Leverage Zilliz Serverless - Up to 50X Saving for Your Vector Storage Cost
Social Media ROI presentation for the Mayo Clinic conference
1. Social media = ROI?
Measuring your hospital’s
social media efforts
1
Tuesday, October 18, 2011
2. About me
• Director, Digital Marketing and
Communications, Inova Health System
• Six hospital not-for-profit system serving
the Washington DC area
• Advisory Board Member,
Mayo Clinic Center for Social Media
• Consultant for more than 100 hospitals/
physician practices
2
Tuesday, October 18, 2011
3. What we’re covering today
• How social media is different
• Importance of online communities
• Defining ROI
• What and how to measure?
• Using a CRM and the engagement funnel
Download this worksheet: http://bit.ly/MayoRaganROI
3
Tuesday, October 18, 2011
4. Why does the discussion of social media ROI
sometimes make me feel like this? 4
Tuesday, October 18, 2011
5. What’s the controversy?
We all should strive to give the best care,
have the best relationships and be fiscally
sound with health care social media.
Simple.
5
Tuesday, October 18, 2011
6. A house
divided against
itself cannot
stand
- Abraham Lincoln
6
Tuesday, October 18, 2011
7. Why are we
doing this
to ourselves?
7
Tuesday, October 18, 2011
8. How social media is different
"A group of Internet-based applications that build on the
ideological and technological foundations of Web 2.0, and
that allow the creation and exchange of user-generated
content." - Andreas Kaplan & Michael Haenlin
8
Tuesday, October 18, 2011
9. How social media is different
"A group of Internet-based applications that build on
the ideological and technological foundations of Web 2.0,
and that allow the creation and exchange of user-
generated content." - Andreas Kaplan & Michael Haenlin
9
Tuesday, October 18, 2011
10. How social media is different
"A group of Internet-based applications that build on the
ideological and technological foundations of Web 2.0, and
that allow the creation and exchange of user-
generated content." - Andreas Kaplan & Michael Haenlin
10
Tuesday, October 18, 2011
11. How social media is different
"A group of Internet-based applications that build on the
ideological and technological foundations of Web 2.0, and
that allow the creation and exchange of user-
generated content." - Andreas Kaplan & Michael
Haenlin
11
Tuesday, October 18, 2011
12. How social media is different
"A group of Internet-based applications that build on the
ideological and technological foundations of Web
2.0, and that allow the creation and exchange of user-
generated content." - Andreas Kaplan & Michael Haenlin
12
Tuesday, October 18, 2011
13. How social media is different
"A group of Internet-based applications that build on the
ideological and technological foundations of Web 2.0, and
that allow the creation and exchange of user-generated
content." - Andreas Kaplan & Michael Haenlin
• Two-way participation
• Transparency
• Credibility
• Trust
• “Communities of Interest”
13
Tuesday, October 18, 2011
15. Continuum of “I-Don’t-Care”
Don’t Care Care somewhat
Care deeply
(not engaged) (kinda engaged)
g Op inions
S harin
esearching
R
iscovering
D
15
Tuesday, October 18, 2011
16. Social media establishes relevance
Building trust throughout the “Continuum of I-Don’t-Care”
Facebook
Gowalla
Forums
Twitter Flickr
SMM
UStream Yelp!
Digg
SlideShare LinkedIn Local Angie’s List
Tumblr Amplify Listings
Microsites g Op inions
Foursquare User S harin
Groups
YouTube esear ching
BlogsR
iscovering
D
16
Tuesday, October 18, 2011
17. Social networks are
how we connect.
Communities of interest are
why we connect.
17
Tuesday, October 18, 2011
19. MyHealthybaby.org
• 900 “Find a Doctor” requests
• 650 “Baby and Me” eNewsletter subscribers 19
Tuesday, October 18, 2011
20. What can (or do) you measure?
• Friends, fans & followers
• Reach, relationship & reputation
• Strength, sentiment & passion
• 100 ways to measure:
http://bit.ly/100ways
Where’s
the beef
(ROI)?
20
Tuesday, October 18, 2011
21. Is ROI truly “ROI”?
• Return on Results (ROR)
• Return on Opportunity (ROO)
• Return on Engagement (ROE)
These are very important, but they aren’t ROI.
They’re success measures.
21
Tuesday, October 18, 2011
22. ROI should always be tied to $$$
“Social Media ROI reflects any other marketing-related ROI:
the net financial revenue to the organization from the effort,
after having accounted for the effort's costs.
FI-NAN-CIAL
money
dough
bottom line
coin
or, as I like to call it,
ROI”
- Chris Bevolo (@IntervalChris)
22
Tuesday, October 18, 2011
23. ROI = (financial gain/savings - cost)
cost
Contrary to popular belief,
there is ROI in everything
23
Tuesday, October 18, 2011
24. If you’re not
impacting one
of these...
...why
bother?
24
Tuesday, October 18, 2011
25. Using social media to drive growth goals
• Engage and drive communities of interest to act
• Rely on strong (and measurable) call-to-actions
• Lead social media efforts to conversion points
• Build engagement through the “Continuum of I-Don’t Care”
Tip(s):
• Promote elective, “consumer-choice” procedures/programs
• Use social media to promote foundation activities 25
Tuesday, October 18, 2011
26. Using Facebook to promote bariatrics
• Identify Facebook audience in No.VA interested in
weight-loss
• Create two ads promoting bariatric seminars
• Direct ads to landing page
• $479 monthly spend
26
Tuesday, October 18, 2011
27. The results:
• Over three month period: 296 clicks/month
• .03 CTR (average CTR for Facebook PPC is .02)
• $1.62/click
• 30 seminar registrations
• 23% seminar registration/surgery conversion rate
• Average $3,000 contribution margin from surgery
• $20,700 profit originated from campaign
27
Tuesday, October 18, 2011
28. Calculating ROI
ROI = (gain - cost)/cost
Gain: $20,700
Cost: $479 x 3 = $1,437
ROI = (20,700 - 1,437)/(1437) = 13.4 or 1340%
28
Tuesday, October 18, 2011
29. Wait a second...
you didn’t tell me there
was going to be any math!
29
Tuesday, October 18, 2011
30. Using social media to lower marketing
& communication costs
• Aggregate and populate (“be everywhere”)
• Train spokespeople on social media best-practices
• Train social media staff on media handling
• Remember communications is different than marketing
• Emphasize story-telling
Tip(s):
• Publish press releases on your website, and link to them
• Use social media to gather additional stories from patients
• Have social media complement your marketing efforts for more reach
30
Tuesday, October 18, 2011
31. Viral promotion of back pain lecture
• Dec 2010 – Back Pain lecture held by Spine Surgeon
• Event live-streamed and live-tweeted
• Watched by over 200 viewers online
• Picked up by local media – 200K media impressions
31
Tuesday, October 18, 2011
32. Viral promotion of back pain lecture
Potential ROI calculation:
• Total reach of the program: 200K impressions
• 10% of actual audience will see the message*: 20,000 people
• 20% of those seeing the message will find it relevant*: 4,000
• 10% of those finding it relevant will want to learn more*: 400
• 10% of those with interest will will have surgery: 40
• Average contribution margin for spine surgery/rehab:
$20,000
• Total cost to promote program: fixed (let’s say $2000)
*These are assumptions that should be negotiated
32
Tuesday, October 18, 2011
34. Another success measurement
• Jun 2011:
Question: Can you calculate ROI from this?
Answer: Yes.
Cost for video streaming & live-tweeting: fixed (let’s say $2K)
Avg. CM for neck surgery/rehabilitation: $20,000
34
Tuesday, October 18, 2011
35. Using social media to increase patient
& physician satisfaction & loyalty
• Provide relevant information to “non-consumers”
• Often used for crisis management & service recovery
• Monitor real-time feedback
• Educate and act transparently
• Correlation vs. causation
Tip(s):
• Create a wellness campaigns
• Promote the breadth of your hospital’s offering
• Use a CRM! 35
Tuesday, October 18, 2011
36. Using social media to promote wellness
• 7,300 registrants
• 575 Facebook followers
• 5,000 updated CRM records (2,300 entirely new records)
• 500 cross-promoted into other eNewsletter programs
Tuesday, October 18, 2011
36
37. Revenue through FitFor50
• 325 participants to enroll in fundraising fitness run
(ROI: $20 x 325 = $6500)
• Life-to-date utilization (contribution margin):
• “New” patient CM: $38,000
• “Former” patient CM: $274,000
• Total CM: $305,600
Correlated vs. Causal ROI
37
Tuesday, October 18, 2011
38. Other ways to measure patient interest
www.inovaheart.org
38
Tuesday, October 18, 2011
39. Other ways to measure patient interest
• 9,374 recipients/2,047 opens
• 55 (20.9%) clicks were in the
FAQ section about the price of
the vaccine
• 68 (25.9%) clicks were in the
FAQ section to find out where to
get the shot
• 28 (10.6%) clicks were in the
FAQ section asking who should
receive the vaccine
• 22 (8.4%) clicks were in the FAQ
section to read more FAQs
• 38 (14.4%) clicks were on the big
red find a clinic button
• 21 (8%) clicks were on the big
blue button with the phone
number and “click for more info”
language
• 9 (3.4%) clicks were to sign up
for e-newsletters
“Fight the Flu” • 7 (2.7%) clicks were to find an
Inova physician
email
• 9 (3.4%) clicks were to attend an
Inova fitness class 39
Tuesday, October 18, 2011
40. Measuring engagement with a Customer
Relationship Management (CRM) database
40
Tuesday, October 18, 2011
41. CRM myths & fears ... “exposed”
• Building brand and loyalty is enough
• We don’t have a CRM system, so I can’t measure
• Math scares me
• If we measure we might find we’re not doing too well
41
Tuesday, October 18, 2011
42. Social Media ROI rag by Chris Boyer
Social Media ROI
If you’re not gonna measure it
Then why you even doin’ it?
It’s easy if you try
Just like your marketing
You should measure everything
Put your metrics in a chart
Simple ‘cause it’s a start (and it’s smart!)
Social Media ROI
Impress your CFO
It’s the only way to go
42
Tuesday, October 18, 2011
43. Questions?
Chris Boyer
@chrisboyer
www.christopherboyer.com
@InovaHealth
www.inova.org/socialmedia
43
Tuesday, October 18, 2011
