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The ROI of Social Media

The ROI of Social Media

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Published by DorianBenkoil
Understanding how to really understand the return on your investment in social media. From TeemingMedia.com
Understanding how to really understand the return on your investment in social media. From TeemingMedia.com

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Published by: DorianBenkoil on May 14, 2011
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Social Media ROI

Dorian Benkoil May 14, 2011 @dbenk

Saturday, May 14, 2011

What We’ll Cover
From a Publisher’s Perspective ➡ROI: What does it mean? ➡Benefits and Costs - Revenue - Doing the Math - Less direct benefits ➡Pointers in making it better

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ROI?
• Does the benefit justify the cost? Monitoring • Less obvious Benefits
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Calculating Understanding

• Pointers • Real-World Examples
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Costs What are they?

$
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Tools

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Traffic

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The Clickthrough

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The Measurement

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Breaking it Down

Facebook: 32,979 x 1.96 = 64,329 pageviews Twitter: 2,503 x 2.13 = 5,331 pageviews
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What’s a Pageview Worth? • RPM Placements per page # Ad
➡ ➡ ➡ ➡

CPM per placement Total placements Other revenue - eCommerce - events - etc. Average Sell Through Per Placement (percentage)

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$20 CPM $25 CPM $5 eCPM $50 total X 80% of pages X100% sellthrough $40 average RPM

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The Value
Every 1,000 pageviews = $40
Facebook 64,329 pageviews / 1,000 = 64.329 64.329 * $40 = $2,585.55 Twitter 5,331 pageviews / 1,000 = 5.331 5.331 * $40 = $213.26 Direct 169,806 Pageviews X 17,643 pageviews / 1,000 = 17.643 17.643 * $40 = $705.71 x 50% = 17,643 pageviews

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The Total

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The Profit or Loss
Expenses Staff 60 hours * $25/hour = $1,500 Tools = $100 $1,600 Profit on social media:

$3,504 - $1,600 =$1,905

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Really?

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What’s Working....

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Facebook’s 40%

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MediaShift’s share 3,482 / 686,662 = .51% Let’s assume 10x = 5.51%

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Without PBS Facebook

• $428.35 - $1,600 = ($1,171.65)
That’s loss of $1,171.65 on a direct clickthrough basis.
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What’s Wrong with That Picture?

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Lifetime Value
• 42% Repeat Visits • 4,185*.42 = 1,758
More pageviews than counted above.

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How Else to Get Traffic?
• Advertising - likely costs even more • SEO - there are limits • Sure, but how much of that traffic is worthwhile • Guerilla marketing and PR

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Does Staff Really Cost That Much?
Reporters, Editors, Executives, others integrate it into their workdays. Staff costs may be minimal.

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Other Benefits
• • • • • • • •
SEO Others help: Tweet, Retweet It helps your “brand” You have to be there. Everyone else is. It’s great CRM
➡ ➡ ➡

You can monetize it It’s another way to get information out It’s a great information gathering tool
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Outreach Understanding Develop Community - links to others

Reporting - tips, trends, info (every reporter needs it) Who’s reading and how What’s working and not? Other social media
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How to Maximize Them

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Information - Twitter
• Bit.ly http://to.pbs.org/jE0SEo+ • Twitter Counter

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Information - Facebook

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It Can Be Automated
• “Share This” • Social Oomph • Auto Tweeter • Within Facebook • Measured Voice • Social Flow • Tweetdeck plugins • Hootsuite • Co-Tweet • Radian6
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The Network Effect
It’s Additive Over Time If you get a percentage of followers and fans who interact with you clickthrough when you Tweet a link, the absolute number of clickthroughs will grow over time. Your effectiveness per Tweet or Facebook post increases as your cost stays constant. Revenue rises as expense stays constant.

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Tips & Force Multipliers
Learn what works
➡ ➡ ➡ ➡ ➡ ➡ ➡ ➡ ➡ ➡ ➡ ➡ ➡ ➡ ➡ ➡ ➡ ➡ ➡ ➡

• • •

Wording - headlines? More clever? Quotations? Controversy? Time of day Spacing Your own Bit.ly handle Volume Twitter vs. Facebook Other social media automation - but not spam bookmarklets times of day language calling out different aspects of story Add value - tips, links Have personality Show appreciation Engender trust and gratitude Learn the lingo and customs Let people know when you Tweet something they did “@” them Get your own Bit.ly handle? Web analytics tags?
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Technology Repeats

Add to conversation. Don’t just push yours out.

More advanced

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Then Watch the ROI Grow

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“Attract, Engage, Activate”
Training, Strategy and Social Media Solutions For Publishers and Brands Dorian Benkoil @dbenk Dorian@TeemingMedia.com 646/368-1000

Saturday, May 14, 2011

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