social media roi
TRANSCRIPT
BUT……………………………………….
Social Media is COOLagreed?
WHERE IS THE MONEY?????????
SOCIAL MEDIA AIN’T FREE
AND MONEY DOESN’T GROW ON TREES
Social Media Takes
1. TIME
2. PEOPLE
3. TECHNOLOGY
and 4. CONSTANT LEARNING
ALL OF WHICH ARE SCARCE RESOURCES FOR A COMPANY
BY INVESTING IN SOCIAL MEDIA YOU ARE TAKING MONEY AWAY FROM OTHER
DEPARTMENTSAND WORKERS
SUCH AS BOB THE ‘ACCOUNTANT’
OTHER RESOURCES COULD INCLUDE
• MARKETING• PR• SALES• OVERHEAD• ACCOUNTING• IT• ADVERTISING
ALL OF THESE RESOURCES ARE NECESSARY AND LEAD TO SPECIFIC RESULTS!!
IF SOCIAL MEDIA TAKES AWAY THESE RESOURCES IS IT REALLY A….
THRILLER
Or… A SMOOTH CRIMINAL
IS SOCIAL MEDIA SIMPLY A GOTTA HAVE IT THING
• http://www.youtube.com/watch?v=kTFZyl7hfBw#t=3m49s
OR CAN IT LEAD TO SOMETHING BETTER
ASK NOT WHAT YOUR SOCIAL MEDIA CAN DO FOR YOU, BUT WHAT YOU CAN
DO FOR YOUR SOCIAL MEDIA
BUT MICHEAL, OUR TWITTER ACCOUNT HAS OVER 10,000
FOLLOWERS, AND OUR YOUTUBE PLANKING VIDEOS ARE GETTING
100,000 VIEWS.
IM SORRY BUT YOUR SOCIAL MEDIA ISN’T BRINGING
DUNDEE ANY MORE REVENUE. WE NEED TO TAKE IT OUT OR MAKE IT WORK.
WE HAVE GOT TO START TYING
SOCIAL MEDIA TO BUSINESS RESULTS
BUT HOW?
SEVEN STEP METHOD TO DETERMINE ROI
• STEP 1: Establish A Baseline• STEP 2: Create Activity Timelines• STEP 3: Look at Sales Revenue• STEP 4: Measure Transactional Precursors • STEP 5: Overlay All Timelines• STEP 6: Look for Patterns • STEP 7: Prove Relationships
STEP 1: Establish a Baseline
STEP 2: Creating Activity Timelines
STEP 3: Look at Sales Revenue
AND # OF SALES TRANSACTIONS
STEP 4: Measure Transactional Precursors
STEP 5: Overlay All Timelines
STEP 6: Look for Patterns
STEP 7: Prove Relationships
Conclusion
• ALL SOCIAL MEDIA CANNOT TO BE USED BY ALL INDUSTRIES
• IT MUST PROVIDE A POSITIVE ROI– Since after all Business is Business
• Metivana and Stocks
I’m Sorry MC Hammer You Can Touch Social Media