Social Media: Beyond Engagement

@Selina_Power@Bluewire_Mediaselinapower

By Selina Power

ROI = Return on Ignoring

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.

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.

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

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.

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

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

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,

4. Competitor Analysis

• What results are your competitors seeing

• Consider likes, content, posting frequency, fan engagement with posts.

5. Value of a Like • $ figure

• Potential ROI figure

How many Value of a Like formula’s are there?

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

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

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