Measuring the ROI of Social Media: Qualitative and Quantitative Metrics
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Giving a overview on ROI of Social Media Qualitative and Quantitative measurement practice @ the India Search Summit 2010.
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Measuring the ROI of Social Media: Qualitative and Quantitative Metrics
- 1. ROI of Social Media Measuring the Un-Measurable @soravjain www.facebook.com/learnsocialmedia
- 2. Social Media is like Teen Sex Sex Avinash Kaushik, Analytics Evangelist, Google Everyone wants to do it. Nobody knows How? When it's finally done there is surprise it's Not Better - Avinash Kaushik, Analytics Evangelist, Google
- 3. “High / Wrong Expectations!”
- 4. What Investment? www.facebook.com/learnsocialmedia
- 5. Is Social Media an extension of business ethics? Should there even be a “return”? www.facebook.com/learnsocialmedia
- 6. Brand Awareness Trust Passion Qualitative Loyalty Benefits Insights Conversations Interaction www.facebook.com/learnsocialmedia
- 7. …..but you’ll probably be told that stuff is hard to measure www.facebook.com/learnsocialmedia
- 8. It IS easy to measure, just not with usual success metrics… … It doesn’t just boost sales but impacts the overall organization growth.. www.facebook.com/learnsocialmedia
- 11. Know which needles* you want to move and. www.facebook.com/learnsocialmedia
- 12. Know which needles* you want to move and how to keep track.
- 13. Know which needles* you want to move and how to keep track. *be strict and choose metrics that actually translate into a business context for your organization. www.facebook.com/learnsocialmedia
- 14. Does Number of Followers Define ROI? It is a meaningless metrics………….. “IGNORE” www.facebook.com/learnsocialmedia
- 15. Define Success Metrics Few Examples: Number of people who filled in the “get more info” form Number of influential blogs that linked to us Number of repeating, unique visitors Number of people who visited website via Facebook, Twitter or LinkedIn Number of new customers / sales Number of features suggested by users that we actually implement Number of new things we discovered about customers that we never knew before Number of new customers / sales Reduction in support costs Number of people in a specific location / demographic who follow us on twitter Number of Followers (During Viral and Advertising Campaigns) www.facebook.com/learnsocialmedia
- 16. Measuring Qualitative and Quantitative www.facebook.com/learnsocialmedia
- 17. Case 1: Star Bucks www.facebook.com/learnsocialmedia
- 19. A campaign to increase Satisfaction and Obtain Customer Feedback Success Metrics Goal As Implemented by Amount of feedbacks N amount of suggestions received. collected per month and N amount that you Amount of good actually suggestions that your implement. company hadn’t thought of Amount of the above that your company actually implements www.facebook.com/learnsocialmedia
- 20. Case 2: Ching’s Secret www.facebook.com/learnsocialmedia
- 21. A Campaign to Listen Consumers and Understand Consumer Behavior Success Metrics Goal As Implemented by - Media Coverage and To Gain Thought Leadership Positioning among Authorities To obtain both negative and - Quality of Feedback positive Number of followers N Number of followers by the end of this year Customers using Social N Number of customers should Media platform to engage use Social Media to engage with with the brand brand. Reduction in Research Profiling on Basis of Feedbacks Cost and Activities
- 22. Case 3: Paranormal Activity
- 26. Demand how?
- 27. By clicking
- 28. To watch the movie
- 29. Invite people to make it
- 30. Invite people to make it 1,000,000 Demands
- 31. How the Demand Grew?
- 32. By Spreading the Word Via
- 33. By Spreading the Word Via Emailing Friends
- 34. By Spreading tweeting the Word Via Emailing Friends
- 35. Using widget on blogs & websites By Spreading tweeting the Word Via Emailing Friends
- 36. Using widget on blogs & websites By Spreading tweeting the Word Facebook share Via Emailing Friends
- 37. Using widget on blogs & websites By Spreading tweeting the Word Facebook share Via Emailing Friends Pasting the links
- 38. Using widget on blogs & websites By Spreading tweeting the Word Facebook share Via Emailing Friends Pasting the links And the Most Effective??
- 39. Using widget on blogs & websites By Spreading tweeting the Word Facebook share Via Emailing Friends Pasting the links
- 40. Tweeting
- 41. Tweeting about Paranormal Activity Demand
- 42. Tweeting about Paranormal Activity Experience
- 43. Tweeting Paranormal Activity Reviews & Posting links to reviews by experts, videos, websites and blogs
- 44. Leading to a Paranormal Activity Conversation
- 45. Ample Paranormal Activity tweets & conversation makes it in the list of TRENDING TOPICS
- 46. Raising Curiosity among Tweeters who haven’t heard about Paranormal Activity!
- 47. Resulting in conversation, questions & need to know about Paranormal Activity!
- 48. Facebook Share and Fan Pages
- 49. More than 25 Paranormal Activity fan pages with maximum holding 1,00,000 fans Beyond 20 Paranormal Activity groups targeting individual countries
- 50. Activities on Fan Pages Hosting Parties
- 51. Activities on Fan Pages Raising interest among theatres to actively promote the movie and sell tickets to be a part of the party Pleading customers to purchase tickets to Hosting Parties support their nearby / favorite theatre. Also, providing information on left over tickets.
- 52. Activities on Fan Pages Raising interest among theatres to actively promote the movie and sell tickets to be a part of the party Pleading customers to Hosting Parties purchase tickets to support their nearby / favorite theatre. Also, providing information on left over tickets.
- 53. Activities on Fan Pages Uploading reaction videos
- 54. Activities on Fan Pages Uploading reaction Uploading reaction videos Photos
- 55. Activities on Fan Pages Uploading reaction Uploading reaction Discussions videos Photos
- 56. Facebook Share Positive People Conversation updating Status message about Paranormal Activity from personal profiles & on fan pages Raising curiosity among people who have not watched it yet!
- 57. Facebook Share Reactions on status messages on personal profile and fan pages Negative Positive feedback feedback
- 58. Facebook Share Reactions on status messages on personal profile and fan pages Negative Positive feedback feedback photos share, videos share, paranormal activity links share (to blogs, websites, reviews, news), FB applications etc..
- 59. Facebook Share Reactions on status messages on personal profile and fan pages Negative Positive feedback feedback photos share, videos share, paranormal activity links share (to blogs, websites, reviews news), FB applications etc.. Resulting In >>
- 60. Conversations
- 61. Conversations Conversations & Conversations
- 62. Conversations Conversations & Conversations Spreading Word of Mouth and Increasing Demand
- 63. Reason Why Company Fails! Research conducted by students of Great Lakes at ECHOVME as Interns
- 64. www.facebook.com/learnsocialmedia Sorav Jain Thinker in Chief ECHOVME Social Marketing Pvt. Ltd. Nungambakkam, Chennai www.echovme.com www.soravjain.com @soravjain on Twitter www.facebook.com/soravjain www.linkedin.com/in/soravjain I Love Questions!
- 65. Sources: • Yongfook - digital business incubator, based in Tokyo • ECHO VME and Great Lakes Institute of Management Joint Research Reports • www.soravjain.com • http://mashable.com/2009/10/13/paranorma l-activity-success/