Page 1 Social Media in Business Session 3 Agenda Brief Demo: Highlighter.com by Josh Mullineaux...

Social Media in Business

Session 3 Agenda

Brief Demo: Highlighter.com by Josh Mullineaux

Social Media Analytics and ROI

Key Definitions: Strategy & Tactics; Goals & Objectives

Establishing the business value of social media

Student Presentations: Paid Monitoring Tools

Bill Higbee: Attensity360

Jane Klausen: Visible Technologies

Sue Thim:

Dennis Grubbs: Radian6 (postponed to next week)

mala.sarat.chandra@gmail.com

Key Definitions

Strategy vs. Tactics Strategy provides a framework of actions needed to achieve desired goals and objectives. Tactics are actions that lead to the execution of a strategy. Each tactic (action) has a purpose, schedule and measurable result.

Goals vs. Objectives Goals are broad; objectives are narrow. Goals are general intentions; objectives are precise. Goals are intangible; objectives are tangible. Goals are abstract; objectives are concrete. Goals can't be validated as is; objectives can be validated

Goals Objectives

Examples

StrategyUse Facebook to increase

number of net new customers

Tactics Give discount coupons on their first

purchase to people who share the offer with their network

Give discount coupons to everyone on their first purchase

Increase the number of new paying customers

Achieve 100 net new paying customers in Q1

Improve the company’s overall brand image

Shift the positive:negative sentiment ratio across the top 4 social media channels from the current 1:4 to 1:1 in 12 months across those same channels

Increase number of followers

Acquire 5000 followers a month on Twitter

Aligning Social Media Goals with Business goals

Business Goal

Social Media Goal Social Media Objective

Increase Revenue

Convert followers into customers.

Increase repeat transactions with targeted promotions.

Acquire 500 new transacting customers on Facebook in Q1.

Increase buy rate by 10% in 6 months.

Social Media Strategy Social Media Tactics

Grow the number of Friends, Fans, Followers.

Run multi-channel competition; use votes to determine winners.

Key Performance Indicators:Metrics stated in Business Terms

Business Goal Social Media Goal Social Media Objective

Increase Revenue

Increase sales of Fido’s Organic Beef Chow (OBC)

Sell an additional 20,000 cases of Fido’s OBC in WA in Q2

Key Performance Indicator (KPI)

Social Media Metric

Sales of Fido’s OBC in WA in Q3

Positive mentions of Fido’s OBC leading into Q3. Net New Likes of Fido’s OBC content on Facebook Fan page from WA.Net new click-throughs of links leading to Fido’s web content from WA.Number of coupons and discount codes redeemed in WA in Q3.

Secondary Performance Indicator (SPI)

Social Media Metric

Sales of Fido’s OBC outside WA in Q3

Net new Likes of Fido’s OBC content on Facebook page outside WA.Net new click-throughs of links leading to Fido’s OBC web content (outside WA)Net change in online sentiment for Fido’s OBC in Q3 outside WA.

Dag’s slides go here

Social Media Business Cycle

Page 1 Social Media in Business Session 3 Agenda Brief Demo: Highlighter.com by Josh Mullineaux...

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