wwt 2010: social media roi

Principles of Social Media ROI

MODERATOR:

Roz Lemieux

Need Help? Press *7 to un-mute phone lines orcall ReadyTalk Support at 1-800-843-9166

PANALISTS:

Beth Kanter and Lauren Vargas,

www.womenwhotech.com1


Need Help?Call ReadyTalk Support at 1-800-843-9166

PANELISTS:

Beth Kanter and Lauren VargasMODERATOR:

Roz Lemieux

Perspectives from three women who lead the pack

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www.womenwhotech.com

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A little housekeeping:


A little housekeeping:

• The webinar will be recorded. A link to the recording and the slides from today’s presentation will be emailed to you later today.

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• Phones will be muted.

Stay engaged!• Please ask questions and comment by: Typing in the chat box. We’ll respond via chat

or over the phone when appropriate. If it is information to share with the whole audience, we’ll chat it to everyone.


What we’re going to cover today …..

• Welcome and Introduction• Icebreaker: What words come to mind

when you think about social media ROI?• Assumption• 8 Principles of ROI• Q/A

Roz LemieuxFission Strategyhttp://www.fissionstrategy.com

Lauren VargasRadian6 PowerSHIFT Bloghttp://www.radian6.com/blog/

The Root Reporthttp://www.rootreport.com/

Beth Kanterhttp://www.bethkanter.org

Quick Polls

Enough about us, what about you?

When you think about phrase “Social Media Return on Investment” what words comes to mind?

Type these into the chat ….

Return on Investment (ROI)

Created by DuPont and used by Alfred Sloan to make General Motors manageable.

An analysis that looks at the benefits, costs, and value of a technology initiative over time.

Redefining ROI

A Few More ‘I’ Words …

Assumption: Set clear objectives and have identified audience

Anyone want to share their SMART objective for social media? Type into the chat.

• Identify Benefits: Tangible/Intangible• Link metrics to goals• Mix Traditional and New Metrics• Track the Entire Funnel• Spreadsheet Aerobics• Track Your Time: Don’t Waste It• Use Financial Formulas to Make Your Case• Communicating Results


1. Identify Benefits: Tangible and Intangible

Tangible: Easily Converts to $ or TimeMarket ResearchMainstream media mentionsInquiries for programProgram IdeasIncreased Relevant Visitor TrafficIncreased Page RankingsFundraising – reach new donors – both small and large’ DonationsLeadsSubscribersMembersSaved Time Saved CostsIncreased page rankIncreased media attentionSigned petitionsCalls or emails to government officials

Intangible: Difficult to Translate, But Still Important

Insights about what worksEmployee Social GraphsInteraction EngagementReputationLoyaltySatisfactionSentimentFeedback

2. Link Metrics linked to objectives

More Followers, they like me, they really like

me!

Metrics as therapy

Metrics as detective work

Why was there a spike in Twitterfollowers?

Metrics and Measurement

2404/11/2023- Copyright © 2010 Radian6

Prepared by:BrandX

Insights

The new product and announcement created a large amount buzz which directly contributed to a 30% increase in total post volume for the monitored topic profile of

Brand X mentions.

Overall the reaction to the new product release was positive in sentiment with no major issues reported expect for some minor troubleshooting issues that were

resolved by technical support.

The release of the new product and the positive reviews around that event cause a 11% shift in brand sentiment towards the positive. This 88.5% positive marked a

record high for the past 3 months.

3. Mix Traditional and New Metrics

Counting eyeballs to …

Share of conversation


Prepared by:BrandX

Share of Conversation

INDUSTRY90%

BRANDX 10%

INDUSTRY: Overall industry volume maintained at approximately the same levels as the previous week pulling in 9040 posts in total, a 1% drop as compared to the last week.

Brand X pulled in 10% of the industry share of conversation for the week representing a full 2%

gain as compared to the previous week.


Prepared by:BrandX

Top Influencers by Media Type

Micromedia recorded the most volume by media with blogs in second.

Micromedia

Blogs

Comments

1.

2.

3.

Facebook4.

5.

Blogs88: 9.8%

Micromedia756: 83.8%

Forums9: 0.1%

Mainstream News2: 0.3%

Comments37: 4.1%

Facebook13: 1.4%

Mainstream News6.

Forums

Top Influencers - Micromedia This week’s rank Last week’s rank

@Techreview # 1 # 4

@industry analyst # 2 # 6

@influencer # 3 # 9


Prepared by:BrandX

Conversation Breakdown

Company Content47: 5.2%

Company Outreach268: 29.7%

Sales Lead28: 3.1%

Troubleshooting/Support36: 3.9%

Product Inquiry39: 4.3%

Product Review202: 22.4%

General Product/Company Coverage284: 31.4%

The largest conversation area for the week was General Product and Company coverage which consisted of general mentions of the company and non-review mentions of the product X590.

3104/11/2023

Prepared by:BrandX

Brand Overview Summary

The week centered around the product release of the X590 and the resulting buzz/troubleshooting issues. Overall it was a positive week with gains in all the main areas reported on.

Volume

904 posts ( 30% )

Sentiment

88% positive ( 5% )

Engagement

29.1%( 6.2% )

Share of Voice

24%( 11% )

Share of Conversation

10% ( 2% )

TrendsCORPORATE BLOG

PRODUCT INQUIRY

23%77%

21%79%

PRODUCT RELEASE

SUPPORT QUESTIONS

14%86%

51%49%

4. Track the Entire Funnel

@seanpower - nonprofit metrics geek

5. Spreadsheet Aerobics

Measure the What and Why

Learn the Language of Data

Testing, Testing, Testing

http://www.flickr.com/photos/striatic

Open-Ended Question

6. Track your time

6. Use Financial Formulas to Make Your Case

• Compare the total costs • of different solutions• Compare the total costs • with the benefits• Compare the costs • of not doing the project • Identify pilot goal to identify

cost/benefit

7. Communicating Results

ROI Storytelling Techniques

Don’t show all, but have it ready

What happens if ROI is negative?

Go Beyond the Tool

• Identify Benefits: Tangible/Intangible• Link metrics to goals• Mix Traditional and New Metrics• Track the Entire Funnel• Spreadsheet Aerobics• Track Your Time: Don’t Waste It• Use Financial Formulas to Make Your Case• Communicating Results


What small action will you put into practice about social media ROI after this session? Type into the chat.

http://socialmediametrics.wikispaces.com/WomenWhoTech

Thank you!

wwt 2010: social media roi

Technology