A framework for measuring social media activity

A New Framework For Measuring Social Media Activity by Richard Pentin, Senior Planner,TMW on behalf of the IAB Social Media Council

overview 1. Why do we need a framework? 2. The iab measurement framework 3. Guidelines to defining KPIs 4. Putting theory into practice

1. Why do we need a framework?

why do we need a framework? EFFICACY ACCOUNTABILITY INTERPRETATION INDUSTRY COMPANY SPECIFIC WHY? SPECIFIC REASONS REASONS STANDARDISATION OPTIMISATION BENCHMARKING

2. Introducing the iab framework

the iab framework intent awareness benchmark appreciation action advocacy Establish intentions and Define core KPI metrics Compare benchmarks objectives in order to by social media with other SM activity, define which KPIs are platform (soft metrics & channels, industry most pertinent hard financials) averages

intent Without clearly defined intent objectives we have absolutely no criteria on which to evaluate success Establish intentions and objectives in order to define which KPIs are most pertinent

intent To build brand awareness? To generate buzz, advocacy or WOM? To generate brand engagement? To shift consumer perceptions? Your intent To influence key opinion formers? should dictate To generate leads or build prospect base? which KPIs are To stimulate dialogue or relationship with prospects most pertinent To encourage participation for social event? To manage brand reputation? To divert a PR crisis? To engender customer loyalty? To uncover customer or product insights? To enhance customer service?

intent But the trick here is to collate your KPIs into more meaningful groups in order to tell a bigger story…

The 4 As awareness appreciation Awareness of social Engagement and media platform appreciation of social awareness media platform appreciation action advocacy action advocacy Define and measure Solicits a response or Creates WOM or core KPI metrics by influences purchase stimulates advocacy social media platform behaviour in some way (soft metrics & hard financials) APPRECIATION KPIs can be assigned to one or more of these 4 As to tell a bigger story

The 4 As The importance you place on the 4 As will depend on your original intent INTENT 1 INTENT 2 WEIGHTING OF METRICS Awarenes s Appreciation Action Advocacy Activity designed to generate buzz and Activity designed to generate leads WOM might focus more on awareness, may be much more weighted appreciation and advocacy metrics towards action metrics

benchmark Without comparative benchmark benchmarking most metrics are completely meaningless Compare benchmarks with other SM activity, channels, industry averages

What is this? An atom, a ping pong ball or a beach ball?

The diameter of Uranus is 51,118 km Its distance from the sun is 19 AU Uranus’ approximate density is 1.27 grams per cubic Now for some centimeter interesting but fairly meaningless URANUS! Atmosphere: 82.5% molecular metrics hydrogen, 15.2% helium and 2.3% methane Uranus travels at an average speed of 15,290 miles per hour The mass of Uranus is about 8,684.9. Average temperature -350 degrees.

Metrics only have real meaning when compared to something else

benchmark So, how does this social media platform compare to other social media platforms used by your brand? Only compare with other platforms which share similar objectives

benchmark How does this EVENT social media ADVERTISING MARKETING DIRECT MARKETING activity compare to other marketing channels? PUBLIC E- RELATIONS MARKETING MARKETING COMPARATIVE CHANNEL BENCHMARKIN G Only compare with other channels which share similar objectives, otherwise it’s not SALES comparing like-for-like PROMOTION SOCIAL CRM CUSTOMER MEDIA BASE

benchmark How does this social media activity compare to your competitors? Only compare your platform to competitors where they share similar objectives

benchmark How does it compare to historical data? Social Media ? Metric Has this activity improved since last measurement Time period?

3. Guidelines to help define KPIs

defining KPIs • 3 parameters for defining KPIs • by social media platform (e.g. blog, microblogging, community forum, social network, fanpage, video sharing site, branded channel widget/application etc) • by 4As • by soft metrics AND hard financials

defining hard financials awareness appreciation Cost per Impression Cost per Engagement (CPI) (CPE) awareness appreciation action advocacy action advocacy Define and measure Cost per Lead Cost per Referral core KPI metrics by (CPL) (CPR) social media platform (soft metrics & hard financials) APPRECIATION

defining KPIs • The following tables are intended to outline some of the KPIs at your disposal. • It is only intended to be a helpful guide rather than an definitive list • Select the KPIs most pertinent to your objectives or feel free to add KPIs of your own!

social network KPIs i a b AWARENESS APPRECIATION ACTION ADVOCACY SOCIAL MEDIA INTENT Brand engagement Solicits a response or BENCHMARKS Awareness of social Creates word of mouth and PLATFORM and appreciation of influences purchase media platform stimulates advocacy social media platform behaviour in some way Search rankings # of fans Website referrals # of bookmarks Comparative stats from: Referrals from brand - similar social media website # of subscribers Call centre enquiries # of status updates platform/similar historical Unique visitors # of comments Brochure requests Share This metrics campaigns Reach # of discussion threads Coupons downloaded - other social media SOFT METRICS Impressions Interaction rates Handraiser registrations platforms # of active users - non social media platforms Poll votes (e.g. direct mail/banner Page views advertising) Videos viewed - competitor activity Return visits - non-sector specific/best in Social network Dwell time class (e.g. community forum, # of competition entries fan page) UGC uploads/submissions Cost per Impression Cost per Engagement Cost per Lead Cost per Referral (CPI) (CPE) (CPL) (CPR) Cost per unique visitor Incremental sales FINANCIAL Cost per incremental sale Frequency of purchase Average purchase value Reduction in call centre costs Retention rates

blog KPIs that other metrics may be more appropriate depending on your intent for such act i a b AWARENESS APPRECIATION ACTION ADVOCACY SOCIAL MEDIA INTENT Brand engagement Solicits a response or BENCHMARKS Awareness of social Creates word of mouth and PLATFORM and appreciation of influences purchase media platform stimulates advocacy social media platform behaviour in some way Website referrals Comparative stats from: # of tweets/retweets per Unique visitors RSS subscribers (onward clicks) post - similar social media platform/similar historical SOFT METRICS Email subscribers Impressions (to blog posts) Brochure requests Digg/Stumbleupon/Reddit campaigns Search rankings Comment subscribers Handraiser registrations Share this metrics - other social media Referrals from brand Inbound links, platforms website trackbacks, pingbacks Call centre enquiries No. of inbound links - non social media platforms Page views (e.g. direct mail/banner Most popular posts advertising) # of comments - competitor activity Blog - non-sector specific/best in class Cost per Impression Cost per Engagement Cost per Lead Cost per Referral FINANCIAL (CPI) (CPE) (CPL) (CPR) Cost per unique visitor Cost per subscriber Incremental sales Cost per page view Cost per incremental sale Frequency of purchase Average purchase value Retention rates

microblogging KPIs i a b AWARENESS APPRECIATION ACTION ADVOCACY SOCIAL MEDIA INTENT Brand engagement Solicits a response or BENCHMARKS Awareness of social Creates word of mouth and PLATFORM and appreciation of influences purchase media platform stimulates advocacy social media platform behaviour in some way Impressions # of followers Website referrals # of retweets Comparative stats from: Search rankings # of lists Call centre enquiries influence ranking - similar social media Referrals from brand platform/similar historical website # of @replies Brochure requests campaigns SOFT # of DMs Handraiser registrations - other social media % Visit Rate platforms (% of followers who click - non social media platforms on a link) (e.g. direct mail/banner Microblogging Anecdotal sentiment advertising) Cost per Impression Cost per Engagement Cost per Lead Cost per Referral - competitor activity (CPI) (CPE) (CPL) (CPR) - non-sector specific/best in Cost per follower Incremental sales class FINANCIAL Cost per incremental sale Frequency of purchase Reduction in call center costs Average purchase value

blogger outreach KPIs i a b AWARENESS APPRECIATION ACTION ADVOCACY SOCIAL MEDIA INTENT Brand engagement Solicits a response or BENCHMARKS Awareness of social Creates word of mouth and PLATFORM and appreciation of influences purchase media platform stimulates advocacy social media platform behaviour in some way # of bloggers attending Comparative stats from: # of blog posts event Website referrals Digg/Stumbleupon/Reddit - similar social media SOFT # of tweets Sentiment analysis Call centre enquiries # of tweets/retweets platform/similar historical # of responses # of comments Brochure requests campaigns Search rankings Sentiment analysis Handraiser registrations - other social media platforms Blogger outreach Cost per Impression Cost per Engagement Cost per Lead Cost per Referral - non social media platforms (e.g. FINANCIAL (CPI) (CPE) (CPL) (CPR) direct mail/banner advertising) Incremental sales - competitor activity Cost per incremental sale - non-sector specific/best in class Frequency of purchase Average purchase value

app/widget KPIs i a b AWARENESS APPRECIATION ACTION ADVOCACY SOCIAL MEDIA INTENT Brand engagement Solicits a response or BENCHMARKS Awareness of social Creates word of mouth and PLATFORM and appreciation of influences purchase media platform stimulates advocacy social media platform behaviour in some way Search rankings # of downloads/install Website referrals Send to a friend Comparative stats from: Apps ranking Interaction rates Call centre enquiries # of status updates - similar social media Press coverage (column platform/similar historical inches, articles, blog campaigns SOFT METRICS Repeat visits Brochure requests posts) - other social media Usage lifecycle Handraiser registrations platforms # of active users - non social media platforms Poll votes (e.g. direct mail/banner Page views advertising) Application/widget Videos viewed - competitor activity (eg facebook/ iphone/ Dwell time - non-sector specific/best in desktop app) # of competition entries class UGC uploads/submissions Cost per Impression Cost per Engagement Cost per Lead Cost per Referral FINANCIAL (CPI) (CPE) (CPL) (CPR) Cost per install Cost per lead Cost per engagement Incremental sales Cost per incremental sale Frequency of purchase Average purchase value

sharing KPIs i a b AWARENESS APPRECIATION ACTION ADVOCACY SOCIAL MEDIA INTENT Brand engagement Solicits a response or BENCHMARKS Awareness of social Creates word of mouth and PLATFORM and appreciation of influences purchase media platform stimulates advocacy social media platform behaviour in some way Impressions # of plays Website referrals # of tweets/retweets Comparative stats from: # of blog posts/ - similar social media SOFT METRICS online articles Play duration Call centre enquiries Digg/Stumbleupon/Reddit platform/similar historical Search rankings # of comments Brochure requests # of emails campaigns - other social media Press coverage (column platforms inches, articles) # of bookmarks Handraiser registrations # of video installs/embeds - non social media platforms UGC (e.g. direct mail/banner Sharing (video/photos) uploads/submissions Memes/spin offs advertising) customer rankings - competitor activity - non-sector specific/best in Cost per Impression Cost per Engagement Cost per Lead Cost per Referral class FINANCIAL (CPI) (CPE) (CPL) (CPR) Cost per play Incremental sales Cost per incremental sale Frequency of purchase Average purchase value

SM advertising KPIs i a b AWARENESS APPRECIATION ACTION ADVOCACY SOCIAL MEDIA INTENT Brand engagement Solicits a response or BENCHMARKS Awareness of social Creates word of mouth and PLATFORM and appreciation of influences purchase media platform stimulates advocacy social media platform behaviour in some way CTRs Banner interactions Website referrals Comparative stats from: SOFT Call centre enquiries - similar social media Brochure requests platform/similar historical campaigns Cost per Impression Cost per Engagement Cost per Lead Cost per Referral - other social media platforms Social media advertising FINANCIAL (CPI) (CPE) (CPL) (CPR) - non social media platforms (e.g. Incremental sales direct mail/banner advertising) Cost per incremental sale - competitor activity Frequency of purchase - non-sector specific/best in class Average purchase value

podcasting KPIs i a b AWARENESS APPRECIATION ACTION ADVOCACY SOCIAL MEDIA INTENT Brand engagement Solicits a response or BENCHMARKS Awareness of social Creates word of mouth and PLATFORM and appreciation of influences purchase media platform stimulates advocacy social media platform behaviour in some way Comparative stats from: unique visitors # of podcast subscribers Website referrals # of embeds - similar social media SOFT impressions Brochure requests Share this metrics platform/similar historical Handraiser registrations campaigns - other social media platforms Podcasting Cost per Impression Cost per Engagement Cost per Lead Cost per Referral - non social media platforms (e.g. FINANCIAL (CPI) (CPE) (CPL) (CPR) direct mail/banner advertising) Incremental sales - competitor activity Cost per incremental sale - non-sector specific/best in class Frequency of purchase Average purchase value

3. Putting theory into practice

Infiniti Europe case study

intent Reach out and empower intent key opinion formers to talk passionately about Infiniti coming to Europe, Establish intentions and so that our prospects objectives in order to get to hear about us define which KPIs are most pertinent

blogger outreach & video seeding activity 4 high impact CGI 40” films were shared with key influential bloggers via SMR to introduce the range and also uploaded on numerous video sharing sites across Europe

the 4 As This content 10% was not 20% designed to be particularly viral 20% Awareness so advocacy Appreciation metrics not as Action important as Advocacy appreciation and action. 50%

the 4 As awareness appreciation # of blog posts # of plays Search rankings # of comments awareness Cost per engagement appreciation (CPE) action advocacy action advocacy CTRs # of emails Define and measure core KPI metrics by Website referrals # of embeds social media platform Cost per lead (soft metrics and (CPL) hard financials)

awareness # of blog posts awareness 587 bloggers (key opinion formers) reported on the story or published content across G5 markets

awareness Search rankings awareness Assets rank in top 3 search results for vehicle searches in video sharing sites

appreciation # of plays appreciation SOFT METRICS HARD FINANCIALS Video Blogger Total Territory sharing sites outreach Plays 52% of views completely organic (free media) France 42,197 71,037 113,234 Germany 53,097 72,453 125,550 Only 0.11€ CPE (Cost per Engagement) Italy 43,844 70,288 114,132 Spain 281,319 71,251 352,570 For every €100 invested in campaign it generated UK 42,606 144,922 187,528 848 plays TOTAL 463,063 429,951 893,014

action CTRs action SOFT METRICS HARD FINANCIALS CTR (%) CTR (total) Territory Blogger Outreach Blogger outreach only only France 7.9% 5,614 4€ CPL (Cost per Lead) Germany 9.1% 6,602 Italy 8.5% 6,003 For every €100 invested in campaign it generated Spain 4.4% 3,099 24 web referrals UK 1.6% 2,240 TOTAL 5.5% 23,558

benchmark • CTR of nearly 2x action appreciation advocacy appreciation industry average suggests content was very engaging and influenced behaviour • Bookmarks/ downloads slightly lower than average • Lower than average advocacy metrics reflect the modest viral appeal of the clips (as we expected) Industry average

Thank you Richard Pentin, Senior Planner, TMW rpentin@tmw.co.uk @ifonlyblog

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A framework for measuring social media activity

by Richard Pentin on May 17, 2010

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A framework for measuring social media activity — Presentation Transcript