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SMMW How to Measure Social Media ROI (45 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 23 July 2013

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Transcript of SMMW How to Measure Social Media ROI (45 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
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
Station Promo
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
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
sales funnel
We don't understand
Advertisers don't understand
Events
Email
Merchandise
Membership Programs
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
Full transcript