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Social Media Strategy, Measurement & ROI Optimization Summits March 23, 2010 Dallas, Texas
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Social Media Strategy,Measurement & ROI
Optimization Summits
March 23, 2010Dallas, Texas
See It
Hear It
Do It
Optimization Summits
‣ Strategic Planning
‣ Move The Needle
‣ Measure Success
Let’s Talk
‣ Strategic Planning
‣ Move The Needle
‣ Measure Success
Let’s Talk
Define Strategic Planning
Describe It Within A Social Context
Determine Where It Fits
Delineate The Process
Develop Measurement Tactics
Do It!
Strategic Planning
Defining Strategic Planning
Image: Dieaugenweide on Shutterstock.com
“A strategic planning process delivers a set of defined initiatives (projects) that achieve a desired set of business goals.”
- Dennis McDonald, Technology Expert
Defining Strategic Planning
Without Planning
Image: Helder Almeida on Shutterstock.com
Warning
Image: Gunnar Pippel on Shutterstock.com
What Is A Plan?
Clearly Defined Goals
Measurable Objectives For Each Goal
Strategies To Meet Objectives
Tactics/Tasks To Accomplish Strategies
Goals
Must Be Singular
Can Be More Than One
To increase website traffic
To increase online sales
To decrease negative online sentiment
To capture consumer insight
To improve search results
Objectives MUST
Be Measurable & Specific
Must Point To One Of Three Things:
Outputs (Content, Products)
Out Takes (Information, Entertainment)
Outcomes (Changes In Metrics) Indicate A Target Audience List An Expected Level of Attainment Identify A Deadline Or Timeframe
- Beth Harte, Marketing Profs
Output Objectives
To create weekly content for Facebook fan page and increase page activity by 20% within six months
To create a Twitter account for e-commerce special announcements for interested followers and realize $5,000 in sales by June 30.
To create an email newsletter for brand advocates and grow the list to 10,000 names by end of year.
Out Take Objectives
To increase positive sentiment in brand mentions on influencer blogs by 25% within six months.
To increase inbound links to blog from traditional media websites by 25 by June 1.
To achieve 1000 mentions of event promotions on Twitter each month
Outcome Objectives
To increase online sales of company reports by 15% within three months
To decrease internal email messages by 30% by April 15
To decrease inbound call center calls by 10% in January
Strategy Supports Objectives
OBJECTIVE
To create weekly content for Facebook fan page and increase page activity by 20% within six months
STRATEGIES
Design expert interview series for video content
Implement fan-generated photo challenge
Develop question of the week program
Strategy Supports Objectives
OBJECTIVE
To decrease internal email messages by 30% by April 15
STRATEGIES
Employ Yammer account for internal company messsages
Establish company SharePoint page for in/out board
Implement Google Docs for file sharing
Tactics Tasks Tools
Sign up for Co-Tweet
Establish accounts for company, assign marketing team access to account
Set up Radian6 with keyword searches and staff contacts for workflow
Train staff on use of Co-Tweet
Develop negative response work flow
Random Picture For Relief
What NOT To Do
Four Fatal Flaws of Strategic Planning
Skipping Rigorous Analysis
Believing Strategy Can Be Built In A Day
Failing To Link Planning With Execution
Dodging Strategy Review Meetings
- Ed Barrows - Harvard Business Publishing
Where Does It Fit?
Overall Marketing Strategy Is Your Guide
Filter That Through Social Media Philosophy
Find Social Insight For Consumer
Build Strategies Around Fulfilling That Need Or Purpose
Image: Luis Francisco Cordero on Shutterstock.com
Putting Theory Into Practice
Best Strategic Plans Are Based On Research
Instead Of Looking For Consumer Insight, Look For Social Insight
What does consumer share?
What social need can we meet?
What gives him/her social standing?
Correctly Identified, Can Drive Whole Strategy
Prove It, Tough Guy!
Image: Drazen Vukelic on Shutterstock.com
Status Dude
Crafted Beer
Males 25-40, Climbers, Status Seekers, Educated, Middle Income+
Target Looks For Male Bonding Moments, Enjoys Time With The Guys, Not About Getting Drunk, Concerned About Image & Health
Image: Zsolt Nyulaszi on Shutterstock.com
Family Builders
Financial Services
Couples, Parents, Educated, Middle Income+
Target Focused On Long-Term Planning, Children’s Success, Safety and Security. Wants Hands-On Approach To Finances But Needs Help. Time Management Critical.
Image: Alena Ozerovai on Shutterstock.com
African-American Mom
Handbags
Ethnic/Minority Females, Middle Income+, 20-40, Independent But Socially Driven
Fashion Important But Must Be Practical, On A Budget But Will Splurge, Enjoys Coffee Time With Girlfriends But Seldomly, Cultured But Not PretentiousImage: Anthony Harrisi on Shutterstock.com
Social Media Strategic Planning
Consumer Insights
You Must Know Your Audience
Anecdotal/Social Media Monitoring Relevant, But Not Exact
Not Just About Your Audience, But Web Audience & Specific Community Audience
Image: Rudyanto Wijayai on Shutterstock.com
Consumer Insights
Pew Internet & American Life Project
Forrester Research ($$)
eMarketer.com ($$)
Compete, Quantcast ($)
Traditional Companies (Nielsen, etc.)
Social Media Tools & Companies
Ask your customersImage: Rudyanto Wijayai on Shutterstock.com
Community Behavior
Understand How General Consumers Communicate On Social Networks
Understand How Brands Communicate Successfully On Social Networks
Understand How Your Customers Communicate With You, Others, Each Other
Image: Courtesy of sxch.hu
Community Behavior
Participate On Social Networks
Study Case Studies & Examples
Trial & Error
AskImage: Courtesy of sxch.hu
Tools & Platforms
Know & Understand The Tools
Think Beyond The Shiny New Object
Research Based On Brand Needs
Tools & Platforms
Use The Popular Tools
Read Industry Blogs
Play
Tools & Platforms
Brand Intelligence
Image: dendong on Shutterstock.com
Social Media Strategic Planning
Image: Luna Vandoorne on Shutterstock.com
‣ Strategic Planning
‣ Move The Needle
‣ Measure Success
Let’s Talk
Dispel Myths Of Puritanism
Talk Reality Of Business
Learn How To Drive Bottom Line
ROI (Or at least my take)
Move The Needle
You Are One
Image: Fonzales on Shutterstock.com
Happy Little Trees
Image: onesoulrebel_photo on Photobucket.com
Photo: Courtesy SXCH.hu
Conversations Don’t Ring The Cash Register
Engagement Alone Doesn’t Sell More Stuff
Hold Hands, Sing “Kumbaya” All You Want, It Doesn’t …
Image: Luminus on Shutterstock.com
Image: Luna Vandoorne on Shutterstock.com
Eric Brown Urbane Apartments
“Did we rent more apartments?”
“Because if we didn’t, the practice of social media marketing is just a hobby.”
A recent conference call with a client talking about social media strategy
The end game for me is,
did we sell more stuff?
Image: Creatista on Shutterstock.com
Image: Luna Vandoorne on Shutterstock.com
Image: Luminus on Shutterstock.com
Bazaarvoice CMOs Group Survey
What’s The ROI of Social Media?
Survey across industries
72% Didn’t attach revenue in 2009 but will in 2010
81% plan to link annual revenues to social media
85% predict a 5-15% impact on their bottom line this year
64% will increase social media budgets
Fastest growing metrics tracked: REVENUE, CONVERSION, AVERAGE ORDER VALUE
Image: Luminus on Shutterstock.com
People still respond to advertising
“People” aren’t social media purists
Your customers and fans know you need to make money
“Remember - it’s not about selling, but helping people buy.” – Chris Heuer
Compendium Blogware Corporate Blogging Study – Dec. 2009
Compendium Blogware Corporate Blogging Study – Dec. 2009
Wiggly Wigglers
Christopher Penn
Indiana Spine Group
Corporate Blog
Direct Calls To Action As Part Of Site
Dell Outlet
Naked Pizza
Dollar General
Blatant Advertising
31,000+ Fans
Three recent posts:
93 Likes48 Comments
Aeropostale
372,000 Fans
Email Signup Prominent
Holiday Gift Guide:84 Comments
413 Likes
Image: Michael Heiber on Shutterstock.com
Image: Courtesy SXCH.hu
Did you give something to your audiencethat enhances their life or online experience?
Did you get something from your audience that can make your business better?
Be Consumer-Centric
Participate
Provide Value
Build Relationships & Trust
Plan for success
Present clear calls to action
Offer opportunities at relevant times/locations
Know that value can also be your product or service
Establish Singular Goals
Set Measureable Objectives To Achieve Goals
Develop Targeted Strategies To Accomplish Objectives
Enumerate Tactics/Tasks To Deliver Strategies
Image: Luminus on Shutterstock.com
‣ Strategic Planning
‣ Move The Needle
‣ Measure Success
Let’s Talk
Return On Investment
ROI is a term of corporate fear
You Measure Return If Your Goal Is $$$
The Answer To “What Did I Get?” Is:
“What Were You Trying To Get?”
What Were Our Goals?
To increase website traffic
To increase online sales
To decrease negative online sentiment
To capture consumer insight
To improve search results
What’s Your ROI For This?
Return On Investment
ROI Is A Business Metric, Not A Media Metric
Measuring ROI of Social Media Alone Is Unwise
Measure It Across Marketing
One Slice Of Marketing Does Not Alone Drive Sales
Return On Investment
What We Can Measure Well (Soft Metrics) Awareness Impressions Comments, Interactions Sentiment, Tone
Hard Metrics Traffic Time on site Friends, Followers, ReTweets Email subscribers, RSS subscribers
Return On Investment
What We Can ALSO Measure Well
SALES TRACKED FROM BLOG SALES TRACKED FROM FACEBOOK SALES TRACKED FROM TWITTER SALES TRACKED FROM E-NEWSLETTER SALES TRACKED FROM WHATEVER
As long as we PLAN to measure it!
Return On Investment
For ROI - Make Your Goals Driven By $$$
Present Clear Calls To Action
Engage, Converse & Share
But Persuade, too
Measure Everything
Don’t Forget
A Plan Is:
Clearly Defined Goals
Measurable Objectives For Each Goal
Strategies To Meet Objectives
Tactics/Tasks To Accomplish Strategies
Identifying Hard and Soft Costs
Monitoring vs. Measurement
Internal Use Cases For Social Media
The X Factors
Discussion Topics
Thank You!
Jason Falls
PrincipalSocial Media Explorer
Email: [email protected]
Twitter: @JasonFalls
Phone: 502.509.4763
Web: socialmediaexplorer.com
Newsletter: socialmediaexplorer.com/newsletter
