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Social Media Metrics/Canadian Institute Presentation Transcript

  • 1. The Canadian Institute 4th Annual Conference on Social Media, Metrics and Measurement
    Richard Binhammer, Social Media and Communities
    November 2010
  • 2. 2
    10:15 Case Study: Implementing Metrics to Measure ROI on Your Social Media Tools
    Q: Aligning your measurement strategy with your social media goals
    A: depending on your goals then different things to measure. We will take a look at some of that but go a step further and talk about business goals
    Q: Selecting the metrics appropriate for each social media tool (Tweetdeck, Google Analytics, etc.)
    A:actually we look more at metrics in relation to what you are trying to achieve versus social media tools
    Q: Examining the benefits and pitfalls of measuring social media in-house versus outsourcing to an agency
    A: I suppose it really depends and is likely going to involve a combination of efforts and data collection/analysis
    Q: What are the human resources required to have a robust measurement practice?
    A: All depends, size of business, size of social program, where you going. Measurement is part of practically everything at Dell and baked into everything
    Q: How to pick your social media partner/consultant
    A: I think that depends on an individual businesses needs
  • 3. Investigation“Just the facts, ma’am”
    3
  • 4. Where is the ROI of Social Media
    4
  • 5. Did we have immediate ROI on Model T Assembly?
  • 6. Metrics & Measurementis there influence in this purchase or simply a sale
    6
  • 7. Metrics & Measurementhow was that decision really influenced and made?
    7
  • 8. Business
    grew and succeeded
    based on word of mouth
    … measurable?
  • 9. Traditional Points of Measurement
    Awareness
    Consideration
    Conversion
    non linear, various locales
    unique tools at different points of need
    No single valid, consistent measurement
  • 10. The Social Web: More DataMore Available Across Every Aspect of Customer Experience
    2
  • 11. A lot of it: 60 Seconds Online
    More than 200 new accounts
    62,000 tweets
    11
    • 60 new members
    • 12. 21 hours video uploaded
    • 13. Over 680,000 videos watched
    • 14. 6,500 apps downloaded
    • 15. Nearly 600 new members
    • 16. 60 million photos viewed
  • Data from the Social Web is Not Fully Applied…
    Statistically significant, Huge Global Sample Size, Unaided, Robust
    Canada’s Internet population is growing - by 2013, it will hit 25.9 million, or nearly 75% of the entire nation.
    Many of these people are among the world’s most committed Internet users, spending 45 hours or more online each month
    But
    Not making use of it…
    Large use of social Web for simple visibility, awareness. Measurement often relies on traffic counts, and neglect analyzing the messages being communicated.
    75 % of companies surveyed didn’t know where their most valuable customers were talking about them
    Source: CNW Leger Study in Canada
    12
  • 17. McKinsey Research:The promise of the social media is being deliveredIncidental valuePromise + Metrics + Results ≠ ROI
    13
    Of those surveyed, 69 percent of respondents report their companies have gained measurable business benefits
    Benefits include: innovative products and services, more effective marketing, better access to knowledge, lower cost of doing business, and higher revenues.
    Companies making greatest use of the technologies report even greater benefits. Successful companies integrate Web 2.0 technologies with work flows to create a “networked company,” linking themselves with customers and suppliers
    Web 2.0: McKinsey Global Survey Results, September 2009
  • 18. 14
    • Primary social media focus
    • 19. Sentiment
    • 20. Listen, learn and improve business
    • 21. Your fans deserve appreciation
    • 22. Advocates deserve attention too
    • 23. Inform your products
    • 24. Showing you care about customer
    • 25. Purchase or deeper interest
    • 26. Where customers are
    • 27. Do they like/love you?
    • 28. What are they saying
    • 29. They recommend you
    • 30. Share links with friends
    • 31. Rating & Reviews
    • 32. Publicly complaining
    • 33. Going to your website
    Identify your business objective
    Choose the metrics that help you measure & evolve
  • 34. Are we making Progress?
  • 35. 16
    Confidential
    Four Years of Experiments and Experience
    May 2008Dell Outlet Achieves $0.5M in Sales via TwitterCommunity team active on TwitterSmall Business blog launched
    October 2007Michael Dell quote in Business Week
    Jeff Jarvis story quote, “These conversations are going to occur whether you like it or not. Do you want to be part of that or not? My argument is you absolutely do. You can learn from them. You can improve your reaction time. And you can be a better company by listening and being involved in that conversation.”
    December 2006Ratings and Reviews on Dell.com
    February 2006Michael Dell Asks
    Why don’t we reach out and help bloggers with tech support issues?
    June 2009Global Twitter Revenues of $6.5 M Community across the social web =3.5 million direct customer connections
    August 2006Blog Outreach Expands Beyond Tech Support
    Engagement with anyone who commented about the company. Business model and other issues considered.
    June 2009 $2M+ Sales via Twitter
    Dell outlet on Twitter surpasses $2 million in sales with another $1 million dollars in sales at dell.com
    February 2007IdeaStorm Launched
    A voting based site allowing customers and others to submit ideas for Dell.
    March 2008Accepted Solutions launched on Community Dell France begins Online Community Outreach
    2006
    2008
    March 2010China Micro-Blogging
    2009
    2007
    2009Dell TechCenter
    A Collaborative Community for Datacenter pros grows by 400%
    April 2008Inside IT LaunchedBlog focused on business customers, and Cloud Computing.
    June 2007Dell joins Twitter
    Why don’t we reach out and help bloggers with tech support issues?Dell LaunchesEmployeeStormInternal Blogs Launched for Employees.
    July 2006Direct2Dell LaunchedToday Direct2Dell exists in English, Spanish, Norwegian, Japanese and Chinese.
    2010
    January 2008Dell Aligns Organization for Success
    January 2009Dell Organizes in to 4 customer focused business units
    January 2007StudioDell Launched
    Dell’s video and podcast site, with helpful tips and tricks. Eventually expanding this into the YouTube channel making sharing easier.
    December 2009Huffington Post Blog
    Dell’s VP of Social Media and Community, Manish Mehta, begins blogging at Huffington Post
    June 2008Channel Blog Launched
    March 2006Community Outreach Team Formed
    Team begins by just listening and monitoring conversations to see what’s being said. The tech support experts are hand-selected for their tech problem-solving expertise and superior interpersonal skills.
    February 2008Twitter ExpandedStart experimenting with Twitter for business– another venue to help customers, but also thanking Dell customers. Outreach leads to some Twitters asking for help on purchases.
    Spring 2009Some Members of Community and Conversations deployed within each of the new Dell Business units
    November 2007DellShares Launched
    The first investor relations blog by a public company.
  • 36. Getting to Return on Investment
    Social ROI is measurabledirect and indirectLike most innovations, Experiments leads to insights, Insights leave to “products” Products are deployed in real-world “applications” firststart with a point solution and then scale outScaling is a journeyexciting discoveries and pitfalls await
    17
  • 37. 2 Million+
    Twitter Followers and Facebook ‘Likes’ in 4 Months
    ConanOBrien and Michael Dell Exchange, Twitter reach
    More than 30 million
    Reach,24x7 Interaction, Direct unfiltered access to People
  • 38. Four Different Uses of Twitter = Different Metrics
    Sell
    Engage
    Inform
    Support
  • 39. 20
    Customer Support on Twitter & Facebook
    Confidential
    @DellCareslaunched on Twitter on 15 April, 2010.
    Dell Support on Facebook launched 11 April, 2010.
    Dedicated responders to engage/respond/resolve customer issues via social media. Global Expansion underway. Negative sentiment reductions noted.
  • 40. Community size, Connections
    Myriad of Metrics to Consider
    Revenue
    Views &
    clicks to
    dell.com
    Lower cost,
    faster hires
    Issue tracking, Sentiment,
    Share of voice
  • 41. Fancy Reporting
  • 42. Distillate
  • 43. 24
  • 44. The Journey of Social Business Metrics
    Experiment
    Product
    Application
    Build Out
    Connected and Scaling
  • 45. 26
    Privacy:
    High risk potential.
    Businesses should be mindful, responsible and exercise leadership
    Cannot blindly promote social Web data exploitation at expense of furthering relationships
    Great Opportunities
    Great Responsibilities
  • 46. Forging New Paths…Be Responsible
    At the very beginning of exploration/journey through new territory: Limits between private and public data are unchartered territory, still being defined on a case-by-case basis. Businesses, customers, social networks, technology developers, parents, children – together will set precedents/define the future.
    Availability/Access to rich information/ data is premised on trust…use in unexpected ways risk losing that trustTechnical safeguards may be sound, but unintended “leaks” create a severe disruption of social expectations …
    27
  • 47. The Opportunity of the Social Web: Putting All The Pieces Together
    Application, build-out, scalingUltimate challenge: value of relationships, networks and connections
    28
  • 48. Taking Advantage of New Opportunities
    Becoming
    a Social Business
  • 49. Not just campaigns but in harmony across the fabric of a company
    Product
    Group
    QUALITY
    DEMAND
    Marketing
    Services
    Solutions
    CREDIBILITY
    CONVERSION
    Online
    Sales
    CYCLE TIME
    Customer
    Service
    RESOLUTION
    Comms
    PR & HR
    REPUTATION
  • 50. Embedding Use of Social Media Across the Fabric of Company
    Products
    Support
    Mktg
    HR
    Sales
    multiple points of engagement
    unique measures and metrics
    unique ROI
  • 51. you gonna
    miss that old
    horse?
  • 52. Thank You