ROI on Social Media Campaigns by M. Adil Khan MKTG 6226 at Schulich, YorkU
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Hi. Here's my presentation on ROI of Social Media campaigns. This was done as part of my class MKTG 6226 / Social Media Marketing and Management at the Schulich School of Business, York University, Canada. Do leave your feedback on curiousadil.blogspot.com. You can also catch me on Twitter @M_Adil_Khan09. Hope you'll like it! Enjoy!
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ROI on Social Media Campaigns by M. Adil Khan MKTG 6226 at Schulich, YorkU
- 1. SHOW ME THE RETURN!!! MKTG 6226 – Social Media Marketing @ Schulich, YorkU Topic - #SMROI by M. Adil Khan
- 2. ROI = Gain from Investment – Cost of Investment ------------------------------------ Cost of Investment Back To Basics!
- 3. Survey Says… 40% of respondents did not know whether they could track ROI from SM tools
- 4. $3M in Sales Through Twitter…
- 5. Sales Registrations Referrals Links (the currency of the social web) Votes Reduction in costs and processes Decrease in customer issues Lead generation Conversion Reduced sale cycles Inbound activity ROI in Web 2.0
- 6. User Driven Marketing Connection Creation Consumption Control “…My dog has started shedding like crazy and has horrible gas and coat smell. Stool frequency is the same as with something cheap…” by Wade43, Lake Charles, L.A. ROI ?? …20% lower return rate for products with reviews, 45% for products with more than 25 reviews Savings on shipping, restocking, and customer service costs
- 7. Duuude, it’s not just about ROI…u gotta listen to your customers as well…
- 8. Sentiment Analysis…?? Source: Mashable.com
- 9. ROI on a PR Campaign…?
- 10. Establish clear objectives for ROI: Brand Awareness Brand Engagement Word-of-Mouth Use metrics to calculate ROI or use them as “listening posts” Conclusion
- 11. YouTube http://www.youtube.com/watch?v=lmIMp6p3gf0 @M_Adil_Khan09 on Twitter #SchulichSMM and #SMROI http://curiousadil.blogspot.com Catch the presentation on…
Notes de l'éditeur
- 3 million results in google, I found return on engagement, return on trust… 1500 videos on youtube and still there’s no agreement on whether ROI can be measured or not..so let’s start with the basic…where rOI would be the profit from the investment in the social media campagin – cost of investing / cost of investment. Sounds simple? Apparently not..
- A 2009 survey showed that 84 % of respondents did not measure ROI, while 40% did not even know roi could be tracked through SM tools…It could also be due to not knowing how % of sales came through SM channels…
- Let’s look at an easy example..so dell has a twitter account from which it sends out tweets about offers,,,it’s crossed 3m in sales through twitter in 3 years and the only way it knows that this sm channel is working is not by the number of tweets or followers it has…its coz of the promo code that buyers have to enter on the website..
- In addition to sales, companies can use these metrics to match it to their campaign objectives . Ex , a new firm with a new product would be looking at getting referrals from newly formed customers, links to other websites etc …as brand awareness would be the major issue here, roi objectives can be shaped accoridngly. Are you purely in social media for sales?· Are you in social media for awareness?· Are you in social media to build a brand online?· Are you in social media for engagement with customers and suppliers?· Are you in social media to actively participate within your industry?
- The article on ROI flips the concept and asks about the investment that a customer would have 2 make in your brand..why wud any1 be interesting in knowing about your product, engaging with it and even letting others know over the internet??
- Crmson hexagon – monitored around 4500 tweets …to know positive, negative or neutral reaction for the movie,,,while it would be difficult to know how many of these twitter users watched the movie,,or got influenced by it,,,would it be possible for marketers to see a a positive conversation between such conversations and increase in sales….Or what if this pie was for a procut and u wanted to know what people think about the design,,anduw ere able to note from here and make changes,,,how would u calculate the ROI on it in advance??
- Facebook fans, retweets, site visits, video views, positive ratings and vibrant communities are not financial assets--they aren't reflected on the balance sheet and can't be counted on an income statement--but that doesn't mean they are valueless. Instead, these are leading indicators that the brand is doing something to create value that can lead to financial results in the future.