Social Marketing ROI & Beyond Measuring Return and Relationships Special Guest: Dave Wieneke www.usefularts.us / @usefularts 1 The Biz 100 Tour: 100 Events on Starting and Growing Your Business presents Hosted by Ja-Naé Duane Author of “How to Start Your Business with $100” www.ja-nae.net / @TheSunQueen
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Social Marketing ROI and Beyond: Measuring Return and Relationships
Part of Ja-Nae's Biz100 Tour: 100 Events on Starting and Growing Your Business:
This presentation takes on one of the hottest topics in marketing today, of how to measure social marketing's contribution to your business. It explains why calculating the value created by social marketing is different from other kinds of marketing or investment.
This session includes a step-by-step demonstration how to use any analytics package (we'll use Google Analytics) to segment and compare how people from social campaigns connect with your firm. You'll get real-world examples of how to better connect social marketing to business results, and go beyond tactical results to manage your social strategy as a tangible asset.
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
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Social Marketing ROI & BeyondMeasuring Return and Relationships
Special Guest:
Dave Wienekewww.usefularts.us / @usefularts
The Biz 100 Tour: 100 Events on Starting and Growing Your Business
presents
Hosted byJa-Naé Duane
Author of “How to Start Your Business with $100”www.ja-nae.net / @TheSunQueen
www.usefularts.us2
Does This Situation Sound Familiar
In Ten Days We Need 40% more booth sales.All marketing budget has been spent.Can Social Marketing fill the gap?
www.usefularts.us3
Does This Situation Sound Familiar
In Ten Days We Need 40% more booth sales.All marketing budget has been spent.Can Social Marketing fill the gap?
> What Assets Do You Have? - A List of Prospects? - Are They Aware of the Event? - Are They Predisposed to Do Business with You?
www.usefularts.us4
We Can Measure Financial Investment ROI
Investment Type Risk Duration ReturnCD Low 6 mos 2%
Bond Med 2 yrs 10%
Asset Purchase Med 15 yrs Break even 2yrs. 12% for asset life.
Cable TV Low 3mos 5:1
Billboards Med 6mos 2:1
Direct Mail Med 6 weeks 3:1
www.usefularts.us5
What’s Ahead: Strategy + Hands on Tactics
A New Way to Think of Social ROI.
How to Focus on Results.
Advanced Segmentation to Measure
The Social Channel.
Why You Must Set Conversion Goals.
Some View of the Future of Social Marketing Measurement.
www.usefularts.us6
Conventional Business Thinking Prefers
Business Results
Booked SalesTrack leads from source
Lead Volume
The Value of Anything I’d Otherwise Budget For.
Email & RSS Subscribers
Not Activity
Follower / Friend Count
# of Comments Left
Page views.
Influence Scores
Social Booking
www.usefularts.us7
Why Can’t We Cut to the Bottom Line
Investment is Sources + Uses
Advertising is Stimulus + Response
Why are we missing in social marketing.
www.usefularts.us8
Marketing Goes Deeper In To Customer Relationship
Traditional Marketing-push messaging-interactive-automated-technology dependant-mass & niche
broadcast printradio
outdoor
networkscommunities
blogsmicro blogs
lower engagement higher engagement
Social Engagement-dialogue-driven by consumers-personal-people and technology-niche
Traditional Marketing-push messaging -broadcast-message oriented -formal-authoritative-mass
bannersmicro sites
e-mailsearch
www.usefularts.us9
Real Social Media is Consumer not marketer controlled.
Skipping from campaign to result omits the core of social
marketing: the consumer relationship.
Consumers control social media.
“”
www.usefularts.us10
Most Investments Are Like Switches
www.usefularts.us11
Social Media is a Faucet
www.usefularts.us12
Since Social Media is driven by consumers, you must
measure their investment in your brand. “ ”
www.usefularts.us13
Social Business Thinking Requires Both
Tactical Results
Booked SalesTrack leads from source
Lead Volume
The Value of Anything I’d Otherwise Budget For.
Email & RSS Subscribers
Consumers Investment in You
Follower / Friend Count
# of Comments Left
Page views.
Influence Scores
Social Booking
www.usefularts.us14
We Put New Faces Forward.
www.usefularts.us15
Show Some Deeper Values
www.usefularts.us16
Not All Benefits Are Financial,Those That Are, May Not Be Immediate
What’s the value of a volunteer advocacy?
www.usefularts.us17
The Things That Make Us Relevant In Life Usually Are Off the Balance Sheet.
www.usefularts.us18
Firms Using Only Highly “Result” Measurable Channels May Miss the Best Part.
57* Disclaimer: opinions expressed are Dave’s, trademarks belong to their respective owners.I’m not a lawyer but I help market them on tv. This presentation contains no legal advice or opinions.