How can social listening help to determine ROI?

How can social listening help to determine ROI? from Brandwatch

1. 1. NOW YOU KNOW | BRANDWATCH.COM #NYKCON F How can Social Listening help to determine ROI? Anne Baudisch Project Manager, Brandwatch
2. 2. #NYKCON F How to measure ROI?
3. 3. #NYKCON F How to measure Return On Investment?
4. 4. #NYKCON F CostsRevenue PROFIT Reducing Costs Avoiding Costs Loyalty Recommendations Satisfaction Engagement Reach Content Usage Conversions Sales HR Reputation Customer Service Enterprise 2.0 Purchase Relevant Set Awareness Knowledge Interest Preference Action Further Training Bundesverband Digitale Wirtschaft (BVDW) e.V. Staff Operating Costs Software Costs Media/PR Spending Agency Costs Customer Retention Customer Acquisition Awareness Internal External
5. 5. #NYKCON F Social-Media-Strategy Goals Company Goals Strategic Goals Action Goals RAISING PROFITS Increase Revenue Decrease Costs Customer Retention Customer Acquisition Customer Satisfaction Cross-/ Up-Selling Awareness, Reach, Preference Increase Purchase Intention, Conversions, Sales Loyalty, Recommendations, Service Satisfaction Leads, Video Clicks, Engagement Sentiment, Detractors, Influencer Bundesverband Digitale Wirtschaft (BVDW) e.V.
6. 6. #NYKCON F Change the view… Company Goal Strategy Goal Action Goal Company Goal Strategy Goal Action Goal
7. 7. #NYKCON F Action Goal: Increase Awareness
8. 8. #NYKCON F Company Goal Company Sub-Goal Strategy Goal Action Goal KPI Metric Data Collection Method Increase Profits Increase Sales Customer Acquisition Increase Awareness Increase Awareness by x% Share of Buzz Monitoring Interaction Rates (Shares, Likes, Comments) Social Media Analytics, Monitoring Number of Mentions Monitoring Aided or Unaided Recall Survey Action Goal: Increase Awareness Bundesverband Digitale Wirtschaft (BVDW) e.V.
9. 9. #NYKCON F Buzz created by the campaign is only valuable if it - Increases your actual brand awareness - It has a measurable impact on your company goals Learning – Increase Awareness: Salt Bae
10. 10. #NYKCON F Action Goal: Become #1 Choice
11. 11. #NYKCON F Company Goal Company Sub-Goal Strategy Goal Action Goal KPI Metric Data Collection Method Increase Profits Increase Sales Customer Acquisition Become #1 Choice Top of Mind (in target group in x month/years) Brand Love Survey Community Growth (Growth of Fans, Followers, Advocates) Social Media Analytics, Intention to Buy Monitoring, Survey Recommendations Net Promoter Score, Recommendation Text Survey, Monitoring, Social Media Analytics Positive Customer Reviews Social Media Analytics, Monitoring, Web Tracking Bundesverband Digitale Wirtschaft (BVDW) e.V. Action Goal: Become #1 Choice
12. 12. #NYKCON F Kendall Jenner for Pepsi – Organic Revenue Pepsico -Quarterly Organic Revenue Growth Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 3.5% 3.3% 4.2% 3.7% 2.1% 3.1% 1.7% n.a. • Spent ~ $5 Million producing the ad • ~ $100 Mio – media buy (People Magazine) • Pulled it on the second day PepsiCo, Inc.
13. 13. #NYKCON F Morning Consult survey (2.200 Millennials) reveals • 44% more in favor of the brand vs 25% less in favor of the brand • Kendalls approval rate only 28% Kendall Jenner for Pepsi – Survey Result
14. 14. #NYKCON F - Use various methods to measure the success of your campaign and compare all the data you have available - Overall negative perception of your campaign doesn’t necessarily mean you failed the effect on your target group Learning – Become #1 Choice: Kandell Jenner for Pepsi
15. 15. #NYKCON F 1. Define your goals (Company, Strategy, Action, Measurement) 2. Choose your methods, metrics and KPIs 3. Collect data 4. Analyse and report data 5. Action, action, action 5 Steps to be successful measuring success
16. 16. #NYKCON F anne@brandwatch.com Anne Baudisch Project Manager, Brandwatch
17. 17. #NYKCON F Now You Know