How to Tie Your Organic Social Strategy to ROI KPIs

Presented: 05.23.2014By: Katy Katz

How to Tie Your Organic Social Strategy to ROI KPIs

@katykatztc #Zenith2014

Inbound Marketing Specialist, Collegis Education

MBA, Benedictine UniversityBSB, Carlson School of [email protected]/+katykatz

Katy Katz

2

Today we will cover

Why metrics are important

What you need to know

How to set SMART goals

Why organic social is still important

How to tie your goals to a business objective

How to bring all your data together

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First things first:

Why care about social metrics Prove that you are spending your time and money

in the right efforts

Verify that you are getting a return on investment (i.e. customer acquisition)

Measure improvements to brand awareness and reach

Demonstrate engagement with customers (answering their questions)


Are you doing it right?

Nearly half of social media marketers report that measuring the ROI results of Twitter efforts are their primary challenge*

Do you know how many leads come from your social efforts?

How many likes equal more profit to your bottom line?

How many likes does one plus equal?

Do your customers get value from engaging with you?


* Source: imediaconnection.com

Don’t start with how to go viral

Set SMART goals for your business Depending upon your business, viral may not be

necessary to reach your goals

Goals should be SMART: Specific, Measurable, Attainable, Realistic, Timely

There are two things that will help you do this: Understanding your customer The scientific method


Importance of personas

Before you do anything you need to understand your customer

Your customers are the essence of your social network

They should be the basis of any campaign you create

Personas are “the aspect of someone’s character as perceived by others”


When you understand your customer

You are able to communicate

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Communication

an exchange of information


If you don’t know your customer

You end up with this…


Communication is imperative

Social media is all about communication

Relationships are a two-way street

Be a good listener

Strive for agile response times

Continue the conversation across modalities


Once you know your customer

You can align their needs with your goals


How do you get there?

The scientific method • Ask a questionPurpose

• Do background research

Research

• Measurable ideaHypothesis

• Test multiple variationsExperiment

• Review the dataAnalysis

• Summarize the resultsConclusionCopyright Collegis Education, Inc. Proprietary and Confidential. 12@katykatztc

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Start with your purpose

What is your SMART goal?

What are you hoping to achieve from this campaign?

Example of a good purpose: I want to INCREASE TRAFFIC to my new landing page

BY 150% in the NEXT 30 DAYS


Specific, Attainable, Realistic

MeasurableTimely

@ katykatztc #Zenith2014

Do some background research

This is the part where you verify your goals are actually achievable and decide how to attain them

Let’s go back to our example: I want to run a Facebook contest to increase traffic to my new landing page by 150% in the next 30 days

What social media platform sends the most traffic to your website?

Are there any keywords that resonate with the campaign? What imagery will resonate with the persona?


Be thorough with your research


American astronomer Percival Lowell built a telescope in 1894 to prove that a desperate Martian race had built “a system whose end and aim is the tapping of the snow-cap for the water there semiannually let loose; then to distribute it over the planet’s surface.”

All because he read an Italian report about “canali” (actual translation is channels). - wired.com

I have a hypothesis


Hy-poth-e-sis

an idea you can test


Here is where your ROI comes in

KPIs should work like a hypothesis Hypotheses are the crown jewel of a scientific

experiment. They are what everything is measured against.

KPI: Key Performance Indicator

Tie your purpose to a measurable business objective.

This is the best way to prove the value of your campaign.

For our example: The Facebook contest will increase traffic to my new landing page by 150% in the next 30 days and drive 150 new customer leads.


Find your baseline

No hot air balloons


Again, keep it realistic. 32.8 million retweets is probably overshooting.

Moz says these KPIs are best: Traffic data Fan/follower data Social interaction data Social content performance

Finally, tie it in to your objective. For your users, find out what shares traffic leads sales

You can get this from past data


Avoid the canali

More ideas for defining KPIs

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Consider customer acquisition costs Community building brand recognition lower barriers to

purchasing Measure the social media engagement for reporting

Narrow your scope Identify micro-conversions as goals; i.e. e-book downloads or

page views to a blog Brand mentions outside your campaign Loyalty visits

Resources from around the web for defining social KPIs Measuring Community: KPIs and Social Media Metrics for Community Bui

lding, Mack Web Solutions

Measure Macro AND Micro Conversions, Occam’s Razor Social KPI Goals Worksheet for ROI – Focused Marketers@katykatztc

#Zenith2014

http://mackwebsolutions.com/2013/08/measuring-community-kpis-social-metrics-community-building/



http://www.kaushik.net/avinash/excellent-analytics-tip-13-measure-macro-and-micro-conversions/

http://www.kaushik.net/avinash/excellent-analytics-tip-13-measure-macro-and-micro-conversions/

http://www.aimclearblog.com/2012/11/19/social-kpi-goals-worksheet-for-roi-focused-marketers/

Experiment

Execute multivariate campaigns Test multiple

strategies for your campaign (vary the color, text, etc. and go with the winner)

Measure throughout the process and make changes

With over 684,478 pieces of content shared on Facebook each day, you have to stand out to your persona


Facebook hasn’t killed organic…yet

Tips for cracking the organic code A celebrity won’t make you go viral, so let’s try

something else (Unruly)

Tap into human psychology, people like content that Makes us feel good Comes easily Stretches our brain Inspires curiosity

Pick the right time of day (Study shared by ragan.com)


Gives us answers Shares good news Surprises us Tells a story

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Measure, measure, measure

Data, Data, Data Measure results with a common language

Applause – pluses, favorites, likes, etc. Amplification – social shares Conversation – comments, threads, etc.

Find a tool that works for you (i.e. True Social Metrics)


The conclusion

Compile your results Track your campaign like a case study

Report the positive and negative outcomes of the campaign

Our old example friend: I used a Facebook sharing contest to increase traffic to my new landing page by 225% over a 30 day period and drove 165 new customer leads through the campaign.

Did you meet your objective?

What did you do well? What could you have done better?

Take your learns for the next campaign so that you are always improving.


Make it count

Report your results Report your results in a professional

communication document (i.e. memo, executive summary) This is for management and for planning future strategies

Separate the platform results but use consistent language Show the data alongside your conclusions Identify when to use each platform for your business needs

Prove innovation What tools worked and didn’t What trends do you recommend following

Plan your next move


Key Takeaways

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Organic social strategies are an important phase of the business cycle but they must be structured as a conversation

Identify the right metrics for your business and use them as the basis for your marketing plan

Set SMART goals that meet your business objectives

Follow the scientific method and you will always end up with KPIs that add value to your business

Thank you!

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How to Tie Your Organic Social Strategy to ROI KPIs

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