objectives, strategies and indicators for social media marketing
DESCRIPTION
Research problem: What are appropriate objectives and strategies for social media marketing and which key indicators can be used to determine the ROI? Research questions: What is social media? What is ROI and how is ROI measured in traditional marketing? What is social media marketing? What are social media marketing objectives and strategies and which (revenue and cost) indicators can be identified to determine the ROI of these strategies? Author: Luc HelminkTRANSCRIPT
OBJECTIVES, STRATEGIES AND INDICATORS FOR SOCIAL MEDIA MARKETING
L.F. HELMINK – 28 AUGUST 2013
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Introduction
Research problem and questions
ROI, objectives, strategies and indicators
Methodology
Analysis and conclusion
PRESENTATION
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INTRODUCTION
Source: econostra.eu
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Research problem:
What are appropriate objectives and strategies for social media marketing and which key indicators can be used to determine the ROI?
Research questions:
What is social media?
What is ROI and how is ROI measured in traditional marketing?
What is social media marketing?
What are social media marketing objectives and strategies and which (revenue and cost) indicators can be identified to determine the ROI of these strategies?
RESEARCH PROBLEM AND QUESTIONS
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RETURN ON INVESTMENT
Source: integrit-network.com
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Brand awareness (Macdonald & Sharp, 1996)
Brand reputation (Herbig & Milewicz, 1995)
Brand ambassadors (Townsend, 1993; Chung, 2011)
OBJECTIVES
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Brand awareness Giveaways (Introcaso, 2011)
Brand reputation Interacting with customers (listen, respond, engage) (Riveong, 2008)
Brand ambassadors Providing exclusive offers (Falkow, 2012)
STRATEGIES
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A Delphi study
Consensus criteria
Respondents
METHODOLOGY
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4 open questions with subquestions
10 respondents (83% response rate)
Age & gender of the respondents
DELPHI STUDY – FIRST ROUND
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Other objectives proposed by the respondents:
Direct sales
Improving customer service
Recruitment
Brand commitment / engagement
DELPHI STUDY – FIRST ROUND
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Strategy for brand awareness: Giveaways (Introcaso, 2011)
Other strategies proposed for brand awareness:
Advertising
Content marketing
DELPHI STUDY – FIRST ROUND
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Strategy for brand reputation: Interacting with customers (Riveong, 2008)
Other strategies proposed for brand reputation:
Monitoring
Using fan input (e.g. co-creation)
Improving customer service
DELPHI STUDY – FIRST ROUND
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Strategy for brand ambassadors: Providing exclusive offers (Falkow, 2012)
Other strategies proposed for brand ambassadors:
Involvement of fans in product development
Offline friend event
DELPHI STUDY – FIRST ROUND
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Revenue indicators
Brand awareness: increase in the number of fans, volume of interactions, NetPromoterScore
Brand reputation: increase in the number of positive interactions, number of times a brand actively interacts, number of resolved complaints
Brand ambassadors: number of reposts/shares, number of consumers that have access to an exclusive offer, number of spontaneous positive reactions
DELPHI STUDY – FIRST ROUND
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Cost indicators
Cost of community management
Cost of advertising
Cost of application development
Cost of monitoring and webcare tools
DELPHI STUDY – FIRST ROUND
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10 respondents (83% response rate)
Closed questions in the form of propositions
Likert scale
DELPHI STUDY – SECOND ROUND
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Objectives
DELPHI STUDY – SECOND ROUND
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Brand awareness
DELPHI STUDY – SECOND ROUND
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Brand reputation
DELPHI STUDY – SECOND ROUND
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Brand ambassadors
DELPHI STUDY – SECOND ROUND
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Revenue indicators
Brand awareness: increase in the number of fans, volume of interactions
Brand reputation: increase in the number of positive interactions, number of time a brand actively interacts, number of resolved complaints
Brand ambassadors: number of reposts/shares, number of spontaneous positive reactions
DELPHI STUDY – SECOND ROUND
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Cost indicators
DELPHI STUDY – SECOND ROUND
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