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IMedia2013 How to Measure Social Media

This presentation shows you how to take social media ROI to the next level from Nichole Kelly, author of How to Measure Social Media
by

Nichole Kelly

on 24 March 2013

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Transcript of IMedia2013 How to Measure Social Media

How to Measure Social Media Align Goals
with Metrics Metrics Conclusion Set up Google Analytics Start Using Custom URL Parameters Optimize Content Work Smarter Not Harder Questions Twitter: @Nichole_Kelly Measure Success Radio TV Online Advertising SEO cost per impression engagement click site visitor inbound
link subscriber Align Social Media
to Business Goals Sales
Revenue
Cost Path to Conversion Social Channel
Website
Opt-in Form
Lead Form
Purchase lead Create a Summary Dashboard @Nichole_Kelly Brand Awareness Reach Impressions Engagement Lead Generation Conversions Leads Sales Customer Retention Retention Rate Cost to Service Revenue Net Promoter Score How To Engagement Software
Web Analytics
CRM Link to Success Custom URL Parameters Level Up Community Management Business Objectives Beach Body Revenue Generated Units Sold Wowy Sign Ups Wowy Upgrades Revenue by Influencer Cost per Site Visit Click Subscriber Sale Dell Engagement Cost per Customer Serviced Resolution Net Promoter Score Propensity to Refer Average Revenue Per Customer Average Purchases Per Customer Average Revenue Per Transaction 12 Month Customer Value Offer Conversion Rate Beach Body Metrics 26,000 mentions
Reach over 1 million with a tweet Dell Metrics 25,000 Conversations per day
Generated $6.5 million in sales Challenge Wanted to empower employees to use social the right way
Wanted to transform into a social business
Wanted to have two-way conversations with customers Solution Built a command center to monitor conversations about Dell
Look for opportunities to enhance customer experience
Provide coupons to interested buyers to drive the sale
Use social to build and extend client relationships Challenge Purchase habits are shifting from TV to the web
BeachBody needed to shift to where the conversation was happening...social networks
But needed to measure results Solution Created strategy to engage online customers
Selected Facebook, YouTube, Twitter, and Flickr as channels
Established a blogger outreach program First call resolution Challenge Product Trials Are Key to Purchase Decisions
3X Use = 2X More Likely to Buy
Wanted to Drive Product Loyalty by Integrating Social Behaviors Solution Integrated Gaming Elements into Trial Product
Created Missions for Users to Complete to Drive Use of Training Tools
Allowed Users to Share Accomplishments on Social Channels AutoDesk Metrics 40% Increase in Trial Usage AutoDesk Cost per Trial/User Engagement Customer Acquired Upgrade Rate Average Revenue Per Customer Average Licenses Per Customer Suite License Conversions Community Members Generated Community Sign Up Revenue Generated 24/36 Month Customer Value Challenge Drive Awareness
Drive Bookings
Engage Ski Audience Solution Begin Engaging skiers on Twitter and Facebook
Provide Updates on Ski Conditions
Show influential skiers at resort With 1% of the Marketing Budget Social Media: Generated almost 500k different forms of engagement
Generated a 128% lift in total impressions
Decreased cost per impression by 23%
Decreased cost per engagement by 82%
Decreased cost per website visit by 86% Case Deflection Why is this SO Hard? We are making it hard Redefining ROI Return on Influence Return on Engagement Return on Conversation Speaking a Foreign
Language New Social Metrics Looking for Answers
in the WRONG Places No SHINY box No Silver Bullet Events Email Public Relations Why Does This Matter More than a third (69%) of CEOs say they have stopped enforcing key business objectives and indicators on marketers because they have “continuously failed” to prove marketing strategies and campaigns delivered business growth - Marketing Week / Fournaise Report The report says that many CEOs have marketing departments “purely out of tradition” and have “made the conscious decision not to expect more from marketing than branding, look/feel good ads and promotions”. Just 20 per cent of CEOs consider their top marketers to be ROI marketers but those that do believe they have a “solid influence” within the organization and could go on to senior management. CEOs think you lack credibility CEOs think you don't understand business CEOs think you are failing CEOs think you are a cost of doing business CEOs don't expect much from you CEOs think you are fluff stealing from the bottom-line CEOs don't think you have influence CEOs don't want you in senior management socialmediaexplorer.com Are You Sure? Big Choices... Sometimes Roses Stink Failure Isn't an Option WECAN Create Something Special Do Things Differently Fix What's Broken Keep What Isn't Know the Difference CHANGE BUSINESS Trying to Correlate the Value of
a Tweet, Like, or Follower
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