Comment Friends see Friends see action action Friend also Likes post

PREFERENCEHow can we measure whoprefers PIZZA SCISSORSover competitors?

PURCHASEConversations - arepeople talking aboutbuying your product?Online sales - are theypurchasing online (ifapplicable)

PURCHASEHow can we tell ifpeople are buyingPIZZA SCISSORS as aresult of our socialmedia efforts?

RETENTION Likes/Followers - your audience following your social profile/ seeing your messages Engagement Virality

RETENTION How can we measure the retention of customers of PIZZA SCISSORS through social media?

TOOLS

RECAP / KEY TAKEOUTSSOCIAL MEDIA IS A MINEFIELD OF QUALITATIVE AND QUANTITATIVE METRICS:The key is selecting the right metrics that match your business objectives = ROIPROCESS -1. Set objectives (SMART)2. Establish metrics3. Measure and refineTHINK ABOUT WHERE YOU ARE AT IN THE MARKETING FUNNELWhat stage should you focus on?THERE ARE MANY FREE AND $ TOOLS OUT THERE TO HELP YOU - USE THEMand refine, refine, refine!

@TCOThank you

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