4 ways to measure the roi of your social media efforts
DESCRIPTION
Social media can no longer be an isolated element in your marketing plan. And, like your other marketing initiatives, social media marketing needs to be held to KPIs so that you can insure success and positive ROI from your investment. The tools and platforms are changing fast, but this session will cover some of the best ways to measure the direct effect social media has on your business.TRANSCRIPT
Four Ways to Measure the ROI of Your Social Media Efforts
October 2, 2010
Connect with Pandemic Labs
Matt Peters
Founder & Creative Director
www.pandemiclabs.com
www.pandemiclabs.com/blog
@PandemicLabs
What’re We Gonna Talk About?
• The Foundations of social media marketing success
• Four ways to measure ROI– Awareness– Engagement– Revenue– Lifetime value comparison
• Q&A
THE FOUNDATION
Foundation for Success
• These are the primary pillars of a successful social media strategy
• Everything undertaken must serve at least one
• Ideally, strategies serve all three pillars simultaneously
METRICS TO MEASURE
Awareness
• How many consumers are you reaching?
• Website Exposure
• Facebook Exposure
• Twitter Exposure
DEV = Digital Exposure Value
Engagement
• What is an engagement?
• Blog Measurement
• Facebook Measurement
• Twitter Measurement
Revenue
• Often the hardest to correlate to social media activities
• Link Tracking & Tagging
• Consumer Flow Analysis
• Coupon Codes
• Baseline Comparison
Lifetime Value Comparison
• Complicated and takes a long time
• Requires existing CRM
• Control group, and Fan group
• Compare consumer activity over a period of time
Review: KPIs to show ADR Success
• Awareness• Exposure• DEV
• Engagement• Multiple forms, one metric
• Revenue• Link Tagging• Consumer Flow Analysis• Coupon Codes
• Lifetime Value• Easiest with Facebook Fans
Questions