Interactive minds presentation 2
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This document discusses social media goals and metrics for businesses. It provides examples of specific, measurable, attainable, relevant, and time-bound (SMART) goals for social platforms like increasing customer satisfaction. Key metrics discussed include followers, retweets/engagement, sentiment, competitor analysis, and various formulas for calculating the value of a like. However, the document notes that calculating fan value is complex as it can vary based on acquisition costs, direct vs. indirect value, unique fan attributes, and product differences.
Interactive minds presentation 2
- 1. Social Media: Beyond Engagement By Selina Power @Selina_Power selinapower @Bluewire_Media
- 2. ROI = Return on Ignoring
- 3. 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.
- 4. 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.
- 5. 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
- 6. How to Measure Data Facebook – For a nice overall summary look at Facebook Insights. However for a more thorough view download your full data. Hotspot Timing – download post level data to gauge the optimum time to post content and to see what content is really working. Google Analytics – Social media traffic. Bit.ly – Track how many click throughs have come from Facebook or Twitter.
- 7. 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
- 8. 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
- 9. 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,
- 10. 4. Competitor Analysis • What results are your competitors seeing • Consider likes, content, posting frequency, fan engagement with posts.
- 11. 5. Value of a Like • $ figure • Potential ROI figure
- 13. How many Value of a Like formula’s are there?
- 14. 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
- 15. L / UpM (LpD x 30) x (C / L) x CR x ACV = Value of a Like L = Total Likes UpM = Unlikes-per-Month LpD = Links-per-Day C = Average Clicks CR = Conversion Rate ACV = Average Conversion Value
- 16. 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