interactive minds presentation 2
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Social Media: Beyond Engagement
@Selina_Power@Bluewire_Mediaselinapower
By Selina Power
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ROI = Return on Ignoring
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How to Set Realistic Expectations
• Have it link back to your business goals.
• How will it be measured? It has to be a number!
• Don’t set your self up for failure.
• Think of the “Why” this goal is important.
• Have a monthly goal and track its success weekly.
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Client Goal Example – Food industry
Specific – Increased customer satisfaction
Measurable – positive sentiment vs. negative sentiment (For every 1 negative comment we want there to be 20) 1 / 20
Attainable- Current positive sentiment vs. negative sentiment is at 1/ 7.
Relevant – Yes, it is one of three company goals for the year.
Time-Bound- This is measured monthly and once the goal has be obtained it will increase.
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What Social Media Goals are Good
Monthly – Aim for at least a 20% growth in both Twitter and Facebook.
Virality per post – This is percentage based on the total number of stories creating from one post and the number of unique people who have seen it. Aim for a 3%
Talking about you – If 10% of your total community.
Unlikes or Unfollowers – This very much based on the industry you are in but no higher than a 2% of the total community per month
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How to Measure DataFacebook – For a nice overall summary look at Facebook Insights.
However for a more thorough view download your full data.
Google Analytics – Social media traffic.
Bit.ly – Track how many click throughs have come from Facebook or Twitter.
Hotspot Timing – download post level data to gauge the optimum time to post content and to see what content is really working.
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The 5 Key Metrics for CEO’s
1. Followers • Social credibility + Trust
• B2C = direct sales
• B2B = the money is in the list
• Market place size and growth
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2. Retweets /Talking About This • People talking about your brand
• Generating remarkable content your fans like
• Relevance of the content that is being shared
• Can assist identifying brand influencers
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3. Sentiment • Positive or negatively?
• This should be the heart of your strategy.
• Sentiment can offer key information about how fans online can affect sales.
• Can define content creation,
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4. Competitor Analysis
• What results are your competitors seeing
• Consider likes, content, posting frequency, fan engagement with posts.
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5. Value of a Like • $ figure
• Potential ROI figure
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How many Value of a Like formula’s are there?
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1M impressions x 2 posts x 30 days = 60M impressions
60M impressions / 1000 x $5 CPM = $3000,000
$3000,000 x 12 months = $3.6M
$3.6M / 1M = $3.60
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L / UpM (LpD x 30) x (C / L) x CR x ACV = Value of a Like
L = Total LikesUpM = Unlikes-per-Month
LpD = Links-per-Day
C = Average Clicks
CR = Conversion RateACV = Average Conversion Value
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The Issue with This Metric
Fan value vs. Cost of acquisition
Direct value
Indirect value
Fan unique value
Fan value is elastic
Fan value varies from product to product
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