ROI of an Elephant
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![Page 1: ROI of an Elephant](https://reader034.fdocuments.net/reader034/viewer/2022052321/55513082b4c905f1528b502c/html5/thumbnails/1.jpg)
What’s the ROI of Social Media?
You might as well be asking what’s the ROI of an elephant...
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Social Media and ROI: A Little Bit of Clarity —Oliver Blanchard
“The question, then, is not what is the ROI of social media, but rather what is the ROI of [insert activity here] in social media? In fact, to ask the question properly, you have to also define the timeframe. For example: What was the ROI of [insert activity here] in social media for Q3 2011?”
Are you asking the right question?
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First can you tell us, why an elephant?
Why did you recruit a 12,000 pound pachyderm with a penchant for peanuts?
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Before you plan a campaign
Envision your elephant...
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Is he stationed at the front of the mall
bedecked in satin and tassel signage?
Brand VisibilitySpecial Promotion
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Is he giving little children rides on
his back?
Creating goodwillPhoto ops on FacebookLocation check-ins on Foursquare
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Is he a crowd pleaser—causing
quite a stir?
Fingers and tweets fly about “Monty the Magnificent”
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What is this campaign about? {strategy}
Promote an event?Build a Facebook community?Introduce a new product?
What results do you want to see? {goals}
Increase brand visibility?Reduce customer service cost?Increase sales?
With expectations and benchmarks set, you can now fill your cup with statistical goodness.
Define and Align
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Your promotion caused a lot of commotion—but was it successful?
Answer: If you just look at the $$$ gained, you’re missing a HUGE part of the picture
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Now, how do you measure that?
Qualitative measurement
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It’s not always black and white
I’m talking to youYou’re talking backYou tell your friends I’m coolYour friends now want to meet me
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Hold please...
What’s the ROI of NOT having a conversation?
“@prsingleton: Clear cost of not engaging in Social Media is being perceived as a flat-earther. #socialchat”
“The ROI of social media is your business will still exist in 5 years” —Erik Qualman
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Filling your cup with statistical
goodness
Your metrics are informed by your goals. It’s up to you to make your own brew.
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Nitty gritty weights and
measures
• Brand Awareness• Social Reach• Frequency• Audience
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Brand Awareness
• Monitor conversations• Hootsuite & TweetDeck• Google Alerts • Twitter lists• Hashtags
• Exposure• How many platforms are you on?
• Social ranking• How visible are you online?
Who is talking about your brand, where, and how often?
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Social Reach
• Number of followers• How many subscribers, fans, followers
circles and lists?
• Performance• Which channels are most active?• Which posts are most viewed?
• Growth• Are you up or down from last month?
How large is your community and is it growing?
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Frequency
• Engagement• How often?
• Number of RT’s, mentions, shares, comments, likes
• Who with?• Influencers? {Reporters, industry experts,
community leaders, CEO’s}
• Unique visits• Facebook Insights, Google Analytics
When you talk to people are they talking back?
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Audience
• Demographics• M/F, age, country, zone
• Behaviors• Best time of day {Time.ly}• What type of posts get the most response?
What elicits a response?
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Great tools!
• Hootsuite• Basic plan & quick analytics {$5.99/mo}
• Customized reports for additional cost• TweetDeck• Sprout Social
• At a glance monthly report {$5.00/mo}
• New Facebook Insights• Google Analytics & Alerts
• Twenty Feet• Twit Sprout• SocialOomph• Webtrends• Social Argyle• Social Bakers
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“Not everything that counts can be counted, and not everything that can be counted counts.”
So true Al... It’s what moves the needle that counts!
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Stay in touch
Wahine Mediaweb: wahinemedia.comblog: wahinemedia.com/wahineblogfacebook: facebook.com/wahinemediatwitter: @wahinemedia
Karen Weikert@karenweikert
Gwen Woltz@gjwahine
Link to slideshow:http://www.slideshare.net/wahinemedia