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Social Media: What's the ROI?

Social Media: What's the ROI? Businesses everywhere struggle to determine social media's return on investment, or ROI. As more companies embrace social media, the search has continued-with renewed force. ROI Is More Than An Equation social media's ROI Forrester Research found that ROI and measurement challenges are the single greatest concern for 43% of US-based companies. 43% Social media's ROI is hard to find because it needs both qualitative and quantitative measurements. In other words, it's both an art and a science. To be successful, you must choose relevant metrics and have a solid framework. SOCIAL ROI qualitative + quantitative measurements MEDIA more than an equation, success in social media means knowing your customer gefting the right perspective measuring the right things Costomers Followers in You Tube Get the Right Perspective Broadcast Yourset Using a solid framework helps isolate and hone the key elements of your strategy. This four-part framework, proposed by Augie Ray, is based on the Balanced Scorecard. Online Balanced Scorecard Framework f It suggests separating financial and non- financial measures of sUccess, and looking at social media's effects in both the short and long term. Directly financial Financial perspective Risk management perspective Short term Long term Digital реrspective Brand perspective In 2010, the term "social media ROI" presented 2.5 million hits. And now, less than a year later, the same search will present over 1.5 billion. 1.5 billion FINANCIAL Indirectly financial NON-FINANCIAL ROI Pyramid "How do we determine ROI?" "How do we know we're measuring the right things?" "How do we quantify gains that aren't financial?" Jeremiah Owyang suggests another approach, based on organizational roles. Here, each participant receives only the data and metrics they can actually use. 2? It's being debated over 800 times a day in social media. And 59% of the time, the discussion is neutral. Put simply, most businesses aren't sure how to answer these questions. Role: Metrics: Specific Data (examples) Business Executives Revenue, Reputation, CSAT ess Social Media Analytics Share of Voice, Resonation, WOM, Šupport Response, Insights Intake Business Stakeholders Community Managers and Agencies Engagement Data Clicks, Fans, Followers, RTs, Views, Check-Ins 入 众 大大 大 What are your customers thinking and doing online? Without the right metrics, you'll never know... and won't be able to reach them effectively. The solution is to track several kinds of customer behavior. We recommend dividing your metrics into these three categories: Watch the Right Signals You must have the measurement capacity to see what is and isn't working. In fact, a 2009 study by the Lenskold Group found that the most efficient players in social media cite their ability to measure and analyze data as their biggest competitive advantage. Brand Awareness Word of Mouth Brand Engagement - Quotes/Embedding - Mentions / Share of Voice - Sentiments - Retweets - Friends, Fans, Followers - @Replies / Survey Respondents - Page Views/Visitors - Clicks on Links - Number/ Quality of Incoming Links Return Visits inou Tube +Follow Engagement Matters Know When To Talk... And When To Listen Success in social media comes from knowing your customer. To do that, it's essential to tap into the conversation they're already having. Customers can't just be "advertised to" anymore. They demand to be active participants in your brand. It's tempting to focus on "easy" measurements like Twitter followers, Facebook friends, or subscribers. When businesses treat social media merely as a megaphone, consumers lose trust and respect for the company. But without understanding your customers' level of interest, these numbers are meaningless. That's why every company must determine for themselves how they'|l measure Customer engagement. But when companies listen, they can discover competitive threats, potential partnerships, service opportunities, and learn what matters most to their customers. High-Caliber Campaigns Among companies that have seen the most significant results with social media, 82% are actively involved in discussions with There Is No "Silver Bullet" customers. In social media, what works for one company won't work for another. It is essential to tie measurements to your specific business objectives. But by establishing the right metrics for your audience, and combining them with a solid framework, you'll produce the actionable data you need for social media success. They've built their followings quickly, too: 44% started their social media 82% 44% actively involved in discussions campaigns less than a year ago. started social less than with customers 1 year ago 59% Social Media: What's the ROI? Businesses everywhere struggle to determine social media's return on investment, or ROI. As more companies embrace social media, the search has continued-with renewed force. ROI Is More Than An Equation social media's ROI Forrester Research found that ROI and measurement challenges are the single greatest concern for 43% of US-based companies. 43% Social media's ROI is hard to find because it needs both qualitative and quantitative measurements. In other words, it's both an art and a science. To be successful, you must choose relevant metrics and have a solid framework. SOCIAL ROI qualitative + quantitative measurements MEDIA more than an equation, success in social media means knowing your customer gefting the right perspective measuring the right things Costomers Followers in You Tube Get the Right Perspective Broadcast Yourset Using a solid framework helps isolate and hone the key elements of your strategy. This four-part framework, proposed by Augie Ray, is based on the Balanced Scorecard. Online Balanced Scorecard Framework f It suggests separating financial and non- financial measures of sUccess, and looking at social media's effects in both the short and long term. Directly financial Financial perspective Risk management perspective Short term Long term Digital реrspective Brand perspective In 2010, the term "social media ROI" presented 2.5 million hits. And now, less than a year later, the same search will present over 1.5 billion. 1.5 billion FINANCIAL Indirectly financial NON-FINANCIAL ROI Pyramid "How do we determine ROI?" "How do we know we're measuring the right things?" "How do we quantify gains that aren't financial?" Jeremiah Owyang suggests another approach, based on organizational roles. Here, each participant receives only the data and metrics they can actually use. 2? It's being debated over 800 times a day in social media. And 59% of the time, the discussion is neutral. Put simply, most businesses aren't sure how to answer these questions. Role: Metrics: Specific Data (examples) Business Executives Revenue, Reputation, CSAT ess Social Media Analytics Share of Voice, Resonation, WOM, Šupport Response, Insights Intake Business Stakeholders Community Managers and Agencies Engagement Data Clicks, Fans, Followers, RTs, Views, Check-Ins 入 众 大大 大 What are your customers thinking and doing online? Without the right metrics, you'll never know... and won't be able to reach them effectively. The solution is to track several kinds of customer behavior. We recommend dividing your metrics into these three categories: Watch the Right Signals You must have the measurement capacity to see what is and isn't working. In fact, a 2009 study by the Lenskold Group found that the most efficient players in social media cite their ability to measure and analyze data as their biggest competitive advantage. Brand Awareness Word of Mouth Brand Engagement - Quotes/Embedding - Mentions / Share of Voice - Sentiments - Retweets - Friends, Fans, Followers - @Replies / Survey Respondents - Page Views/Visitors - Clicks on Links - Number/ Quality of Incoming Links Return Visits inou Tube +Follow Engagement Matters Know When To Talk... And When To Listen Success in social media comes from knowing your customer. To do that, it's essential to tap into the conversation they're already having. Customers can't just be "advertised to" anymore. They demand to be active participants in your brand. It's tempting to focus on "easy" measurements like Twitter followers, Facebook friends, or subscribers. When businesses treat social media merely as a megaphone, consumers lose trust and respect for the company. But without understanding your customers' level of interest, these numbers are meaningless. That's why every company must determine for themselves how they'|l measure Customer engagement. But when companies listen, they can discover competitive threats, potential partnerships, service opportunities, and learn what matters most to their customers. High-Caliber Campaigns Among companies that have seen the most significant results with social media, 82% are actively involved in discussions with There Is No "Silver Bullet" customers. In social media, what works for one company won't work for another. It is essential to tie measurements to your specific business objectives. But by establishing the right metrics for your audience, and combining them with a solid framework, you'll produce the actionable data you need for social media success. They've built their followings quickly, too: 44% started their social media 82% 44% actively involved in discussions campaigns less than a year ago. started social less than with customers 1 year ago 59% Social Media: What's the ROI? Businesses everywhere struggle to determine social media's return on investment, or ROI. As more companies embrace social media, the search has continued-with renewed force. ROI Is More Than An Equation social media's ROI Forrester Research found that ROI and measurement challenges are the single greatest concern for 43% of US-based companies. 43% Social media's ROI is hard to find because it needs both qualitative and quantitative measurements. In other words, it's both an art and a science. To be successful, you must choose relevant metrics and have a solid framework. SOCIAL ROI qualitative + quantitative measurements MEDIA more than an equation, success in social media means knowing your customer gefting the right perspective measuring the right things Costomers Followers in You Tube Get the Right Perspective Broadcast Yourset Using a solid framework helps isolate and hone the key elements of your strategy. This four-part framework, proposed by Augie Ray, is based on the Balanced Scorecard. Online Balanced Scorecard Framework f It suggests separating financial and non- financial measures of sUccess, and looking at social media's effects in both the short and long term. Directly financial Financial perspective Risk management perspective Short term Long term Digital реrspective Brand perspective In 2010, the term "social media ROI" presented 2.5 million hits. And now, less than a year later, the same search will present over 1.5 billion. 1.5 billion FINANCIAL Indirectly financial NON-FINANCIAL ROI Pyramid "How do we determine ROI?" "How do we know we're measuring the right things?" "How do we quantify gains that aren't financial?" Jeremiah Owyang suggests another approach, based on organizational roles. Here, each participant receives only the data and metrics they can actually use. 2? It's being debated over 800 times a day in social media. And 59% of the time, the discussion is neutral. Put simply, most businesses aren't sure how to answer these questions. Role: Metrics: Specific Data (examples) Business Executives Revenue, Reputation, CSAT ess Social Media Analytics Share of Voice, Resonation, WOM, Šupport Response, Insights Intake Business Stakeholders Community Managers and Agencies Engagement Data Clicks, Fans, Followers, RTs, Views, Check-Ins 入 众 大大 大 What are your customers thinking and doing online? Without the right metrics, you'll never know... and won't be able to reach them effectively. The solution is to track several kinds of customer behavior. We recommend dividing your metrics into these three categories: Watch the Right Signals You must have the measurement capacity to see what is and isn't working. In fact, a 2009 study by the Lenskold Group found that the most efficient players in social media cite their ability to measure and analyze data as their biggest competitive advantage. Brand Awareness Word of Mouth Brand Engagement - Quotes/Embedding - Mentions / Share of Voice - Sentiments - Retweets - Friends, Fans, Followers - @Replies / Survey Respondents - Page Views/Visitors - Clicks on Links - Number/ Quality of Incoming Links Return Visits inou Tube +Follow Engagement Matters Know When To Talk... And When To Listen Success in social media comes from knowing your customer. To do that, it's essential to tap into the conversation they're already having. Customers can't just be "advertised to" anymore. They demand to be active participants in your brand. It's tempting to focus on "easy" measurements like Twitter followers, Facebook friends, or subscribers. When businesses treat social media merely as a megaphone, consumers lose trust and respect for the company. But without understanding your customers' level of interest, these numbers are meaningless. That's why every company must determine for themselves how they'|l measure Customer engagement. But when companies listen, they can discover competitive threats, potential partnerships, service opportunities, and learn what matters most to their customers. High-Caliber Campaigns Among companies that have seen the most significant results with social media, 82% are actively involved in discussions with There Is No "Silver Bullet" customers. In social media, what works for one company won't work for another. It is essential to tie measurements to your specific business objectives. But by establishing the right metrics for your audience, and combining them with a solid framework, you'll produce the actionable data you need for social media success. They've built their followings quickly, too: 44% started their social media 82% 44% actively involved in discussions campaigns less than a year ago. started social less than with customers 1 year ago 59% Social Media: What's the ROI? Businesses everywhere struggle to determine social media's return on investment, or ROI. As more companies embrace social media, the search has continued-with renewed force. ROI Is More Than An Equation social media's ROI Forrester Research found that ROI and measurement challenges are the single greatest concern for 43% of US-based companies. 43% Social media's ROI is hard to find because it needs both qualitative and quantitative measurements. In other words, it's both an art and a science. To be successful, you must choose relevant metrics and have a solid framework. SOCIAL ROI qualitative + quantitative measurements MEDIA more than an equation, success in social media means knowing your customer gefting the right perspective measuring the right things Costomers Followers in You Tube Get the Right Perspective Broadcast Yourset Using a solid framework helps isolate and hone the key elements of your strategy. This four-part framework, proposed by Augie Ray, is based on the Balanced Scorecard. Online Balanced Scorecard Framework f It suggests separating financial and non- financial measures of sUccess, and looking at social media's effects in both the short and long term. Directly financial Financial perspective Risk management perspective Short term Long term Digital реrspective Brand perspective In 2010, the term "social media ROI" presented 2.5 million hits. And now, less than a year later, the same search will present over 1.5 billion. 1.5 billion FINANCIAL Indirectly financial NON-FINANCIAL ROI Pyramid "How do we determine ROI?" "How do we know we're measuring the right things?" "How do we quantify gains that aren't financial?" Jeremiah Owyang suggests another approach, based on organizational roles. Here, each participant receives only the data and metrics they can actually use. 2? It's being debated over 800 times a day in social media. And 59% of the time, the discussion is neutral. Put simply, most businesses aren't sure how to answer these questions. Role: Metrics: Specific Data (examples) Business Executives Revenue, Reputation, CSAT ess Social Media Analytics Share of Voice, Resonation, WOM, Šupport Response, Insights Intake Business Stakeholders Community Managers and Agencies Engagement Data Clicks, Fans, Followers, RTs, Views, Check-Ins 入 众 大大 大 What are your customers thinking and doing online? Without the right metrics, you'll never know... and won't be able to reach them effectively. The solution is to track several kinds of customer behavior. We recommend dividing your metrics into these three categories: Watch the Right Signals You must have the measurement capacity to see what is and isn't working. In fact, a 2009 study by the Lenskold Group found that the most efficient players in social media cite their ability to measure and analyze data as their biggest competitive advantage. Brand Awareness Word of Mouth Brand Engagement - Quotes/Embedding - Mentions / Share of Voice - Sentiments - Retweets - Friends, Fans, Followers - @Replies / Survey Respondents - Page Views/Visitors - Clicks on Links - Number/ Quality of Incoming Links Return Visits inou Tube +Follow Engagement Matters Know When To Talk... And When To Listen Success in social media comes from knowing your customer. To do that, it's essential to tap into the conversation they're already having. Customers can't just be "advertised to" anymore. They demand to be active participants in your brand. It's tempting to focus on "easy" measurements like Twitter followers, Facebook friends, or subscribers. When businesses treat social media merely as a megaphone, consumers lose trust and respect for the company. But without understanding your customers' level of interest, these numbers are meaningless. That's why every company must determine for themselves how they'|l measure Customer engagement. But when companies listen, they can discover competitive threats, potential partnerships, service opportunities, and learn what matters most to their customers. High-Caliber Campaigns Among companies that have seen the most significant results with social media, 82% are actively involved in discussions with There Is No "Silver Bullet" customers. In social media, what works for one company won't work for another. It is essential to tie measurements to your specific business objectives. But by establishing the right metrics for your audience, and combining them with a solid framework, you'll produce the actionable data you need for social media success. They've built their followings quickly, too: 44% started their social media 82% 44% actively involved in discussions campaigns less than a year ago. started social less than with customers 1 year ago 59% Social Media: What's the ROI? Businesses everywhere struggle to determine social media's return on investment, or ROI. As more companies embrace social media, the search has continued-with renewed force. ROI Is More Than An Equation social media's ROI Forrester Research found that ROI and measurement challenges are the single greatest concern for 43% of US-based companies. 43% Social media's ROI is hard to find because it needs both qualitative and quantitative measurements. In other words, it's both an art and a science. To be successful, you must choose relevant metrics and have a solid framework. SOCIAL ROI qualitative + quantitative measurements MEDIA more than an equation, success in social media means knowing your customer gefting the right perspective measuring the right things Costomers Followers in You Tube Get the Right Perspective Broadcast Yourset Using a solid framework helps isolate and hone the key elements of your strategy. This four-part framework, proposed by Augie Ray, is based on the Balanced Scorecard. Online Balanced Scorecard Framework f It suggests separating financial and non- financial measures of sUccess, and looking at social media's effects in both the short and long term. Directly financial Financial perspective Risk management perspective Short term Long term Digital реrspective Brand perspective In 2010, the term "social media ROI" presented 2.5 million hits. And now, less than a year later, the same search will present over 1.5 billion. 1.5 billion FINANCIAL Indirectly financial NON-FINANCIAL ROI Pyramid "How do we determine ROI?" "How do we know we're measuring the right things?" "How do we quantify gains that aren't financial?" Jeremiah Owyang suggests another approach, based on organizational roles. Here, each participant receives only the data and metrics they can actually use. 2? It's being debated over 800 times a day in social media. And 59% of the time, the discussion is neutral. Put simply, most businesses aren't sure how to answer these questions. Role: Metrics: Specific Data (examples) Business Executives Revenue, Reputation, CSAT ess Social Media Analytics Share of Voice, Resonation, WOM, Šupport Response, Insights Intake Business Stakeholders Community Managers and Agencies Engagement Data Clicks, Fans, Followers, RTs, Views, Check-Ins 入 众 大大 大 What are your customers thinking and doing online? Without the right metrics, you'll never know... and won't be able to reach them effectively. The solution is to track several kinds of customer behavior. We recommend dividing your metrics into these three categories: Watch the Right Signals You must have the measurement capacity to see what is and isn't working. In fact, a 2009 study by the Lenskold Group found that the most efficient players in social media cite their ability to measure and analyze data as their biggest competitive advantage. Brand Awareness Word of Mouth Brand Engagement - Quotes/Embedding - Mentions / Share of Voice - Sentiments - Retweets - Friends, Fans, Followers - @Replies / Survey Respondents - Page Views/Visitors - Clicks on Links - Number/ Quality of Incoming Links Return Visits inou Tube +Follow Engagement Matters Know When To Talk... And When To Listen Success in social media comes from knowing your customer. To do that, it's essential to tap into the conversation they're already having. Customers can't just be "advertised to" anymore. They demand to be active participants in your brand. It's tempting to focus on "easy" measurements like Twitter followers, Facebook friends, or subscribers. When businesses treat social media merely as a megaphone, consumers lose trust and respect for the company. But without understanding your customers' level of interest, these numbers are meaningless. That's why every company must determine for themselves how they'|l measure Customer engagement. But when companies listen, they can discover competitive threats, potential partnerships, service opportunities, and learn what matters most to their customers. High-Caliber Campaigns Among companies that have seen the most significant results with social media, 82% are actively involved in discussions with There Is No "Silver Bullet" customers. In social media, what works for one company won't work for another. It is essential to tie measurements to your specific business objectives. But by establishing the right metrics for your audience, and combining them with a solid framework, you'll produce the actionable data you need for social media success. They've built their followings quickly, too: 44% started their social media 82% 44% actively involved in discussions campaigns less than a year ago. started social less than with customers 1 year ago 59%

Social Media: What's the ROI?

shared by IGEmp on Oct 03
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This infographic explains how we determine Return in investment (ROI) for social media investment. It explains what the best way is to use social media in order to get the highest return on investment.

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