10-Minute Lightening Round Slides from HighEdWeb New England's March 22, 2013 regional conference at Mount Holyoke College.

1. Quantify Your Social Media
Efforts to Measure ROI
Sarah McMaster
March 22, 2013

2. Strategy:
Creating the Path of Least Resistance
Social Media
Landing Page Visit
Inquiry (Lead)
Applicant (Conversion)
Enrollee (ROI)

3. Strategy:
Creating the Path of Least Resistance
Social Media
Engagement
Connection to Resources
More Engagement
Student Retention &
Success (ROI)

4. Measurement Tools & Tactics
• HootSuite, Tweetdeck, CrowdBooster, Klout
• Google Analytics
– Event Tracking, Goal Setting
• Facebook Insights
• Spreadsheets
• Online Forms
• Vanity URLs and Landing Pages

5. Key Metrics
• Social Media Amplification
• Social Media Applause Rate
• Conversion Rates
• Cost Per Inquiry
• Student Lifetime Value

6. Social Media Amplification
𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑆𝑕𝑎𝑟𝑒𝑠 (𝑟𝑒𝑡𝑤𝑒𝑒𝑡𝑠, 𝑠𝑕𝑎𝑟𝑒𝑠, 𝑟𝑒𝑝𝑜𝑠𝑡𝑠)
𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑃𝑜𝑠𝑡𝑠, 𝑇𝑤𝑒𝑒𝑡𝑠
If you have 70 shares
for every 300 posts,
your amplification is 23%.

7. Social Media Applause Rate
𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝐹𝑎𝑣𝑜𝑟𝑖𝑡𝑒𝑠, 𝐿𝑖𝑘𝑒𝑠
𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑃𝑜𝑠𝑡𝑠
If, for every 30 posts, 5 are liked,
you have a 16% applause rate

8. Social Media Conversion Rate
𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝐴𝑢𝑑𝑖𝑒𝑛𝑐𝑒 𝐶𝑜𝑚𝑚𝑒𝑛𝑡𝑠 𝑜𝑟 𝑅𝑒𝑝𝑙𝑖𝑒𝑠
𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑃𝑜𝑠𝑡𝑠
Engagement
If, for every 70 posts,
you receive 15 comments,
you have a 21%
social media conversion rate

9. Social Media Conversion Rate 2
𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑆𝑜𝑐𝑖𝑎𝑙 𝑀𝑒𝑑𝑖𝑎 𝐿𝑖𝑛𝑘 𝐶𝑙𝑖𝑐𝑘𝑠
𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑆𝑜𝑐𝑖𝑎𝑙 𝑀𝑒𝑑𝑖𝑎 𝐿𝑖𝑛𝑘 𝑉𝑖𝑒𝑤𝑠
If, for every 200 views, there are 5
clicks, you have a 2.5% conversion rate

10. Landing Page Conversion Rate
𝐶𝑎𝑙𝑙 𝑡𝑜 𝐴𝑐𝑡𝑖𝑜𝑛 𝐶𝑜𝑚𝑝𝑙𝑒𝑡𝑖𝑜𝑛𝑠
𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑃𝑎𝑔𝑒 𝑉𝑖𝑠𝑖𝑡𝑠
If, for every 150 visits, 7 calls to
action are completed, you have
a 4.6% conversion rate

11. Cost Per Inquiry
𝑃𝑒𝑟𝑠𝑜𝑛𝑛𝑒𝑙 + 𝑅𝑒𝑐𝑟𝑢𝑖𝑡𝑚𝑒𝑛𝑡 𝑂𝑣𝑒𝑟𝑕𝑒𝑎𝑑 + 𝑀𝑎𝑟𝑘𝑒𝑡𝑖𝑛𝑔 𝐴𝑐𝑡𝑖𝑣𝑖𝑡𝑦
𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝐼𝑛𝑞𝑢𝑖𝑟𝑖𝑒𝑠
Personnel = $30/hour x 15 hours
Recruitment Overhead= $170
Marketing Activity= $1,500 Facebook Contest
Number of Inquiries = 260
Cost of Inquiry = $8.15

12. Student Lifetime Value (SLV)
𝐶𝑜𝑠𝑡 𝑃𝑒𝑟 𝐶𝑟𝑒𝑑𝑖𝑡 𝐻𝑜𝑢𝑟 𝑥 𝐴𝑣𝑒𝑟𝑎𝑔𝑒 𝐶𝑜𝑢𝑟𝑠𝑒 𝐿𝑜𝑎𝑑
x
𝐴𝑣𝑒𝑟𝑎𝑔𝑒 𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑆𝑒𝑚𝑒𝑠𝑡𝑒𝑟𝑠
($215 x 14) x 4 =
$12,040 Student Lifetime Value (SLV)

13. Full Circle: ROI
“Our March 2013 Facebook contest
increased online engagement by 7%,
brought 3,027 visitors to our targeted
landing page, converted 9% into
admissions leads and resulted in 7 new
enrollments with a 400% ROI on the
initial investment, at a lower cost per
inquiry than our concurrent direct mail
campaign”.
-Fictional Marketing Superstar

14. Sarah McMaster
Director of New Media
Mount Wachusett Community College
smcmaster@mwcc.mass.edu
linkedin.com/in/sarahmcmaster/
@Sarah_Mc