25 ways to measure and analyze your social media marketing ROI
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25+ ways to measure and analyze your social media marketing efforts depending on the level of maturity of social media for your business.
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25 ways to measure and analyze your social media marketing ROI
- 1. 25 Ways to Measure & Analyze your Social Media Milena Regos Out&About Marketing Nov 1, 2012 An inside view on the outside world
- 2. “Marketing metrics inspire certainty and confidence. Cannabis has much the same effect.” Tim Ambler Professor Emeritus at London Business School, summed up several decades of research into marketing measurement Photo Image: Flickr by Gecko.Juice
- 3. 53% of marketers don’t measure their social media success Source: Awareness
- 4. yet 83% of marketers indicate that social media is important for their business Source: Social Media Examiner
- 5. 80% of world’s online population uses social media Source: Comscore
- 6. Because of social media, I’m more likely to: Try new things based on friends’s suggestions 80% Encourage my friends to try new products 74% Stay more engaged with the brands I like 72% Share any negative experiences with brands or products 42% Not buy certain products because I learned of a negative customer experience 32% 0% 20% 40% 60% 80% Source: MarketForce
- 7. 81% of respondents indicate that posts by friends directly influence their purchase decisions Source: MarketForce
- 8. 78% of respondents indicate that posts by companies directly influence their purchase decisions Source: MarketForce
- 9. What Do They Measure? Fans&Followers 96% Traffic 89% Mentions 84% Share of voice 55% Sentiment 51% 0% 25% 50% 75% 100% Source: Awareness
- 10. 84% state that customer/ community insight is the primary business value from social media Source: Altimeter Group
- 11. Reno - Tahoe Social Media Marketers measure: 90% 81% 67.5% To get the full report: outandaboutmarketing.com 45% 22.5% 19% 19% 14.3% 0% Fans/Followers Leads Sales ROI Source: outandaboutmarketing.com
- 12. Social Media ROI Cycle Grow Engage Monetize Fans Quantitative Traffic Followers Qualitative Inbound Links Split testing Brand Sentiment Conversion ROI Fcommerce
- 13. There is no “one- size-fits-all” approach
- 14. What’s the ROI of measuring your ROI?
- 15. Quantity of Fans & Followers Source: Facebook Analytics
- 16. New/Lost Fans
- 17. 8000 316 6000 4000 6816 2000 139 1729 0 March 2012 Oct 2012
- 18. Facebook Twitter YouTube Vimeo Instagram 70000 7,700 52500 7,553 35000 5,481 17500 2,957 2,653 6,655 56,543 45,968 21,163 15,565 0 Brand A Brand B You Brand C Brand D
- 19. Quality of Fans & Followers Source: PageLever
- 22. Number of Comments, Likes & Shares Source: PageLever
- 27. Amplification Rate (Shares & Retweets) Source: Commun.it
- 28. How far your tweets traveled Source: TweetReach
- 29. Number of Mentions in News Media Source: Flickr: NS Newsweek
- 30. Number of Social Media Mentions Source: radian6
- 31. Sentiment of Social Media Mentions Source: radian6
- 33. Source: WildFire
- 34. Source: WildFire
- 35. Number of check-ins in geolocation services
- 36. Competitive Research (Twitter) Source: FollowerWonk.com
- 37. Source: Social7
- 38. Source: Social7
- 40. Change in SALES and/or REVENUE ROI: 2,616% Case study on outandaboutmarketing.com
- 41. Content metrics • Unique Visitors • Page Views How? Google Analytics • Search Engine Traffic How much? • Bounce Rate - less than 40% Free • Conversion Rate - 5% or higher • Inbound links
- 42. Search engine ranking change
- 43. Social Media exclusive discounts and offers
- 44. Leads/conversions to social media landing pages
- 45. Customer acquisition cost
- 46. Change in Net Promoter Score
- 47. Change in brand perception
- 49. Directly Financial Risk Management Financial perspective perspective Short Term LongTerm Digital Brand perspective perspective Indirectly Financial Source: Forrester Research Inc
- 50. Software Providers • Google Analytics • Awareness • Facebook Insights • Simply Measured • Bit.ly • Argyle • Twittercounter • SproutSocial • PageLever • WildFire • Commun.it • Klout • SocialBakers • PeerIndex • HootSuite • radian6
- 51. “Essentially all models are wrong, but some are useful”. George E.P. Box
- 52. Questions? Milena Regos Out&About Marketing outandaboutmarketing.com milena@outandaboutmarketing.com Twitter: @milenaregos An inside view on the outside world