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Page 1Social 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)
Page 2Social Media in Business
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
Page 3Social Media in Business
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
Page 4Social Media in Business
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.
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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.
