ROI Of Social Media

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The ROI of Social Media

March 9, 2011



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What do you primarily use social media forpersonal, business, or both?



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What social media tools do you use?



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How would you rate your knowledge of social media?(one – highest, four – lowest)



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Do you think social media is an importanttrend for your business?



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Top 10 Most Visited Sites

• Google• Facebook• Yahoo!• YouTube• Amazon

• Wikipedia• Twitter• Blogger.com• eBay• Craigslist



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Facebook 3,774,716,112Twitter 183,876,953



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Youtube.com 1,238,702,433Linkedin.com 56,542,414



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55 Minutes a day on Facebook

65M Access Facebook on Mobile Phones



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94% of people have turned their backs on traditional advertising.



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90% of consumers trust product recommendations from personal acquaintances



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Marketing has changed more in the last 5 years than in the

previous 100 combined



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Age of Distraction



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• Is it over hyped?

• Will something replace it?

• Is it a big, fat waste of time?



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SM for Business Use

• SEO• Create Brand Awareness• Reputation Management Tool• Customer Service and Support• Recruitment• Learn About New Technologies and

Competitors• Lead Generation Tool



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Three stages of the Social Media ROI cycle

Setting up, running, and optimizing a social media campaign takes place in three stages:

1)Launch2)Management3)Optimization



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Stage One: Launch

Approach: ExecutionalFocus: Long-termObjective: Social Media PresenceResults: Negligible



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Stage Two: Management

Approach: TacticalFocus: Mid-termObjective: Customer engagementsResults: Increased traffic



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Stage Three: Optimization

Approach: StrategicFocus: Long-termObjective: Social Media ROIResults: Revenue growth



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Barriers to Results

• Takes TIME to get results

• Takes UP time & Resources

• Half-hearted attempts



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Effective Social Media

• Not easy

• Not quick

• Not cheap



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• Focus

• Grab Attention

• Engage

• Take Action



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12for12 Tweet-a-Thon

• $12k in 12 hours

• Combat child hunger in the US– Clear and achievable goal– Sense of urgency short deadline – Leverage existing networks – Easy to Donate– Clear Understanding of Where $$ Go – Donor Recognition



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How to define success?



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Top Social Media Success Metrics

Source: 2009 Business.com, Inc



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EngagementClicked, bought, downloaded,

retweeted, liked



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Social Media Strategy



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Social Media Strategy



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How to Measure ROI

• Make goals specific and measurable– Increase site traffic by 25% over 6 month– Decrease calls by 10% over 6 month



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Source: Beth Kanter, How Much Time Does it Take To Do Social Media?



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Listen



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Social Media

• Forums

• Blogs

• Microblogging

• Wikis

• Podcasts

• Photos

• Videos

• Ratings

• Reviews

• Social Networking



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80% Strategy20% Technology



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Summary

• Return on Investment– Become more strategic and focused– Set benchmarks– Tangible and Intangible goals

• Return on Conversation

• Cost NOT to Participate



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Summary

• Tangible (quantitative)– Increased sales by 25% within 6 months– Decrease calls to customer support by 10%

• Intangible (qualitative)– Word of mouth– Good comments



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Opportunities Galore

• Currently in early mode• Adopt what is successful• Another form of communication• Repurpose existing content to reach

audiences in new ways• Know that change is inevitable



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Action Items

• Listen– Review Stats– Google Links– Google Alerts

• Assess Current Strategy

• Focus / Be Creative / Experiment



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Q & A



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When the winds of change blow, some people build walls

and others build windmills

Education

ROI Of Social Media