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How to Measure Social Media ROI (20 Min)

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 15 November 2012

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Transcript of How to Measure Social Media ROI (20 Min)

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 Public Relations Radio TV Online Advertising SEO cost per impression engagement click site visitor inbound
link subscriber Executives live eat breathe 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
Marketing Automation
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 Trying to Teach Executives Looking for Answers
in the WRONG Places No SHINY box No Silver Bullet sales funnel
Full transcript