Property of Noble Studios
Social Media Analytics
Instructor: Chad Hallert
Property of Noble Studios
Social Media ROI?
2
Source: blog.talkingidentity.com
Property of Noble Studios
Social Media ROI?
3
Source: youtube.com/watch?v=2__bvdwJgaM
Property of Noble Studios
“You can’t measure social media.”
The Myth
4
The same analytics principles apply to measuring
so...
Property of Noble Studios
“Don’t measure what you can, measure what you should.”
- Philip Sheldrake
5
Property of Noble Studios
Tonight’s Class
6
9 The Analytics Process
18 “Vanity” Social Metrics
23 A New Framework
29 Metri...
Property of Noble Studios
What We’re Really Asking
7
Source: united-academics.org
Property of Noble Studios
What Most Businesses Track
8
Property of Noble Studios
The Analytics Process
9
Property of Noble Studios
Metric What does it mean?
Sessions Visits to your site
Users People visiting your site
Traffic S...
Property of Noble Studios
The Lean Analytics Cycle
11
Source: kaushik.net
Property of Noble Studios
The Lean Analytics Cycle
12
Metric
Hypothesis
Experiment
Act
Property of Noble Studios
Step 1: Figure out what to improve.
• Perhaps it’s an increase in your conversion rate;
• Or a h...
Property of Noble Studios
Step 2: Form a hypothesis.
• Creating a marketing campaign
• Redesigning an application
• Changi...
Property of Noble Studios
The Working Hypothesis
People refer to a trial solution to a problem as a hypothesis,
often call...
Property of Noble Studios
Step 3: Create the experiment.
• First: Who is the target audience?
• Second: What do you want t...
Property of Noble Studios
Step 4: Measure and decide what to do.
• If the experiment was a success, you’re a hero.
• If th...
Property of Noble Studios
“Vanity” Social Metrics
18
“If real metrics are things that show you whether or not you’re succe...
Property of Noble Studios
Vanity Metrics
19
Source: britthompson.com
Property of Noble Studios
• Focus only on part of the funnel (generally top)
• Glorify quantity not quality
• Don’t correl...
Property of Noble Studios
• Fans/Likes
• Followers
• Connections
• Reach
• Visits/Sessions
• Pageviews
Note: This data can...
Property of Noble Studios
ROE
• Return on Engagement
• Return on Experience
ROA
• Return on Attention
Totally Useless
22
Property of Noble Studios
A New Framework
23
Property of Noble Studios
Start with Your Goals
24
Property of Noble Studios
Metrics that Matter
25
Activity
Reach
Engagement
Acquisition
Conversion
Property of Noble Studios
KPIs vs. Diagnostic Metrics
26
Source: http://www.slideshare.net/socialogilvy
Property of Noble Studios
KPIs vs. Diagnostic Metrics
27
Source: http://www.slideshare.net/socialogilvy
Property of Noble Studios
Get Ready…
28
Source: diylol.com
Property of Noble Studios
Metrics That Matter
29
Property of Noble Studios
Post Metrics
• Post Rate
• Post Type Percentage
• Post Topic Percentage
Response Metrics
• Respo...
Property of Noble Studios
Record all that you do associated with inbound marketing so that you’re able to
correlate it wit...
Property of Noble Studios
Customer Service Savings
Cost to solve a customer issue via traditional channels
- Cost to solve...
Property of Noble Studios
• Facebook: Weekly total reach or “saw this post”
• Twitter: Total followers + total followers o...
Property of Noble Studios
Audience Growth Rate
• Facebook: New fans / total fans
• Twitter: New followers / total follower...
Property of Noble Studios
Brand Awareness
• Brand mentions
• Sentiment
Share of Voice (SOV)
• Your brand mentions / total ...
Property of Noble Studios
Applause Rate
• Facebook: Total number of likes / total posts
• Twitter: Total number of favorit...
Property of Noble Studios
Amplification Rate
• Facebook: Total number of shares / total posts
• Twitter: Total number of s...
Property of Noble Studios
Engagement Rate
• Facebook: People talking about this / total fans
• Twitter: Favorites + mentio...
Property of Noble Studios
Site Traffic
• Social visits
• Percentage of total visits
Acquisition
39
Property of Noble Studios
Acquisition
40
Property of Noble Studios
Acquisition
41
Property of Noble Studios
What are they up to?
• Avg. session duration
• User frequency
• Pages per visit
• Bounce rate
Ac...
Property of Noble Studios
Conversions = Goals
• Duration goals: Spending more than 3 minutes on the site
• Pages/session g...
Property of Noble Studios
A couple good reads
Starting goals:
http://www.searchenginejournal.com/a-beginners-guide-to-conv...
Property of Noble Studios
Conversion
45
Property of Noble Studios
Conversion - Attribution
46
Property of Noble Studios
Conversion - Attribution
47
Property of Noble Studios
Conversion – Social Value
48
Property of Noble Studios
Conversion – Attribution
49
Property of Noble Studios
Conversion – Multi Touch
50
Property of Noble Studios
Recap
51
Property of Noble Studios
1. Start with your business objectives
2. Define and setup goals
3. Eliminate or reduce the nois...
Property of Noble Studios
50 W. Liberty St., Ste. 800, Reno, NV 89501 | 775.883.6000 | noblestudios.com
Social Media Analy...
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Social Media Analytics

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Noble Studios Digital Strategy Director, Chad Hallert taught at the University of Nevada, Reno about social media analytics and the importance of measurement, optimization and ROI.

Published in: Social Media, Technology, Business
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Social Media Analytics

  1. 1. Property of Noble Studios Social Media Analytics Instructor: Chad Hallert
  2. 2. Property of Noble Studios Social Media ROI? 2 Source: blog.talkingidentity.com
  3. 3. Property of Noble Studios Social Media ROI? 3 Source: youtube.com/watch?v=2__bvdwJgaM
  4. 4. Property of Noble Studios “You can’t measure social media.” The Myth 4 The same analytics principles apply to measuring social media. But… it does take some additional effort. The Truth
  5. 5. Property of Noble Studios “Don’t measure what you can, measure what you should.” - Philip Sheldrake 5
  6. 6. Property of Noble Studios Tonight’s Class 6 9 The Analytics Process 18 “Vanity” Social Metrics 23 A New Framework 29 Metrics That Matter 51 Recap
  7. 7. Property of Noble Studios What We’re Really Asking 7 Source: united-academics.org
  8. 8. Property of Noble Studios What Most Businesses Track 8
  9. 9. Property of Noble Studios The Analytics Process 9
  10. 10. Property of Noble Studios Metric What does it mean? Sessions Visits to your site Users People visiting your site Traffic Sources How they got there Bounce Rate Did they hate it? Avg. Session Duration / Time on Page How engaged were they? Conversions At least one Conversion Rate As a % of sessions The Starting Point 10
  11. 11. Property of Noble Studios The Lean Analytics Cycle 11 Source: kaushik.net
  12. 12. Property of Noble Studios The Lean Analytics Cycle 12 Metric Hypothesis Experiment Act
  13. 13. Property of Noble Studios Step 1: Figure out what to improve. • Perhaps it’s an increase in your conversion rate; • Or a higher number of visitors who sign up; • Or a greater number of people who share content with one another; • Or a lower monthly churn rate for users of your application; • Maybe it’s even something as simple as getting more people into your restaurant The Lean Analytics Cycle 13
  14. 14. Property of Noble Studios Step 2: Form a hypothesis. • Creating a marketing campaign • Redesigning an application • Changing the way you price things • Building shipping costs into a purchase • Changing how you appeal to people • Using a different platform • Changing the wording on buttons • Testing out a new feature The Lean Analytics Cycle 14
  15. 15. Property of Noble Studios The Working Hypothesis People refer to a trial solution to a problem as a hypothesis, often called an “educated guess,” because it provides a suggested solution based on the evidence. 15
  16. 16. Property of Noble Studios Step 3: Create the experiment. • First: Who is the target audience? • Second: What do you want them to do? • Third: Why should they do it? The Lean Analytics Cycle 16
  17. 17. Property of Noble Studios Step 4: Measure and decide what to do. • If the experiment was a success, you’re a hero. • If the experiment failed spectacularly, you need to revisit your hypothesis. • If the experiment moved the needle, but not enough to clear the goal posts, you should try another experiment. The Lean Analytics Cycle 17
  18. 18. Property of Noble Studios “Vanity” Social Metrics 18 “If real metrics are things that show you whether or not you’re succeeding, vanity metrics are things that make you feel like you’re succeeding.” - Doug Kessler
  19. 19. Property of Noble Studios Vanity Metrics 19 Source: britthompson.com
  20. 20. Property of Noble Studios • Focus only on part of the funnel (generally top) • Glorify quantity not quality • Don’t correlate to real business results • Make us feel like rock stars • Are created to accommodate for data we don’t like What They Have in Common 20
  21. 21. Property of Noble Studios • Fans/Likes • Followers • Connections • Reach • Visits/Sessions • Pageviews Note: This data can be useful if overlaid with performance metrics Most Common 21
  22. 22. Property of Noble Studios ROE • Return on Engagement • Return on Experience ROA • Return on Attention Totally Useless 22
  23. 23. Property of Noble Studios A New Framework 23
  24. 24. Property of Noble Studios Start with Your Goals 24
  25. 25. Property of Noble Studios Metrics that Matter 25 Activity Reach Engagement Acquisition Conversion
  26. 26. Property of Noble Studios KPIs vs. Diagnostic Metrics 26 Source: http://www.slideshare.net/socialogilvy
  27. 27. Property of Noble Studios KPIs vs. Diagnostic Metrics 27 Source: http://www.slideshare.net/socialogilvy
  28. 28. Property of Noble Studios Get Ready… 28 Source: diylol.com
  29. 29. Property of Noble Studios Metrics That Matter 29
  30. 30. Property of Noble Studios Post Metrics • Post Rate • Post Type Percentage • Post Topic Percentage Response Metrics • Response Rate • Average Response Time Activity 30
  31. 31. Property of Noble Studios Record all that you do associated with inbound marketing so that you’re able to correlate it with what you’re tracking. Even better – annotate in Google Analytics! • 4/1 – Begin tweeting • 4/11 – Webinar 1 • 4/12 – Blog post about new product • 4/12 – Share link to blog post on Facebook and Twitter • 4/13 – Video on new product to YouTube • 4/20 – Facebook contest begins • 4/30 – Hit 150 Twitter Followers Activity Timeline 31
  32. 32. Property of Noble Studios Customer Service Savings Cost to solve a customer issue via traditional channels - Cost to solve a customer issue via social media = Savings Activity 32
  33. 33. Property of Noble Studios • Facebook: Weekly total reach or “saw this post” • Twitter: Total followers + total followers of those who retweeted your posts • Google+: Total number of those you have in your circle + total of circles of those who shared your posts • LinkedIn: Total impressions • Pinterest: Daily average reach Reach 33
  34. 34. Property of Noble Studios Audience Growth Rate • Facebook: New fans / total fans • Twitter: New followers / total followers • Google+: Newly added to circles / already in circles • LinkedIn: New followers of company page / total followers of company page • Pinterest: New followers / total followers Reach 34
  35. 35. Property of Noble Studios Brand Awareness • Brand mentions • Sentiment Share of Voice (SOV) • Your brand mentions / total industry mentions (your brand + competitors) Activity 35
  36. 36. Property of Noble Studios Applause Rate • Facebook: Total number of likes / total posts • Twitter: Total number of favorites / total posts • Google+: Total number of +1s / total posts • LinkedIn: Total number of likes / total posts • Pinterest: Total number of favorites / total pins Engagement 36
  37. 37. Property of Noble Studios Amplification Rate • Facebook: Total number of shares / total posts • Twitter: Total number of shares / total posts • Google+: Total number of shares / total posts • LinkedIn: Total number of shares / total posts • Pinterest: Total number of repins / total pins Engagement 37
  38. 38. Property of Noble Studios Engagement Rate • Facebook: People talking about this / total fans • Twitter: Favorites + mentions + retweets / total followers • Google+: +1s + comments + shares / total followers • LinkedIn: Likes + comments + shares / total followers • Pinterest: Likes + comments + repins / total followers Engagement 38
  39. 39. Property of Noble Studios Site Traffic • Social visits • Percentage of total visits Acquisition 39
  40. 40. Property of Noble Studios Acquisition 40
  41. 41. Property of Noble Studios Acquisition 41
  42. 42. Property of Noble Studios What are they up to? • Avg. session duration • User frequency • Pages per visit • Bounce rate Acquisition 42
  43. 43. Property of Noble Studios Conversions = Goals • Duration goals: Spending more than 3 minutes on the site • Pages/session goals: Users visit more than 3 pages per session • Event goals: Watching a film, downloading a paper, completing a form • Destination goals: Visiting a “thank you” page or other specific landing page Conversion 43
  44. 44. Property of Noble Studios A couple good reads Starting goals: http://www.searchenginejournal.com/a-beginners-guide-to-conversion-goals-in- google-analytics/42558/ Engagement goals: http://spinsucks.com/social-media/three-data-points-to-measure-your-blog- efforts/ Conversion 44
  45. 45. Property of Noble Studios Conversion 45
  46. 46. Property of Noble Studios Conversion - Attribution 46
  47. 47. Property of Noble Studios Conversion - Attribution 47
  48. 48. Property of Noble Studios Conversion – Social Value 48
  49. 49. Property of Noble Studios Conversion – Attribution 49
  50. 50. Property of Noble Studios Conversion – Multi Touch 50
  51. 51. Property of Noble Studios Recap 51
  52. 52. Property of Noble Studios 1. Start with your business objectives 2. Define and setup goals 3. Eliminate or reduce the noise • Select 1-3 KPIs for each position in the funnel 4. Develop benchmarks 5. Watch for patterns 6. Track attribution 7. Follow the Lean Analytics Cycle The Full Cycle 52
  53. 53. Property of Noble Studios 50 W. Liberty St., Ste. 800, Reno, NV 89501 | 775.883.6000 | noblestudios.com Social Media Analytics 53 Instructor: Chad Hallert

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