Date post: | 17-Sep-2014 |
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THIS AIN’T NO PICNIC
THE ROI AND ROP OF SOCIAL MEDIA
THE EXPERIENCE
BEING FIRST SUCKS
THE GOOD NEWS
90% OF THE COMPETITION ISN’T DOING THIS either
OMG, THEY’RE TOTALLYDOING IT!
NOT DOING IT
ONE MORE 90/10 RULE
WANT THIS? GET THIS.
YES, I’M A SENIOR ANALYST.
YOUR OLD ROI PROBABLY SUCKED ANYWAY
1.4-1.6XROI
2-10X
TOOLS AND SOFTWARE
TALENT AND TRAINING
}your social media budget
IS IT WORTH SPENDING $70K/YEAR TO BUY
SOFTWARE TO MONITOR THE SOCIAL WEB?
FREE IS GOOD.GOOGLE
QUANTCASTCOMPETE
ROI = A MULTIPLIER OF DOLLAR AMOUNT WE
SPENT
ROP = THE MULTIPLIER OF THE CONVERSATION
+ + =45
RESPONSES
ROP =
HOW MUCH TALKING HE DID
HOW MUCH TALKING THEY DID
ROP =
16 THINGS
45 THINGS
ROP = ABOUT 2.8X
ROI =
$78 SALARY+ TOOL COSTWHATEVER THE TALKERS
BOUGHT
$384
$78ROI =
ROI = ABOUT 4.9X
WHATARE YOU
FEEDING THEM?
1-2 INTERNSA PHP PROGRAMMER AND MAYBE A
SMALL ERP SYSTEMKNOWLEDGE OF ALL
SOCIAL WEB ACTIVITY PURSUED BY YOUR
BRAND
141K+ FRIENDS
2K COMMENTS
ENGAGEMENT METRIC: 14%
ROP: HIGH-LEVEL
ENGAGEMENT: 200xLOW-LEVEL: 510X
ROI =
SALARY+ TOOL COSTWHATEVER THE TALKERS
BOUGHT
EMAIL 100 OF THEM AND ASK THEM HOW OFTEN
THEY GO TO JACK IN THE BOX
AND WHAT THEY EAT
ENGAGEMENT METRIC: .8%
SEPTEMBER 2008 ROP: 36.7X
ROI =
SALARY+ TOOL COSTWHATEVER THE TALKERS
BOUGHT
EMAIL 100 OF THE COMMENTERS AND ASK THEM IF THEY BOOKED A
CRUISE, OR LOOK AT THIRD-PARTY COOKIE
10K+ FRIENDS
459 COMMENTS
ENGAGEMENT METRIC: 4%
ROP: ???
ANALYZE A STATISTICALLY SUBSET OF THE ENGAGED GROUP, AND MULTIPLY IT
OUT
ROP: 2-200X
ROI: 1.5-10XCORRELATION:
ONLY ON A PER-TOOL BASIS, AT A GIVEN POINT IN
TIME
Social Networks Twitter Blog Forums Wikis Totals
ROP 20x 8x 1.5x 5x 4x
ROI 1.1x 5x 4x 1.1x 2x
% of Resources 70% 5% 10% 10% 5%
Weighted ROP 14x .4x .15x .5x .2x 15.25x
Weighted ROI .77x 0.25 .4x .11x .1x 1.63x
BE A PROFIT CENTER
BE BIG PICTURE
BE FREAKIN’ INVALUABLE TO YOUR BRAND
BRILLIANT METRIC-BASED
SOCIAL WEB STRATEGIESHUGE, COMPLEX
IMPLEMENTATIONS
DRINK ALL OF YOUR SCOTCH