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Social Media ROI 2010

Date post: 21-Jan-2015
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An old deck for when I worked with Silverstone. An explanation of measuring the success of social media with their audience
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Social Media Return On Investment February 2010 Emily Wilkinson
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Page 1: Social Media ROI 2010

Social Media Return On InvestmentFebruary 2010Emily Wilkinson

Page 2: Social Media ROI 2010

“Think of Twitter as the canary in the coal mine.”

Source: Morgan Johnston, Jetblue Airways

Page 3: Social Media ROI 2010

Why allocate budget to Social Media?Social Media (SM) is not free, it takes:

People Technology Time

Marketing, sales, accounts, I.T, PR etc. make up 100%of your budget – each resource has a specific cost andyields specific results. These resources generate 100% of your business.

Page 4: Social Media ROI 2010

Why should I take a chance?

Why should I allocate resource to it? It will result in a cost reduction (customer service,

market research) It will generate more revenue (via transactions,

new customers, customer loyalty

ROI = Gain from investment – cost of investmentcost of investment

Page 5: Social Media ROI 2010

Business Justification

ROI is a business metric, not a media metric. Social mediaisn’t responsible for an increase or change, it is a tool.Similar to suggesting that the telephone helped sales. Thatsaid:

The engagement conducted via social media that can be measured.

The transactions and behaviours can be measured Measurement of all activities and benchmarking Poll customers, promo code seeding across a variety of

channels etc.

Page 6: Social Media ROI 2010

Investment-return relationship

Page 7: Social Media ROI 2010
Page 8: Social Media ROI 2010

Impact of social media on non-financial

Page 9: Social Media ROI 2010

It’s not just about measuring eyeballs..

Reporting should show that social media is impacting every aspect of the business (and areas it isn’t

impacting, how can we have an effect there?)

Page 10: Social Media ROI 2010

Steps Goals

Before we set out to measure and monitor, we need a clear idea of what we want to accomplish. E.g. If the goal is to increase social media mentions, where does Silverstone currently stand now?

Tools Although ROI doesn’t not equal metrics, traditional metrics such as

traffic counts, number of comments, twitter followers, FB fans etc are important when calculating ROI.E.g. Does an increase in FB fans correlate with higher sales? Are people that find Silverstone.co.uk from Twitter then clicking on your driving experiences?

Page 11: Social Media ROI 2010

Steps

Sentiment Sentiment is a useful baseline to look at before implementing or

changing social media. Is it negative or positive that is being said?

Page 12: Social Media ROI 2010

Steps

Using the data Once we have the initial baseline data and the

metrics, we can then see how these correlate to higher sales, better customer retention etc.E.g. Have sales levels increased? Check no. of referrers on the website, twitter, facebook, no. of vouchers given away and calculate what stemmed from social media campaigns. Is there an increase in traffic after posting on FB? Twitter? Does a higher sentiment lead to an increase in sales?

Page 13: Social Media ROI 2010

Example 37% of Gen Y were aware

of the Ford Fiesta via social media before its launch in the US

25% of Ford marketing spend is on digital/social media

Page 14: Social Media ROI 2010

Example £9.5k SM investment 300% website traffic increase 20% sales increase Google 1st page for “free

website builder”

Page 15: Social Media ROI 2010

“Why are we trying to measure social media like a traditional channel anyway?

Social media touches every facet of business and is more an extension of

good business ethics”

Source: Erik Qualman, Socialnomics

Page 16: Social Media ROI 2010

Thank You

Emily Wilkinson@ewilko

Ewilko.wrodpress.com


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