the value of social media working out the roi - cipr sw event, swindon, 4 september 2014 - slides
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Slides from the The Value of Social Media Working Out the ROI CIPR South West event, Thursday, September 4, 10:15am – 1:45pm, SwindonTRANSCRIPT
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Welcome to CIPR SW
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Your CIPR SW Committee
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Chair Elect – Julie Jupe, independent consultant
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Pam Lloyd, B2C Agency Director, Chair CIPR
SW
Julie Jupe, freelance, ex comms at Enviroment
Agency, Chair Elect CIPR SW
Dates for your Diary
Dates
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CIPR SW Conference – Social Media, What
Next?
29th September
PRide - South of England & Channel Islands
21st November
The Value of Social Media Working Out the ROI
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Welcome:
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Andrew Bruce Smith @andismit
Sara Tye @SaraTye
Paul Beadle @Paulbeadle
#CIPRSWEvents
Thank You
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Social Media ROI
Andrew Bruce Smith@andismit
The BIG question…
ROICan we measure and demonstrate
ROI for social media?
The Barcelona Principles (2010)
1. Importance of Goal Setting and Measurement
2.Measuring the Effect on Outcomes is Preferred to Measuring Outputs
3.The Effect on Business Results Can and Should Be Measured Where Possible
4.Media Measurement Requires Quantity and Quality
5.AVEs are not the Value of Public Relations
6. Social Media Can and Should be Measured
7.Transparency and Replicability are Paramount to Sound Measurement
• Social media measurement is a discipline, not a tool; but there is no “single metric”• Organizations need clearly defined goals and outcomes for social media• Media content analysis should be supplemented by web and search analytics, sales and CRM data, survey data and other methods• Evaluating quality and quantity is critical, just as it is with conventional media• Measurement must focus on “conversation” and “communities” not just “coverage”• Understanding reach and influence is important, but existing sources are not accessible, transparent or consistent enough to be reliable; experimentation and testing are key to success
Principle 6: Social media can and should be measured
A word about ROI
ROI = (gain from investment – cost of investment)/cost of investment)
The currency of ROI is money – nothing else!
Important distinction: non-financial vs financial outcomes
Source: Olivier Blanchard: Social Media ROI
Crowdbooster.com
Mention.net
Google Analytics provides a way of seeing the direct and indirect contribution made by any channel against a specific goal
Summary
• We’re still working this out• No one-size fits all• Requires clear and measurable goals/objectives• Combination of tools, technologies and methodologies• Combination of quantitative and qualitative
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Sara TyeThe Value of Social Media - Working out the ROI
Entrepreneur – Speaker – Mentor - Chair
Founder and managing director
Sara Tye
Top 500 PR and Green PR LondonPut The Body Shop on the internet in 1992Set up stakeholder relations for Nokia in the UK – 2.5GLaunched mobile wallet 15 years agoWorked with the first web agency in London in 1992Yell when it was bigger than Google Worked with Eva Pascoe at her first internet caféFirst ecommerce gardening websites, crocus.co.ukInvolved in cdnow.com prior to the sale to Bertelsmann
Founder and Managing Director Redhead PR
UTC
UTC Swindon
To recruit students
Build business partnerships
Engage all stakeholders
ObjectivesObjectives
UTC understandingHardly any open No buildingNo curriculumNo teachersNo profileHardly any budget
Barriers Barriers
Iconic buildingAmazing locationHeritageFTSE partnersLocal support
USPs
USPs
Word of mouthFace to faceBusiness community Alliances Developing contentUsing all channels available
WebsiteCelebritiesEventsStory developmentPhotographyFilmBusiness partnersStrategic adsEmail marketingDesignCompetitions
Strategy Strategy
Social media
• Establish the social media channels
• Increase members of the community
• Build reach
• Constant engagement
Social Media
Social media statistics
• Facebook likes 4,611, reach 6,000
• Twitter followers 947, reach 152,879
• YouTube channel 3,812 views
Social media statistics
UTC Swindon TV
UTC Swindon TV
Events KPI
• 20 shows attended
• 53 students registered
• 15 recorded applications
• Total footfall 250,000
Open Evenings
• 12 open evenings held across catchment area
• 59 students registered
• 23 recorded applications
Events KPI
Anecdotal slide
• Advisory council
• Digital Trading Partnership
• Build up date
• HRH The Duke of York KG
• Kate Walsh
• Billboard
Other outcomes
Round up slide
• Don’t get blinded by the metrics
• Success isn’t just about stats – everyone feels and what they do
• Ice Bucket Challenge
• Visual experience
• Fundraising outcome
• Brand
• Everyone’s talking about it
• Everybody got involved
Conclusions
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The role of social media in the digital building society
Paul BeadleHead of External Affairs
Social Media & Consumer
September 2014
15 million customers1 in 4 people in the UK
1 in 5 First Time Buyers
15% of mortgage market£12m every working hour
12% of all UK savings
6% of currents accountsNorthampton Town and County Freehold Land Society Formed 1848, later became the Anglia Building Society
1976
Things have changed
Portable music wasn’t very portable
Mobile phones weren’t very smart
This was photo sharing
And music streaming
Fax machines were magic
There was no internet
We’ve also changed
Then
Now1974
Then
Now
1997
Then
Now
Then
Now
Then
Now
Now
But are we losing the personal touch?That’s where social media can help
We started with the most important thing.Our reputation
Social Media @Nationwide
70% of journalists get some of their news stories from social media
And social media can amplify a story
October 2011: Set up @NationwidePress Twitter
January 2012: Implemented online monitoring
September 2011: Social Media Team created
December 2011: Began social media project
December 2011: Social Media Forum of key stakeholdersDecember 2011: Created governance
Throughout 2012: Created Main Sites
Reputation Management
77
• Issues monitoring and management• Engaging the media and key influencers
Customer Service & Support
78
• Boost customer satisfaction• Proactive customer service & support
Marketing and Communications
79
• Strengthen customer relationships• Raise brand awareness & consideration
What’s next?Engaging customers
Brands are engaging with customers to help shape products and services
Companies are providing better and richer self service, support and insight
People will use to social media to share their experiences with you.And each other
Including your employees
Q & A
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