What's the ROI of Social Media? You might as well be asking what's the ROI of an elephant...
Presentation by Gwen Woltz and Karen Weikert of Wahine Media at Social Media Club Hawaii's quarterly meeting on October 18th, 2011
Unlocking the Future: Explore Web 3.0 Workshop to Start Earning Today!
ROI of an Elephant
1. What’s
the
ROI
of
You might as well be asking
Social
Media? what’s the ROI of an elephant...
2. “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
Social Media and ROI: A Little Bit of Clarity
right
question? —Oliver Blanchard
3. First
can
you
tell
us,
why
an
elephant?
Why did you recruit a 12,000
pound pachyderm with a
penchant for peanuts?
5. Is
he
stationed
at
the
front
of
the
mall
Brand Visibility
bedecked
in
satin
Special Promotion
and
tassel
signage?
6. Is
he
giving
little
Creating goodwill
children
rides
on
Photo ops on Facebook
Location check-ins on Foursquare
his
back?
7. Is
he
a
crowd
Fingers and tweets fly about
pleaser—causing
“Monty the Magnificent”
quite
a
stir?
8. Define
and
Align
What is this campaign What results do you want With expectations and
about? {strategy} to see? {goals} benchmarks set, you can
now fill your cup with
Promote an event? Increase brand visibility? statistical goodness.
Build a Facebook community? Reduce customer service cost?
Introduce a new product? Increase sales?
9. 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
10. Now,
how
do
you
Qualitative measurement
measure
that?
11. I’m talking to you
It’s
not
always
You’re talking back
You tell your friends I’m cool
black
and
white Your friends now want to meet me
12. “The ROI of social
media is your business
will still exist in 5
Hold
please... years” —Erik Qualman
What’s the ROI of “@prsingleton: Clear
NOT having a cost of not engaging in
conversation? Social Media is being
perceived as a flat-
earther. #socialchat”
13. Filling
your
cup
Your metrics are informed by
with
statistical
your goals. It’s up to you to
make your own brew.
goodness
14. Nitty
gritty
• Brand Awareness
• Social Reach
weights
and
• Frequency
measures • Audience
15. Brand
Awareness
Who is talking about your brand, where,
and how often?
• Monitor conversations
• Hootsuite & TweetDeck
• Google Alerts
• Twitter lists
• Hashtags
• Exposure
• How many platforms are you on?
• Social ranking
• How visible are you online?
16. Social
Reach
How large is your community and
is it growing?
• 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?
17. Frequency
When you talk to people are they
talking back?
• 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
18. Audience
What elicits a response?
• Demographics
• M/F, age, country, zone
• Behaviors
• Best time of day {Time.ly}
• What type of posts get the most response?
19. 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
20. “Not
everything
that
counts
can
be
counted,
So true Al... It’s what moves
and
not
everything
that
the needle that counts!
can
be
counted
counts.”
21. Stay
in
touch
Wahine Media
web: wahinemedia.com
blog: wahinemedia.com/wahineblog
facebook: facebook.com/wahinemedia
twitter: @wahinemedia
Karen Weikert
@karenweikert
Gwen Woltz
@gjwahine
Link to slideshow:
http://www.slideshare.net/wahinemedia