measuring social media roi in plain english, followed by social media news for may10th

Open Social Media: Free and Open Education

Measuring Social Media ROI in Plain English

Sherry NourainiFounder/President

Captive Touch


What kind of an impact do your activities on social media channels have on accomplishing your business goals?

• Let’s define some terms


• Business goals/objective Specific, measurable, written down

• Tactics Specific steps you take to get you closer to accomplishing your business goals

• Key Performance Indicators Specific events you will track to judge if your tactics are driving the kind of behavior you desire from your target market


How do you decide what tactics to use and what KPIs to measure?

• The choice depends on your potential customers:

Where are they in their buying journey?

Are you even on their radar?


• What is a customer buying journey?

• How do you define it?

The most widely used means is the marketing/sales funnel

• See next slide.


Customer buying journeyDetermine where your potential customers are

Do they know you exist?

Did they view your information?

Did they ask for more information?

BINGO!

Are they satisfied with yourService/product?

Are they referring you toOthers?


Let’s look at some hypothetical examples

In Honor of Mother’s Day, I’ve chose a Flower business for our examples:

• Example #1: Well established and widely known business in the flower industry

- ProFlowers, 1-800-Flowers etc

• Business goal: Increase their Mother’s Day Flower sale by 50%

• Where are potential customer in the funnel?• What tactics should they use based on that?


Most people

What tactics should they use?What would the KPIs be?


Let’s assume: 1/2 FB fans, Twitter and Pinterest followers bought last yearTactic:

• 3 weeks before Mother’s Day announce daily limited edition deals on “Flowers for your mom”.

• Share link to landing page showcasing the collection of limited edition flowers on sale.

• Assign a specific landing page and special promo code for each social network.

KPI: • Number of click through to the landing page• Number of flower orders with each promo code


Calculating ROI and effectiveness of Social Media

ReturnDollar amount sold associated with social media specific promo code

Investment: In this case would be mostly time spent by employees during the3 weeks of promotion:

• Creating the landing page• Creating the images• Posting the updates on social networks

Goal= Total Net sales this year Total Net sales last year

ROI = Net Return-Investment Investment


• Example #2: New Flower business

• Competitive Advantage: Online tool to help customize a flower arrangement for your mom.

• Business Goals: To gain 100 customers by Mother’s Day

• Where are potential customer in the funnel?• What tactics should they use based on that?


Everyone is here

• Each step in the journey needs It’s own goal, and and tactic.

• Does not necessarily translate into monetary measurements of ROI, but they would assist reaching the business goal

• Social media is the assist

Assume 50% successAt each transition


Start in January in order to get sales in May (5 months)Awareness

• Tactic: From Jan-March, find target market on Twitter, Google Plus, Pinterest, Facebook and engage at least 400 people on all of these platforms• KPI:

Number of people who followed your brand page on these social media networks

Twitter, Pinterest and Google plus follower Facebook Fans

• ROI: Keep track of all employee time and fees spent for social media tools and services


Interest• Tactic: In month of April, start a contest and invite people to use your software to build a custom flower arrangement for one of your employees. The employee would chose a winner, who will then receive a free something.• KPI:

Number of people who entered the contest and tried the software. During the contest you can collect email addresses for additional touch points

• ROI: Keep track of all employee time and fees spent for tools for creating the contest and the money spent on the prize.


Desire and/or Action• Tactic:

3 weeks before Mother’s Day announce daily deals on custom-made “Flowers for your mom”.

Share link to landing page as a gateway to your the deal.

Assign a specific landing page and special promo code for each social network.

• KPI Number of click through to the landing page Number of flower orders with each promo code


Calculating ROI and effectiveness of Social Media

ReturnDollar amount sold associated with social media specific promo code

Investment: Investment of employee time and fees paid for contests and specialPromotions.

Goal= Total Net sales Achieved Total Net sales expected

ROI = Net Return-Investment Investment


Thank you for listening

Any questions?

You can find me here:

http://www.twitter.com/snourainihttp://www.facebook.com/captivetouch

http://www.gplus.to/sherrynourainihttp://www.linkedin.com/in/sherrynouraini


What’s new in social mediaand

What does this mean for you?May 10th, 2013

Sherry NourainiFounder/President

Captive Touch


Google Plus Hangouts

• Viewers can now rewind a live broadcast if they are late to a hangout on air

• Producers/hosts need to keep in mind:

There is about a one minute delay between the live show and what the public sees (those who are not direct participants)

It take about a minute from “Start broadcast” and ability to actually go live. There’s a prep time now.


Google Plus Hangouts

• Your connections do not have to have a Google plus account to hold a hangout with you.

• This is great cause one barrier to entry is removed

• You and your contact only need to install the Google Voice and chat plug-ins

• You can initiate hangouts right from your Gmail contact list