Measuring the ROI of Social Media
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Presented at the Mid-Atlantic Marketing Summit, Social@Ogilvy VP Leigh George discussed how to measure the ROI of Social Media and why that was so important. You can follow her presentation and others on #mamsummit
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Measuring the ROI of Social Media
- 1. Measuring the ROI of Social Media Leigh George | Vice President September 2013
- 2. @leighgeorge #MAMSummit Why should I spend money on social?
- 3. @leighgeorge #MAMSummit Most of us are measuring the wrong stuff
- 4. @leighgeorge #MAMSummit Measure “hard” objectives • Increase awareness among target audience by 15% • Increase revenue to $5M • Drive 15,000 downloads of fact sheet on the importance of health screening • Encourage 20,000 adults to quit smoking
- 5. @leighgeorge #MAMSummit Reach • What’s the total size of the audience exposed to the message? • What’s the target audience exposed to the message? Preference • What’s the exposed audience’s preference for brand? Action • What bottom line actions did the exposed audience take, e.g. purchase? Use a results-focused measurement framework Positioning • What’s the exposed audience’s perception of the brand? 1 2
- 6. @leighgeorge #MAMSummit KPIs vs. diagnostic metrics KPIs Are we winning or losing? • KPIs should align to the brand’s business objectives • Are our social media efforts affecting behavior as we want? Diagnostic Metrics Which levers do we need to pull? • Identify what changes need to be made to engagement strategy in order to improve KPI performance • Are we executing our messaging strategy properly? • Is our content resonating?
- 7. @leighgeorge #MAMSummit How we measure KPIs Video Views Number of Wall Posts Number of New Fans/Likes Reach and Positioning ActionPreference Impressions, Share of Relevant Voice Attributable Leads/Sales/Behaviors Sentiment, Share of Positive Voice Survey-based Brand Positioning Survey-based Sales/Behaviors Survey-based Brand Preference Likes Per Post Media Uploads (videos, photos) Link Click-throughs Link Shares DiagnosticMetrics
- 8. @leighgeorge #MAMSummit 1. Number of women who hear about the program 2. Percentage of women surveyed who said they would marry John 3. Listening to hallway gossip to find the percentage of women who think thinks John is more husband material than Irfan 4. Number of marriage proposals John gets pre “Date Doctor” program and post program 5. Number of women/guys who friend John on Facebook 6. Number of times a women views John’s “I want to get married video” 7. Number of people who enter the “I want to marry John contest” Exercise: KPI or Diagnostic Metric? Objective: Find John Mayer a wife Reach Positioning Preference Action
- 9. @leighgeorge #MAMSummit Client pitch •Budget •Measurement expert Setting Objectives •Development of benchmarks and goals •Development of surveys •Measurement expert Strategy and Activation Planning •Administer pre-launch surveys •Start monitoring program Launch Program •Interim surveys and metric analysis Checkpoints and Program Adjustments every 1-3 months Measurement and Evaluation •Measurement expert •Final survey •Analysis Incorporate measurement at every stage
- 10. @leighgeorge #MAMSummit Always-on cross media attribution tracking
- 11. @leighgeorge #MAMSummit Leigh George Vice President Social@Ogilvy Email: leigh.george@ogilvy.com Twitter: @leighgeorge LinkedIn: linkedin.com/in/leighgeorge Connect with me
Notes de l'éditeur
- Need to confess something about myselfI like to question thingsI’ve always asked whyAnalytics has always bothered me—like the emperorers new clothes-you’re ignoring something obvious
- Miranda Priestly from devil wearspradaWHAT’S THE ROI OF SOCIAL? TELL ME ABOUT BUSINESS IMPACT, NOT ENGAGEMENT. Direct clicks from social are contributing less than 1% of my total sales. That’s pretty dismal.
- We use the metrics that the platforms give us but is that the best way?it is what clients care about? Should they care about themThese are things marketers care about—we can collect them so we should report on them Are we actually measuring ROI are we measuring engagement—do businesses care about that? Everyone thinks that numbers are important as long as they’re big but is that really the case. Are we using the right model?
- Setting [hard] goals (i.e. around revenue or profits)—something that is directly related to biz goals, quantifiableWhich is a hard and which is a soft goal?SoftIncrease awareness Generate increased engagement among fan/follow baseHardIncrease awareness among target audience by 15%Drive 15,000 downloads of fact sheet on importance of health screeningEncourage 20,000 adults to quit smoking
- Reach kpiPreference kpiPositioning kpiKpi preferencediagnosticdiagnosticdiagnostic
- People don’t act as the result of a single touchpoint so last-click attribution models don’t workNeed an always-on cross-media attribution tracking approach to evaluate the business impact driven by digital, social, mobile and others. Across owned earned and paid channelsChannel combinations are essential to understandOur Marketing Impact™ solution provides cross-media analytics and detailed attribution analysis to enable ROI and market mix optimization.