Social Media ROI & How To Leverage Fan Behaviour

Go ON...Get Your Phone Out & Tweet Using #twitterman

Meep!

“what Is the ROI of Twitter?”

ROI = (Gain - Cost)

Cost

Return on Investment (ROI) is simply a measure of the efficiency of an investment. ROI = (Gain – Cost)/Cost #twitterman

ROI is Not scary! Its Just the Efficiency of investment

Just Multiply ROI by 100 To Get a percentage

Wahooo!!!

Social Media is Free... So it HAS a Fantastic roi, Right?

Social Media might be free to set up but research, planning, strategy, content creation, monitoring & reporting all costs money #twitterman

mmm...

RESOURCES

There’s No Such Thing As Free LUNCHES

SOCIAL MEDIA (and there’s no cookie cutter approach)

There is no such thing as free social media! It’s your men, your money, your minutes. #twitterman

Two reasons to Use

Social Media For business

Social Media is a platform which can be used to successfully achieve a wide range of business objectives. “Show me the money” #twitterman

1. Make Money

2. Save Money

Intangible Outcomes (non-financial)

On the surface, there may be no immediate “ROI” on Twitter. Some outcomes are not financially based. So, ROI is not found here. #twitterman

On The Surface, There may be no

immediate “ROI” on Twitter.

Instead, Build Long Term Benefits

Which Department

Should “Own” Social Media?

No one department should have full authority over your social media, is your accounts team the only one allowed emails? #twitterman

HR

R&D

Customer loyalty?...

Customer Support

Sales No One Dept

Should...

Get Specific

Get specific with your targets. Give numbers of units you want to sell. This gives your team a problem to solve & an end goal. #twitterman

Give Your Objectives Targets

To Give Your Team Focus

The $1,000,000 Question

Start with the ‘why’. Understand your biz objectives & set MEASURABLE targets. Solve the problem, then go do what you do best. #twitterman

Why?

Shortlist 20 candidates to interview for your

new Social Media roles

Research latest trends to develop

a new product

Engage with 200 existing customers

Make good 30 customer

complaints this month

Sell 1500 more units in Q4

Measurement

"I don't care how many eyeballs we are reaching, unless we are selling stuff.” Can you prove otherwise?.. #twitterman

"I don't care how many eyeballs

we are reaching, unless we are

selling stuff...“

What on Earth Do I Measure?

Followers?

Klout?

RTs?

Meep!

Sentiment?

@replies?

REACH?

"Not everything that can be counted counts, and not everything that counts can be counted." - Albert Einstein #twitterman

Each KPI You Measure Should Relate

To Your Business Objectives!

It's worth remembering that non-financial outcomes ARE worth something. But right now, 50,000 new opt-ins do NOT equate to ROI. #twitterman

Non-financial outcomes

are not ROI !!

And They Can be

Indicators for Future ROI

They tell the story and

Fill the gap between

Investment and return

Listen, Measure, Analyse,

Report & act!

Don't measure and report Social Media numbers just because it’s easy. Measure and report if it means something. #twitterman

Listen

Collect information

that is relevant to your

objectives

Measure

Quantify data

Analyse

Extract actionable insight using focus set

forth in objectives

Report

Regularly deliver actionable

insights against objectives to

all stakeholders

Correlation doesn't mean causation! Remember to validate any relationships you find: links must be proved or disproved. #twitterman

Only Measuring Online activity?

Overlay Social Media Outcomes with

Transactions, Sales Data & Other Metrics

Validate or reject

Any Correlations you find

Tools, Tricks & Tips

"Start where you stand, work with whatever tools you may have at your command and better tools will be found as you go along.” #twitterman

"Start where you stand, work with

whatever tools you may have at your

command, and better tools will be

found as you go along.”

Social Monitoring

Social Media Monitoring... Well... Twitter Advanced Search is underrated http://bit.ly/AdvTwitterSearch #twitterman

Big Boys

Data Friendly

URL Tracking + Goals

Track links back to your site with http://bit.ly/GoogleShortener Shorten with http://bit.ly & Set up goals in Google Analytics #twitterman

http://bit.ly/AnalyticsGoals

http://bit.ly/ScreendripInTheNorth

http://bit.ly/GoogleShortener

http://bit.ly/TrackSocialAnalytics

Google Analytics

Use Google Analytics to segment social traffic that arrives to your site. See how to do that here: http://mz.cm/SocialSegments #twitterman

http://mz.cm/SocialSegments

Measure Influence?...

Popular tools for measuring influence online include http://www.peerindex.com, http://klout.com & http://kred.ly/. But be smart #twitterman

Fan Behaviour

“You need to build trust & relationships before closing a sale.” Non-financial goals are still vitally important to businesses. #twitterman

“You need to build trust &

relationships before closing a sale”

Purchasing from

your website

Fan Behaviour

My research proved that fans who are immersed with brands online were more likely to recommend and purchase from them in future. #twitterman

I’m talking about these non-financial outcomes here

Make people feel good, Immerse them, like they belong...

...And You Increase Likelihood of fans:

Recommending You

to their friends

Visiting Your

Website Longer

Revisiting Your Website

Coldplay

When Coldplay were in the studio recording their new album, they handed their homepage over to their fans’ artwork. #twitterman

Imogen heap

Imogen Heap video blogged the recording of her album, taking on board fan ideas. Her set list is decided by her fans. #twitterman

Key Take Aways

Understand the difference between ROI & non-financial outcomes

How to Measure Social Media

Understand Motivations of “Fans” (or at least, to start thinking about it)

I want you to understand ROI and non financial outcomes, how you should measure social media AND to think about your audience. #twitterman

Ask Yourself If Twitter Is:

Is Twitter making or saving you money? If it’s not doing either, then you’re probably using it wrong. #twitterman

1. Making You

Money

2. Saving you

Money

Suggested reading: http://amzn.to/BookOfROI

Thank You For Listening

I’m Charlie Southwell

Cofounder of

Email: charlie@screendrip.com Web: http://www.screendrip.com

Blog: http://charliesaidthat.com/digital

Come talk to me on Twitter

@charliesaidthat