CIPR Freshly Squeezed 25th Oct 2011

Measuring Online Philip Sheldrake www.philipsheldrake.com @sheldrake Author The Business of Influence: Reframing Marketing and PR for the Digital Age www.influenceprofessional.com Founding Partner, Meanwhile www.andmeanwhile.com Freshly Squeezed training session 25th October 2011 1

An illustrated history http://youtu.be/wp2eUSL4oHc http://www.philipsheldrake.com/2011/01/content-an-illustrated-history 2

Questions Your organization ☐Tick those youconsider to beunique… 3

Questions Your organization  Your marketplace ☐Tick those youconsider to beunique… 4

Questions Your organization  Your marketplace Tick those you Your stakeholders ☐consider to beunique… 5

Questions Your organization  Your marketplace Tick those you Your stakeholders  Your marketing objectives ☐consider to beunique… 6

Questions Your organization  Your marketplace Tick those you Your stakeholders  Your marketing objectives consider to be Your PR objectives ☐unique… 7

Questions Your organization  Your marketplace Tick those you Your stakeholders  Your marketing objectives consider to be Your PR objectives unique… Your marketing strategy ☐ 8

Questions Your organization  Your marketplace Tick those you Your stakeholders  Your marketing objectives consider to be Your PR objectives unique… Your marketing strategy See where I’m Your PR strategy ☐going with this? 9

Questions Your organization  Your marketplace Tick those you Your stakeholders  Your marketing objectives consider to be Your PR objectives unique… Your marketing strategy See where I’m Your PR strategy  Your marketing execution ☐going with this? 10

Questions Your organization  Your marketplace Tick those you Your stakeholders  Your marketing objectives consider to be Your PR objectives unique… Your marketing strategy See where I’m Your PR strategy  Your marketing execution going with this? Your PR execution ☐ 11

Questions Your organization  Your marketplace Tick those you Your stakeholders  Your marketing objectives consider to be Your PR objectives unique… Your marketing strategy See where I’m Your PR strategy  Your marketing execution going with this? Your PR execution  Your metrics? ☐ 12

Questions Your organization  Your marketplace Tick those you Your stakeholders  Your marketing objectives consider to be Your PR objectives unique… Your marketing strategy See where I’m Your PR strategy  Your marketing execution going with this? Your PR execution  Your metrics?  13

Five myths…Myth 1: We can measureeverything digital precisely andinstantly.Jim Sterne puts it like this: “The world of onlinemarketing has been suffering from a delusion of precisionand an expectation of exactitude.” Social Media Measurement Guidance, CIPR, March 2011 14

Five myths…Myth 2: All digital metrics areuseful.Just because you can measure it doesn’t mean youshould. Katie Delahaye Paine puts it like this: “Sowhat?!”  Social Media Measurement Guidance, CIPR, March 2011 15

Five myths…Myth 3: The new compound scoreeveryone is talking about must beuseful.Too few practitioners know what the numbersrepresent, nor then do they know how to interpretthe quantities and ensure they are not misapplied. Social Media Measurement Guidance, CIPR, March 2011 16

Five myths…Myth 4: One metric will do.One metric never suffices. You will need abalanced portfolio of metrics. Social Media Measurement Guidance, CIPR, March 2011 17

Five myths…Myth 5: The more followers /friends the better.The number of followers and friendsindicates popularity, butpopularity isn’tthe same as influence. Social Media Measurement Guidance, CIPR, March 2011 18

The Maturity of Influence ApproachMaturity CharacteristicsHigh Trace the influence (the action) back to source. Focused on business Influence-centric outcomes, as we should be.Medium It’s quality not quantity. Not how many Best practice, intelligent and people you interact with, but how and in you could say scientific and what context? professional marketing and PR, and associated activities.Low Number of followers, friends, Influencer-centric subscribers, circulation. Empirically supported network science. Akin to column inches and AVE – measurementPitiful Obfuscating compound measures of because you can, not non-contextual trivial variables. No because you should. empirical evidence. The Business of Influence, Philip Sheldrake, Wiley, 2011, Table 5.1, page 47 19

Barcelona Principles (2010)1. Importance of goal setting and measurement2. Measuring the effect on outcomes is preferred to measuring outputs3. The effect on business results can and should be measured where possible4. Media measurement requires quantity and quality5. AVEs are not the value of public relations6. Social media can and should be measured7. Transparency and replicability are paramount to sound measurement. Final Barcelona Declaration of Measurement Principles, July 22, 2010 20

The AMEC Valid Metrics Matrix Final “Barcelona Declaration of Measurement Principles”, July 22, 2010 21

The AMEC Valid Metrics Matrix Final “Barcelona Declaration of Measurement Principles”, July 22, 2010 22

Best practice process for selectingand defining social media metrics1. Audit – Where are we now?2. Setting measurable objectives – Where do we need to be?3. Strategy and plan – How do we get there?4. Measurement and analytics – Are we getting there?5. Results and evaluation – How did we do? Research, Planning and Measurement Toolkit, CIPR, October 2010 23

Best practice process for selectingand defining social media metrics1. Audit – Where are we now?2. Setting measurable objectives – Where do we need to be? 2.1 Define your measurable objective 2.2 Define your benchmark set – comparative / relative 2.3 Define the ideal metrics 2.4 Identify candidate metrics that combine to best meet your ideal definition(dont try and make your metrics universal across the organisation, but apply different metrics for different audiences) 2.5 Tailor each one to your specific needs, recognising its shortcomings / limits 2.6 Document these steps to make the process auditable and more easily reviewed 2.7 Set a review date and owner.1. Strategy and plan – How do we get there?2. Measurement and analytics – Are we getting there?3. Results and evaluation – How did we do? Social Media Measurement Guidance, CIPR, March 2011 24

Golden rules for metric selection Only employ metrics that directly and obviously guide behaviour and performance as required by strategic objectives Metrics need each other – no metric can achieve what’s needed alone Metrics must complement not compete Just because something is easy to measure, or is already measured, doesnot qualify it as a good metric When you have a choice of two equally appropriate metrics, select the mostreadily understood Never employ fewer or more metrics than will suffice Metrics with unneeded side effects aren’t quite right – redesign them; or,a metric that can be gamed demands a complementary metric to ensure that it isn’t. The Business of Influence, Philip Sheldrake, Wiley, 2011, page 115 25

Researching candidate metricsSocial Media Metrics, SterneMeasure What Matters, PaineMarketing Metrics, Farris,Bendle, Pfeifer,Reibsteinhttp://kpilibrary.comhttp://www.smartkpis.comhttp://www.kpi-portal.comhttp://www.bsccommunity.comhttp://www.thepalladiumgroup.com/communities/XPC The Business of Influence, Philip Sheldrake, Wiley, 2011, page 115 26

BibliographySocial Media Metrics: How to Measure and Marketing Metrics: The Definitive Guide toOptimize your Marketing Investment, Jim Sterne, Measuring Marketing Performance, W. Farris,Wiley, 2010, 978-0470583784 Neil T. Bendle, Phillip E. Pfeifer, David J. Reibstein, 2010, Wharton School Publishing, ISBN:Measure What Matters: Online Tools For 9780137058297Understanding Customers, Social Media,Engagement, and Key Relationships, Katie Balanced Scorecard: Translating Strategy intoDelahaye Paine, Wiley, February 2011, 978- Action, Robert S. Kaplan and David P. Norton, 1996,0470920107 Harvard Business School Publishing Corporation, ISBN: 9780875846514The Business of Influence: ReframingMarketing and PR for the Digital Age, Philip Social Media Analytics: Effective Tools forSheldrake, Wiley, April 2011, 978-0470978627 Building, Interpreting and Using Metrics, Marshall Sponder, McGraw-Hill, August 2011, 978- 0071768290 27

BibliographyFinal “Barcelona Declaration of Measurement CIPR Social Media Measurement Guidance:Principles”, July 22, 2010: http://www.cipr.co.uk/content/policy-resources/for-http://www.amecorg.com/images/public/barcelonapri practitioners/research-planning-and-nciplesforprmeasurementslidesfinal_22j uly2010.ppt measurement/toolkit/social-media-measurement CIPR Research, Planning and Measurement Toolkit: http://www.cipr.co.uk/content/pr-AMEC’s “PR Measurement Metrics: From Concept to resources/practitioners/research-planning-and-Implementation Reality” proceedings, including the measurement“valid metrics” and social media guidelines:http://www.londonmeasurementconference.org/downloads.htmlInstitute for PR Measurement Commission’s “socialhub” with commentary and background on theBarcelona Principles, “valid metrics” approach andrelated measurement discussion:http://www.iprmeasure.org 28

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CIPR Freshly Squeezed 25th Oct 2011

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CIPR Freshly Squeezed 25th Oct 2011 — Presentation Transcript