social media roi measurement workshop university central florida

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Social Media Measurement Pam Moore CEO / Founder Marketing Nutz @PamMktgNut

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Social media roi measurement requires alignment to business goals. Select business goals and objectives where social can have the greatest impact. Know what transformations you want to make by leveraging and integrating social media into the DNA of your business. Know the difference between social business and social media. This presentation was delivered as part of a workshop for the University of Central Florida Nicholson School of Communication. Feel free to leverage content with full attribution to source with link to http://www.themarketingnutz.com and http://www.pammarketingnut.com. No copy/paste or duplication of content is permitted. Protected by Copyright 2014.

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Page 1: Social Media ROI Measurement Workshop University Central Florida

Social Media Measurement

Pam Moore CEO / Founder Marketing Nutz @PamMktgNut

Page 2: Social Media ROI Measurement Workshop University Central Florida

Pam Moore CEO /Founder

http://www.pamslinkedin.com @PamMktgNut

Marke&ng  Nutz  Founders  

Josh Moore CCO /Founder

http://linkedin.com/in/joshroinut @JoshROINut

Page 3: Social Media ROI Measurement Workshop University Central Florida

“Experience helping brands of all size bridge complex gap to social

success.”

why  Marke&ng  Nutz?  

Founders have 30+ years combined experience in digital

marketing, corporate brand, startups & platforms.

“PHD in acronyms not required. We help you fit social business in a nut shell so you can focus on what you do best, your business!”

“CEO, best selling author recognized by Forbes as Top 10 Social Media Power Influencer +

Top 10 Social Media Women Influencers!

Page 4: Social Media ROI Measurement Workshop University Central Florida

Embrace    the  

JOURNEY!    

Page 5: Social Media ROI Measurement Workshop University Central Florida

Social Business Success

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social business “Becoming a social business transforms the organization from the inside out, connecting the internal with the external in a way that enhances relationships and creates shared value for the people, the business and ecosystem as a whole.”

Page 7: Social Media ROI Measurement Workshop University Central Florida

social media “Refers to the means of interactions among people in which they create, share, and exchange information and ideas in virtual communities and networks.”

Page 8: Social Media ROI Measurement Workshop University Central Florida

Brand “A brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another. If the consumer (whether it’s a business, a buyer, a voter or a donor) doesn’t pay a premium, make a selection or spread the word, then no brand value exists for that consumer.” ~Seth Godin

Page 9: Social Media ROI Measurement Workshop University Central Florida

Why  should  we  do  social?  

Page 10: Social Media ROI Measurement Workshop University Central Florida

Measuring  &  worrying  about  the  wrong  things  

Source: Creative Commons

Page 11: Social Media ROI Measurement Workshop University Central Florida

Quit selling your CEO Twitter!

11

Page 12: Social Media ROI Measurement Workshop University Central Florida

1.3B  mobile  workers  by  2015  

Source: IDC

Page 13: Social Media ROI Measurement Workshop University Central Florida

90%  mobile  users  have  device  within  arms  reach  100%  of  &me  

 

Page 14: Social Media ROI Measurement Workshop University Central Florida

Houston  we  have  a  failure  to  

communicate  

Page 15: Social Media ROI Measurement Workshop University Central Florida
Page 16: Social Media ROI Measurement Workshop University Central Florida

start  from  inside  out  

Page 17: Social Media ROI Measurement Workshop University Central Florida

•  Strengths  and  weaknesses?    •  Demonstrate  impact  of  strategic  work  •  What  training  is  required?    •  Change  management  needs?    •  Categories  for  readiness  assessment  

•  Mindset  •  Stakeholder  buy-­‐in  •  Realis&c  expecta&ons  •  Roles    •  Customer  profile  •  Market  analysis  •  Compe&&ve  analysis  •  Brand  Readiness  

•  Processes  •  Organiza&onal  model  

•  Communica&on  •  Educa&on  •  Monitoring  •  Repor&ng  •  Budget  

Assess  readiness  to  be  social  

Page 18: Social Media ROI Measurement Workshop University Central Florida

Source: Altimeter Group

Language matters

LOB/Geo Stakeholders

Social Strategist/Community Manager

•  Business metrics: revenue, CSAT, reputation.

•  Social media analytics: Insights, share of voice, resonance, WOM.

•  Engagement metrics: fans, followers, clicks.

Corporate

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communities create markets

Opportunity Harvest

Free    member  

Paid    member  

Loyal    evangelist  

Community Zone Customer Zone

$$

Page 20: Social Media ROI Measurement Workshop University Central Florida

Stop  dancing  around  &  start  dancing  with  ROI!    

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benefits – costs costs = x100

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Without  STRATEGY  there  is  no  ROI    

Page 23: Social Media ROI Measurement Workshop University Central Florida

Stop the Random Acts of Marketing (RAMs)

=

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Your Mission Understand where your audience is hanging out online & learn how to have a relevant conversation with them that helps meet business goals.

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• WHO are you talking to?

• WHAT do they need?

• WHEN will they engage with you?

• HOW can you help?

• WHERE do they want to talk?

• WHY should they care? Why should you invest?

Page 26: Social Media ROI Measurement Workshop University Central Florida

People don’t buy things, they join things

NOT about CONTROL

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think  DNA,  not  tools    

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relevance    

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Maslow’s  hierarchy  of  needs  

Morality, creativity,

spontaneity, problem solving, lack of prejudice,

acceptance of facts

Self-esteem, confidence, achievement, respect of others, respect by others

Friendship, family, sexual intimacy

Security of body, employment, resources, morality, family, health, property

Breathing, food, water, sleep, homostasis, excretion physiological

safety

belonging

esteem

self-actualization

Page 30: Social Media ROI Measurement Workshop University Central Florida

hierarchy  of  social  community  inspira&on  

self-

actualization

esteem

belonging

safety

physiological

achieve

connect

inspire

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humanize  it  

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human  brands…    •  Think like humans •  Care about humans •  Value relationships •  Listen to other humans •  Talk like humans •  Have a personality •  Show their “human” •  Make & own their mistakes •  Are available •  Know themselves •  Know their audience •  Invest in people •  Take risk

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My  Brand  is…  •  What I say •  What I do •  What I think •  What I tweet •  What I post on Facebook •  What I Instagram •  What I write in email •  What I share •  How I respond •  How I interact on & offline! •  How I drive!

• ME!

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Tech Enthusiasts

Visionaries

Pragmatists

Conservatives

Skeptics

Technology  Adop&on  

Geoffrey Moore Technology Adoption Lifecycle

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Social media plugs into your Business

Bus

ines

s

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Pick Goals where social can have an impact

Align Social with top Business Goals

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We use

POST strategy to frame the Social Media Strategy

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POST+GM P  

O  

S  

T  

People Identify WHO & assess their social activities

What do you want to accomplish? WHY?

Plan for how relationships with the “people” will change

Decide which social technologies to use

G Goals

What metrics will be used to measure success

Objectives

Strategy

Technology

Metrics M

Set goals for achievement, qualitative & quantitative

Based Upon POST Methodology Source: Forrester Research

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Select  tools  AFTER  you  know  WHAT  you  want  to  measure  and  WHY!    

sales

thought leadership

customer

satisfaction

employee empowerment

leads brand

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Where  are  you  going?  •  Key Performance

Indicators help measure transformation

•  Business goals /objectives define where you are going and why

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Know  desired  shibs  (changes)    

•  Brand awareness new markets •  Sentiment shifts •  Thought leadership •  Decrease sales cycle •  Increased customer

satisfaction •  Community growth •  Influencer / advocate tribes •  Sales

Page 42: Social Media ROI Measurement Workshop University Central Florida

It’s not what the technology can do for you but what you can do with the technology!

outcomes  

Page 43: Social Media ROI Measurement Workshop University Central Florida

1.   Brand  awareness  2.   Brand  loyalty  3.   Customer  sa&sfac&on  4.   Market  Research  5.   Compe&&ve  Intelligence  6.   Shorten  sales  cycle  7.   Decrease  service  costs  8.   Lead  Genera&on  9.   Revenue  

common business goals

Page 44: Social Media ROI Measurement Workshop University Central Florida

1.   Social  listening      2.   Thought  leadership  3.   Nurture  rela&onships  4.   Build  community    5.   Earn  loyal  brand  advocates  6.   Maximize  reach  in  exis&ng  &  

new  markets  7.   Support  sales  /  marke&ng  

campaigns  8.   Talent  recrui&ng  &  reten&on  

common social media business goals

Page 45: Social Media ROI Measurement Workshop University Central Florida

Popular  Social  Media  Tools    Social Media Management •  Hootsuite •  Sprout Social •  Buffer (schedule posts) Social Monitoring •  Sysmos •  Radian 6 •  Trackur •  Social Mention •  Brandwatch Build Twitter Following •  Twellow •  Social Bro •  Manage Flitter •  Triberr (+blog traffic, community)

Social Measurement •  Social Bakers •  Sprout Social •  Tweetreach (Twitter) •  Twitonomy •  Pinalytics (Pinterest) •  Likalyzer (Facebook) •  BlitzMetrics (Facebook) •  Sumall •  Argyle

Blog / Website •  Google Analytics •  Alexa •  Kissmetrics •  Webtrends •  IBM CoreMetrics

Page 46: Social Media ROI Measurement Workshop University Central Florida

evaluate  each  ini&a&ve  Impact How does it support an objective?

What metrics matter?

Readiness Do we have

people who can do this?

Is there budget?

Risks What are the risks

if we do this? What if we don’t?

Priority Does this initiative

enable other work?

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Embrace  OPCs  

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Empower  internal  brand  evangelists  

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ac&vate  influencers  

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Questions?

Pam Moore CEO / Founder Marketing Nutz @pammktgnut www.pammarketingnut.com www.themarketingnutz.com