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Showing the value of social media can be difficult, particularly for B2B companies. It doesn't have to be. Learn exactly what matters in social media marketing (because a lot of work is wasted effort), how to determine goals that will resonate with your boss / executive management, how best to measure results and show social media ROI. This presentation was given at the Social Media Strategies Summit in Denver 2012.
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B2B Social MattersGoal Setting, Measurement & ROI
August 21, 2012Jamie Duklas, Co-Founder, Video Go Go
@jduklas
Introduction
• I’m tall• Co-Founder of Video Go Go:
Agency + Production Studio, creates & promotes social videos
• Previously Director of Social Media for Booyah Advertising
• Developed social strategy for DISH Network, Fiji Water, Blockbuster, Vail Resorts, Jeppesen & more
@jduklas
Agenda
• Why Social?• Social Marketing Landscape• Goals• Tracking & Measurement• ROI
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Does Social Media Impact Your Business?
Ask yourself:• Do I need to be on Facebook? Why?• Where are my customers talking online?• Where are my competitors talking?• What expectations do my customers, business
partners and others that interact with my brand have?
HINT: If your customer is online, social media does matter. You want to talk where they are talking.
@jduklas
Social Marketing Landscape
ROI
Paid Media
Earned Media
Owned Media
Content Syndication
Goals
Social Media Strategy
Your Website
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Social Media: It’s Not Magic
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Email Marketing Similar to FB Marketing
Email list sizeOpen rateEmail creativeCopywritingEmail softwareSend frequencyUnsubscribes
= Facebook fans= Engaged fans= Profile, Timeline & post images= Copywriting= Facebook Insights & other SM
software= Posting frequency= Unsubscribes
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Decide Which Metrics Matter
• Traffic Driven• Impressions• Social Mentions• Revenue• Leads• Social Reach (fans, engaged fans)
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Determine Benchmarks
• 16% of fans see a FB post• .5 to 1% engagement rate per FB post (smaller
pages should be higher; top posts get 2 or 3%)• .3 to 1 retweet for each tweet
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Create Real Goals
I want 350 visits from Facebook to my website each month:
20 link posts X (Fans X % Who See Post X % Who Click) = 350
20 link posts x (Fans X .16 X .02) = 350 Visits
20 link posts x (5,500 Fans X .16 X .02) = 352 Visits
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Tracking: Social Media Software Monitoring Engagement Management Promotions Influencer CRM BloggersFree Google Alerts TweetDeck Postling Wildfire Klout Social Mention Hoot Suite North Social PeerIndex Kred Paid Buddy Media Buddy Media Buddy Media Traackr Technorati Trackur Shoutlet Shoutlet Shoutlet Spot Influence BlogDash Meltwater Buzz Involver Involver Involver mBlast - mPact BlueGlass Scout Labs Scout Labs Wildfire Wildfire BlogFrog BlogFrog Sysomos Sysomos North Social North Social Radian6 Radian6 Radian6 Argyle Social Argyle Social Argyle Social Offerpop Awareness Awareness Woobox Alterian SM2 Alterian SM2 Extole Collective Intellect Collective Intellect Votigo Spredfast Spredfast Spredfast Spredfast Social Chorus Social Chorus Bigprize Viral Heat Fanzilla Nielsen Buzzmetrics Virtue Sprout Social Sprout Social AddThis Visible Technologies Visible Technologies Upickem Fanappz
Fanbuildr
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Tracking: Assisted Sales & Leads
Multi-Channel Attribution: Crediting social for referral traffic that later converted into a sale or lead
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Tracking: Common Paths to Lead/SaleIt often takes five to seven touch points to convert
someone:
• Visitor is cookied for a 30 day window
• Social can be first visit (awareness), middle (top of mind) and final (converter)
• See how social interacts with our other ad channels
@jduklas
ROI: Social Reach
There are several ways to measure social reach:Fans (total likes)Engaged Fans (fans that interacted in the last month)Social Reach (monthly posts X engaged users)
Who Has Better Social Reach?Company: 14,614 likes OR 63 X 1,039 = 65,457 ReachCompetitor: 20,360 likes OR 29 X 1,114 = 32,306 Reach
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ROI: Media Valuation
• Equating Social Impressions to their CPM advertising value
• Facebook: 8,000,000 impressions ($0.60 CPM)• Twitter: 200,000 impressions ($1 CPM)• Monthly media valuation = $5,000
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ROI: KPI Dashboard
Key Performance Indicator Total (Goal) Percent Goal
Leads 20 13.2 151%
Revenue $35,000 $12,000 292%
Fans 14,081 13,458 105%
Reach 84,345 80,000 105%
Media Value of Impressions $5,235 $4,000 131%
Traffic Driven to Website 2145 592 199%
Traffic Driven to Blog 1309 361 196%
@jduklas
Summary
• Decide how and where you should be doing social media
• Start with goals• Create benchmarks / Key Performance Indicators• Track everything, report on what matters• Social Media ROI is there!
@jduklas