mStoner Social Media ROI Winning political and financial support for Social Media on campus April 16, 2010 Rob Cima, Partner mStoner, Inc.
mStoner
Social Media ROIWinning political and financial support for Social Media on campus
April 16, 2010Rob Cima, PartnermStoner, Inc.
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ROI: It’s not just for accountants anymore
• Better direct activities
• More effective marketing and communication
• Justify budgets
• Improved accountability
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ROI Roadblocks
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Few good examples
• Avinash Kaushik, Google
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Can’t agree on what “Return” is
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Can’t agree on what “Return” is
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$RETURN =
$REVENUE - $INVESTMENT$INVESTMENT
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Intermediate vs. Final Outcomes
• Connections
• Retweets
• Fans
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• Event Attendance
• Donations to Annual Fund
• Employment by recent grads
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Foo Foo
• “Something pretty or cute with no utilitarian value”
• E.g. “Create community and increase engagement.”
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Metric Paralysis
• All metrics have problems
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Technology Hurdles
• Linking Social Media tools with existing back-end
• Multi-channel results. (e.g. engage on Linked in, and then phone call)
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Creating ROI “Experiments”
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Guiding Principles
• Quick Wins
• Connect the dots from activities to goal
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Quick Wins
• Small experiments at first
• Explicit is easier than implicit
• Focus on what’s working
• Build up over time
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ROI CYCLE
InvestReturn
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Goal:What success looks like,what we’re going toaccomplish.
ROI CYCLE
InvestReturn
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SMART Goal
• “Increase online donations from people who have graduated in the last 5 years by 20% by June 30, 2011”
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Goal:What success looks like,what we’re going to do.
ROI CYCLE
InvestReturn
Strategy:Main ways we’re going to achieve the goal.
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Goal:What success looks like,what we’re going to do.
ROI CYCLE
InvestReturn
Strategy:Main ways we’re going to achieve the goal.
Action:Activities we’re goingto do to execute thestrategy.
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Goal:What success looks like,what we’re going to do.
ROI CYCLE
InvestReturn
Strategy:Main ways we’re going to achieve the goal.
Action:Activities we’re goingto do to execute thestrategy.
Measure:Intermediate and finalmetrics
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Campaign Charter
• By (actions), we will (strategy) causing us to (goal).
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A Few Closing Tips
• Focus on trends not absolutes
• Benchmark immediately
• Use excel if necessary
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ROI
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Panel Discussion
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