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The Basics of Edutainment ROI

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The Basics of Edutainment ROI

  1. 1. Enough with the Edutainment talk. Give me the realz. Enough with EDUTAINMENT R.O.I. the Edutainment BS. Give me the realz.
  3. 3. 1. It takes people.
  4. 4. 2. It takes technology.
  5. 5. 3. It takes time.
  6. 6. We have… rocks. … all of which are limited resources.
  7. 7. These resources = 100% of your budget Employees Marketing Advertising Training & Development Each resource has a specific cost I.T. Accounting Each resource yields specific results Sponsorship
  8. 8. These resources generate 100% of your business Sponsorship Losing even 1% Employees Marketing Advertising Training & Development I.T. Accounting of your budget’s efficiency could seriously ruin your day.
  9. 9. Okay fine. But if I’m going to take a chance on this Edutainment thing, it had better make good business sense! Why should I allocate resources to it?
  10. 10. Reason #1: It will result in a cost reduction. Improve employee retention? You mentioned something about business intelligence and analytics? Reason #2: It will generate more revenue. I want more new clients, more revenue per client, more loyalty, etc.
  11. 11. Now go figure out what program you have to cut to fund this Edutainment thing. Remember that our bonuses are on the line.
  12. 12. Understand that funding for a new Edutainment Program doesn’t appear Which buckets do we empty to fill this new one? out of thin air.
  13. 13. SAY HELLO TO: Business Justification R.O.I.
  14. 14. . . . RETURN ON INVESTMENT
  15. 15. THE R.O.I. EQUATION Investment Expectation of return
  17. 17. Truth about R.O.I. ROI is a business metric, not a edutainment metric. Only measuring digital or social engagement won’t get you anywhere.
  18. 18. Reason #1: COST REDUCTION Reason #2: REVENUE GENERATION Remember what Mr. Bossman said…
  19. 19. I shrank my advertising budget by 20% and my sponsorship budget by 40%. Now I can afford a team of Edutainment rock stars. Can I get a hellz yeah? Okay, hotshot, You have your Edutainment doohickey. Now I’d better see some real results! Or else…
  20. 20. Woohoo! I have a job!!!
  21. 21. Dudes, we are ON THIS!!! Let’s start engagin’!!! I call dibs on the corporate blog.
  22. 22. One Month Later… ACCOUNTING Cool.
  23. 23. Oh my! Look at all the new visitors to our website! And our email open rates! Hot damn, we even have comments on the blog! What about our Twitternets?
  24. 24. This rocks! I never had it so good!!!
  25. 25. Three Months Later… ACCOUNTING Cool.
  26. 26. Monitoring to base… Monitoring to base… Our Google Analytics are through the roof! Even our social mentions are wicked good! We have liftoff! Yeah but… What about the P&L?
  27. 27. Measuring “social” really rocks my world.
  28. 28. Six Months Later… ACCOUNTING Anything? Nope. Nada.
  29. 29. What kind of mood is the old man in today? Not good. He doesn’t care how many visitors the website gets, or how many eyeballs we’ve reached, unless it means we’re growing the business.
  30. 30. But why? Our website is getting mad hits, Jack! And we have 3,000 followers on Twitter now! I’m sorry, son. If your Edutainment program is generating revenue, we aren’t seeing it. We need to allocate resources where we can make money. It’s just business.
  31. 31. Darn it. This media measurement stuff isn’t working. We need to start tying this stuff to actual business performance. Where to start? Let’s see… At the beginning?
  32. 32. Things happen in sequence.
  33. 33. Non-financial impact is not ROI (yet).
  34. 34. Types of non-financial impact Website visitors Social mentions Click-throughs Positive press Email open rates Positive WOM Free member sign-ups Negative press Negative WOM Customer feedback Blog subscribers Pinterest pins Employment applications Retweets Facebook friends Blog comments YouTube views Twitter followers Impressions
  35. 35. Non-financial impact = potential.
  36. 36. ROI = actualized potential.
  37. 37. Reason #1: COST REDUCTION Reason #2: REVENUE GENERATION Remember what Mr. Bossman said…
  38. 38. I need proof that what we’re doing is actually working. Start with proof of concept.
  39. 39. Step 1: Establish a baseline 8% YoY Growth before edutainment since edutainment
  40. 40. Baselines illustrate changes Is something happening here? before edutainment since edutainment
  41. 41. Step 2: Create Activity Timelines
  42. 42. Step 3: Look at revenue Revenue
  43. 43. Step 3: Look at # of transactions Transactions
  44. 44. Step 3: Measure net new clients Transacting clients
  45. 45. Transaction data should be specific F.R.Y. FREQUENCY, REACH, YIELD For example: How often clients spend. (transactions per month) How many clients you’re reaching. (net new clients) How much they spend. ($ per transaction)
  46. 46. The latest numbers indicate that our YoY revenue $ is up 60%. The number of new clients has doubled. So has our revenue per client. Something’s working! Groovy! Let’s figure out what.
  47. 47. Step 4: Measure transactional precursors
  48. 48. Step 4: Measure transactional precursors
  49. 49. We overlaid all of our timelines and noticed that since our Edutainment activities began, our website visits are up, our social mentions are also up, and everyone seems to love us. So is there a discernable pattern in this?
  50. 50. Step 5: Overlay all timelines edutainment activities social data web data number of clients loyalty metrics etc.
  51. 51. Step 6: Look for patterns Before After Impact Impact Impact No Impact Uncertain Impact
  52. 52. Step 7: Prove relationships How was this group touched Before After by Edutainment?
  53. 53. How long will all this analysis take? It’s all a process of elimination, really. isolating patterns, quantifying changes, proving ad-hocs… Then all we have to do is figure out what the cost savings and revenue gains are, and plug them into the equation.
  55. 55. THE R.O.I. EQUATION Investment Expectation of return
  56. 56. Oh wow. This R.O.I. thing wasn’t at all about measuring media, impressions and eyeballs!
  57. 57. ACCOUNTING All things remaining the same… We may have proof of concept. Hot damn! First things first: Prove that edutainment works
  58. 58. So it turns out that our Edutainment program is impacting every aspect of our business except attracting new staff. Can you get on that? Yeah. We need to find out why we aren’t having an effect there. Kthxbye. Then use what you know to make it work better.
  59. 59. Dudes, we are ON THIS!!! Let’s start engagin’!!! I’ll start crafting some wicked blog posts. Attract new staff. Roger that.
  60. 60. Finally, someone with some real metrics for me to sink my teeth into! Good job, Sparky! You done gewd!
  61. 61. So I guess Edutainment is going to stick around a little while longer after all, isn’t it? Yessir. Looks like our budget is safe for now.
  62. 62. Drinks for Everybody!
  63. 63. Slideography Slide # Source 3, 9, 10, 11, 18-31, 37, 38, 46, 49, 53, 56-62 4 6 UFO (TV series) men_enter_scientific_fields_their_numbers_in_computer_science_are_declining Kim Jong Il puppet, from “Team America” Inspiration/Attribution SlideShare presentation: ‘Basics of Social Media ROI’ Olivier Blanchard - Principal, BrandBuilderMarketing