Measuring Social Media Effectiveness Connie Bensen @cbensen Social Media Plus May 25, 2010
Agenda The New Measurement Tools & Ownership Five Step Process Metrics & Key Performance Indicators Case Studies
The New Measurement
Everything is Measurable
Wikis Blogs Twitter Facebook Message Boards Your Site Web Analytics YouTube LinkedIn
Opportunities of Monitoring Social Media Social Media Campaigns Customer Service Sales – Lead Gen Engagement Competitive Insight Product Development Search Engine Optimization Corporate Marketing Public Relations Brand Audit Time
Tools & Ownership
Social Media Monitoring Tools
Social Media Monitoring Tools (continued)
Collect Alterian SM2 indexes the entire social media universe, across the globe and across all platforms. Store Alterian’sSocial Media WarehouseSM, created in 2007, contains over 5 billion social media mentions, blogs, tweets, posts, images and conversations. Understand An incredibly powerful and intuitive tool, the AlterianSM2 User Interface enables clients to visualize, analyze, communicate and share findings. Turn content into actionable insight. The SM2 Technology Components Over 5 Billion Results
Who Should do This?
Five Step Process Measurement
5 Steps to Success Listen using a comprehensive tool Decide on Objectives & Plan Strategy Objectives will Define Metrics Benchmark & Execute Measure, Report & Refine
1. Listen Consider: Daily Volume Social networks being used Locations of communities online & offline Sentiment & Tone
Daily Volume How much are people talking about your brand? 6 months: 137, 113 Trending avg: 732/day
Volume: Social Channels Where are they talking?
Where are conversations taking place online? Focus on places consumers are most active. Plan your strategy.
Where does your audience reside? Identify new stakeholder groups. Grow membership base.
How do consumers feel about your brand? Find out what they do or don’t like... and who’s letting you know.
How polarized are the conversations?
2. Choose Objectives - Value and ROI
3-4 Define Metrics and Benchmark Goals will meet the objective(s) Percentage increase or decrease of desired results Examples: 15% increase in word of mouth 10% decrease in demand on call center 5% increase in leads from social channels 15% cost reduction in product development costs Benchmarking sets the stage.
Bring outside ideas into organization
Generate more word of mouth
Increase customer loyalty
Increase product/brand awareness
Improve new product success ratios
Improve public relations effectiveness
Reduce customer acquisition costs
Reduce customer support costs
Reduce market research costs
Reduce product development costs
Tip – Choose 1 or 2 to start with
5. Monthly Reporting Report on Objectives established from goals of the position Qualitative Trends in members, topics, discovery of new communities Quantitative Benchmark based on previous report Web Analytics unless someone else is tracking them Recommendations Based on interactions with customers
Comparing Volume Blue is specifically about Tiger Represent a specific proportion of total conversations
Metrics & KPI’s
Customized KPI’s Social Reach Indicators Alterian generated content views on Slideshare, whitepaper downloads Blog subscriptions Community Health Indicators Volume of conversations about Alterian products Social Influence/Reputation Indicators Reach of participation in: speaking, training customers/staff, collaborations
Techrigy’s Value and ROI of a Twitter engagement After 3 months -Customer base increased by 57%
Eliminated cold calling
Multiple demo and pricing requests per day
Increased sales staff
Established brand visibility
After 6 months: Increased by 269%
Freemiums converting without
entering sales funnel
Techrigy acquired by Alterian
At 1 year: Increased by 840%
expanding Twitter engagement
across the enterprise
Increasing Customer Engagement by Listening 9 sites across Texas 18,000 staff, 90,000 patients www.mdanderson.org
Background Started monitoring in 2007 using free tools Monitored online conversations about: Cancer experiences Online discussion of their treatment Their brand and cancer related topics The communications they were creating “Our desire to get closer to patients and the general public online, and engage with those who were socially connected, meant we had to be able to monitor a much larger number of sources”. Jennifer Texada
ROI of Patient Referral at MD Anderson Campaign goal: To increase the number of doctors who registered with the hospital’s online electronic medical records system and in turn increase the number of patients referred. Tracked spread of campaign using SM2 and web analytics Noted a 9.5% increase in patient referrals in 3 months “This was a real eye-opener to how social media could benefit the business,” Texada said. “We could see which activity made most impact and which spread fastest.”
Evaluating Public Education Strategy planning Used SM2 to review historical data Decided to not run the same Prostate Cancer Awareness program They ran a more general campaign on men’s health Healthy eating Eating on a budget Exercise Resulted in significantly more traffic
Resources ROI Series of 10 white papers – http://AlterianSM2.com Freemium version of SM2 Groundswell by Charlene Li and Josh Bernoff Measuring Public Relationships by Katie Delahaye Paine Putting the Public Back in Public Relations by Brian Solis & Deidre Breakenridge Personality Not Included by RohitBhargava Trust Agents by Chris Brogan & Julien Smith
Connie Bensen @cbensen ConnieBensen@gmail.com http:communitystrategist.com Director of Community Strategy, Alterian