FIVE MEDIAMEASUREMENTCHALLENGESHow smart communicators can leveragemedia data to drivecompetitive advantage
INTRODUCTION+ 2 Five Social Media Insight Challenges "The only man who behaved sensibly was my tailor; he took my measurement anew every time he saw me, while all the rest went on with their old measurements and expected them to fit me." George Bernard Shaw
THE CHALLENGESOME QUESTIONS ONOUR CLIENTS‟ MIND• When it comes to brand and reputation, how can I „measure what matters‟?• With so much being said in the media, how do I know what KNOWING IS stakeholders really feel about my brand and products?• How effective am I in communicating BUILDING my messages?• Who are the most influential voices in A BETTER my communities of interest and what are their interests and motivations?• Which of those should I seek to BUSINESS influence and how could I go about it?• How does my performance compare to competitors?• How can I as an organisation or individual participate meaningfully in social media?• What does a best in class approach look like?
Our five challenges for discussion today:1. Measure what matters2. Understanding accuracy3. Tracking trends4. Insight beyond buzz5. Blending other data But what is missing?
Understand your social media goals and objectivespecificeasurablettainableealistic/relevantimely 5
INSIGHT CHALLENGE #1+ 6 Measure what matters YOU CAN TRACK A WEALTH OF METRICS WITH MONITORING TOOLS… BUT WHICH ONES ARE IMPORTANT TO YOUR BUSINESS? #1 Easy-to-capture metrics are all about outputs – activity volume, followers, sentiment – but KPIs tend to be sales, leads, conversions, recommendations, engagement… reflecting business KPIs in social media data is a complex but critical task #2 Monitoring tools don‟t track all social media… you need tools to track forums, Twitter, Facebook, YouTube and podcasts that social media SaaS can‟t give you – start by mapping what matters, and choose tools that can deliver it #3 “Influence” – don‟t believe the hype… the idea that a small number of social media influencers are the key to social media success is seductive, but unsubstantiated – articulate and measure what „success‟ means to your company THERE IS NO MAGIC BULLET IN SOCIAL MEDIA MEASUREMENT. TOOLS HELP COLLECT DATA, BUT INSIGHT COMES FROM HUMANS.
INSIGHT CHALLENGE #2+ 7 Understanding accuracy “Text analytics is like a dancing bear. You don’t care how good it is, you’re just amazed it works at all” (att: @kurtis_williams) SOCIAL MEDIA MONITORING TOOLS PROVIDE LOTS OF TECHNOLOGY OPTIONS – BUT ARE THEY EFFECTIVE? #1 Sentiment analysis – out of lab conditions it‟s little better than a tossed coin… it is known to struggle with sarcasm, but also fails in other ways – it has its uses, but don‟t rely on it for serious opinion research #2 Social media software is rarely if ever an effective discovery tool… coverage is rarely comprehensive and searched sources often bias toward interests of previous clients – you will always need a separate process to discover sources #3 Country filters work in unexpected ways, and deliver unrealistic results… site metadata, IP addresses and physical server locations drive country filters, don‟t rely on them UNDERSTAND HOW „LABOUR SAVING‟ TECHNOLOGIES WORK, AND VALIDATE THEIR RESULTS
INSIGHT CHALLENGE #3+ 8 Tracking trends THE SOCIAL MEDIA UNIVERSE IS IN CONSTANT FLUX – YOU MUST UNDERSTAND “REAL” TRENDS: EARNED, NOT ORGANIC GROWTH #1 The universe is growing, but by how much?… tracking mindshare in social media is a classic challenge – data from search firms and aggregators provides the answers #2 People are increasingly comfortable expressing themselves in social media… so an increase in discussion about your brand could be an organic trend that you need to model in to your findings #3 New ideas; new sources; new technologies; new metrics… sources like Friendster reside in the „where are they now?‟ file, as new ones like Quora rise to prominence. The market is constantly changing, providing new insight opportunities – look outward as well as inward, and be agile and responsive TO MEASURE SOCIAL, YOU NEED TO KNOW SOCIAL. ENSURE THAT YOU HAVE ACCESS TO DOMAIN EXPERTISE AND ENTHUSIASM TO HELP SCOPE AND DEVELOP INSIGHT PROGRAMMES.
INSIGHT CHALLENGE #4+ 9 Insight beyond buzz COMPARED TO PRESS AND BROADCAST CHANNELS, SOCIAL MEDIA IS THE WILD WEST – COMMENTATOR MOTIVATIONS AND INTENTIONS ARE UNCERTAIN, BUZZ ALONE TELLS YOU VERY LITTLE THAT IS USEFUL #1 Complement quantitative “buzz monitoring” with qualitative research… qualitative research disciplines provide critical context for buzz monitoring and measurement #2 Track what people do, as well as what they say… verbatim comment is an important source of insight, but not the only one – pay attention to non-verbal endorsements (likes and links); search trends and frequency of engagement #3 Break down research silos… social media monitoring and analytics complements other research lines, including web analytics, opinion research and media content analysis – they are all parts of one bigger picture BUZZ MONITORING IS NOT THE FINISHED PRODUCT, BUT WITH CARE AND ATTENTION IT IS A VALUABLE SOURCE OF INSIGHT.
INSIGHT CHALLENGE #5+ 10 Blending other data IN SOCIAL MEDIA, BRAND ENGAGEMENT AND INSIGHT ARE TWO SIDES OF THE SAME COIN. #1 Exploit insight opportunities that comms activity creates… engagement channels like Facebook include comprehensive and valuable analytics dashboards – be sure you can access and use them #2 Maintain ethical standards… the etiquette of online monitoring and engagement is not set in stone, but organisations have suffered reputational damage from borderline activity. Monitor, communicate and live your standards #3 Consider your own engagement… the social media insight opportunity isn‟t only about unprompted buzz. Curated engagements like MROCs are an interesting insight prospect LOOK FOR OPPORTUNITIES TO CREATE VALUE FROM SOCIAL MEDIA RESEARCH FOR OTHER PARTS OF THE ENTERPRISE, BUT ALWAYS KEEP REPUTATION RISK IN MIND.
OUR PROCESSWE OFFER “TECHNOLOGYASSISTED HUMANANALYTICS” We combine the best features of automated text analysis with the benefits of human input to enable complex analysis of a high volume of media items time and cost effectively