social media roi by james o'clark [metrics marketing bootcamp]

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What’s The Deal With Social Media ROI?

What Is ROI?

ROI may not be the best way to determine social media’s success. You have to start by answering other questions first...1. What is our overall business objective? 2. What role does social media have in that objective? 3. What did our metrics look like before social media? 4. What can we measure?

Social Media Metrics

Online Brand Conversion

SENTIMENT METRICS AND INDICATORS

1. Sentiment Volume: The number of positive/negative/neutral consumers opinions expressed about a brand, company or product

2. Sentiment Ratio: number of +/- opinions expressed divided by the total number of consumer opinions or similar formula

3. Polarity/Intensity: beyond +/- exp: District 9 was f***ing amazin! versus District 9 was a decent Sat night data flick

4. Qualitative Factors: what do they cit as their reasons? E.G. Comcast is terrible, my internet is crawling

5. Specific Customer Feedback: I wish Netflix had subtitles, Blockbuster is better than Netflix, I wish Netflix would come to Canada

Natural Language ProcessingBEWARE – claim to have 80% accuracy – don’t believe the hype

Human ReviewedLimit the number of posts to review and assign each to a category

ADVOCACYIs an act. “The act or process of advocating or supporting a cause or purpose.”

Approaches to Advocacy Measurement

The key to measuring advocacy is to:

1. Identify all the different ways people verbalize their advocacy

2. Isolate advocacy from general positive sentiment

3. Explore who is doing the advocacy and analyze the level of advocacy from that individual for brand/topic vs. other brands/topics

Styles of Measurement:

1. Asking people to recall if they would recommend (survey question)

2. Measuring people’s actual recommendations to each other (survey)

3. Measuring people’s actual recommendations to each other (online monitoring)

Source: David Rabjohns, MotiveQuest

ADVOCACY METHODOLOGIES

1. The Net Promoter Score (NPS) - defined as the likelihood to recommend, http://www.statmetrix.com

2. The Brand Advocacy Quotient (BAQ) - relates to satisfaction and importance, http://www.nielsen-online.com

3. MotiveQuest Online Promoter Score, (OPS) - correlation between online advocacy and sales, http://www.motivequest.com/brandadvocacy

Social Media Connections

Social Media Gross Views

Brand and Fan Engagement

Understanding Value

THANK YOU!

social media roi by james o'clark [metrics marketing bootcamp]

social media metrics

social media roi

social media connections

online advocacy

social media gross views

sentiment metrics

social medias success

brand advocacy quotient

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