- 1. Social Media ROI Process, Challenges and Requirements
Sponsored by: Twitter:#bizcmg Presented by: Jacob Morgan Chess
Media Group December 22, 2009
2. Risk of Ignoring Risk of Ignoring 3. Return on Influence 4.
ROI
5. What is ROI? Gain from Investment Cost of Investment Cost of
Investment ROI = Financial 6. What is ROI?
- If you invested $200k into something and made $500k back 3
months later, is that positive ROI?
7. What If?
8. What is ROI?
- ROI needs to make or save money AND strengthen your brand
- This is why ROI AND Impact are both important!
9. Sales is Not ROI
-
- Especially if it cost $4M to make the $3M
- You can have positive sales and negative ROI
- Must take into account costs/investment
10. I gave you money and I wanted money back, not followers!
Look how many friends and followers I got with that money you gave
me! 11. The ROI Number
- Meaningless without context
- Must understand variables that affect ROI
-
- Presence on social networks
-
- Where should you be putting your money
12. Where do You Invest Your Time and Money? 13. Types of
ROIMake money Save money
- Save on time spent, which translates to dollars
- Save on technology or business costs
- Save on product development costs
- Increase number of customers
- Increase how much customers spend
- Increase how often customers spend
- Increase customer retention
14. 15. Make Money 16. Types of ROIMake money Save money
- Save on time spent, which translates to dollars
- Save on technology or business costs
- Save on product development costs
- Increase number of customers
- Increase how much people spend
- Increase how often people spend
17. Save Money 18. Save Money 19. Save Money 20. 21.
@rmpapag 22. What is Impact?
Non-Financial 23. Lord Kelvin
- W hen you can measure what you are speaking about, and express
it in numbers, you know something about it; but when you cannot
measure it, when you cannot express it in numbers, your knowledge
is of a meager and unsatisfactory kind: it may be the beginning of
knowledge, but you have scarcely, in your thoughts, advanced to the
state of science."
24. Take a Deep Breath Relax 25. Build a Foundation Stop trying
to build this Without starting with this Or you get this 26.
Measurement Foundation
- Doesnt start AFTER a campaign.Its baked into the strategy and
all social business efforts.
Social business strategy Measurement Foundation 27. Breaking and
Building
- Have to break things down in order to build them up again
properly
- New platform, new game, new way of doing things
- Dont justify lack of measurement with old marketing
methodologies
28. Traditional Mediavs.Social Media
- Billboards, print, radio TV
- Customer surveys and polls
- Value measured with eyeballs, traffic, exposure
- Sentiment and conversation analysis
- Value measured in impact and ROI
29. New Game Provided by Biz360 Blogs 20% Discussion
Forums/Boards 10% Micro-Blogs 33% Online News 32% Print News