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What's the right question to ask when talking about Social Media ROI? What is the right framework to measure it? Vincenzo Cosenza - Blogmeter social strategist - provides some hints in this presentation.
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© Blogmeter 2013 I www.blogmeter.it 1
SOCIAL MEDIA ROI
Measurement framework
Vincenzo Cosenza
@vincos
www.blogmeter.it
© Blogmeter 2013 I www.blogmeter.it
What is the ROI of Social Media? 1/3
2
Ask yourself:
Is this the right question?
1. What’s ROI ?
© Blogmeter 2013 I www.blogmeter.it
What is the ROI of Social Media? 2/3
3
Ask yourself:
Is this the right question?
2. What’s Social Media ?
Social media are web based services that
enable «socialization» of messages delivering
and transformation
© Blogmeter 2013 I www.blogmeter.it
What is the ROI of Social Media? 3/3
4
The right questions:
What is the R.O.I. of [insert a
specific social media activity] in
[insert a specific time frame]?
i.e. What is the ROI of shifting 10% of our
customer service resources from a traditional
call center to Facebook/Twitter in Q4 2013?
© Blogmeter 2013 I www.blogmeter.it
Most common mistakes
5
• Every activity must have a
positive ROI
• Short term vision
• Measurement as an
afterthought
• Social Media metrics first
• Forget business goals
Social Media Metrics
Business Metrics
Business Goals
© Blogmeter 2013 I www.blogmeter.it
Start with Business Goals
6
Business
Goals
Business Metrics
Social media metrics
Brand Health, Marketing Optimization,
Revenue Generation, Operational
Efficiency, Customer Exp, Innovation
Revenue Increase, Cost decrease,
Positive reputation, …
Engagement Increase,
Response time decrease,
Positive opinions increase…
Mapping & Profiling
Conversation Analysis
Engagement Analysis
The right framework is useful to link social media metrics with business
metrics and business goals.
Tools & techniques
The right measurement framework
• Understand relationships around topics.
• Visualize hubs & bridges
Mapping & Profiling
Mapping & Profiling – Measurement
Framework
Business
Goals
Business Metrics
Social media metrics
Brand Health
Positive exposure thanks to
influencers engagement
+ engagement
+ positive feedback
Mapping & Profiling
Conversation Analysis
Engagement Analysis
Tools & techniques
• Monitoring brand health against competition
• Measuring campaigns
• Understand conversations around topics
Conversation Analysis
Conversation Analysis – Campaign tracking
Conversation Analysis – Measurement
Framework
Business
Goals
Business Metrics
Social media metrics
Revenue Generation
Revenue increase thanks to a Social
Media campaign
+ positive engagement
+ conversion rate
Mapping & Profiling
Conversation Analysis
Engagement Analysis
Tools & techniques
© Blogmeter 2013 I www.blogmeter.it
Engagement Analysis - Overview
13
Performance overview
Fans/Followers profiling Best practices
Competition benchmarking
© Blogmeter 2013 I www.blogmeter.it
Engagement Analysis – Top Brands (oct ’13)
14
© Blogmeter 2013 I www.blogmeter.it
Engagement Analysis – Top Brands (oct ’13)
15
Engagement Analysis – Measurement
Framework
Business
Goals
Business Metrics
Social media metrics
Improve Customer Experience,
decreasing operational costs
Customer Satisfaction increase
Cost decrease
+ Closed tickets via social care
- Response time
Mapping & Profiling
Conversation Analysis
Engagement Analysis
Tools & techniques
© Blogmeter 2013 I www.blogmeter.it
So what?
17
Not everything that count can be financially measured
But without measuring your (social) activities you’re lost.
In the Society of Data we need to develop a 6th sense
the ability to analyze links between (big) data to improve business
Milano | Roma | Torino
marketing@blogmeter.it
www.blogmeter.it
www.twitter.com/blogmeter
www.facebook.com/Blogmeter
www.slideshare.net/Blogmeter
Thank you!
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