What’s  the  ROI  of  Social    Media?

You might as well be asking what’s the ROI of an elephant...

Social Media and ROI: A Little Bit of Clarity —Oliver Blanchard

“The question, then, is not what is the ROI of social media, but rather what is the ROI of [insert activity here] in social media? In fact, to ask the question properly, you have to also define the timeframe. For example: What was the ROI of [insert activity here] in social media for Q3 2011?”

Are  you  asking  the  right  question?

First  can  you  tell  us,  why  an  elephant?

Why did you recruit a 12,000 pound pachyderm with a penchant for peanuts?

Before  you  plan  a  campaign

Envision your elephant...

Is  he  stationed  at  the  front  of  the  mall  

bedecked  in  satin  and  tassel  signage?

Brand VisibilitySpecial Promotion

Is  he  giving  little  children  rides  on  

his  back?

Creating goodwillPhoto ops on FacebookLocation check-ins on Foursquare

Is  he  a  crowd  pleaser—causing  

quite  a  stir?

Fingers and tweets fly about “Monty the Magnificent”

What is this campaign about? {strategy}

Promote an event?Build a Facebook community?Introduce a new product?

What results do you want to see? {goals}

Increase brand visibility?Reduce customer service cost?Increase sales?

With expectations and benchmarks set, you can now fill your cup with statistical goodness.

Define  and  Align

Your  promotion  caused  a  lot  of  commotion—but  was  it  successful?

Answer: If you just look at the $$$ gained, you’re missing a HUGE part of the picture

Now,  how  do  you  measure  that?

Qualitative measurement

It’s  not  always  black  and  white

I’m talking to youYou’re talking backYou tell your friends I’m coolYour friends now want to meet me

Hold  please...

What’s the ROI of NOT having a conversation?

“@prsingleton: Clear cost of not engaging in Social Media is being perceived as a flat-earther. #socialchat”

“The ROI of social media is your business will still exist in 5 years” —Erik Qualman

Filling  your  cup  with  statistical  

goodness

Your metrics are informed by your goals. It’s up to you to make your own brew.

Nitty  gritty  weights  and  

measures

• Brand Awareness• Social Reach• Frequency• Audience

Brand  Awareness

• Monitor conversations• Hootsuite & TweetDeck• Google Alerts • Twitter lists• Hashtags

• Exposure• How many platforms are you on?

• Social ranking• How visible are you online?

Who is talking about your brand, where, and how often?

Social  Reach

• Number of followers• How many subscribers, fans, followers

circles and lists?

• Performance• Which channels are most active?• Which posts are most viewed?

• Growth• Are you up or down from last month?

How large is your community and is it growing?

Frequency

• Engagement• How often?

• Number of RT’s, mentions, shares, comments, likes

• Who with?• Influencers? {Reporters, industry experts,

community leaders, CEO’s}

• Unique visits• Facebook Insights, Google Analytics

When you talk to people are they talking back?

Audience

• Demographics• M/F, age, country, zone

• Behaviors• Best time of day {Time.ly}• What type of posts get the most response?

What elicits a response?

Great  tools!

• Hootsuite• Basic plan & quick analytics {$5.99/mo}

• Customized reports for additional cost• TweetDeck• Sprout Social

• At a glance monthly report {$5.00/mo}

• New Facebook Insights• Google Analytics & Alerts

• Twenty Feet• Twit Sprout• SocialOomph• Webtrends• Social Argyle• Social Bakers

“Not  everything  that  counts  can  be  counted,  and  not  everything  that  can  be  counted  counts.”

So true Al... It’s what moves the needle that counts!

Stay  in  touch

Wahine Mediaweb: wahinemedia.comblog: wahinemedia.com/wahineblogfacebook: facebook.com/wahinemediatwitter: @wahinemedia

Karen Weikert@karenweikert

Gwen Woltz@gjwahine

Link to slideshow:http://www.slideshare.net/wahinemedia