social media roi measurement workshop university central florida
Post on 17-Oct-2014
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DESCRIPTION
Social media roi measurement requires alignment to business goals. Select business goals and objectives where social can have the greatest impact. Know what transformations you want to make by leveraging and integrating social media into the DNA of your business. Know the difference between social business and social media. This presentation was delivered as part of a workshop for the University of Central Florida Nicholson School of Communication. Feel free to leverage content with full attribution to source with link to http://www.themarketingnutz.com and http://www.pammarketingnut.com. No copy/paste or duplication of content is permitted. Protected by Copyright 2014.TRANSCRIPT
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Social Media Measurement
Pam Moore CEO / Founder Marketing Nutz @PamMktgNut
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Pam Moore CEO /Founder
http://www.pamslinkedin.com @PamMktgNut
Marke&ng Nutz Founders
Josh Moore CCO /Founder
http://linkedin.com/in/joshroinut @JoshROINut
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“Experience helping brands of all size bridge complex gap to social
success.”
why Marke&ng Nutz?
Founders have 30+ years combined experience in digital
marketing, corporate brand, startups & platforms.
“PHD in acronyms not required. We help you fit social business in a nut shell so you can focus on what you do best, your business!”
“CEO, best selling author recognized by Forbes as Top 10 Social Media Power Influencer +
Top 10 Social Media Women Influencers!
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Embrace the
JOURNEY!
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Social Business Success
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social business “Becoming a social business transforms the organization from the inside out, connecting the internal with the external in a way that enhances relationships and creates shared value for the people, the business and ecosystem as a whole.”
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social media “Refers to the means of interactions among people in which they create, share, and exchange information and ideas in virtual communities and networks.”
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Brand “A brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another. If the consumer (whether it’s a business, a buyer, a voter or a donor) doesn’t pay a premium, make a selection or spread the word, then no brand value exists for that consumer.” ~Seth Godin
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Why should we do social?
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Measuring & worrying about the wrong things
Source: Creative Commons
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Quit selling your CEO Twitter!
11
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1.3B mobile workers by 2015
Source: IDC
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90% mobile users have device within arms reach 100% of &me
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Houston we have a failure to
communicate
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start from inside out
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• Strengths and weaknesses? • Demonstrate impact of strategic work • What training is required? • Change management needs? • Categories for readiness assessment
• Mindset • Stakeholder buy-‐in • Realis&c expecta&ons • Roles • Customer profile • Market analysis • Compe&&ve analysis • Brand Readiness
• Processes • Organiza&onal model
• Communica&on • Educa&on • Monitoring • Repor&ng • Budget
Assess readiness to be social
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Source: Altimeter Group
Language matters
LOB/Geo Stakeholders
Social Strategist/Community Manager
• Business metrics: revenue, CSAT, reputation.
• Social media analytics: Insights, share of voice, resonance, WOM.
• Engagement metrics: fans, followers, clicks.
Corporate
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communities create markets
Opportunity Harvest
Free member
Paid member
Loyal evangelist
Community Zone Customer Zone
$$
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Stop dancing around & start dancing with ROI!
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benefits – costs costs = x100
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Without STRATEGY there is no ROI
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Stop the Random Acts of Marketing (RAMs)
=
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Your Mission Understand where your audience is hanging out online & learn how to have a relevant conversation with them that helps meet business goals.
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• WHO are you talking to?
• WHAT do they need?
• WHEN will they engage with you?
• HOW can you help?
• WHERE do they want to talk?
• WHY should they care? Why should you invest?
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People don’t buy things, they join things
NOT about CONTROL
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think DNA, not tools
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relevance
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Maslow’s hierarchy of needs
Morality, creativity,
spontaneity, problem solving, lack of prejudice,
acceptance of facts
Self-esteem, confidence, achievement, respect of others, respect by others
Friendship, family, sexual intimacy
Security of body, employment, resources, morality, family, health, property
Breathing, food, water, sleep, homostasis, excretion physiological
safety
belonging
esteem
self-actualization
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hierarchy of social community inspira&on
self-
actualization
esteem
belonging
safety
physiological
achieve
connect
inspire
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humanize it
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human brands… • Think like humans • Care about humans • Value relationships • Listen to other humans • Talk like humans • Have a personality • Show their “human” • Make & own their mistakes • Are available • Know themselves • Know their audience • Invest in people • Take risk
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My Brand is… • What I say • What I do • What I think • What I tweet • What I post on Facebook • What I Instagram • What I write in email • What I share • How I respond • How I interact on & offline! • How I drive!
• ME!
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Tech Enthusiasts
Visionaries
Pragmatists
Conservatives
Skeptics
Technology Adop&on
Geoffrey Moore Technology Adoption Lifecycle
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Social media plugs into your Business
Bus
ines
s
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Pick Goals where social can have an impact
Align Social with top Business Goals
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We use
POST strategy to frame the Social Media Strategy
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POST+GM P
O
S
T
People Identify WHO & assess their social activities
What do you want to accomplish? WHY?
Plan for how relationships with the “people” will change
Decide which social technologies to use
G Goals
What metrics will be used to measure success
Objectives
Strategy
Technology
Metrics M
Set goals for achievement, qualitative & quantitative
Based Upon POST Methodology Source: Forrester Research
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Select tools AFTER you know WHAT you want to measure and WHY!
sales
thought leadership
customer
satisfaction
employee empowerment
leads brand
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Where are you going? • Key Performance
Indicators help measure transformation
• Business goals /objectives define where you are going and why
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Know desired shibs (changes)
• Brand awareness new markets • Sentiment shifts • Thought leadership • Decrease sales cycle • Increased customer
satisfaction • Community growth • Influencer / advocate tribes • Sales
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It’s not what the technology can do for you but what you can do with the technology!
outcomes
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1. Brand awareness 2. Brand loyalty 3. Customer sa&sfac&on 4. Market Research 5. Compe&&ve Intelligence 6. Shorten sales cycle 7. Decrease service costs 8. Lead Genera&on 9. Revenue
common business goals
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1. Social listening 2. Thought leadership 3. Nurture rela&onships 4. Build community 5. Earn loyal brand advocates 6. Maximize reach in exis&ng &
new markets 7. Support sales / marke&ng
campaigns 8. Talent recrui&ng & reten&on
common social media business goals
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Popular Social Media Tools Social Media Management • Hootsuite • Sprout Social • Buffer (schedule posts) Social Monitoring • Sysmos • Radian 6 • Trackur • Social Mention • Brandwatch Build Twitter Following • Twellow • Social Bro • Manage Flitter • Triberr (+blog traffic, community)
Social Measurement • Social Bakers • Sprout Social • Tweetreach (Twitter) • Twitonomy • Pinalytics (Pinterest) • Likalyzer (Facebook) • BlitzMetrics (Facebook) • Sumall • Argyle
Blog / Website • Google Analytics • Alexa • Kissmetrics • Webtrends • IBM CoreMetrics
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evaluate each ini&a&ve Impact How does it support an objective?
What metrics matter?
Readiness Do we have
people who can do this?
Is there budget?
Risks What are the risks
if we do this? What if we don’t?
Priority Does this initiative
enable other work?
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Embrace OPCs
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Empower internal brand evangelists
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ac&vate influencers
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Questions?
Pam Moore CEO / Founder Marketing Nutz @pammktgnut www.pammarketingnut.com www.themarketingnutz.com