Tac Anderson, Digital Consulting Director for Waggener Edstrom's Studio D, and Neil Beam, Senior Manager of Channel Strategy at AT&T, share their insights on social media measurement and ROI at SMBSeattle breakfast, Feb 2010. Accompanying livestream video here: http://www.ustream.tv/channel/smbseattle
1. Social Media Measurement and ROI: Making the Connection from Monitoring to the Bottom Line @tacanderson @neilbeam @tacanderson @neilbeam February 18, 2010
2. Shout Outs… Tableau… Our SMB handlers… esp.Colleen, Colin, Warren, Heidi Wine Gal… Job Seeker… My ride here today! All of you for joining us here in person and online!
4. What are we going to tell you… ROI is a Monetary Metrics Attribution is a KEY most everyone is missing Timeframe is another key Scope of ROI is different for everyone
5. How are we going to tell you… Stories Ben’s Story ATTCustomerCare Format: One of us shares, the other adds color… hopefully this works
9. Weak ROI ties, but a start Some considerations 3700 message views for 1 post Net Promoter Attribution (20 pts in 14 months) Brand Reputation SEO Capturing the unexpected Taking it a step further… Benchmark before and after the program Sentiment SEO Mentions Establish values to human activity: i.e. $0.02 per view; $2 for a review; $1 for a Kudo/net Up-Vote $10 for a “Solution”
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12. Strong(er) Impact Metrics Some considerations 1000 tweets per month * 15 staff cSat Neg. trends are down Monitoring to address comments off AT&T Sites Taking it a step further… Map Call Drivers to Social Tactics Publish Score Card with ROI
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14. Social Sales Shorter Sales Cycles Increase Renewal Rate Increased Up sell Direct ROI
15. Where can you take this… Sales: Social Ads Control group vs.: Conversions per 1K impressions (CPTI) Cost per Conversion Customer Service: Call driver attribution Formula of Importance {AHT, FCR, Number of calls} Match Social tactics to the key call drivers Example: Brand Awareness – Arbor Day – Going Green Social Monitoring/Listening (before and after): Sentiment Mentions Map the social graph and understand expanded relevant reach and the interaction levels that occur w/in the graph
16. What did we try to tell you… ROI is a Monetary Metrics Most organizations like to report “impact” metrics and suggest these are ROI Attribution is a KEY most everyone is missing Benchmark, set baselines and watch movement Survey for attribution, root cause of a behavior Design for ROI, establish a control group Timeframe is key Sales investments & returns tend to be faster, but less sustainable Service tends to take longer, but trends towards sustainability Scope of ROI is different for everyone Project Scope – most common Utility Scope – most comprehensive Person Scope – the future (that’s why everyone talks about those influencers)
17. Resources WOMMA Metrics Guidebook: http://issuu.com/womma/docs/metricsguidebook (available for viewing at this link until 3/5) – or ask Neil to send you a copy SMAC Metrics: http://wiki.smac.org