An Approach to Social Media ROI
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1 ©2012 MarketBridge Corp. – 1 – Building a Case For ROI SOCIAL MEDIA How to Find a Return on Investment in Social Marketing Strategies 4350 East West Highway Bethesda, MD 20814 240-752-1800 49 Stevenson St, Suite 660 San Francisco, CA 94105 415-986-5800 www.market-bridge.com @marketbridge Lane Douglas Principal Social Media Solutions MarketBridge
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Session at LTX in Vegas (Nov. 2012) discussing an approach to discovering ROI in social media
Transcript of An Approach to Social Media ROI
1 ©2012 MarketBridge Corp. – 1 –!
Building a Case For
ROI!SOCIAL MEDIA!How to Find a Return on Investment in Social Marketing Strategies!
4350 East West Highway Bethesda, MD 20814 240-752-1800!
49 Stevenson St, Suite 660 San Francisco, CA 94105 415-986-5800!
www.market-bridge.com @marketbridge!
Lane Douglas!Principal Social Media Solutions MarketBridge!
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SOCIAL GOES MAINSTREAM!
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Social networking continues to grow!Social media continues to dominate overall Internet usage!
Paradigm Shift!Social media constitutes a paradigm shift in how our culture consumes and shares information. This is no longer the ‘MySpace’ era where teens used social media to share music. This is now a gender, age and ethnicity agnostic trend shown by the growing number of users and increasing amount of time spent on social sites.!
Source: comScore!
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Facebook remains largest platform!Facebook slated to reach one billion users by August 2012!
Facebook continues to be king among competitors!While the competition for 2nd place remains fierce between Twitter, LinkedIn and Google+ (all around 1M users) Facebook is slated to reach the coveted 1 billion mark late this year.!
Source: comScore!
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Social networking continues to grow!Social media continues to dominate overall Internet usage!
Paradigm Shift!Social media constitutes a paradigm shift in how our culture consumes and shares information. This is no longer the ‘MySpace’ era where teens used social media to share music. This is now a gender, age and ethnicity agnostic trend shown by the growing number of users and increasing amount of time spent on social sites.!
Source: Go-Gulf.com!
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Facebook remains largest platform!Facebook slated to reach one billion users by August 2012!
Google no longer dominant!In March of 2010, Facebook surpassed the search goliath Google as the most visited site. While Google maintained a steady 6% market share of traffic, Facebook went on to claim as high as 11% by October of last year.!
Source: Hitwise!
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Search continues to search !Google continues attempt to reinvent itself!
Eric Schmidt!Former CEO!Google, Inc.!
“To hear Mr. Schmidt tell it, the real challenge is one not yet on most investors' minds: how to preserve Google's franchise in Web advertising, the source of almost all its profits, when "search" is outmoded.… As Mr. Schmidt succinctly puts it, ‘We're trying to figure out what the future of search is.’”!!
The Wall Street Journal!August 14, 2010!
“Search is Outmoded,” Google’s Former CEO Admits!
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This advertising platform is even more powerful now that the site can factor in your friends' preferences. If three of your friends click a Like button for, say, Domino's Pizza, you might soon find an ad on your Facebook page that has their names and a suggestion that maybe you should try Domino's too. Peer-pressure advertising! Sandberg and other Facebook execs understand the value of context in selling a product, and few contexts are more powerful than friendship.!!"Marketers have known this for a really long time. I'm much more likely to do something that's recommended by a friend," Sandberg says.!
"Few contexts are more powerful than friendship."!
TIME Magazine!May 31, 2010!
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Search continues to search !Impressions in ad spend losing viability as a metric!
Google not a CRM!Despite the billions of dollars spent in search and PPC-related campaigns, the end result is still simply a “visit” or a “click.” Nothing beyond vague demographics is actually captured.!
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Social media captures people... Not clicks!In social media, traffic to your platform gives collected data!
Facebook “Likes” changes the game!Capturing a “Like” means you have actually collected that individual as a part of your social community and can analyze their social graph for insights.!
Education, employment and locale!
Sharing information and brand “Likes”!
Friends profile information!
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Organic Search Ad Placement
PPC
Traditional Traffic Predominantly (>50%) from search. Traffic from ad placement and PPC directed to specials, packages and events.
TwiDer
Social Media Traffic Predominantly (>50%) from search. Traffic from ad placement and PPC directed to specials, packages and events.
Website Primary landing pages include the homepage, room pages and specials and offers.
Booking Engine
Correlated Conversions Success of any traffic or campaign determined by visitors entering booking engine. Not verified against actual room sales reports.
Dropped Traffic Number of visitors leaving the booking engine without a transaction taking place is vague.
The marketing engine 5 years ago!
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The marketing engine 1 year ago!
Organic Search Ad Placement
PPC
Traditional Traffic No longer as prominent a driver in traffic, resources are minimized and reallocated to social streams of traffic.
TwiDer Twitter is utilized as a Customer Service Management (CSM) tool. Utilizing an enterprise-ready client (CoTweet/Hootsuite), staff is trained and required to interact with loyalty-base.
Based on Analytics 2.0, the concept of a homepage is surrendered and the site is, instead, thought of as a collection of homepages based on user interest and highly-refined ad placement tactics.
Website
Booking Engine
Facebook Social Site Built as a separate, conversational-type site, it allows users to register and leverage their Facebook accounts.
Social Traffic Studies show that social traffic is better leveraged when pushed to a blog-based site with context and discussion as opposed to offers and specials only.
Social Team Deployed
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The marketing engine currently!
Organic Search
Ad Placement
PPC
Traditional Traffic No longer as prominent a driver in traffic, resources are minimized traffic. and reallocated to social stream.
Twitter Twitter is utilized as a Customer Service Management (CSM) tool. Utilizing an enterprise-ready client (CoTweet/Hootsuite), staff is trained and required to interact with loyalty-base.
Website!
Facebook!
Offers Contests, sweepstakes and other incentive based methods of fan-acquisition.
Social Site (Content)
Deals
YouTube
Exclusive deals made available only to those within the social community. Drives loyalty and marketing.
Booking Portal
STAFF
News, celebrities, photos. This is the interactive part of the site.
With Facebook and Twitter allowing video to be embedded in their streams, multimedia “comes-of-age” in social media terms. Video becomes a very real way to market your business.
Media Channel
Messaging Channel
STAFF
STAFF
STAFF
STAFF
STAFF
STAFF STAFF
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B2B Services August 2011
B2B Products February 2012 18%
13%
August 2009
17%
August 2010
17%
August 2011
19%
August 2012
Social marke9ng spend will con9nue to demand more of your budget
Spend conLnues to increase year-‐over-‐year as social media conLnues to take an ever-‐increasing porLon of the overall online markeLng budget. This means that it is not “IF” you should invest, but rather “HOW MUCH” and “WHERE” you should invest.
B2B Products August 2011
B2B Services February 2012
13%
18%
19%
* Survey done by CMOSurvey.org. Survey Sample: 4674 Top US Marketers at Fortune 1000, Forbes Top 200 and Top Marketers who are AMA members or Duke University Alumni and Friends. 531 responded for a 11.3% response rate. 86% of respondents VP-‐level or above.
Q: What percentage of your overall marke9ng budget do you expect to allocate to social marke9ng in the next 5 years?*
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47%
* Survey done by Pivot in conjunc9on with Al9meter Group and Hudson Group. Survey Sample: October 2012 survey. 185 brand managers, marketers and directors surveyed for the Pivot Conference .
Budget
Unclear outcomes
Absence of clear social strategy for brand
Lack of understanding benefits of social media
Execu9ve skep9cism
Lack of metrics
Lack of cross func9onal support
Other
45%
42% 39% 39%
37% 25% 25%
Lack of clarity, metrics to show ROI keeping social from corporate mainstream
Q: What prevents your organizaLon from moving beyond experimentaLon in social markeLng ?*
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THE METRICS DILEMMA!
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Yeah...!We Get Your Pain!
While social media has widely been accepted as a mandatory channel for marketing, it has not necessarily matured. Marketers agree that trying to compute the value of a Facebook “Like” or a Twitter “follower” can be terribly difficult. On a whole, social media metrics suffer from many complaints to include... • Not easy to communicate at the executive level • Unable to gage competition effectively • Lacking industry-specific relevance • No clear association to ROI If you’ve voiced any of these, we’d like to show you something.
measuring social media roi
you’re kidding, right?
Press Enter to search.
While the search for a better social metric system might be frustrating, it is not futile.!
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Just because they “Liked” you...!doesn’t mean they like you.!
The value of a Facebook Like, as with many social media metrics, can be completely arbitrary when lacking any appropriate context. In a study of the travel industry*, MarketBridge found that Cancun, while far outdistancing a carefully defined competitive set in Facebook Likes, was seriously deficient in overall brand sentiment. Simply put, growing a social community does not automatically translate into social media success. 1!
MARKETBRIDGE!SQ INDEX!
In a comparison of overall Facebook Likes, Cancun far outdistanced virtually all competitive destinations by almost 100,000 Likes.
Facebook Likes Metric High!
Despite having the volume of community, Cancun’s sentiment in social discussions was significantly lagging behind those with smaller social communities.
Brand Sentiment On Lower End!
* The analysis was done over a 30 day period during the Fall of 2011. Destinations were measured based on the social media efforts of their respective Conference & Visitors Bureaus. Radian 6 was used to determine overall brand sentiment.
Without the right context or analysis, many social metrics are misleading!
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Facebook “Likes”!USVI Performs Poorly!Based on this metric, we would assume that the USVI was doing poorly in their marketing efforts and that visitors to the islands cared little to actually attach themselves to the social community.!
The Metric...!
Showing a brand’s Facebook fan base in comparison to their competitors is of little value given it’s temporal nature.!
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Facebook Rate of Growth!
USVI Showing No Strategy!The ROG metric does not present the USVI in any better light. What we do notice, though is that Cancun seems to be showing a fairly recent marketing strategy push.!
The Metric...!
Jamaica
Cancun
Bahamas Aruba
Bermuda USVI
Riviera Maya
The Rate of Growth (ROG) is slightly better than the simple “Likes” comparison since it gives evidence of who is actually implementing a strategic plan as opposed to those just maintaining a presence.!
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Twitter Followers!
USVI at bottom of barrel!When looking at Twitter, our opinions of USVI’s efforts in social drops even more. Of the entire Caribbean set, they are dead last.!
The Metric...!
1,425&
1,955&
2,677& 2,872&
3,635&
4,343&4,685&
0&
500&
1,000&
1,500&
2,000&
2,500&
3,000&
3,500&
4,000&
4,500&
5,000&
USVI& Bermuda& Aruba& Riviera&Maya& Bahamas& Cancun& Jamaica&
Of all the metrics one can look at, the number of followers on Twitter is the least valuable given it is incredibly fluid and can grow without any effort on the part of the brand.!
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Twitter Rate of Growth!
USVI not even tracking!
Similar to the Facebook ROG metric, this allows us to see who is employing a strategy versus those simply maintaining.!
The Metric...!
Jamaica Cancun
Bahamas
Aruba
Bermuda
Cozumel
USVI
In this graph, according to this metric, USVI has apparently only recently entered the Twitter race. Conversely, Cancun again shows to be the most aggressive in their marketing efforts.!
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Brand Sentiment!
USVI leads the competition!
Brand sentiment looks at the total volume of mentions of the brand and then segments them according to positive or negative connotations.!
The Metric...!
When we change the metric we are reading, suddenly the tables turn. Now we see a different story. While volume is low, we learn that customer satisfaction is immensely high.!
94%$ 91%$ 90%$85%$
81%$ 78%$74%$
70%$
6%$ 9%$ 10%$15%$
19%$ 22%$26%$
20%$
0%$
10%$
20%$
30%$
40%$
50%$
60%$
70%$
80%$
90%$
100%$
US Virgin Bermuda Riviera Maya
Cozumel Bahamas Cancun Aruba Jamaica
Source: Radian6 Technologies
Time Period Set For Results: August 22, 2011 – September 22, 2011
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SOCIAL MEDIA RESULTS IN MATURATION OF REPUTATION MANAGEMENT
4 DAY RESPONSE
TIME
OCT 07 2010
OCT 08 2010
OCT 10 2010
OCT 09 2010
RT “First chilean miner surfaced! Says he doesn’t
like Gap logo.”
Social World Explodes GAP unveils new logo on
GAP opens crowdsourcing contest for new ideas
GAP admits faux pas and
announces old logo to
return
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Key Performance Indicators!
You$
A$
B$
C$
D$
Share of Voice
Share of Conversation
The weight, or percentage of volume your brand has against the cumulative volume of all discussions involving your brand as well
as your competitors.
Defined as the degree to which you are addressing the problems you set out to solve.
A metric of the percentage of discussions inside your defined industry that mention your brand.
Beyond growing a community to market to, there has to be a starting point of reference to determine whether your efforts in the social space are lining up with your overall goals and objectives.
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Share of Voice!
USVI Ranked Third in Brand Mentions!
The Metric...!
Despite having a low following, the overall mentions of the USVI is actually fairly high. Of note is that the converse is true of Cancun. Despite such aggressive social tactics, brand mentions are terribly low.!
The weight, or percentage of volume your brand has against the cumulative volume of all discussions involving your brand as well as your competitors. Time Period Set For Results:
August 22, 2011 – September 22, 2011
Source: Radian6 Technologies
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Share of Conversation!
The Metric...!
Defined as the degree to which you are addressing the problems you set out to solve. A metric of the percentage of discussions inside your defined industry that mention your brand.
Travel Industry USVI
Brand
Time Period Set For Results: August 22, 2011 – September 22, 2011
Source: Radian6 Technologies
USVI Still has massive room for growth!Share of Conversation (SOC) is a more significant metric in social media since it actually shows how well you are doing against your personal goals as opposed to simply how well you measure against your competitors. This slide measures the amount of conversations in social media happening around vacation and trip planning in the U.S against those that talk about the USVI. Essentially, it means that less than 2% of vacation discussions in the U.S. is talking about the USVI.!
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MAPPING ROI!
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Mapping Social Metrics to Business Goals!
A means to an end!Social marketing cannot be an end unto itself simply because others are doing it. It has to map to larger business objectives.!
1 Improve Mexico Brand Image 2 Increase Online
User Experience 3 Increase Visita9on & Revenue
YOUTUBE
SOCIAL REPUTATION
YOUTUBE
SOCIAL REPUTATION
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Measuring overall Facebook Effectiveness!Each Facebook metric is given a weight factor dependent on the client’s goals. This is then factored into how we measure the overall effectiveness of the Facebook channel.!
TOTAL LIKES NEW LIKES UNLIKES RATE OF GROWTH
MONTHLY ACTIVE USERS
POST FEEDBACK
POST VIEWS EDGERANK TALKING ABOUT THIS
VIRAL REACH
Number Comments & Likes on Your News
Feed content.
Number of Lmes people viewed a News Feed story on your
page
Likelihood that the Page’s content will show up in user’s
News Feed.
Number of unique people who created a story about your page.
Unique people who saw a story published
by a friend.
Total number of users currently “Liking” the
page.
49.3K 42K 1.2K 660% 51K
9.3K 71.3K 3.8K 502K 16
Number of new “Likes” added against previous
Lme period.
Number of users un-‐liking the page against
previous period.
Pace of new Likes addiLons against set
Lme period.
Number of people who have interacted with
your page.
W=n% W=n% W=n% W=n% W=n% W=n% W=n% W=n% W=n% W=n%
P P P
P Designates a metric
publicly available for all Facebook accounts
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Measuring overall Twitter Effectiveness!Each Twitter metric is given a weight factor dependent on the client’s goals. This is then factored into how we measure the overall effectiveness of the Twitter channel.!
P Designates a metric
publicly available for all Facebook accounts
FOLLOWERS NEW FOLLOWERS
RATE OF GROWTH TWEETS RETWEETS
MENTIONS LISTED CLICKS TWEET BUTTON
KLOUT Number of Lmes the account username was
tweeted
Number of Lmes the account has been
listed by other users
Total clicks into website originaLng
from a tweet, retweet or menLon
Number of clicks originaLng from a tweet buDon
Measure of aggregate influence
Total number of people who have opted to follow the
account
8.8K 311 3.7% 23 30
3 40 50 408 16
Number of new followers since last
measurement
Measured as factor of growth against a set
Lme period.
Tweets actually posted by the master account
over Lme
Number of Lmes original tweets were
retweeted
W=n% W=n% W=n% W=n% W=n% W=n% W=n% W=n% W=n% W=n%
P P P P
P P
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1 Improve Mexico Brand Image 2 Increase Online
User Experience 3 Increase Visita9on & Revenue
FACEBOOK Total Likes Unlikes Post Views
EdgeRank Talking About This Viral Reach
YOUTUBE
SOCIAL REPUTATION
Followers Rate of Growth Tweets
Retweets MenLons Klout
Channel Views Channel Comments
Subscribers
Volume SenLment
FACEBOOK New Likes Rate of Growth
Monthly AcLve Users Post Feedback
YOUTUBE
New Followers Listed
Clicks Tweet BuDon
Playlists
SOCIAL REPUTATION Share of Voice Share of ConversaLon
Mapping to Business Goals & Objectives!From a summary viewpoint, the following shows how the various KPI’s for each individual channel can be broken out and applied against each primary goal as an integrated metric.!
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MARKETBRIDGE STRATEGY!
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The Social Metrics We’re Scoring!
As previously mentioned, many of the metrics individual social channels present are relevant only to your performance on that specific network, and not to your business performance objectives. The SQ Index combines these metrics and determines BOTH how they relate to one another as well as how they relate to your objectives and marketing goals.
Facebook Likes Business page
Likes at end of time period!
Talking About This Shares, Likes and
Comments on Business Page!
Upstream % Amount of traffic
Facebook is sending to your
website!Downstream % Amount of traffic
Facebook is receiving from your
website!
Rate of Growth Analysis of growth rate over 90 day
period!
Followers Capture of follower count at end of time
period!Rate of Growth Analysis of growth rate over 90 day
period!
Listed Number of Twitter
Lists username has been added to!
Men9ons Number of times user has been
mentioned over 90 days!
ReTweets Number of times
user was retweeted over 90 days!
Klout Score Capture of Klout
influence score at end of time period!
Media Satura9on Positive mention
volume in mainstream news!
Extended Twicer
Twitter Follower reach from overall
Twitter volume!
Share of Voice Comparison of social volume
against competitors!Share of
Conversa9on % of industry conversations
reached!
Twicer Volume Measure of overall posts segmented to
Twitter!
Facebook Volume Measure of overall posts segmented to
Facebook!
Inbound Links Number of links coming to blogs
mentioning brand!
Posi9ve Sen9ment Percentage of
volume indexed as positive towards
brand!
Number of Group Members
Number of followers to corporate profile!
Rate of Growth Page Followers
Number of employees in organization!
Unique Visitors Monthly new
unique visitors to your website!
Company Followers Number of followers to corporate profile!
Rate of Growth Group Members Number of followers to corporate profile!
Product Recommenda9ons
Number of followers to corporate profile!
Number of Employees
Number of followers to corporate profile!
Upstream % Number of followers to corporate profile!
Downstream % Number of followers to corporate profile!
% Seniority of Group Members Number of followers to corporate profile!
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Facebook Likes Business page
Likes at end of time period!
We’re covering every aspect for important web and social metrics
-‐ 6 -‐
Paid Media Upstream % Amount of traffic
Facebook is sending to your
website!
Share of Conversa9on
% of industry conversations
reached!
Owned Media
Earned Media
Major metrics publicly available for each brand’s personal social networks.!
Metrics relating to the effects of social ad spend and sponsored content.!
Measure of the brand’s reach and sentiment through organic social media.!
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DIRECT!REACH!
Measure of immediate fans and followers in
owned networks!
POTENTIAL!REACH!
Extended audience not necessarily in owned
networks!
ENGAGED!COMMUNITY!
Degree to which social community interacts with
and promotes brand!
INDUSTRY!IMPACT!
Measure of how much social conversations is impacting the industry!
BRAND!SENTIMENT!
Measure of the consumer opinion of the brand inside
social conversations!
SOCIAL!ACCESSIBILITY!Ease with which people
can reach the brand through social channels!
CONVERSION!POTENTIAL!
Viability of the social media space to
generate conversions!
SOCIAL!INFLUENCE!Measure of social channel motivating
others towards action!
COMMUNITY!DEVELOPMENT!
Measure of intentionality of brand to cultivate an
engaged community!
DR! PR! EC!
II!
BS! SA! CP!
SI! CD!
The “Social Nine” Performance categories that translate social metrics to ROI
Most corporaLons hold back from moving significant
markeLng dollars into social media due to lack of metrics that truly speak to exisLng business
objecLves.
The SQ Index’s nine categories group and integrate core metrics from prominent social networks
and present their values in execuLve-‐level language.
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Why!
SOC
IAL!
Which!
METR
IC!
MarketBridge!
STRATEG
Y!M
apping!R
OI!
Follow!
UP!
Facebook Likes
Facebook People Talking About This
TwiDer Followers
Extended TwiDer Followers
Overall TwiDer Volume
Overall Facebook Volume
Inbound Links
Company Page Followers
Specialized Group Members
Employees on LinkedIn
% Seniority of Group Members
10%
5%
20%
10%
5%
5%
5%
10% 5%
20% 5%
POTENTIAL!REACH!
Potential Reach is defined as the number of possible viewers the
brand was able to extend it’s message to during the period
measured. Weights change based on industry and market.!
PR!
How we score our categories
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38
Why!
SOC
IAL!
Which!
METR
IC!
MarketBridge!
STRATEG
Y!M
apping!R
OI!
Follow!
UP!
The benchmark analysis is an objec9ve and relevant scoring among compe9tors
+
Each brand is given an overall score to display compeLLve ranking among compeLtors. The stacked bar format then allows for you to see how well
each brand performed in each category as well to immediately assess areas of strengths and
weaknesses.
Gain instant insight into how you measure up
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Our nine categories directly relate to a sales process you already understand
REACH ENGAGE CONVERT EXPAND
DR!Direct Reach
PR!PotenLal Reach
EC!Engaged Community
II! Industry Impact
BS!Brand SenLment
SA!Social Accessibility
CP!Conversion PotenLal
SI!Social Influence
CD!Community Development
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Why!
SOC
IAL!
Which!
METR
IC!
MarketBridge!
STRATEG
Y!M
apping!R
OI!
Follow!
UP!
FOLLOW UP!
5W
hy!SO
CIA
L!W
hich!M
ETRIC!
MarketBridge!
STRATEG
Y!M
apping!R
OI!
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UP!
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Lane Douglas Principal, Social Media SoluLons Direct: 240-‐752-‐1835 Email: ldouglas@market-‐bridge.com Twicer: @lanedouglas
Interested in More? You can’t manage what you can’t measure.
The SQ IndexTM does both.
