Presented during Social Media Week this September, Ronnie Brown and Carlos Menezes from Quirk London investigate the challenges (and solutions) that surround measuring social media and showing ROI.
10. Selling social to your boss
1. Solve a business issue
2. Use data he understands
3. Good and bad examples
4. Benefits not features
5. Be realistic / concentrate on now
6. Manage risk
7. Appeal to his ego
11. The biggest need in social media or analytics isn’t for
us to be better analysts, technical specialists or
social media managers.
Rather, we need to be better salespeople and
communicators.
Remember – you own your data and insights. Those
are your products.
13. Bridging the “assumption” gap
1. Everything we do is based on assumptions.
2. But we are very bad at doing two things:
• Stating our assumptions
• Testing & validating them
17. Ask three fundamental questions:
1. Why does this exist?
2. What do I want people to do?
3. How do we know they are doing that?
18. Business Objectives
Channel Objectives
Campaign Objectives
Benchmark
KPIs
Targets
19. Increase market penetration by 10% by Feb 2013
Increase reach of 16-24 males by 20% by Feb 2013
Build a loyal community of 16-24 male brand advocates on
Facebook by Feb 2013
Competitor likes between 20-25k
25k page likes
Current likes stands at 18k
7.5% engagement rate
6% engagement rate is good
20. Remember – there’s one more objective that we
should have from Social Media: learning.
Learning both about our audience as well as our
own endeavours. How many of us set those as
objectives and measure the value?
22. Comparisons / Case Studies
1. Create your own over time
2. Share
3. Here are some that might help:
• http://www.iabuk.net/resources/case-studies
• http://www.simplyzesty.com/social-media/50-social-media-case-studies-worth-bookmarking/
• http://socialmediatoday.com/igiedrius/268023/fantabulous-lists-social-media-case-studies
• http://thenextweb.com/socialmedia/2011/07/16/the-roi-of-social-media-10-case-studies/
4. Other media?
24. Getting reporting right
1. Be specific
2. Comparisons
3. Insight & next steps not commentary
4. Tools & shortcomings
5. Overlay
25. • Communication is key
• Are you using common reporting templates?
• Are you talking in a currency that everyone
understands?
• Are you trying to measure revenue? What about
profit, cost savings and additional value?
• Are you being clear with your assumptions?
26. Your own challenges
From your responses, there were three main
challenges that arose:
• We use different tools; how do we integrate our
reporting?
• How do we achieve reliable measures for sentiment?
• How do we prove value to the business?
34. Rather than technical or mathematical
in nature, our biggest challenges in the
field of measurement are cultural and
attitudinal.
35. “To condense fact from the vapor of nuance”
“…the human mind can absorb and process an incredible
amount of information - if it comes in the right format. The
right interface. If you put the right face on it.”
Neal Stephenson