In the Hot Seat: How to Measure ROI in Social Media · How does your hotel/hotel group measure ROI...
Transcript of In the Hot Seat: How to Measure ROI in Social Media · How does your hotel/hotel group measure ROI...
In the Hot Seat: How to Measure ROI in Social Media
PRESENTERS: Daniel Edward Craig Josiah Mackenzie @ReviewPro
September 25, 2012
Founded in October 2008, ReviewPro has thousands of hotel clients in more than 70 countries around the world.
2
Some background…
3
Introducing our presenters
Daniel Craig • Former hotel general manager • Author, consultant & leading voice in social
media and reputation management in the hotel industry
• Industry Advisor, Engagement with ReviewPro • @dcraig on Twitter
Josiah Mackenzie • Founder of Hotel Marketing Strategies & Tnooz
node • Works with hotel executives to increase sales by
providing better service through social channels • Director of business development at ReviewPro • @HmarketingHelp on Twitter
4
Questions and comments
mention @ReviewPro
1. Why Is It Important to Measure ROI?
2. Setting Objectives
3. Measuring ROI
4. Social Analytics
5. Website Analytics
6. Review Analytics
7. Other Important Benefits
8. Q+A
5
Overview and Agenda
• To understand the impact of social media on your hotels
• To guide planning and strategy decisions
• To convince the executive team of the resources you need
• To make smart choices about prioritizing time and resources
• To get the buy-in of everyone participating
6
1. Why is it important to measure ROI?
2. Setting Objectives
1. Identify objectives: driving revenue, building awareness, increasing guest satisfaction, managing reputation
2. Create a way to measure progress towards these objectives
3. Understand which key performance indicators mean something – and which are unhelpful
4. Develop a custom ROI report for your organization based on the points above
7
How does your hotel/hotel group measure ROI in social media?
By reach: number of followers, likes, etc
By engagement: number of retweets, shares, comments
By revenue: leads, conversions, bookings
By reputation: reviews and ratings on reviews sites and OTAs
We don’t currently measure ROI in social media
8
Poll #1 – Results
3. Measuring ROI in social media
• eConsultancy-Adobe survey: Only 12% of companies able to track direct revenue impact of social media
• Three main responsibilities of social media managers: community management, content development and analytics
• “Vanity Metrics” – what do they tell us?
• Measure: reach, engagement, advocacy and revenue
• Three types of metrics: social, website and review
9
Brand Awareness and Revenue
10
4. Social Analytics
11
Mitchell Fawcett Marketing Communications
Manager O'Neill Hotels & Resorts
www.oneillhotels.com @MitchellFawcett
Facebook Insights
12
Key Metrics to Track – Facebook
1. “Talking About”
2. Reach
3. Virality
4. Check-Ins (“Were Here”)
5. Demographics
6. Page Views & Unique Visitors
13
Conversation Calendar
14
15
1. ReTweets and @Mentions
2. Mentions by Influencer
3. Photos
4. Guest Sentiment
? 16
Twitter Analytics Example
How do our guests feel about wi-fi charges?
Social Analytics Report
17
Facebook: - Insights (fan growth, engagement, reach,
check-ins, page views and unique visitors) - Most Popular Post - Revenue - Website Traffic - Guest Feedback Twitter: - New Followers - ReTweets & @Mentions - Most Popular Tweet - Revenue - Website Traffic - Guest Feedback
Other Social Platforms
18
• Google+: followers, pluses, comments, shares
• YouTube: subscribers, friends, views, likes, comments, shares
• Foursquare: likes, tips, visitors, check-ins, shares, photos, redemptions
• Pinterest: followers, likes, comments, re-pins, click-throughs
• Blogs: subscribers, sources, keywords, visitors, length of visit, comments, post shares
5. Website Analytics
19
Martin Soler Marketing Director
www.wihphotel.com @wihphotel
Google Analytics
Key Social Metrics to Track on Your Website
1. Traffic Sources
2. Social Visitors Flow
3. Pages
4. Social Plug-ins
5. Conversions
6. Conversion Paths
20
Social Traffic Sources
21
Social Visitors Flow
22
Booking path: Social
23
Booking Path: Shopper
24
Conversions
25
Offline Analytics
26
How did you find the hotel?
22.9%
20.7%
18.2%
17.0%
12.3%
3.1%
2.0%
1.6%
1.5%
0.5%
0.2%
Friends and Family
OTAs
TripAdvisor
Other
Repeat Guest
Travel Agent
Magazine
Blog
Guide
6. Review Analytics
• Key performance indicators – Overall guest satisfaction in online reviews – Volume of online reviews – Position of hotels on review sites in each regional market – Ranking of hotels among their competitive set
• Review analytics for revenue management – Maximizing ADR – Optimizing distribution – Increasing conversion rates
27
Review Analytics: Overall Satisfaction
28
Review Analytics: City Ranking
29
Review Analytics: Comp Set Ranking
30
Note: this data is a sample for demonstration purposes only
Review Analytics: Optimize Distribution
31
Review Analytics: Increase Conversions
32
7. Other Important Benefits
1. SEO influence on search rankings and visibility
2. Psychographics: targeted marketing
3. Direct bookings, relationships and loyalty
4. Cost savings vs. paid media: advertising, print, tradeshows
5. Real-time feedback Careful not to exaggerate the role of social media:
• Paid advertising (email, CPC, OTAs) drives more direct bookings • People still book by traditional channels • Social media amplifies paid media, drives traffic to these channels
33
Key takeaways
1. Use ROI metrics to guide strategy, obtain resources, and create buy-in across the organization
2. Measure ROI based on business objectives
3. Create an ROI report to track key social, website and review metrics
4. Look beyond “vanity metrics” to reach, engagement and
conversions
5. Consider additional benefits like cost savings and efficiencies when assessing returns on social activities
34
35
Questions & Discussion
More answers @ReviewPro
www.ReviewPro.com/demo