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Measure,
Monitor and
React to increase
your Social
Media Marketing
ROI with Michael
Leander
     Michael Leander on
     Twitter
These slides were presented by marketing
speaker Michael Leander at a free Markedu web
seminar

You can check here to see more free web
seminars about marketing, social media, email
marketing, branding and more
ROMI in Social Media Marketing
Today’s content
• Introduction to ROMI (Return on Marketing
  Investment) also known as Marketing ROI
• How to identify social media marketing goals
  or KPI’s
• How to calculate the ROI for social media
  marketing activities
• Which tools to use to monitor and measure
  your social media marketing ROI
90-9-1 rule of thumb

• 90% will only consume content
• 9% will engage periodically, but only when the
  conversation stirkes them as interesting
• 1% is the engaged audience driving the
  conversation in your social community. They
  support and provide value for the community
  to read, hear, view
ROMI in Social Media Marketing
Half the money I spend on
advertising is wasted; the trouble
is I don't know which half.
John Wanamaker (1838-1922)
The sole purpose of marketing is to get
more people to buy more of your product
or service, more often, for more money.
That is the only reason to spend a single,
dollar, yen, euro. If your marketing is not
delivering paying customers to the cash
register with their wallets in their hands
ready to buy your product or service, don’t
do it.
Marketing, no matter what practitioners
thought in the past is more science, than art.
It is no longer necessary to rely on hunch,
hope, mythology and experience or on
creative breakthroughs and divine
illumination.

The data and tools currently exists to
dramatically improve a company’s marketing
programs for new and established products
and services.

All that is required is the will to use them

Dr. Kevin J. Clancy
ROMI in Social Media Marketing
Where are the challenges?
Short vs. long term effect and impact
on cash-flow in social media marketing
A bit about my own experience (mostly
relevant to small businesses or not)
Hunter   Farmer
Much of the time I spend on
social media [marketing]
activities is relevant; the
trouble is I don’t know which
[and why]

Michael Leander, 2011
Roy         Ruth

      VS.   ROT = Return on Time
More work

 More
 details    ROT Problem

  More
 numbers

  More
 people?

  More
 money?
ROMI in Social Media Marketing
What is ROI? A simple example

  Marketing campaign investment of €100.000
  Generates product revenue of €500.000
  Cost of goods € 250.000
  Cost of sales € 100.000
  Gross marging equals: € 150.000

  Marketing ROI is 50% (invested € 100K and
  returned €150K)
The complexity of numbers for ROMI

    Net
            Tracking actual    Returns &
  present
             gross margin     Referral value
   Value

Customer lifetime Value (Incremental
         Customer Value)
ROMI in Social Media Marketing
What is providing the highest ROMI?




  Don’t believe other people’s surveys. Find studies relevant to your
  situation, your market, your region
Where should you be?
How should you be there?
How do you know you are in the right place?
How do you prove your business case?
How do you justify your investment?
How do you improve your results?
ROMI in Social Media Marketing
Defining owned, paid and earned media
ROMI in Social Media Marketing
Four approaches – where are you?
                              Basic ROMI                       Full ROMI


                                                                                              • Be realistic in
                                You measure only                You measure everything
                                                                and completely.               terms of what you
                                certain parts of the
                                funnel in order to
                                                                Your organization
                                                                understands and agrees
                                                                                              can track
                                                                                              • Work with
    ROMI Measurement




                                understand the                  with the choices you
                                response value of               make because there’s
                                your activities
                                                                solid data to support         estimated numbers
                                                                your investments.
                                                                                              if you don’t know
                                                                                              the exact figures
                                You don’t measure the           Calculate ROI on some         • Measuring partly is
                                                                investments. have a
                                performance of any of
                                your investments. In fact,      general idea of how your      much better than
                                marketing is viewed as a        investments perform           not meausuring at
                                cost, not an investment at      relative to each other, but
                                all. Your company isn’t         you can’t pinpoint the        all
                                sure what works and what        exact return you’re
                                doesn’t, and it’s a struggle    generating.
                                to meet goals.

                       (c) Michael Leander

                                        Dedication to ROMI
How to identify social media
marketing goals or KPIs?
In your market, who is buying now ...
                      3% are buying now

                       6-7% are open to the idea


                     30% are not thinking about it


                  30% don’t think they are interested

                  30% are sure they are not interested
ROMI in Social Media Marketing
What is your objective?

              • Convenience
Customer      • Allow other customers to service their peers
 service


              • Inform/Educate customers
              • Push promotional messages
Customer
retention     • Allow customers to review/endorse


              • Acquire permissions for dialogue
              • Inform/educate
 Customer
acquisition   • Promote
Simple tracking of results

• If you cannot properly track all channels, start
  with the bottom up approach

• Let me show you how – it is simple
Getting started

• Start with the end in mind
  – What is your purpose – what
    do you want to accomplish
• Outline the ideal funnel
  – Steps in the funnel
  – OTS = Opportunity to See
  – Incubation time
• Define your mix & assets
• Understand what to track
  and how to track
Create your funnel
Get this slide when you complete
the evaluation survey
AID+LIRA
Attention > Interest > Desire + Like – Interaction – Recommendation - Action
Putting a value to your goals

• The value of a like/fan/member?
• The value of a share/recommendation
• The value of an email permission
• The value of a lead requesting certain
  information
• The value of a customer
Examples from my businesses

• We only measure these things and put a
  monetary value on each
  – A permission to email: € 5
  – A concrete sales lead: € 200
  – A firm order: € 700

• But we track our progress by measuring
  – Fans/likes/members
  – Website traffic & conversions
  – Recommendations and endorsements (NEW)
Simple tracking – B2B example

• Track where leads come from
• Add opportunities when they arise allows to
  track total revenue by source of lead
ROMI in Social Media Marketing
www.socialmention.com



Listen and alerts
- Setup alerts for your brand
names / company name etc
- Take notice of your sentiment
- Interact with ”talkers”
- Beware of what people see
when using services such as
social mention
Dashboard keeps you up to date
http://swixhq.com/
Is this relevant to your marketing ROI?



                                 http://www.klout.com
ROMI in Social Media Marketing
• Campaigns
• Attach content to
  campaign
• Measure effect of
  campaign
• Measure effect of
  content
ROMI in Social Media Marketing
THE STREAM MIX
MEASURING
                 27



                  18

            22

             21

                  0
                      29

            39

                  41
                      14

             34
Live example of tracking results and reacting
51
The measuring e-cosystem
   User                        Post                 Campaigns        Contents
                                                                                       Reports
Management                  Management              Management      Management

•Multi-User              •Multi-channel           •Goal Setting                     •Multi-
                                                                   •Landing Pages
•Multi- Org              •Scheduling              •Web Analytics                    dimensional
                                                                   •Media Library
•Role Based              •Automation              •Strategic                        • Date-Time
                                                                   •Polls
-------------------      •Customizable            •A/B Testing                      Range
                                                                   • Branded URL
•Asset                   •Workflow                •RSS Feed and                     •Export to CSV
                                                                   • WhiteLabel
•Followers                                        Media                             • Downloads


                                       Comprehensive Analytics


                                                       API’s
                      User Interface




                                                                                            Applications
                                                                                             Business
                                                             Mobile Apps

                                                                              Coupons
5 people to get free 1 telephone
consulting about your social media
ROI – value of € 350

send me an email to
mln@fokusintegrated.com
Learn more about this topic

Michael Leander is an international
marketing speaker. He has spoken in 35+
countries and at countless webinars..

Find him here
http://www.twitter.com/michaelleander
Speaking: http://www.michaelleander.me
Consulting: http://www.michaelleander.com

Email: leander@michaelleander.com

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ROMI in Social Media Marketing

  • 1. Measure, Monitor and React to increase your Social Media Marketing ROI with Michael Leander Michael Leander on Twitter
  • 2. These slides were presented by marketing speaker Michael Leander at a free Markedu web seminar You can check here to see more free web seminars about marketing, social media, email marketing, branding and more
  • 4. Today’s content • Introduction to ROMI (Return on Marketing Investment) also known as Marketing ROI • How to identify social media marketing goals or KPI’s • How to calculate the ROI for social media marketing activities • Which tools to use to monitor and measure your social media marketing ROI
  • 5. 90-9-1 rule of thumb • 90% will only consume content • 9% will engage periodically, but only when the conversation stirkes them as interesting • 1% is the engaged audience driving the conversation in your social community. They support and provide value for the community to read, hear, view
  • 7. Half the money I spend on advertising is wasted; the trouble is I don't know which half. John Wanamaker (1838-1922)
  • 8. The sole purpose of marketing is to get more people to buy more of your product or service, more often, for more money. That is the only reason to spend a single, dollar, yen, euro. If your marketing is not delivering paying customers to the cash register with their wallets in their hands ready to buy your product or service, don’t do it.
  • 9. Marketing, no matter what practitioners thought in the past is more science, than art. It is no longer necessary to rely on hunch, hope, mythology and experience or on creative breakthroughs and divine illumination. The data and tools currently exists to dramatically improve a company’s marketing programs for new and established products and services. All that is required is the will to use them Dr. Kevin J. Clancy
  • 11. Where are the challenges?
  • 12. Short vs. long term effect and impact on cash-flow in social media marketing
  • 13. A bit about my own experience (mostly relevant to small businesses or not)
  • 14. Hunter Farmer
  • 15. Much of the time I spend on social media [marketing] activities is relevant; the trouble is I don’t know which [and why] Michael Leander, 2011
  • 16. Roy Ruth VS. ROT = Return on Time
  • 17. More work More details ROT Problem More numbers More people? More money?
  • 19. What is ROI? A simple example Marketing campaign investment of €100.000 Generates product revenue of €500.000 Cost of goods € 250.000 Cost of sales € 100.000 Gross marging equals: € 150.000 Marketing ROI is 50% (invested € 100K and returned €150K)
  • 20. The complexity of numbers for ROMI Net Tracking actual Returns & present gross margin Referral value Value Customer lifetime Value (Incremental Customer Value)
  • 22. What is providing the highest ROMI? Don’t believe other people’s surveys. Find studies relevant to your situation, your market, your region
  • 23. Where should you be? How should you be there? How do you know you are in the right place? How do you prove your business case? How do you justify your investment? How do you improve your results?
  • 25. Defining owned, paid and earned media
  • 27. Four approaches – where are you? Basic ROMI Full ROMI • Be realistic in You measure only You measure everything and completely. terms of what you certain parts of the funnel in order to Your organization understands and agrees can track • Work with ROMI Measurement understand the with the choices you response value of make because there’s your activities solid data to support estimated numbers your investments. if you don’t know the exact figures You don’t measure the Calculate ROI on some • Measuring partly is investments. have a performance of any of your investments. In fact, general idea of how your much better than marketing is viewed as a investments perform not meausuring at cost, not an investment at relative to each other, but all. Your company isn’t you can’t pinpoint the all sure what works and what exact return you’re doesn’t, and it’s a struggle generating. to meet goals. (c) Michael Leander Dedication to ROMI
  • 28. How to identify social media marketing goals or KPIs?
  • 29. In your market, who is buying now ... 3% are buying now 6-7% are open to the idea 30% are not thinking about it 30% don’t think they are interested 30% are sure they are not interested
  • 31. What is your objective? • Convenience Customer • Allow other customers to service their peers service • Inform/Educate customers • Push promotional messages Customer retention • Allow customers to review/endorse • Acquire permissions for dialogue • Inform/educate Customer acquisition • Promote
  • 32. Simple tracking of results • If you cannot properly track all channels, start with the bottom up approach • Let me show you how – it is simple
  • 33. Getting started • Start with the end in mind – What is your purpose – what do you want to accomplish • Outline the ideal funnel – Steps in the funnel – OTS = Opportunity to See – Incubation time • Define your mix & assets • Understand what to track and how to track
  • 35. Get this slide when you complete the evaluation survey
  • 36. AID+LIRA Attention > Interest > Desire + Like – Interaction – Recommendation - Action
  • 37. Putting a value to your goals • The value of a like/fan/member? • The value of a share/recommendation • The value of an email permission • The value of a lead requesting certain information • The value of a customer
  • 38. Examples from my businesses • We only measure these things and put a monetary value on each – A permission to email: € 5 – A concrete sales lead: € 200 – A firm order: € 700 • But we track our progress by measuring – Fans/likes/members – Website traffic & conversions – Recommendations and endorsements (NEW)
  • 39. Simple tracking – B2B example • Track where leads come from • Add opportunities when they arise allows to track total revenue by source of lead
  • 41. www.socialmention.com Listen and alerts - Setup alerts for your brand names / company name etc - Take notice of your sentiment - Interact with ”talkers” - Beware of what people see when using services such as social mention
  • 42. Dashboard keeps you up to date
  • 44. Is this relevant to your marketing ROI? http://www.klout.com
  • 46. • Campaigns • Attach content to campaign • Measure effect of campaign • Measure effect of content
  • 49. MEASURING 27 18 22 21 0 29 39 41 14 34
  • 50. Live example of tracking results and reacting
  • 51. 51
  • 52. The measuring e-cosystem User Post Campaigns Contents Reports Management Management Management Management •Multi-User •Multi-channel •Goal Setting •Multi- •Landing Pages •Multi- Org •Scheduling •Web Analytics dimensional •Media Library •Role Based •Automation •Strategic • Date-Time •Polls ------------------- •Customizable •A/B Testing Range • Branded URL •Asset •Workflow •RSS Feed and •Export to CSV • WhiteLabel •Followers Media • Downloads Comprehensive Analytics API’s User Interface Applications Business Mobile Apps Coupons
  • 53. 5 people to get free 1 telephone consulting about your social media ROI – value of € 350 send me an email to mln@fokusintegrated.com
  • 54. Learn more about this topic Michael Leander is an international marketing speaker. He has spoken in 35+ countries and at countless webinars.. Find him here http://www.twitter.com/michaelleander Speaking: http://www.michaelleander.me Consulting: http://www.michaelleander.com Email: leander@michaelleander.com