- 1. Social Media ROI Process, Challenges and Requirements Jacob
Morgan Chess Media Group November 18, 2009
2. Risk of Ignoring Risk of Ignoring 3. Return on Influence 4.
What is ROI? Gain from Investment Cost of Investment Cost of
Investment ROI = Financial 5. Sales is Not ROI
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- Especially if it cost $4M to make the $3M
- You can have positive sales and negative ROI
- Have to take into account investment and return
6. Types of ROIMake money Save money
- Save on time spent, which translates to dollars
- Save on technology or business costs
- Save on product development costs
- Increase number of customers
- Increase how much people spend
- Increase how often people spend
7. The ROI Number
- Meaningless without context
- Must understand variables that affect ROI
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- Presence on social networks
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- Where should you be putting your money
8. What is Impact?
Non-Financial 9. Lord Kelvin
- W hen you can measure what you are speaking about, and express
it in numbers, you know something about it; but when you cannot
measure it, when you cannot express it in numbers, your knowledge
is of a meager and unsatisfactory kind: it may be the beginning of
knowledge, but you have scarcely, in your thoughts, advanced to the
state of science."
10. Take a Deep Breath Relax 11. Build a Foundation Stop trying
to build this Without starting with this Or you get this 12.
Breaking and Building
- Have to break things down in order to build them up again
properly
- New platform, new game, new way of doing things
- Dont justify lack of measurement with old marketing
methodologies
13. Short Term vs Long Term
- Scrambling to show results
- Campaign is over, launch another
- Only look at short term results
- ROI and measurement framework
- Results are clear across campaigns
- Can keep launching campaigns based off of measurement
- Look at short term and long term results
14. Measurement Foundation 15. The Social Business Process 16.
Business Challenges
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- Time frame, budget, capabilities
17. Technology Challenges
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- Social networks and over time
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- Managed by multiple parties
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- How do you get all the data and make analytics/data platforms
talk to each other?
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- Interpreting results from various data sources
18. Requirements for Enterprise
- Social media teamNOT1 person
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- $10k+ ongoing for monthly engagements
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- Integrating and aggregating data (one time)
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- $200k+ for comprehensive work
19. Thank You
- Blog:JMorganMarketing.com
- Website: ChessMediaGroup.com