Social Media ROI vs ROI

Sudarshan BanerjeeMediaPulse 2008

IS AN UMBRELLA TERM THAT DEFINES THE VARIOUS ACTIVITIES THAT INTEGRATE TECHNOLOGY, SOCIAL INTERACTION, AND THE CONSTRUCTION OF WORDS, PICTURES, VIDEOS AND AUDIO.http://www.wikipedia.org

DUH!

Like most things, had a modest beginning before

being ‘tipped’

The Rate of Interest is unmistakeable, right?

A question that’s on everyone’s mind

in Social Media

Before we get to ROI…

I have another question.

Can you afford to ignore it

Some fairly important Marketing campaigns have

used it extensively

Obama vs. McCain - Social Media Usage Stats

Facebook 567,000 18,700FB Supporters 2,444,384 627,459MySpace 844,781 219,463Twitter 115,623 4911Youtube 358,000 191,000Flickr 73,07615,168Google Search 56,200,000

42,800,000Google Pages 1,820,000 30,700Yahoo Pages 643,416 513,665

What could possibly happen

if you don’t

If you are a brand, let’s also consider that

Can’t really blame them

WHILE ONLYOF PEOPLE TRUST ADVERTISEMENTS

OF PEOPLE TRUST THE RECOMMENDATIONS OF OTHER CONSUMERS NIELSEN “TRUST IN ADVERTISING” REPORT, OCTOBER 2007

To earn it back – Do consider Social Media

All this is fine

What about the ROI

Social Media - is more like a billboard…- Often Necessary- Not immediately measurable

What’s your social media briefWhat are we doing?Define the scope of the project. Is it part of a promotion? Part of a campaign? What are we being asked to create?

Why are we doing it?Is this a stand along effort, or part of an overall communications strategy that includes traditional advertising?

Who is the target market?Define the person. Give as much background on the bulls-eye candidate.

What media do they currently consume?Supply a general list of media they consume, i.e. instant messaging, texting, TV, radio, podcasts, blogs, social networks, etc.

What is the objective?What do we want the target to do? At the end of this project, what is the definition of success? How will we measure the target’s actions? Define the goals in terms of results.

When and how will it end? Social media campaigns might have to stop. How will you stop it?

You can measure ROI, if you know what you want…

Three types of results in interactive measurement:

1. outputs (impressions, share of voice, tone, etc.)2. outcomes (attitude shift, behavior change, expanding reach)3. business results. All of Advertising hasn’t found a perfect co-relation to this yet

• Since it’s launch in March of 2008, results:

• 3 million unique visitors• 60,000 ideas submitted• 100,000s of comments• 460,000 votes• 2,500 moderator

comments

Hold out your hand and your customers will reciprocate

IN MINDSET

6 tips for

Think beyond products

Open your doors to your customers

Join the conversation

Share things with them

Make mistakes; Admit them

Respond ! Respond ! Respond !