social media roi essentials: measuring what really matters€¦ · social media value social...

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Maria Saltz | Sr. Manager, Social Media Analytics

Social Media ROI Essentials: Measuring What Really Matters

@MariaSaltz

#DigitalPR


The Real Value of Your Social Followers

Customers that engage with brands on Social Media

Stronger purchase intent: ___% more likely to purchase from a brand

Greater actual spend: ____% more money spent than other customers

Deeper emotional commitment: _________ higher NPS score

- Bain Research, 2011

60

~40

33 points

#DigitalPR @MariaSaltz


Social Media Value

Social Contribution to Business Value

Social ROI

social marketing

social support

market research brand

reputation

community engagement

product innovation

talent acquisition

amplify PR, AR, IR

sales support



Social Media Value

measurable and

attributable

difficult to measure or

unknown



PR and Communications

Marketing and

Ecomm.

Customer Service and Support

Product Innovation

Awareness Dialog / Conversation Share of Voice / Influence Sentiment and Reputation Engagement Reach

Innovation and R&D Topic Trends Ratings & Reviews Sentiment New features from community

Marketing / Direct Revenue Revenue, Subscriptions Leads Social Campaign ROI Market Research Search Optimization

Support Measurement Call Volume Resolution Rate Resolution Time CSAT Score

Social Contribution to Business Objectives



Tips for Setting Up An Effective Measurement Strategy


Approach should be: Business Objectives → Goals → KPIs → Metrics → Targets

Limit your KPIs to 3. Other metrics may be used, but 3 ‘KEY’ ones.

Must be relevant, clear, and actionable

Factors influencing subtle KPI variations:

• business strategy

• market share

• market position

• product mix

• business model

• management team


Aligning Key Performance Indicators to Business Success

Business Objective

KPI 1

KPI 2 KPI 3 KPI 4 KPI 5

Awareness Social Community Growth

Share of Voice Volume of conversations, reach

% of positive, negative and neutral sentiment

Unique conversation contributors

Engagement % of community interacting with content

Interactions per follower

Content virality and velocity

“Likes”, re-tweets, shares, mentions, etc.

Campaign #hashtag use

Lead Generation Cost per lead from social channels

RFI submissions through social

Qualified sales leads from social

Reach within target audience

# of white paper downloads

Demand Gen/ Conversion

Revenue and Trial downloads through tracked links

Cost per acquisition Conversion rates and average order value from social

Revenue attribution for key influencers

On-site product reviews influence on conversion rates

Customer Support Cost savings (call deflection)

Avg. time to issue resolution

Change in sentiment around support issue

Number of issues resolved

Issue resolution rate per agent

Advocacy Number of active advocates

Volume of conversations driven by advocates

% of brand communication driven by advocates

Influence score and reach of advocates

Revenue attributable to advocates

Product Innovation Number of product ideas submitted

Number of ideas included in product development

Number of bugs reported and fixed

Size of community providing product feedback

Engagement rates in product forums



Social Media KPIs Dashboard



Comparing Social Campaigns to other Marketing Channels


Right Attribution Model is the one that answers your Business Question.

Social


What is the value of a Social Campaign?

Why: • Measure Campaign ROI on owned channels • Understand how Social is performing compared to other media

How:

• Use Campaign Codes in the URLs for each post • Social or Web Analytics tools track traffic and conversion from Social content

Facebook Post

Visit Website

Convert



Social Campaign Analysis


• Compare Campaign Effectiveness • Identify best performing content


What is a long-term impact of Social Media engagement?

Why: • Understand impact of Visitors that have engaged with Social content

(owned or earned) How:

• Segment out Site Visitors that have been referred by Social sites or campaigns any time in the past

Later…


Convert

Visit Website


Measuring Social Impact on Site Traffic & New Subscriptions

9% of traffic to Product Pages from Social Visitors (more than 12% during AdobeMAX Conference and Ship Announcement)

3.4X pre-announce volume

0%

5%

10%

15%

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10,000

20,000

30,000

40,000

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Visits to Prod Pages by Social Visitors % of Total Visits

Visits to Product Pages from Social

6.5% of new Subscriptions by Social Visitors (more than 8% during AdobeMAX Conference and Ship Announcement)

2X pre-announce volume

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100

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CCM Subscriptions by Social Visitors % of Total

AdobeMAX Pre-announce

Ship

New Subscriptions from Social

AdobeMAX Pre-announce Ship



Key Takeaways


Define Business Objectives and Goals

Determine 2-3 KPIs that show business impact

Set targets

Use supporting metrics to drill down into “Why?”

Set up tracking to answer specific business questions

social media roi essentials: measuring what really matters€¦ · social media value social...

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