social media planning & measurement: proving (or not) the value of social media
DESCRIPTION
Beth Harte presentation at South South: Social Media Planning & Measurement: Proving (or not) the Value of Social MediaTRANSCRIPT
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Social Media Planning & Measurement: Proving (or not) the Value of Social Media
Beth Harte
Community Manager, MarketingProfs
@bethharte
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Why Measurement is
Important
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The silver bullet myth
Image source: realestatedementia.com/
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Are you ready for hard work?
Image source: http://imagecache2.allposters.com/images/JAG/03-PS35-6.jpg
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Politics will always exist
Image source: http://www.cartoonstock.com/newscartoons/cartoonists/tcr/lowres/tcrn92l.jpg
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Image source: clarinet-now.com
Tactics without a plan...
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Don’t think you need a plan?
Image Source: www.bulldogblog.net/articles/wp-content/uploads/2009/02/money.jpg
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Image source: clarinet-now.com
With a plan...
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How to write a measurable
plan
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The Plan:
• Goal
• Measurable Objectives
• Strategy
• Tactics
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What is a goal? • What do you hope to gain by
engaging in social media?
• Does your goal fit into the overall corporate goal?
How to write a goal:
• To increase sales
• To decrease customer service expenditures
How not to write a goal:
• To increase sales AND to increase customer engagement
Image source: getentrepreneurial.com
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Types of objectives• Output: Physical products
– Blog post, news release, e-mail, etc.
• Outtake: What a target audience takes away
– Messages, perceptions, understandings
• Outcome: Quantifiable changes in attitudes, behaviors, or opinions
– Sales, change in the number of downloads, requests, responses
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Writing measurable objectivesTo be measurable, objectives MUST include:
1. A specific desire, communication or behavioral effect;
2. A designated target audience among whom the effect is to be achieved;
3. The expected level of attainment; and
4. The timeframe in which those attainments are to occur.
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Measurable objectives• Output: To create a Facebook fan page and
have 15% of online public #2 join within 6 months.
• Outtake: To increase positive mentions that include key message in key industry blogs by 15% within six months.
• Outcome: To increase sales of Product X by 20% within 3 months.
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• To increase sales
• To decrease customer service expenditures
• To increase sales and to increase customer engagement
• To decrease customer service expenditures and to increase customer satisfaction
How not to write an objective
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Strategy• What is the approach
to achieving objectives and reaching the goal?
• Example: Establish a Facebook Fan Page to keep target audiences connected.
• Set up a Ning community to support customers of Product X.
Image source: getentrepreneurial.com
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Tactics• What activities will be
conducted to carryout specific objectives?
• What tools will be used?
• Example:
– Set up the Facebook account
– Invite target audience via an e-mail
Image source: http://francisanderson.files.wordpress.com
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A Sample Plan Outline• Goal• Objective 1 (Outcome objective)
– Strategy 1• Tactic 1• Tactic 2
• Objective 2 (Output objective)– Strategy 1
• Tactic 1– Strategy 2
• Tactic 1• Tactic 2
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Sample Measurable Plan• Goal: To lose weight
• Outcome Objective: I want to lose 10 pounds by September 15th
• Strategy 1: I will go to the gym 5 times a week
– Tactic 1: Elliptical machine
– Tactic 2: Weight training
• Strategy 2: I will watch what I eat
– Tactic 1: Weight Watchers
– Tactic 2: Journal
• Measurement: I lost 8 pounds by September 15th (Objective not met)
Image source: http://reviewsofdietprograms.com/photos/scale.jpg
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Sample Measurable Plan• Goal: To increase sales
• Outcome Objective: To increase sales of Product X by 20% within 3 months
• Strategy 1: To use Facebook to engage customers of product X
– Tactic 1: Create a Facebook Fan Page
– Tactic 2: Create Facebook Ads
• Strategy 2: To use Twitter to engagecustomers of product X
– Tactic 1: Conversational Tweets
– Tactic 2: Tweets with discount codes
• Measurement: An increase of sales in Product X of 25% within 6 months (Objective not met)
Image source: http://www.salesmotivation.net/img/salesrun.jpg
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Plans need to be flexible
Image Source: Flickr, ralphventon
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What to measure when it comes to social
media
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Typical Measurement & Value
Image sources: harperstudio.typepad.com, tiphut.wordpress.com, bp.blogspot.com, publichealth.columbus.gov, bmwblog.com, conversationmarketing.com
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Measurement Today
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Traditional Marketing Funnel
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Social Network Interference
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New Marketing Funnel
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SM Measurement of Engagement
Image sources: digitalstrategy.govt.nz, orionwell.files.wordpress.com, itqb.unl.pt, iStock, gognis.net
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What to measure...• Friends, Followers, Fans• Comments/Subscribers• Tweets/Retweets• URL shortener stats• Increased web traffic• Click-thrus• Net Promoter Score• Influence • Sentiment• Brand mentions• Share of conversation
Image source: www.flickr.com/photos/joshrussell/580372830
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Measurement Best Practices
• Benchmarking
• Objectives
• Return on Expenditures
• Return on Investment
BORR-ing...but necessary!
Image source: www.usm.edu/pr/releases/2006/may/cook.htm
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Benchmarking
Image Sources: http://www.defenselink.mil/ & http://www.sweatyguineapig.com
Where did we start?
Plan #1: 15 lbs. overweight
Plan #2: $50,000 in sales
Where did we end?
Plan #1: 7 lbs. overweight (lost 8 lbs)
Plan #2: $62,500 in sales (25% increase)
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Objectives• Plan #1: I want to lose 10 pounds by
September 15th
– Results: 8 pounds lost by September 15th
– Objective not met by 7 pounds
• Plan #2: To increase sales of Product X by 20% within 3 months– Results: Sales of Product X increased by 25%
in six months– Objective not met by 3 months
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• Measuring Tactical Expenditures:– Gym cost
• $50/month (1 month)– Weight Watchers cost
• $400/month (1 month)– Journal cost
• $5.00– New sneakers cost
• $80.00– New gym clothes cost
• $100.00
TOTAL: $635.00/8 lbs = $79.38 per pound
ROE – Plan #1
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ROE – Plan #2• Measuring Tactical Expenditures:
– Facebook• Free
– Facebook Ads• $500/month (3 months = $1,500)
– Employee’s Facebook Time • $40/hour ($40/hr * 10 hrs/wk * 12 weeks = $4,800 )
– Twitter• Free
– Employee’s Twitter Time • $40/hour ($40/hr * 10 hrs/wk * 12 weeks = $4,800 )
TOTAL: $11,100/5 sales = $2,220 per sale
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ROI – What’s the R?
Image sources: http://www.mywasher.net & http://mymoneymakingexperiment.commoney-blogging.gif
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ROI – What’s the I?
Image sources: blogs.discovermagazine.com, www.ecu.edu, www.clydepumps.com/overview-2
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ROI – Plan #2
Gain from Investment – Cost of Investment
Cost of Investment
And is always expressed in a percentage!
$12,500 - $11,100
$11,100ROI = 13%
SalesExpenditu
res
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Measurement is a puzzle
Image source: www.askmario.com/backtalk/backtalk_puzzle.php
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Where tools can help and where
they can’t
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Tools to help measure
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Tools to help measure
Image Sources: mentalfloss.cachefly.net, www.orthonurse.org, i.ehow.com/images, www.smbmarketingguide.com/
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Who needs to be involved
& what management
expects
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Who needs to be involved• C-Suite (CMO)• Finance• Marketing Management (VP)• Marketing
Directors/Managers• Support Staff• Vendors
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Speak Management’s Language
• Metrics that management wants to see:
– An increase in sales of $12,500 as benchmarked against last quarter
– Objective was not met by 3 months
– Each sale was $2,500 at an expense of $2,220
– Social Media ROI was 13%
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Get Management Approval• Present your analysis
– What did you hear? What was the sentiment? What is the competition doing?
• Share your measurable plan to address findings
• Provide detailed information– Budget– Required resources, time, vendors, etc.
• Demonstrate how you will provide an ROI
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