Social Media Planning & Measurement: Proving the Value

1. Social Media Planning & Measurement: Proving (or not) the Value of Social Media Beth Harte Community Manager, MarketingProfs @bethharte

2. Why Measurement is Important

3. The silver bullet myth Image source: realestatedementia.com/

4. Are you ready for hard work? Image source: http://imagecache2.allposters.com/images/JAG/03-PS35-6.jpg

5. Politics will always exist Image source: http://www.cartoonstock.com/newscartoons/cartoonists/tcr/lowres/tcrn92l.jpg

6. Tactics without a plan... Image source: clarinet-now.com

7. Don’t think you need a plan? Image Source: www.bulldogblog.net/articles/wp-content/uploads/2009/02/money.jpg

8. With a plan... Image source: clarinet-now.com

9. How to write a measurable plan

10. The Plan: • Goal • Measurable Objectives • Strategy • Tactics

11. What is a goal? • What do you hope to gain by engaging in social media? • Does your goal fit into the overall corporate goal? How to write a goal: • Toincreasesales • To decrease customer service expenditures How not to write a goal: • To increase sales AND to increase customer engagement Image source: getentrepreneurial.com

12. Types of objectives • Output: Physical products • Blog post, news release, e-mail, etc. • Outtake: What a target audience takes away • Messages, perceptions, understandings • Outcome: Quantifiable changes in attitudes, behaviors, or opinions • Sales, change in the number of downloads, requests, responses

13. Writing measurable objectives To be measurable, objectives MUSTinclude: • A specific desire, communication or behavioral effect; • A designated target audience among whom the effect is to be achieved; • The expected level of attainment; and • The timeframe in which those attainments are to occur.

14. Measurable objectives • Output: To create a Facebook fan page and have 15% of online public #2 joinwithin 6 months. • Outtake: To increase positive mentions that include key message in key industry blogs by 15%within six months. • Outcome: To increase sales of Product Xby 20%within 3 months.

15. How not to write an objective • To increase sales • To decrease customer service expenditures • To increase sales and to increase customer engagement • To decrease customer service expenditures and to increase customer satisfaction

16. Strategy • What is the approach to achieving objectives and reaching the goal? • Example: Establish a Facebook Fan Page to keep target audiences connected. • Set up a Ning community to support customers of Product X. Image source: getentrepreneurial.com

17. Tactics • What activities will be conducted to carryout specific objectives? • What tools will be used? • Example: • Set up the Facebook account • Invite target audience via an e-mail Image source: http://francisanderson.files.wordpress.com

18. A Sample Plan Outline • Goal • Objective 1 (Outcome objective) • Strategy 1 • Tactic 1 • Tactic 2 • Objective 2 (Output objective) • Strategy 1 • Tactic 1 • Strategy 2 • Tactic 1 • Tactic 2

19. Sample Measurable Plan • Goal: To lose weight • Outcome Objective: I want to lose 10 pounds by September 15th • Strategy 1: I will go to the gym 5 times a week • Tactic 1: Elliptical machine • Tactic 2: Weight training • Strategy 2: I will watch what I eat • Tactic 1: Weight Watchers • Tactic 2: Journal • Measurement: I lost 8 pounds by September 15th (Objective not met) Image source: http://reviewsofdietprograms.com/photos/scale.jpg

20. Sample Measurable Plan • Goal: To increase sales • Outcome Objective: To increase sales of Product X by 20%within 3 months • Strategy 1: To use Facebook to engage customers of product X • Tactic 1: Create a Facebook Fan Page • Tactic 2: Create Facebook Ads • Strategy 2: To use Twitter to engagecustomers of product X • Tactic 1: Conversational Tweets • Tactic 2: Tweets with discount codes • Measurement: An increase of sales in Product X of 25% within 6 months (Objective not met) Image source: http://www.salesmotivation.net/img/salesrun.jpg

21. Plans need to be flexible Image Source: Flickr, ralphventon

22. What to measure when it comes to social media

23. Typical Measurement & Value Image sources: harperstudio.typepad.com, tiphut.wordpress.com, bp.blogspot.com, publichealth.columbus.gov, bmwblog.com, conversationmarketing.com

24. Measurement Today

25. Traditional Marketing Funnel

26. Social Network Interference

27. New Marketing Funnel

28. SM Measurement of Engagement Image sources: digitalstrategy.govt.nz, orionwell.files.wordpress.com, itqb.unl.pt, iStock, gognis.net

29. What to measure... • Friends, Followers, Fans • Comments/Subscribers • Tweets/Retweets • URL shortener stats • Increased web traffic • Click-thrus • Net Promoter Score • Influence • Sentiment • Brand mentions • Share of conversation Image source: www.flickr.com/photos/joshrussell/580372830

30. Measurement Best Practices • Benchmarking • Objectives • Return on Expenditures • Return on Investment BORR-ing...but necessary! Image source: www.usm.edu/pr/releases/2006/may/cook.htm

31. Benchmarking Where did we start? Plan #1: 15 lbs. overweight Plan #2: $50,000 in sales Where did we end? Plan #1: 7 lbs. overweight (lost 8 lbs) Plan #2: $62,500 in sales (25% increase) Image Sources: http://www.defenselink.mil/ & http://www.sweatyguineapig.com

32. Objectives • Plan #1: I want to lose 10 pounds by September 15th • Results: 8 pounds lost by September 15th • Objective not met by 7 pounds • Plan #2: To increase sales of Product X by 20% within 3 months • Results: Sales of Product X increased by 25% in six months • Objective not met by 3 months

33. ROE – Plan #1 • Measuring Tactical Expenditures: • Gym cost • $50/month (1 month) • Weight Watchers cost • $400/month (1 month) • Journal cost • $5.00 • New sneakers cost • $80.00 • New gym clothes cost • $100.00 TOTAL: $635.00/8 lbs = $79.38 per pound

34. ROE – Plan #2 • Measuring Tactical Expenditures: • Facebook • Free • Facebook Ads • $500/month (3 months = $1,500) • Employee’s Facebook Time • $40/hour ($40/hr * 10 hrs/wk * 12 weeks = $4,800 ) • Twitter • Free • Employee’s Twitter Time • $40/hour ($40/hr * 10 hrs/wk * 12 weeks = $4,800 ) TOTAL: $11,100/5 sales = $2,220 per sale

35. ROI – What’s the R? Image sources: http://www.mywasher.net & http://mymoneymakingexperiment.commoney-blogging.gif

36. ROI – What’s the I? Image sources: blogs.discovermagazine.com, www.ecu.edu, www.clydepumps.com/overview-2

37. ROI – Plan #2 Expenditures Sales $12,500 - $11,100 $11,100 ROI = 13% Gain from Investment – Cost of Investment Cost of Investment And is always expressed in a percentage!

38. Measurement is a puzzle Image source: www.askmario.com/backtalk/backtalk_puzzle.php

39. Where tools can help and where they can’t

40. Tools to help measure

41. Tools to help measure Image Sources: mentalfloss.cachefly.net, www.orthonurse.org, i.ehow.com/images, www.smbmarketingguide.com/

42. Who needs to be involved & what management expects

43. Who needs to be involved • C-Suite (CMO) • Finance • Marketing Management (VP) • Marketing Directors/Managers • Support Staff • Vendors

44. Speak Management’s Language • Metrics that management wants to see: • An increase in sales of $12,500 as benchmarked against last quarter • Objective was not met by 3 months • Each sale was $2,500 at an expense of $2,220 • Social Media ROI was 13%

45. Get Management Approval • Present your analysis • What did you hear? What was the sentiment? What is the competition doing? • Share your measurable plan to address findings • Provide detailed information • Budget • Required resources, time, vendors, etc. • Demonstrate how you will provide an ROI

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47. Q A &