If you haven’t tuned in already, #mycleverchat is a weekly talk on Twitter about social media. Each week we talk about a specific topic, usually focusing on one platform although this changes from week to week. Below is a list of the highlights from our chat on Wednesday (14/11/12) – the topic this week was ‘social media ROI’, something that is sometimes difficult to measure.
Don’t forget to join us every week on Wednesdays between 1 – 2pm to get involved. If you want to see more of the conversation make sure you check out the hashtag #mycleverchat. We’re always open to suggestions about topics and questions so feel free to comment below to let us know.
Q1: Which metrics do you use to measure social media ROI?
Ok it’s 1pm, let’s get started. Q1: Which metrics do you use to measure social media ROI? #mycleverchat
— mycleveragency (@mycleveragency) November 14, 2012
@mycleveragency all depends on the platform, but the google social tool to track conversions is great. #mycleverchat
— Tim Grimes (@digitim) November 14, 2012
@mycleveragency Usually GA conversion tracking but I think it’s hard to measure the actual ROI of social #mycleverchat
— Liam Foy (@foymania) November 14, 2012
Q2: Does a focus on ROI takeaway from the real objective/value of social media?
Q2: Does a focus on ROI takeaway from the real objective/value of social media? #mycleverchat
— mycleveragency (@mycleveragency) November 14, 2012
@mycleveragency yes to an extent, brands become too reliant on constant results & metrics that are sometimes irrelevant. #mycleverchat
— Tim Grimes (@digitim) November 14, 2012
@mycleveragency #mycleverchat social media budgets usually sit with the wrong people, Ecommerce managers who are more interested in ROI
— Cockles (@cocketman) November 14, 2012
@cocketman do you feel that’s the main problem, the people who are measuring it? #mycleverchat
— mycleveragency (@mycleveragency) November 14, 2012
@mycleveragency definitely, they hear terms like reach and frequency and think “fluff”. They struggle to see non-monetary value#mycleverchat
— Cockles (@cocketman) November 14, 2012
#mycleverchat focus too much on any number and you lose track of the intangible qualities of a relationship
— Andrew Allsop (@AndrewAllsop) November 14, 2012
#mycleverchat and all social has done is allowed us the ability to manage a wider network of relationships.
— Andrew Allsop (@AndrewAllsop) November 14, 2012
Q3: Which social platform delivers the best ROI for your business/clients?
Q3: Which social platform delivers the best ROI for your business/clients? #mycleverchat
— mycleveragency (@mycleveragency) November 14, 2012
@mycleveragency For B2C – Facebook. For B2B – LinkedIn. #mycleverchat
— Liam Shepherd (Lewy) (@LiamSShepherd) November 14, 2012
@liamsshepherd I favour Twitter for B2B if used correctly. LinkedIn is obvious but more competitive #mycleverchat
— Ed Raine (@Tehcobra) November 14, 2012
@liamsshepherd where does Twitter fit in Liam? #mycleverchat
— mycleveragency (@mycleveragency) November 14, 2012
@mycleveragency For B2B: Facebook – HR, spreading company culture. Twitter – thought leadership, LinkedIn – lead generation #mycleverchat
— Liam Shepherd (Lewy) (@LiamSShepherd) November 14, 2012
@liamsshepherd Twitter is the best lead gen network available. But it is tainted by misuse.#mycleverchat
— Ed Raine (@Tehcobra) November 14, 2012
Q4: What do you think should become the standard measurement for social ROI?
Q4: What do you think should become the standard measurement for social ROI? #mycleverchat
— mycleveragency (@mycleveragency) November 14, 2012
@mycleveragency Assisted conversions and measurement of brand searches #mycleverchat
— Cockles (@cocketman) November 14, 2012
@mycleveragency I don’t think it’s as black & white as other marketing activities due to the objectives being far more diverse #mycleverchat
— Liam Shepherd (Lewy) (@LiamSShepherd) November 14, 2012
@liamsshepherd Measure of ROI/KPIs should be set with Aims. Not decided after activity for sure#mycleverchat
— Ed Raine (@Tehcobra) November 14, 2012
@tehcobra Agreed, for some of my clients it is as straight forward as an increase in referral traffic and revenue #mycleverchat
— Liam Shepherd (Lewy) (@LiamSShepherd) November 14, 2012
@tehcobra Although for others it is to get more applicants for a vacancy or increasing positive sentiment about their brand #mycleverchat
— Liam Shepherd (Lewy) (@LiamSShepherd) November 14, 2012
What about some of the newer networks? Instagram touted has having an effect on sales, Tumblr’s picking up steam#mycleverchat
— Andrew Allsop (@AndrewAllsop) November 14, 2012
Q5: Is the inability to tie social media to actual business results the major downfall in the industry?
Q5: Is the inability to tie social media to actual business results the major downfall in the industry? #mycleverchat
— mycleveragency (@mycleveragency) November 14, 2012
@mycleveragency Is there an inability? I’m not sure there is, if the objectives are made clear & agreed upon from the outset #mycleverchat
— Liam Shepherd (Lewy) (@LiamSShepherd) November 14, 2012
@mycleveragency A5 no, its hard w loads of channels. Misleading/misunderstanding has brought the doubt #mycleverchat
— Ed Raine (@Tehcobra) November 14, 2012
@liamsshepherd No so much an inability but how can someone like Ford measure *accurately* ROI. Harder w scale #mycleverchat
— Ed Raine (@Tehcobra) November 14, 2012
@tehcobra But with someone like Ford who perhaps doesn’t take enquiries online then accurately measuring ROI will be an.. #mycleverchat
— Liam Shepherd (Lewy) (@LiamSShepherd) November 14, 2012
Q6: Is it easier to measure social media ROI for the B2B or B2C sector?
Q6: Is it easier to measure social media ROI for the B2B or B2C sector? #mycleverchat
— mycleveragency (@mycleveragency) November 14, 2012
@mycleveragency A6 B2C will likely be shorter term than B2B because AoV usually lower #mycleverchat
— Ed Raine (@Tehcobra) November 14, 2012
@tehcobra @mycleveragency You know it’s times like this I really wish I had more than 140 characters
#mycleverchat
— Liam Shepherd (Lewy) (@LiamSShepherd) November 14, 2012
