is any of this social media stuff working?
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Is Any of This Social Media Stuff Working?
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Social Media ROI (Return on Investment)
Amanda O’Brien – Hall Web Services
Who is this lady?
Amanda O’BrienVP of Marketing at Hall Web [email protected]@amanda_pants
www.hallme.comwww.hallme.com/blog/@hall_web
• www.socialmediabreakfastmaine.com
•www.socialmediab2b.com
• www.amandapants.com
• www.guidingstars.com
Ahh… the ROI Discussion
ROI of…
BIG brands are making money with
social media
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But what about…
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This isn’t working!!
What were you trying to achieve?How were you measuring your progress?Where is your plan?What were your short term objectives?Long term?Timeline?Oh.
Most companies don’t even look to start measuring until they have ‘failed’Too many are measuring the wrong things – non-financial data, social media metrics
Lets take a look…
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( + ) x
ROI is EasyReturn on Investment
Ratio of value received to the actual cost over a base period of time
Resources x Rate
Return= ROI
Time spent (track it)
Talent & Technology
Rate
Money in the bank
These may all lead to money but unless you convert these things – it isn’t
ROI is Money and Effort
Buzz is not moneyWord of mouth is not moneyEngagement is not moneyMentions on Twitter is not moneyFacebook Friends are not moneyYouTube Video views are not moneyPopularity is not money
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The problem is businesses are using a tools based strategy
The tools are the thing to help you reach your goals – the tools are not the thing
Why are you doing this?
Sales – research buyers
Human Resources
Customer Support
Customer loyalty
Establish yourself as an expert
You Need a Plan
What could happen?!?
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What could happen!?!
Sales
• Get new leads
• New customer conversions
• Increase in average order size
Branding
• PR (mainstream media mentions)
• SEO (search engine rank changes)
• Customer service (customer reviews posted)
Objectives first, tactics second
What are you using social media for?
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Marketing has always been about conversations
Used to be one to many – now many to many
Think before you start hard selling
Social Media is More About Relationships Than Sales
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How do you draw the line from Social Media to Sales?
Followers, connections
Conversations to sales leads
CRM system integration
Website traffic
Surveys
No automatic button
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Social Media is Maturing So are the metrics
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Who are you trying to reach?
What are they worried about?
Pain points
Putting People in BucketsTarget market – web visitors – leads – customers
The best marketing doesn’t feel like marketing
Build it and they will come doesn’t work
Determine Short Term Objectives
• Increase website traffic
• Build your online network
• Blog subscribers
• Content subscribers
• Building Buzz
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Determine Long Term Objectives
• Build awareness
• Strengthen relationships
• Understand your buying process better
• Better search rankings
• What will the company look like?
Determine Key Metrics
• Obvious numbers
• Number of posts
• Audience growth
• Conversions
• Subscribers
• Inbound Links
• SEO Improvements
• Set timelines
• Customer satisfaction scores
• InteractionDiagnostics vs. Objective Metrics
– Christopher S. Pennhttp://www.christopherspenn.com/2010/05/are-we-there-yet-diagnostic-versus-objective-social-media-
metrics/
Determine a Timeline A working agenda to keep you on track
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Social proof that they are making the right decision by choosing you
New Touchpoints in the Sales Cycle
• Email newsletter
• Blog
– Twitter Favorites
• Facebook fan page
• Interact with them where THEY are
Show more and tell less
Tools for Measuring Social Media Success
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Just because you can measure it doesn’t mean you should
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Google Analytics
• Free
• Where?
• What?
• How Long?
Landing Pages
• Simple, direct
• Heavily formatted
• Unique URL
• A/B Testing
Photo credit and examples at: http://www.marketingsherpa.com/lp/study.html
Photo and examples: http://unbounce.com/landing-page-examples/built-using-unbounce/7-new-landing-pages-for-your-inspiration/
Paid Solutions
Better to do one or two than fail at 20
Timely, targeted messages
Relationships
Sales funnel pieces, not sales pieces
Must be integrated, not stand alone
Icons
Promotional Codes
Landing pages
Integration is Key
Lets Try: HandbagsDiscovery – buckets, listening
Goals – more online sales
Plan – networks, content
• Facebook – photos
• Flickr
• Blog
• Direct mail
• Landing page
• Discount code
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Lets Measure: HandbagsTrack time – 1 hour a day, at least 1, 1, 1
Resources – just me
Measure – networks, content
• Facebook – fans, interaction, analytics, conversion
• Blog, Email subscribers and interaction
• Direct mail – date sent, discount code used
• Landing page – A/B test, conversion
Fancy tool – Spreadsheet, CRM
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Lets Try: Software SolutionDiscovery – buckets, listening, survey
Goals – industry expert, reputation
Plan – networks, content
• Blog
• Video Demos
• SEO
• PPC
• Direct mail
• Landing pages
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Lets Measure: Software SolutionTrack time – 1 post a week, video production, content creation
Resources – 3 person team
Measure – networks, content
• Blog – subscribers, comments
• Video – views, embeds
• Mailing list sizes and interaction
• Traffic, landing pages, search rankings, PPC
Fancy tools – ESP, CRM, Analytics, Spreadsheet
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Lets Try: An EventDiscovery – buckets, listening, survey previous attendees
Goals – Buzz, butts
Plan – networks, content
• Blog
• Live Video
• Facebook, LinkedIn, Eventbright
• Direct mail
• Signup and event survey
• Landing pages, codes
Lets Measure: An EventTrack time – content creation
Resources – just me
Measure – networks, content
• Blog – subscribers, comments
• Video – attendees
• Mailing list sizes and interaction
• Mentions, ReTweets, Posts
• Reward brand evangelists, sponsors
Fancy tools – Analytics, Spreadsheet
Need more?
• Vision Blog - http://www.hallme.com/blog
• Social Media 101 (book) - http://www.chrisbrogan.com/social-media-101/
• Engage (book) - http://www.briansolis.com/2010/01/engage/
• Brass Tack Thinking (blog) - http://www.brasstackthinking.com/
• Webinars – Every Tuesday at 2PM EST http://www.hallme.com/webinars
• Email Me: [email protected]
• Follow us! http://twitter.com/hall_web
• 'Like' Us - http://www.facebook.com/hallweb
• Slideshare: www.slideshare.net/amandahallme
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