Measuring Social Media ROI - SMX Milan '13

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Ric Dragon @RicDragon Social Media ROI?

description

A presentation covering a landscape of social media value, for #SMX Milan 2013

Transcript of Measuring Social Media ROI - SMX Milan '13

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Ric Dragon @RicDragon

Social Media ROI?

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What's the ROI of Trust and what’s the ROI of Loyalty?

-Ted Rubin

“ “

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Every time I hear ‘social media ROI,’ a kitten dies.

-Scott Stratton “

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Would you want to know the ROI of your mother?”

-Gary Vaynerchuk

““

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What’s the ROI of putting on

your pants in the morning?

-Scott Monty, Ford Motor Co.

“ “

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THE MARKETECO-SYSTEM

CUSTOMER/BRAND ECO-SYSTEM

IN THE CUSTOMERS MIND

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ASSUMPTIONS

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1.Marketing Lift

2.Impact on Search Engine Optimization

3.Risk Mitigation

THE MARKET ECO-SYSTEM

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4.Transaction (the actual purchase or negotiation)

5.Repeat transactions (TLV)

6.Loyalty – resistance to change

7.Advocacy

Customer/Brand System

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8.Awareness

9.Recognition

10.Associations

11.Perceived Quality

12.Likeability

The Customer Mindspace

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a Force Multiplier

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Awareness Value = (Market Size) X (Awareness Change %) X (Purchase Intent %) X (Sales Conversion %) X (Unit Profits €)

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Lift• Could well-executed social media increase the

effectiveness of current advertising spend by 1% If so, what would that be worth?

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Frequency Hermann Ebbinghaus Forgetting Curve

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Value of Risk MitigationPotential Cost X Likelihood of Occurrence X Mitigation Benefits = value of mitigation

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Purpose& Vision

Create Indelible

Memories

Goal

Be center to more

storytelling in social media

Objectives

Publish excellent blog

content at least six times

/ month

Increase community by 50%

Increase engagement by 100%

Increase amplification by 50%

Metrics

# of blog posts / month

# of followers

# of interactions

# of shares

# of mentions

# of comments on blog

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1000

3000

Twitter Retweets

NOW

Target

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What’s theROI of

Social Media?GREAT

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Ric Dragon, [email protected]

Twitter: @ricdragon

Grazie Mille