There's no silver bullet. But with a little work and a new interpretation of "ROI," measuring the benefits of social media is possible. This presentation includes real-world case studies, tons of KPIs and some easy formulas for metrics to get you started.

1. Understanding
Social Media ROI
Courtney Seiter | @RavenCourts
Raven Internet Marketing Tools |@raventools
raventools.com/smx

2. There's no silver bullet

3. • Only 20% of CMOs think social media
marketing produces measurable ROI.
• Only 19% of marketers feel confident in
measuring social media ROI.
• Only 13% say they are “very effective” at
determining social success.
Sources: Marketing Sherpa, Lenskold Group, Chief Marketer

4. Source: Wildfire

5. 1 weird old tip 3 weird old tips for
understanding social media ROI:
• Know your goals
• Align social metrics
• Break it down

6. Know Your Business' Goals

7. Types of Social Media Goals
• Brand Sentiment • Sales
• Share of Voice • Customer Support
• Reach • Product
• Engagement Development
• Brand Advocates • Marketing Insights
• Brand Trust • Brand Loyalty

8. Gilt Groupe
Goal: Solve shipping
costs barrier using
insight from online
community
Result: 10%
increase in shopping
cart conversion
Source: Communispace

9. AT&T
Goal: Address negative sentiment and unresolved
customer service issues on the social web
Result: 21,000 customer issues resolved
37,500 customers served
Source: Ant's Eye View

10. L'Oreal
Goal: Increase awareness and product sales at salons
Result: Participation by 6,000 salons, 21 million
impressions, 2.2 million engagements
Source: Forrester

11. Align Social Metrics with Goals
Source: Awareness

12. Get More Specific!
• Reduction in sales cycles
• Reduction in customer support costs
• Number of product improvement suggestions
from [social network]
• Increase in product reviews/ratings
• Number of people in [specific location] who
follow us on Twitter

13. Measuring Brand Sentiment

14. Measuring Customer Support
Reduction Reduction Increase
in Support in On-Site Resolution
Costs Support Rate
Improved Leads
Customer Generated
Happiness by Support

15. Measuring Product Innovation
Number of new Number of new
product ideas product ideas built
Research time Traditional research
saved cost savings

16. Break it Down
• By goal
• By campaign
• By time period
• By medium
• Even by post

17. To measure Share of Voice compare
brand mentions to competitors.
Source: Web Analytics Demystified & Altimeter Group

18. To measure Engagement, measure
participation.
[Social Network] Interactions
Engagement = Engagement
Total Views
Source: Web Analytics Demystified & Altimeter Group

19. To measure Reach, compare audience
participation to your audience reach.
Source: Web Analytics Demystified & Altimeter Group

20. Other KPIs to Consider
• Volume of consumer- • Ranking
created buzz improvements
• Seasonality of buzz • Number of
• Rate of virality interactions
• Embeds/installs • Store locator views
• Increases in searches • Registrations by
channel

21. Use event tracking and campaign
variables in Google Analytics to assess
content virality.

22. http://gaconfig.com

23. Thank You!
Courtney Seiter
Raven Internet Marketing Tools
@RavenCourts | raventools.com/smx