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SOCIAL MEDIA IS DEAD LONG LIVE SOCIAL MEDIA ROI Stefanos Karagos | XPLAIN | March 2011
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DO U HAVE A FB PAGE?
22-Mar-11 Social media is dead. long live social media roi
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A TWITTER PAGE?
22-Mar-11 Social media is dead. long live social media roi
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A SOCIAL MEDIA TEAM?
22-Mar-11 Social media is dead. long live social media roi
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SO WHAT?
22-Mar-11 Social media is dead. long live social media roi
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IT’S DEJA VU
22-Mar-11 Social media is dead. long live social media roi
Our compe>tors have a FB Page
Let’s go Social too
Has Legal seen this?
Is this Working?
Let’s put our TVCs on YouTube!
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THE LONG STORY / SHORT
22-Mar-11 Social media is dead. long live social media roi
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THE LONG STORY / SHORT
22-Mar-11 Social media is dead. long live social media roi
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10:00 AM @ OFFICE THE SCENE / BOSS IS ENTERING THE OFFICE BOSS / SEES HIS SECRETARY SURFING IN FACEBOOK
22-Mar-11 Social media is dead. long live social media roi
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THE DIALOG
22-Mar-11 Social media is dead. long live social media roi
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BOSS / HOW MANY FRIENDS DO YOU HAVE?
22-Mar-11 Social media is dead. long live social media roi
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BOSS / HOW MANY FRIENDS DO YOU HAVE? SECRETARY / 4.999 MY BOSS
22-Mar-11 Social media is dead. long live social media roi
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BOSS / HOW MANY FRIENDS DO YOU HAVE? SECRETARY / 4.999 MY BOOS BOSS / WOWW! OUR COMPETITORS HAVE ONLY 999! BOSS / HOW LONG DID THIS TAKE?
22-Mar-11 Social media is dead. long live social media roi
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BOSS / HOW MANY FRIENDS DO YOU HAVE? SECRETARY / 4.999 MY BOOS BOSS / WOWW! OUR COMPETITORS HAVE ONLY 999! BOSS / HOW LONG DID THIS TAKE? SECRETARY / ONLY ONE MONTH MY BOSS!
22-Mar-11 Social media is dead. long live social media roi
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BOSS / HOW MANY FRIENDS DO YOU HAVE? SECRETARY / 4.999 MY BOOS BOSS / WOWW! OUR COMPETITORS HAVE ONLY 999! BOSS / HOW LONG DID THIS TAKE? SECRETARY / ONLY ONE MONTH MY BOSS! BOSS / CAN YOU CREATE AND RUN OUR CO’S PAGE?
22-Mar-11 Social media is dead. long live social media roi
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BOSS / HOW MANY FRIENDS DO YOU HAVE? SECRETARY / 4.999 MY BOOS BOSS / WOWW! OUR COMPETITORS HAVE ONLY 999! BOSS / HOW LONG DID THIS TAKE? SECRETARY / ONLY ONE MONTH MY BOSS! BOSS / CAN YOU CREATE AND RUN OUR CO’S PAGE? SECRETARY / YES MY BOSS! GIVE ME 5 MINUTES.
22-Mar-11 Social media is dead. long live social media roi
the time it takes !to start your FB Page!
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BUT HE HADN’T SEEN HER PERSONAL PAGE..
22-Mar-11 Social media is dead. long live social media roi
Her sexy photos from her latest vaca2ons
97% “hungry” men 18-‐35
content
audience
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THE RESULT
22-Mar-11 Social media is dead. long live social media roi
a+er 6 months
xplain.co 22-Mar-11 Social media is dead. long live social media roi
555 FANS/LIKERS
Bla, Bla, Bla, Bla Bla, Bla, Bla
Who Knows? Who Cares?
content audience
xplain.co 22-Mar-11 Social media is dead. long live social media roi
facebook? my ass
NEXT TIME MARKETING MANAGER ASKED HIS BOSS TO INVEST €€€€ ON FACEBOOK MARKETING
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INVEST?
22-Mar-11 Social media is dead. long live social media roi
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INVESTMENT MEANS
22-Mar-11 Social media is dead. long live social media roi
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€$¥ 22-Mar-11 Social media is dead. long live social media roi
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ROI 22-Mar-11 Social media is dead. long live social media roi
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WHAT DOES IT MEAN ROI?
22-Mar-11 Social media is dead. long live social media roi
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RETURN ON INVESTMENT
22-Mar-11 Social media is dead. long live social media roi
ROI = [GAIN FROM INVESTMENT – COST OF INVESTMENT] /COST OF INVESTMENT
the formula!
it’s recession >me
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THE BASIC RULES OF ROI
22-Mar-11 Social media is dead. long live social media roi
xplain.co 22-Mar-11 Social media is dead. long live social media roi
RULE#1 ROI IS A BUSINESS METRIC, NOT A MEDIA METRIC. RULE #2 ROI IS 100% MEDIA-AGNOSTIC. RULE #3 THE VALUES USED IN THE ROI EQUATION ARE NONVARIABLE.
xplain.co 22-Mar-11 Social media is dead. long live social media roi
RULE#4 ROI STANDS FOR RETURN ON INVESTMENT. PERIOD. RULE #5 EVERY RESOURCE YOU ASSIGN TO A PROJECT HAS A VALUE. RULE #6 ROI CAN ONLY CALCULATED AFTER THE INVESTMENT HAS YIELD A RETURN.
xplain.co 22-Mar-11 Social media is dead. long live social media roi
ROI IS BUSINESS MEASUREMENT, NOT ALCHEMY. IF YOUR EQUATION SHOWS A COST VALUE IN EUROS AND A GAIN VALUE EXPRESSED IN FACEBOOK LIKERS, YOU’RE IN TROUBLE.
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SOCIAL MEDIA IS NOT FREE
22-Mar-11 Social media is dead. long live social media roi
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EVERYTHING YOU PUT INTO A SOCIAL MEDIA PROGRAM HAS A COST ATTACHED TO IT
22-Mar-11 Social media is dead. long live social media roi
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INCLUDING SOCIAL MEDIA TO THE P&L
22-Mar-11 Social media is dead. long live social media roi
WTF?
xplain.co 22-Mar-11 Social media is dead. long live social media roi
THE INVESTMENT-RETURN RELATIONSHIP
INVESTMENT ACTION REACTION NONFINANCIAL IMPACT
FINANCIAL IMPACT
€€€€ €€€€
THIS IS VERY IMPORTANT, BUT ROI DOESN’T LIVE HERE.
xplain.co 22-Mar-11 Social media is dead. long live social media roi
INVESTMENT ACTION REACTION NONFINANCIAL IMPACT
FINANCIAL IMPACT
€€€€ €€€€
WELCOME TO ROI WORLD
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DARE TO CONNECT THEM?
22-Mar-11 Social media is dead. long live social media roi
What is the unit of measure [the currency in other words] of inspira>on? How about Innova>on? Rela>onships, even?
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THE MAGIC WORD HERE IS:
22-Mar-11 Social media is dead. long live social media roi
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CORRELATION
22-Mar-11 Social media is dead. long live social media roi
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IS THERE AN EASY WAY?
22-Mar-11 Social media is dead. long live social media roi
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YES 22-Mar-11 Social media is dead. long live social media roi
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FIRST THINGS FIRST
22-Mar-11 Social media is dead. long live social media roi
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#1 ESTABLISH A BASELINE
22-Mar-11 Social media is dead. long live social media roi
Trend: 10% Growth
Start of Ac>vity Start of SM Program Start of Campaign Start of Measurement
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#2 CREATE ACTIVITY TIMELINE
22-Mar-11 Social media is dead. long live social media roi
1 2 3 4 5 6 7 8 9 10 11 12
1st Month 2nd Month ...
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#3 MONITOR THE VOLUME OF MENTIONS
22-Mar-11 Social media is dead. long live social media roi
1 2 3 4 5 6 7 8 9 10 11 12
Months
Nega>ve Men>ons
Posi>ve Men>ons
Overall Men
>ons
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#4 MEASURE TRANSACTIONAL FORERUNNERS
22-Mar-11 Social media is dead. long live social media roi
WHAT YOU CAN MEASURE
WHAT YOU SHOULD MEASURE
MEASURE HERE
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#5 LOOK AT TRANSACTIONAL DATA
22-Mar-11 Social media is dead. long live social media roi
Sales Revenue
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#5 LOOK AT TRANSACTIONAL DATA
22-Mar-11 Social media is dead. long live social media roi
Transac>ng Customers
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#6 OVERLAY ALL YOUR DATA [STEPS 1-5] ONTO A SINGLE TIMELINE
22-Mar-11 Social media is dead. long live social media roi
0 20 40 60 80
100 120 140 160
Jan Apr Jul Oct Jan
ACTIVITIES
0 20 40 60 80
100 120 140 160
Jan Apr Jul Oct Jan SO
CIAL
DAT
A
0 20 40 60 80
100 120 140 160
Jan Apr Jul Oct Jan
TRAN
SACT
IONS
0 20 40 60 80
100 120 140 160
Jan Apr Jul Oct Jan
WEB
DAT
A
0 20 40 60 80
100 120 140 160
Jan Apr Jul Oct Jan LOYA
LTY METRICS
AND MORE...
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#7 LOOK FOR PATTERNS
22-Mar-11 Social media is dead. long live social media roi
0
20
40
60
80
100
120
140
160
Jan Apr Jul Oct Jan
CORR
ELAT
IONS
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#8 PROVE & DISPROVE RELATIONSHIPS
22-Mar-11 Social media is dead. long live social media roi
0
20
40
60
80
100
120
140
160
Jan Apr Jul Oct Jan
CORR
ELAT
IONS
Why? Why Not?
How this group was touched by SM or WoM?
xplain.co 22-Mar-11 Social media is dead. long live social media roi
I NEED A PROVE
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GENERAL MILLS
22-Mar-11 Social media is dead. long live social media roi
DAVID WITT Senior Manager, Brand Public Rela2ons, General Mills
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WHAT WILL HAPPEN IF YOU DON’T NOT CARE ABOUT ROI?
22-Mar-11 Social media is dead. long live social media roi
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RETURN ON IGNORANCE
22-Mar-11 Social media is dead. long live social media roi
it’s advocates >me
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IGNORANCE : BRAND’S DEATH
22-Mar-11 Social media is dead. long live social media roi
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THANK YOU!
22-Mar-11 Social media is dead. long live social media roi
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LEARN MORE
22-Mar-11 Social media is dead. long live social media roi
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CONTACT US IF YOU CARE ABOUT YOUR SOCIAL MEDIA ROI +30 210 6395234
Thanks for the inspira>on: James Belasco, Oliver Blanchard, Alexander Osterwalder
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