Analyzing results and producing ROI
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This document summarizes a webinar on analyzing results from social media efforts and producing a return on investment. The webinar covered tracking analytics from various tools like Google Analytics and Radian6, evaluating whether goals were met, and determining what changes need to be made based on results. It also discussed defining the "return" in ROI and tying costs like employee time to measurable results to assess investment returns from social media activities.
![Q & A Questions? For more information or to just chat feel free to contact me directly at [email_address] Thank you for attending and participating and I look forward to working with all of you again soon.](https://image.slidesharecdn.com/tsmsmwebinarlastpptpptx-12677047364226-phpapp02/85/Analyzing-results-and-producing-ROI-16-320.jpg)
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Analyzing results and producing ROI
- 1. Welcome to Analyzing Results and Producing ROI Presented by The Sales Matrix, Inc. March 3, 2010 The webinar will begin shortly
- 2. Analyzing Results and Producing ROI Format of the webinar Smaller group allows for more interaction so please feel free to ‘raise your hand’ or ‘instant message’ me in the participants panel so that I can un-mute and call on you. If you are in a noisy area please put your phone on mute by pressing *6.
- 3. Agenda Quick review from Part 2 – “Implementation and Measurement of Your Social Media Plan” Knowing when you’re ready to implement your plan Tracking analytics – The tools and the strategy Based on your results, are you hitting your goals? How to convert analytics to produce Return on Investment
- 4. Part 2 - Implementing a Social Media Plan for Your Business: Have you thought about your company’s plan yet? Do you know what are you looking to accomplish? What are you currently measuring/tracking? Don’t fall into the measurement trap Do you have the key players already in place? What do you envision being your greatest challenge?
- 5. Social Media CMO Expectations MarketingProfs recently published a study by Bazaarvoice and the CMO Club that revealed the true expectation of chief marketing officers. The bottom line: They want measurable results from social media.
- 6. Who is Measuring ROI?
- 7. Analyzing Results and Producing ROI What are we really trying to measure? Return on Engagement: How much time have you spent conversing online and what direct and indirect results have occurred? Return on Participation: The metric tied to measuring and valuing the time spent participating in social media through conversations; can be challenging to measure. Return on Involvement: Similar to participation, exploring touch points. What were the experiences at each stage? Did they lead to recent or future sales? Return on Attention: Everyone is fighting not only to get attention but keep it over a sustainable period of time. These metrics may take longer to measure. Return on Trust: Measuring customer loyalty and the likelihood for referrals. This is one of the real measuring sticks for early adopters of ROI tracking. Developing advocates will be demonstrated through their referring frequency.
- 8. *Intelligence Gathering This is where you gather the numbers that will let you know how your campaign is doing and where the dollars are. There are a lot of tools that will provide pretty dashboards but few that provide useful data. Here are some of the tools we recommend: Google Analytics: Google Analytics is the analytics system in most companies. You can track visits, page views, bounce rates, etc. Be sure, if sales are a key metric, that the e-commerce portion is activated. Coremetrics: Along with their benchmarking services Coremetrics offers an analytics suite whose main differentiator rests in what they call their LIVE (Lifetime Individual Visitor Experience) Profiles. This is essentially an analytics expansion on the concept of customer types. Fireclick: Owned by Digital River, is a streamlined version of many of the tools available for free through Google Analytics but in an easier to customize interface. The main advantage here is their Advanced Marketing Suite which ties you into other vendors and components in the Digital River portfolio. Radian6: Radian6 is a buzz monitoring software that allows you to monitor certain keyword sets and capture data around them. The data includes such things sentiment, engagement, reach, and inbound links. It also allows you to port that data to your CRM. * As discussed in Sexy Numbers: Measuring ROI in Social Media Campaigns March 1st, 2010 by Angel Djambazov
- 10. Coremetrics
- 11. Fireclick
- 12. Radian6
- 13. Questions to be Asked What were your specific goals as they relate to your social media activities? Did you reach each goal? Why or why not? Did you learn something unexpected? What changes are you making to alter your results? Do you know what changes should be made? Was your time and money well-spent using social media?
- 14. True Test of Social Media ROI As stated by Brian Solis “ Defining the “R” in ROI is where we need to focus, as it relates to our business goals and performance indicators specifically. Even though much of social media is free, we do know the cost of engagement as it relates to employees, time, equipment, and opportunity cost (what they’re not focusing on or accomplishing while engaging in social media). Tying those costs to the results will reveal a formula for assessing the “I” as investment.” Brian Solis is a principal at new media agency FutureWorks
- 15. Coming soon… A two-part series on sourcing and recruiting. Wednesday, April 7: Recruiting and Retention Overview & Sourcing Strategies Whether you’re ready to start staffing up now – or won’t be until later in the year – you won’t want to miss this two-part presentation on strategic staffing.
- 16. Q & A Questions? For more information or to just chat feel free to contact me directly at [email_address] Thank you for attending and participating and I look forward to working with all of you again soon.
- 17. Analyzing Results and Producing ROI Presented by The Sales Matrix, Inc. Thank you for attending.