Date post: | 30-Dec-2015 |
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Social Networks
• 16.6% of all online minutes now spent on social networks
• 1 in 5 couples meet online
• If Facebook were a country, it'd be the world's 3rd largest
• 93% of markers use social media
The ROI of social media
• There is a quantifiable ROI
• The truth of the matter is that it's very difficult to measure ROI within social media
• No way to calculate the relationship between a dollar investment in a particular activity and the number of likes
Michael Brito• Media-equivalency equations
unfortunately lead people astrayo Value of a Coca-Cola fan on Facebook or
Twitter isn't equal to the value of a BMW fan on them
• Difficult to determine the value of followership• Brands have to ask very different questions
for their social media campaigns• Aspects to consider:
Tracking trust Purchase decisions influence Seeking new products Getting recommendations
Difficulty With Measuring ROI
Campbell's Kitchen FacebookMission: get more people to use more
Campbells soup products
• Every time someone printed a recipe from Facebook
They made it approx 2.5 times, Used Campbell's soup 1.7 times
• This along with market research is critical in evaluating ROI
Tracking ToolsRadian 6
• Webtrendso measures facebook and mobile
• Twitalyzeo measures twitter activity
• Google analyticso Sophisticated prodcut (free)
• Simply Measured o looks at competitor's engagement to provide
benchmarking
Determining success is Difficult "The jury is still out on the value of fan interaction.
Most people agree that having a loyal, engaged fan base is a good thing -- how good or how valuable compared to other forms of more institutionalized marketing is still debatable."
- Daniel Stein
Founder-CEO Evolution Bureau