yes, social roi can be determined
Post on 20-Oct-2014
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DESCRIPTION
An Attensity-sponsored preso. Overviews the Gains and Costs associated with social business programs. Use the information to help you determine the economic value of your social program.TRANSCRIPT
Yes, social ROI can be determined
www.kathyherrmann.comwww.webershandwick.com
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The rules of business remain in effect even when you transition your company to a
social business model.
Social media can and should be valued.
Expect high social margins
1 2$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
Gains versus Costs (Undiscounted)
RevenuesCost SavingsPeople CostsSocial Monitoring Solution Costs
Year
Dollars
Gains
Costs
ROI = 488%
Show social media results in ways client
CXOs will best understand….
…and that’s dollars and sense, with a
defendable ROI.
Convert social benefits (like influence, loyalty, engagement, etc.) into
monetary terms….
…yes, it can be done.
Couple defendable
assumptions with
appropriate risk.
8
Social Gains versus Costs
10
Sales Revenues
Earn higher revenues from better messaging.
Expand revenues by extending Impact, Reach, and Yield.
Consumer Insight Savings
Social Monitoring – Gain cost savings by substituting ongoing and real-time social monitoring for traditional market research.
Brand Protection Savings
Gain savings from early warnings to brewing crises, conversations and events.
Fast action means revenue preservation and lowered agency costs for crisis mitigation.
Lead Generation Savings
Gain savings via
• Lowered cost of lead acquisition, and
• Shortened sales cycle.
1. Lower the number of incidents (or cases).- Identify brewing situations. Respond quickly
and effectively.
Call Center Savings
2. Decrease the time per incident or case.- Through better knowledge management or
triage.
People costs…
• Client employees who make up the social team.
• Third parties can include:– PR agency.– Marketing agency.– Consultants.
Tech costs for Social platform
Pretty doggone low compared to gains potential.
Summary
Social business initiatives can and should be valued.
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Know social value and risk, and then you’re ready for the big leap.
Contact information
Kathy Herrmann571-236-7929
Natalie Petouhoff(310) 854-8270
[email protected] http://www.webershandwick.com