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SOCIAL ROI IN 7 EASY STEPS PRESENTED BY SERENA GOLDBERG, MANAGER OF ANALYTICS JENNA LEBEL, VP OF GLOBAL MARKETING OCTOBER 24, 2012 http://slideshare.com/likeable http://bit.ly/smroiwebinar http://likeableroi.com #likeable

Social Media ROI in 7 Easy Steps

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Page 1: Social Media ROI in 7 Easy Steps

SOCIAL ROI IN 7 EASY STEPSPRESENTED BYSERENA GOLDBERG, MANAGER OF ANALYTICSJENNA LEBEL, VP OF GLOBAL MARKETINGOCTOBER 24, 2012http://slideshare.com/likeablehttp://bit.ly/smroiwebinarhttp://likeableroi.com#likeable

Page 2: Social Media ROI in 7 Easy Steps

TODAY'S PRESENTERS

Serena GoldbergManager of AnalyticsLikeable Media@SerenaGoldberg

Jenna LebelVP of Global MarketingLikeable Media@JennaL15

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Page 3: Social Media ROI in 7 Easy Steps

WHAT'S INSIDEMeet Likeable

Overview of Social ROI

Why You’re Not Seeing Results

Do’s & Don’ts

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7 Easy Steps to Social ROI

A Likeable Case Study Example

Q&A, Feedback & Grand Prize

Page 4: Social Media ROI in 7 Easy Steps

HAVE A QUESTION?Tweet questions to @LikeableMedia or use the hashtag #likeable

Ask questions on our Facebook page at fb.com/LikeableMedia

Use the chat bar in GoToWebinar to ask questions!

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Page 5: Social Media ROI in 7 Easy Steps

MEET LIKEABLE

Page 6: Social Media ROI in 7 Easy Steps

TIMELINE

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Page 7: Social Media ROI in 7 Easy Steps

MEET OUR CLIENTS

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Page 8: Social Media ROI in 7 Easy Steps

WHAT IS SOCIAL ROI?

Page 9: Social Media ROI in 7 Easy Steps

ROI IS A HIGHLYDEBATED TOPICIN SOCIAL MEDIA

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Page 10: Social Media ROI in 7 Easy Steps

SOCIAL ROI DEFINED

Wildfire ROI White Paper

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“While the definition of ROI (revenue minus expenses / expenses) is fairly straightforward, ROI can only be defined when you understand what results provide “value” to your brand.”

Altimeter Group

“Social media is measurable. It can be done.To say social media can't be measured is a cop-out, and dangerous for anyone who works in an organization that, say, plans to make or raise money at some point in the future.” Forrester Report,

The ROI of Social Marketing

“Marketers often frame this question as 'What is the ROI of social media?' butfinancial metrics are just one way ofevaluating social media marketing programs. Social media marketingdelivers a wide range of benefits toorganizations that are beneficial in theshort term and long term in ways bothquantitative and qualitative.”

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Page 11: Social Media ROI in 7 Easy Steps

41% of marketers surveyed had no return on investment figure for any of the money they had spent on social channels as of October 2011.

74% of CMOs believe they’ll tie social media efforts to hard ROI this year.

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SOCIAL ROI STATS

Page 12: Social Media ROI in 7 Easy Steps

OVERVIEW OFSOCIAL ROI

Page 13: Social Media ROI in 7 Easy Steps

SOCIAL ROI:

IT'S CONTEXTUAL

SAMPLE FACTSOME HASHTAG

Defining social ROI is challenging because it’s all contextual

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Page 14: Social Media ROI in 7 Easy Steps

SOCIAL ROI:

MORE THANSALES EARNINGS

SAMPLE FACT

Never let one general number be your ROI

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Page 15: Social Media ROI in 7 Easy Steps

WHY YOU'RE NOT SEEING RESULTS

Page 16: Social Media ROI in 7 Easy Steps

WHY YOU'RE NOTSEEING RESULTSYou only focus on likes and follows

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Page 17: Social Media ROI in 7 Easy Steps

WHY YOU'RE NOTSEEING RESULTSYou're only measuring what's there

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Page 18: Social Media ROI in 7 Easy Steps

WHY YOU'RE NOTSEEING RESULTSYou don’t compare your results to the industry in general or your competitors

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Page 19: Social Media ROI in 7 Easy Steps

WHY YOU'RE NOTSEEING RESULTSYou aren’t telling a story

Straight data = ineffective

Analysis = critical

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Page 20: Social Media ROI in 7 Easy Steps

WHY YOU'RE NOTSEEING RESULTSYou aren’t able to adjust your strategy as a result

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Page 21: Social Media ROI in 7 Easy Steps

DO’S & DON'TS

Page 22: Social Media ROI in 7 Easy Steps

SOCIAL ROI

DO: OUTLINE GOALS

SAMPLE FACTSOME HASHTAG

Identify Success

Brainstorm ideal outcomes and reference points so you can measure against them

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Page 23: Social Media ROI in 7 Easy Steps

SOCIAL ROI

DO: TELL A STORY

SAMPLE FACTSOME HASHTAG

Supplement your data with stories

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Page 24: Social Media ROI in 7 Easy Steps

SOCIAL ROI

DO: DIFFERENTIATE

SAMPLE FACTSOME HASHTAG

Know different metrics matter to different people

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Page 25: Social Media ROI in 7 Easy Steps

SOCIAL ROI

DO: USE VARIOUSMETHODS

SAMPLE FACTSOME HASHTAG

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Page 26: Social Media ROI in 7 Easy Steps

SOCIAL ROI

DON'T: MEASURE EVERYTHING

SAMPLE FACTSOME HASHTAG

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Only measure what matters to your brand and what will move your strategy forward

Page 27: Social Media ROI in 7 Easy Steps

SOCIAL ROI

DON'T: RELY ON TOOLS TO PROVIDE ANALYSIS

SAMPLE FACTSOME HASHTAG

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Only use these tools to provide data, trends and themes

Page 28: Social Media ROI in 7 Easy Steps

SOCIAL ROI

DON'T: MISTAKE ROI

SAMPLE FACTSOME HASHTAG

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Data, metrics and KPIs are not ROI Data and metrics show the positive and negative changes that have occurred in your business

Page 29: Social Media ROI in 7 Easy Steps

SOCIAL ROI

DO’S AND DON'TS

SAMPLE FACTSOME HASHTAG

#likeable

Do

Outline Goals

Tell A Story

Differentiate

Use Different Methods

Don't

Measure Everything

Rely On Tools To Provide Analysis

Mistake SM data, metrics, or KPIsfor ROI

Page 30: Social Media ROI in 7 Easy Steps

SOCIAL ROI IN7 EASY STEPS

Page 31: Social Media ROI in 7 Easy Steps

STEP 1: DETERMINE YOUR GOALS

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Page 32: Social Media ROI in 7 Easy Steps

STEP 2: BENCHMARKING

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Page 33: Social Media ROI in 7 Easy Steps

STEP 3: PUT THE TRACKING IN PLACE

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Page 34: Social Media ROI in 7 Easy Steps

STEP 4: MEASURE

Page 35: Social Media ROI in 7 Easy Steps

STEP 5: DETERMINE YOUR COST

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Page 36: Social Media ROI in 7 Easy Steps

STEP 6: IDENTIFY THE RETURN

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Page 37: Social Media ROI in 7 Easy Steps

STEP 7: CALCULATE AND EVALUATE

ROI =

BENEFITS – COSTS

COSTS

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Page 38: Social Media ROI in 7 Easy Steps

PUTTING IT INPRACTICEOur Case Study

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Page 39: Social Media ROI in 7 Easy Steps

PUTTING IT IN PRACTICE:

OUR CASE STUDY

SAMPLE FACTSOME HASHTAG

Client: Things Remembered

Promotion: Brides-to-Be

What: Private event for Facebook fans only that included a free personalized gift, private shopping and expert advice by showing “engaged” status on Facebook

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Page 40: Social Media ROI in 7 Easy Steps

PUTTING IT IN PRACTICE:

OUR CASE STUDY

SAMPLE FACTSOME HASHTAG

Results:

53% of all stores had a transaction that included the free gift

23.6% saw revenue increase on this day compared to the same day of last year

Overall 670% ROI

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Page 41: Social Media ROI in 7 Easy Steps

LIKEABLE CONTENT:

EXCLUSIVE ACCESS

SAMPLE FACTSOME HASHTAG

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Page 42: Social Media ROI in 7 Easy Steps

LIKEABLE BUSINESS:

BONUS OFFER

SAMPLE FACTSOME HASHTAG

Likeable Business: Why Today’s Consumers Demand More and How Leaders Can Deliver is available for pre-order on Amazon.

Want a free Likeable consulting session? Buy 10 books of Likeable Business today! Email [email protected] for more information.

Upcoming Likeable Business Events:• October 29th: Book launch party in NYC

• Reserve your ticket today!• October 30th: Video chat book tour

• RSVP today!• October 31st: Free webinar with Andy Sernovitz

• Why A Likeable Business Is the Best Word of Mouth

• RSVP today: http://bit.ly/WJgAnD

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Page 43: Social Media ROI in 7 Easy Steps

THANK YOU!Questions? Feedback? Grand Prize!

SERENA GOLDBERG, MANAGER OF ANALYTICSJENNA LEBEL, VP OF GLOBAL MARKETINGhttp://likeable.comhttp://FB.com/likeablemedia@likeablemedia