Tools to Measure Twitter & Facebook ROI
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The document provides insights on measuring the ROI and impact of social media, emphasizing the importance of having a clear strategy and understanding what to measure. It highlights qualitative metrics such as reach, reputation, and engagement, and suggests using standard analytics tools to assess visitor loyalty and interactions. The overall goal is to foster better relationships with audiences and participate meaningfully in industry conversations.
![Inability to measure ROI [ Source: MarketingSherpa]](https://image.slidesharecdn.com/measuringsocialmediaroi-october21st2009-prsapalmbeach-091022095419-phpapp01/85/Tools-to-Measure-Twitter-Facebook-ROI-3-320.jpg)
![How much is a customer worth? How much does the average customer spend per transaction? Is a customer more likely to purchase a product after some sort of social media interaction? How much is it worth to convert an unhappy customer to a happy customer? On average how many people does a happy customer tell about a product or service? How much can an unhappy customer hurt you? [Source: Jacob Morgan, MarketingProfs] MEASURING ENGAGEMENT](https://image.slidesharecdn.com/measuringsocialmediaroi-october21st2009-prsapalmbeach-091022095419-phpapp01/85/Tools-to-Measure-Twitter-Facebook-ROI-15-320.jpg)
![POST Method Source: Forrester Research/Groundswell. What target market would you most like to attract to your Facebook Fan Page? [ PEOPLE ]: What is the primary OBJECTIVE of your Facebook Fan Page? What STRATEGIES do you plan to implement? What TECHNOLOGIES will you use? Facebook Fan Page Checklist](https://image.slidesharecdn.com/measuringsocialmediaroi-october21st2009-prsapalmbeach-091022095419-phpapp01/85/Tools-to-Measure-Twitter-Facebook-ROI-27-320.jpg)
Tools to Measure Twitter & Facebook ROI
- 1. Presented by MARVIN DEJEAN AUTHOR- SPEAKER & DIGITAL MARKETING EXPERT TOOLS TO MEASURE TWITTER & FACEBOOK ROI AND IMPACT YOU
- 2. WHAT IS SOCIAL MEDIA??????
- 3. Inability to measure ROI [ Source: MarketingSherpa]
- 4. THE RULES OF SOCIAL MEDIA MEASUREMENT Begin with the end In Mind (What is your overall strategy?) A Facebook Page and a Twitter Feed is not a social media strategy (Measurement processes will always differ, depending on business goals) Social Media is about people. People connecting to other people to build better relationships, fostering communities and increasing collective knowledge Measurement and Metrics are one way to help to tell the story of Social Media. Listen first before you engage. Measurement should be baked into your program before you launch it. It’s not an afterthought, it’s part of the process. Learn what to measure: Activity; Tone; Velocity; Attention; Participation Qualitative attributes. Qualitative is just as important as numbers (learn how to tell a story)are you part of the conversation for your products/industry?/How is the competition discussed? Breaking down these qualitative attributes into bite-size chunks that we can measure, understand and translate easily into a business context is a vital step in measuring social media ROI
- 6. DEFINING AND SETTING SUCCESS METRICS “ Figure out what success metrics translate easily into a business context for your organization” Aiming for 10,000 random followers from all over the world might be a nicer number to look at, but being stricter with your success metrics and choosing a more granular goal will make the relationship between the outcome of the campaign and your bottom line easier to understand.
- 7. DEFINING AND SETTING SUCCESS METRICS
- 8. QUALITATIVE WHAT DO YOU WANT TO MEASURE? Reach – create buzz, get new customers, create awareness Reputation and influence – become an authority/thought leader, improve sentiment Engagement – improve customer and brand loyalty These objectives require a more qualitative measurement approach. measure ROI for conversations: - Are we currently part of conversations about our product/industry? How are we currently talked about versus our competitors? Then to measure success, we ask whether we were able to: - Build better relationships with our key audiences? - Participate in conversations where we hadn’t previously had a voice? - Move from a running monologue to a meaningful dialogue with customers?
- 13. MEASURING ENGAGEMENT You can use standard web analytics tools (Google Analytics) to measure: Visitor Loyalty – The number of return visitors over 1 month Recency – The number of return visitors over 1 week Duration – The length of time spent on the site Actions – The number of actions taken on the site: downloading, posting, commenting, playing, etc…
- 15. How much is a customer worth? How much does the average customer spend per transaction? Is a customer more likely to purchase a product after some sort of social media interaction? How much is it worth to convert an unhappy customer to a happy customer? On average how many people does a happy customer tell about a product or service? How much can an unhappy customer hurt you? [Source: Jacob Morgan, MarketingProfs] MEASURING ENGAGEMENT
- 16. Twitter Analyzer
- 17. Twendz- Sentiment Monitoring red (negative), white (neutral), and green (positive)
- 18. HOOTSUITE
- 19. TWITALYZER
- 20. SOCIAL MEDIA ROI CALCULATOR
- 21. POST RANK ANALYTICS Where did the conversations happen (postrank metrics) What did they say (conversation view) Who was it (enhanced OpenSocial profiles)
- 22. URL SHORTERNERS
- 24. TWEET ADDER
- 27. POST Method Source: Forrester Research/Groundswell. What target market would you most like to attract to your Facebook Fan Page? [ PEOPLE ]: What is the primary OBJECTIVE of your Facebook Fan Page? What STRATEGIES do you plan to implement? What TECHNOLOGIES will you use? Facebook Fan Page Checklist
- 30. Marvin Dejean, CEO Markcom Industries, Inc. P:(954) 254-9030 [email protected] www.marvindejean.com Twitter:@Mdejean Facebook:Facebook.com/marvindejean Linkedin:Marvin Dejean