Tag Archives: social media ROI

STOP ‘Social Media’ RIGHT NOW!

STOP SOCIAL MEDIA NOW!You or your business may already be fully engaged with social media. All may be going brilliantly. Your social activity is a huge success. Your audiences are engaged. Your campaign and channel strategies thriving. Your ROI clear and positive. If this is the case, then STOP reading this article, as it’s not for you.

This article is for those that are frustrated with social media activity. That frustration may manifest from personally feeling that you’re not doing enough, not knowing where or how to start or that you’re just not getting the results you desire. Or it may be the case that you’re frustrated that social isn’t being given any headspace in your organisation. There isn’t any buy in from the CEO or senior management.

If you’re still reading – then right now – I want you to think differently. I want you to forget the words ‘social’ and ‘media’ – and instead, I want you to contemplate the following words:

  • Customer Engagement strategy
  • Customer communications strategy
  • Customer outreach / feedback strategy

Perhaps these words / concepts aren’t as ‘current’ as the two words we’re forgetting right now – but if you think about the bigger picture – they give a far deeper meaning to the tweets, posts and pics shared as part of ‘social’ ‘media’ activity.

Every strategy should start with the question – why? Why are we/you doing this?

This approach helps you to uncover your purpose. You can then work backwards from your purpose. Figuring out the various steps required to get there. Helping you to be specific and bring some clarity to what you’re looking to achieve via social channels.

So your question right now is Why? Why are you doing/wanting to do social media?

The answer you get then steers all that you do. If you’re doing social because it’s 2017 and that’s what all businesses now do – then I suggest you stop doing it and go back to asking the ‘why’ question. Doing social just because everyone else is – is not a strategy.

For CEOs or senior leaders that consider ‘social media’ as nothing more than a time wasting, non-direct revenue generating distraction – (whether that’s your thinking or you’re hopeful to change someone else’s thinking) – opening your eyes to the deeper meaning and talking of client / customer engagement, communication strategies, outreach / feedback strategies, can help to overcome the short-sightedness.

Social media channels are enablers. Enablers to assist you to achieve necessary client / customer / new business engagement. Used as part of an integrated campaign or channel plan, they can steer or enhance activity. You may lead some activities via social channels – or you may plug-in social to support other channel activities.

Let’s face it – without getting caught up on B2B or B2C – let’s just contemplate P2P – people to people. There are more than a billion ‘people’ logging into Facebook daily. (And that’s just Facebook – remember there are many other channels where people spend serious amounts of time). Some of them will be your customers or your potential customers. If social media is where your customers are – then shouldn’t you be building the channels into your communication / engagement plans?

If you’ve got stuck in your thinking of what social is and why you do or don’t do social media – I ask you to step back and really answer the ‘why’ question from a strategic perspective. And then do a bit of a business reality check to address any potential gaps:

  • What’s your customer engagement plan / program?
  • How do you actively listen to what customers are saying about you / your business?
  • Where do you source ideas for relevant and engaging content?
  • How do you engage those customers/prospective customers who are active on social channels?
  • Is there an integrated communications strategy in place?

To those that still think of ‘social media’ as activities which are not business critical, then calling these important endeavours ‘social media’ – isn’t really doing anyone any favours.

So stop calling it social media – and step into the bigger picture.

As always – any questions tweet me @michellecarvill or email michelle@carvillcreative.co.uk 

Michelle Carvill, best selling business author, speaker, founder and Director at Carvill – the social media agency focused on creating authentic engagement. For information about how the team at Carvill can help you – simply get in touch or visit our website.

 

Social Media – What’s the Real ROI?

Zig Ziglar - Those that aim for nothing quote

Whilst we can all get bogged down in ‘doing the doing’ – I find it so rewarding and energising when I take the time to get out and about to talk to people.

The last couple of months have seen me doing a number of talks – all about a similar and popular  topic.

February saw me talking at The Chelsea Design Club about the practicalities of making social work for design businesses.  Early March I joined Robert Harding at The Photographer’s Gallery to speak to a room of photographers about ‘getting social’.  And just last week I joined the team at LinkedIn in the UK HQ to talk about social and ROI – and last week I joined Richmond Event’s Digital Marketing Forum – again, focusing on ROI.

There’s no doubt about it – social media ROI is indeed a hot topic.

So, what’s the magic ROI formula? What should people be measuring and what should they expect to see?

Of course, in all realms of digital marketing we’ve got data coming out of our data. Big data truly exists – and there are dashboards a plenty that will enable us to track our customer’s every move.

As a marketer, I do love data – BUT I only ‘truly’ love and respect data that is really useful.

Measuring what matters

And so that brings me to what I consider is really key for measuring ROI when it comes to social media.

I love the saying by Zig Ziglar – ‘Those that aim for nothing hit it with remarkable accuracy’.  And I find this is particularly true when it comes to measuring what matters with social.

With social channels, you get a lot of data – much of which is highly visible. Followers, retweets, shares, engagement etc – and of course we can be measuring these aspects. But to really understand social media ROI – I believe you really have to be very clear on what it is you are looking to achieve at the outset.

It’s common knowledge that it’s unusual for social channels to behave as direct marketing channels – so sales directly achieved via Facebook and Twitter are unlikely to be anywhere near as direct as from other sources. So stating that you want 50 direct sales is potentially unrealistic (however, this does depend on activities and sector).

So, it’s about being realistic about what can be achieved via social and where social makes an impact. The wonderful Gary Vaynerchuk  aligns social media ROI with the brilliant question, ‘What’s the ROI of your mother?’ – however, whilst I agree with much of what Gary V states – I do believe that there are some practical ways to measure social media ROI.

To review some of the more practical aspects of social activity:

  • Increase Brand Awareness
    • Here you may very well be asking:
    • Are we growing relevant followers? Note that relevant is a key word here.
  • Establish Credibility and Trust
    • Are we getting endorsements/shares from influential people?
    • How is our audience responding to these influencers?
    • Are those influencers extending the reach of our audience?
  •  Connect with your Audience
    • Is your audience responding well to your content?
    • Is the content you share encouraging engagement?
    • What levels of shares, reach and discussion is our content achieving?
  • Find New Leads/Drive Sales
    • Is social activity bringing people back to your website?
    • Have we achieved a certain amount of sign ups / downloads etc.
    • How is social helping us to convert to sales / customers?

The above areas are by no means the only aspects you need to be considering – each campaign activity you undertake will have it’s own objectives. For example: you may set a target of partnering with 10 key influencers in your space – or connecting with influential bloggers.  Once you have identified metrics that really matter – and have set off with the end in mind. Then, and only then, can you have any idea whether or not your endeavours are truly hitting the targets. (Remember, what Zig said – right!).

Having objectives at the outset can really steer your activity:

I have a very simple ‘let’s clarify objectives’ model:

  • What does success look like? What objectives / outcomes are we looking to achieve?
  • What metrics / evidence do we need so that we can measure progress?
  • What discipline will we apply to ensure we are continuously monitoring and learning?

Of course, these aspects don’t just apply to social – and once you know what it is that you want to achieve – and what those metrics / indicators look like – you can even start to apply a monetary value to them so that you can you work out exactly what ROI looks like.

Let’s create a rudimentary example to clarify the £ point:

Let’s say landing a guest blog on a pre identified influential blog has a monetary value to you of say, £500.   If you therefore set a target of 5 such guest blogs over the quarter – then if you achieve the target – the monetary value (return) is £2500.  Make sense?

In the world of social media – finding return on investment is possible – particularly if you have set out with very clear objectives.  Therefore, don’t just dive in an engage – before you do – remember to do your planning and set out those objectives – start with the end in mind.

That way – measuring the ROI of social is a whole lot simpler.

As always – any questions tweet me @michellecarvill or email michelle@carvillcreative.co.uk 

Michelle Carvill, best selling business author, speaker, founder and Director at Carvill – the social media marketing agency. For information about how the team at Carvill can help you – simply get in touch or visit our website for more information.

Social Media ROI & LinkedIn’s Social RecruitIn event

As a business owner – it’s often difficult to step outside of what we do day to day working ‘in’ the business) – to take time out to work ‘on’ the business. However, whilst it’s difficult – I recognise it’s also absolutely necessary.

For me, when I get the opportunity to talk at an event – it’s the perfect opportunity to do some working ‘on’.

Yesterday I had the pleasure of being part of LinkedIn’s Social RecruitIn event, at the Business Design Centre, focused on helping agencies to build, engage and recruit.

The conference theme was around the Art and Science of Recruitment – covering talks from both the creative art side and the data drive science side.

My talk focused on Measuring the Value of Social Media – giving a quick update on where we are with social media, from a technology and stats perspective – and then providing a practical framework for how to measure social.

ROI Mother

Key to measuring anything is, of course, determining the metrics – and then critical to identifying the return – is attaching a monetary value to those metrics.

I couldn’t resist kicking off my including the colourful and creative Gary Vaynerchuk’s (@garyvee) analogy ‘What’s the ROI of your Mother?’ – and that certainly become a continuous theme to the start of many of the conversations I had during the day (so thanks Gary).

Of course, whilst I agree with Gary that it’s often tricky to measure some of the more intangible aspects of social – I disagree that it’s impossible. There are certainly concrete elements that can be measured – the all important aspect is determining what it is you are setting out to achieve and then what you are going to measure to determine whether you’re getting there and achieving results.

I’ll put together a webinar on this very soon – so if you’d like to join that – email me and I’ll be sure to loop you in.

My session was followed by morning tea – and then @JamesCaan took to the stage – sharing his insights into how social media can be used directly within the recruitment industry – and showcasing how he is applying social media activity to leverage opportunities.

My favourite session on the morning saw Dave Hazlehurst (@googledave) take to the stage to lead a discussion on Amplifying your brand through social.

Dave

Dave’s punchy character, passion for his topic and delivery style certainly grabbed attention – and in just 20 minutes he shared so many nuggets and takeaways around content marketing; the power of stories, content ideas around education and pain points and brand amplification.  Always great to meet and connect with people that really talk the same language and I’ll certainly be tuning in to his musings and reading his book, Getting Goosebumps.

Over lunch I was fortunate to get to listen to the headline keynote, Lou Adler (@LouA), CEO of The Adler Group – who was holding a Q&A. I really enjoyed his stance on performance based hiring. Aspects of which that could be applied not only to recruitment but many other sectors and areas of business.

After lunch I was keen to see Ollie Sharp, Senior Sales Manager at LinkedIn – talking and leading a panel on How Senior Leads and Consultants Give a Brand a Personality.  The session focused on the growing area of ‘the SocialCEO’ – and how socially connected a CEO is can drive brand and intention throughout an organisation.  Showcasing CEO’s doing it well – eg: Richard Branson – and then getting two CEO’s on stage to provide a grass roots overview as to how they are driving social within their businesses. I was delighted to see that in both cases, they showed tangible positive results to profitability, directly related to their social activity.

Proving the point that if social is done well, driven by strategic and business objectives, has buy in at the top level and is cascaded throughout the entire business – it is mighty powerful.

It was great to finally meet Ollie – as he and I had been tweeting for some time. Ollie had purchased several copies of The Business of Business Social some time ago advising that he made it mandatory for his sales team to read.  It transpires that having read it – it gave Ollie the inspiration to completely reposition their sales proposition to their audiences.

ollie

It was wonderful to receive praise and thanks, not only from Ollie, but also from Dan Dackombe, Sales Director EMEA and Greg Stephenson, Global Head of Solutions Product Marketing – as to what they had taken from the book to help them rethink how they sold their solutions.  Praise indeed.

In fact, at interview level, The Business of Being Social – is the book sales team candidates have to read and then present on. It’s always great to hear stories about how people have been inspired and impacted by the work you do – and so this is really wonderful news – and something that both David and I are immensely proud of.

My favourite keynote of the day was certainly Susie Wolff – Racing Driver, Williams F1 Team member – shared her story about finding her passion for racing at the tender age of 8 and the importance of staying in the moment, being prepared, finding your purpose and dreaming big.

Susie

 

 

 

 

 

 

 

DFWIt was a fabulous day – both enjoyable and useful.  A great event all round – and I couldn’t leave the blog without mentioning the brilliant MC for the day – Deborah Frances-White. A master of ceremonies if ever there was one. She brought all aspects of the day together perfectly, connected with the audience – made everyone feel comfortable and wholly involved. A true star.

As always – any questions tweet me @michellecarvill or email michelle@carvillcreative.co.uk.

 Michelle Carvill, best selling business author, speaker, founder and Director at Carvill – the social media marketing agency. For information about how the team at Carvill can help you – simply get in touch or visit our website for more information.