What is the value of my brand’s social media presence? This presentation will demonstrate the steps required to measure the return on your investment- including setting objectives and what you should be aiming for with a social media presence. This session will also explore Measurement on Facebook and other social media sites. Bringing terms like ’virality,” “Reach”, “Talking about vs Engaged Users" into plain language; what they mean for your brand and benchmarks to aim for.
9. The secret is focus
Investment cost Action Response Financial gain
- Staff costs - Set up a Blog METRICS METRICS
- Media spend - Facebook page NIGHTMARE SIMPLICITY
- etc - etc
FROM TO
10. The Metrics Nightmare
CONNECTIONS RESOLUTIONS BENCHMARKING
CHANNEL ANALYSIS RESPONSE TIME
SENTIMENT
COMPETITOR ANALYSIS KPIʼS
BEHAVIOURAL TRENDS LEARNINGS
REPORTING
VIRALITY
& DEMOGRAPHICS
EVALUATION ANALYSIS ENGAGEMENT
COST PER VIEW ACTIONABLE INSIGHTS
REACH
INTERACTIONS GEO-LOCATION
PERFORMANCE
RECEPTIVITY
FREQUENCY
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11. Value of Social Media
Tactical Listening, feedback,
campaigns insights, research
Trust
CRM
WOM,
Awareness sharing
gain - cost
ROI = Testing
Brand cost
engagement
Sales
Identifying
opportunities, lead
generation, acquisition Retention, loyalty
SEO CLV
13. THE PROCESS
SET OBJECTIVES
ESTABLISH METRICS
MEASURE & REFINE
14. SETTING OBJECTIVES
Without set goals, how do we know what
constitutes success?
Business Objective Business Metric Social Metric
Improve financial % of enquiries resolved
Reduce call centre traffic
performance via SM
Reduce injuries & deaths Increase awareness Achieve 100k video views
17. AWARENESS
- Impressions - how many times your message/ad appears on
computer screens
- Reach - how many individual people see your message/ad
- Potential reach - how many people you could potentially
reach
- CPM - Cost per 1,000. Online advertising charged at a cost
per 1,000 impressions. These ads are usually to drive
awareness.
- Share of Voice - how many of the relevant conversations
online are about your brand vs competitors
18. AWARENESS
Equivalent Media Value (EMV): If you
normally pay $X per 1,000 impressions
for digital display advertising, you can
work out the EMV of your social media
efforts.
e.g. $7 CPM
Impressions/1000 x $7 = EMV
19. AWARENESS
How do we work After running an
out the awareness advertising
of PIZZA campaign on
SCISSORS on Facebook how do
social media? we measure our
ROI?
20. CONSIDERATION
Sentiment - the feeling behind a conversation in relation to
particular criteria e.g. brand, product, campaign, event etc.
21. MEASURE YOUR
CONVERSATIONS
Social media allows for a 2-
How many people are talking
way dialogue - use this to your
about you?
advantage!
What are they saying?
Are they reacting to your
posts, or posting of their own
accord?
What is the sentiment around
these conversations?
22. MEASURE YOUR
CONVERSATIONS
Social media allows for a 2-
way dialogue - use this to your
advantage!
Use the insights gained from
monitoring these
conversations to inform your
strategies.
23. CONSIDERATION
How many people are talking about
PIZZA SCISSORS?
What are they saying?
Are they reacting to your posts, or
posting of their own accord?
What is the sentiment around these
conversations?
PIZZA SCISSORS vs competitors?
24. PREFERENCE
Engagement - how many people are engaging with your content
(clicks, Likes, comments, RTʼs, @replies, shares, favourites etc.)
Virality - Facebook metric (Reach/Reactions [Likes, Comments,
Shares]). Measures of those who saw your post, how many
created a story on Facebook about it for their friends to see.
Sentiment - feeling behind a conversation.
CPC - Cost per Click. Online advertising charged on a per click
basis. Great for when you want someone to take an action.
25. THE VIRAL NATURE OF
SOCIAL NETWORKS
Social media allows your messaging to
spread faster than any other marketing
before - it can go viral!
Measure how things spread & try to work out
why for your brand/business. Leverage this
to get your messaging in front of as many
people in a relevant way as possible.
26. THE VIRAL NATURE OF
SOCIAL NETWORKS
Post
Newsfeed 1 Newsfeed 2 Newsfeed 3
Like Comment
Friends see Friends see
action action
Friend also
Likes post
34. RECAP / KEY TAKEOUTS
SOCIAL MEDIA IS A MINEFIELD OF QUALITATIVE AND QUANTITATIVE METRICS:
The key is selecting the right metrics that match your business objectives = ROI
PROCESS -
1. Set objectives (SMART)
2. Establish metrics
3. Measure and refine
THINK ABOUT WHERE YOU ARE AT IN THE MARKETING FUNNEL
What stage should you focus on?
THERE ARE MANY FREE AND $ TOOLS OUT THERE TO HELP YOU - USE THEM
and refine, refine, refine!
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