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Social Marketing Analytics
A New Framework for Measuring Results in Social Media

A Joint Research Presentation With:
SOCIAL MARKETING
ANALYTICS:
A New Framework for Measuring
Results in Social Media

@johnlovett

@jowyang

#SocialAnalytics
About This Research
• A Collaborative Effort
• Our Methodology
• A Nod To Open Research

3
Special Thanks To...
• Our co-authors
– Charlene Li, Eric T. Peterson, Christine Tran

• Our Ecosystem Contributors
– Lisa...
The conversation has shifted off
domain

Source: Pew Resource Center’s Internet and American Life Project , October 8, 200...
Facebook is the second biggest site in
US

Source: : Compete.com , January 2010
6
50 million tweets a day on Twitter

Source: Twitter, February 22, 2010
7
companies are confused

Source: http://www.engagementdb.com
8
The Big Social Experiment
• Many companies are stumbling blindly into
social media marketing without a
measurement strateg...
The Numbers are Telling…
• “While 2009 may have been a “trial” run for many
brands and social media, in 2010, CMOs expect
...
...Still Marketers are Perplexed
• Social media vendors and platforms are
proliferating at an astounding rate
• Solutions ...
12
The Big Payoff is Elusive

14
The Marketing Funnel

15
• The vast majority of businesses tracking
social media today are using the wrong
metrics!
•

It’s time for a new Social M...
Introducing...

• Social Marketing Analytics is the discipline
that helps companies measure, assess and
explain the perfor...
The Discipline Includes a Framework

18
Begin with an Inside-Out Strategy

19
The SMA Strategy In Practice

Corporate Goals
Business Objectives
Measures of Success
Operational Tactics
20
The SMA Strategy: Goals

• Corporate Goals = Vision
• Understand, embrace & support
• Socialize goals widely
• Leverage mo...
The SMA Strategy: Objectives

• Business Objectives = Strategy
• Foster Dialog
• Promote Advocacy
• Facilitate Support
• S...
The SMA Strategy: Measures

•Measures of Success = Management
• Key Performance Indicators…
• Provide context
• Set expect...
The SMA Strategy: Tactics

•Operational Tactics = Execution
• Specific campaigns
• Channel preferences
• Closed loop feedb...
Use a Measurement Framework

25
Marketers Need A Framework
• A pragmatic approach using metrics derived
from sound business objectives
• Minimizes confusi...
The Framework Begins with Goals

27
...From Goals Stem Objectives

28
...Then Measures of Success

29
And Finally Execution

30
A Social Marketing Example...

•Goal

Driving Consideration

• Objective
• Measures
• Tactics
31
DIALOG Trumps Sponsorship

32
Dialog Requires…
• Building awareness by initiating the conversation
• Engaging with individuals to determine their
respon...
Granular Metrics

n
io
ut
ec
Ex

Share of
Voice

Audience
Engagement

Conversation Reach

ag
an
M

gy
te
ra
St

t
en
em

F...
Dialog KPIs in action
• Share of Voice:

• Audience Engagement:

• Conversation Reach:

35
If I Were At Nike...
Share of
Voice

Audience
Engagement

Conversation
Reach

36
Advocacy in a Social World

37
Advocacy Requires…
• Encouraging word of mouth activity by
promoting and endorsing conversations
shared by individuals
• D...
Promote
Advocacy

r
St

gy
e
at

Advocate
Influence

Advocacy
Impact

a
M

nt
e
m
e
ag
n

Ex

n
io
t
cu
e

Granular Metric...
Advocacy KPIs in action
• Active Advocates:

• Advocate Influence:

• Advocacy Impact:

40
If I Were At The National Breast Cancer
Awareness Foundation...
Active
Advocates

Advocate
Influence

Advocacy
Impact

41
Support Goes Social
Support Requires…
• Resolving service issues through social
media channels via direct company response
and crowd-sourcing ...
St
gy
te
ra

a
an
M
en
m
ge
t

Facilitate
Support

io
ut
ec
Ex
n

Resolution
Rate

Resolution
Time

Satisfaction
Score

Gr...
Support kpis in action
• Social Media Issue Resolution Rate:

• Resolution Time:

• Customer Satisfaction Score:

45
If I Were At Best Buy...
Issue
Resolution
Rate

Resolution
Time

Satisfaction
Score

46
Crowdsourcing innovation

47
Innovation Requires…
• Gathering customer insights via social media
channels with a clear mission of identifying
market ne...
Sentiment
Ratio

Spur
Innovation
r
St
eg
at

Granular Metrics

Topic
Trends

y

Idea Impact

M

Ex
ec
ut
io
n

an
a

ge
m
...
innovation kpis in action
• Topic Trends:

• Sentiment Ratio:

• Idea Impact:

50
If I Were At Dell...
Topic
Trends

Sentiment
Rate

Idea Impact

51
The Framework Is a Process

52
What about the Vendors???

53
Business Objective Key Performance Indicator

Vendors to Watch

Share of Voice
Audience Engagement

Coremetrics, Webtrends...
Vendors Are A Mandatory Component
• The perfect social media measurement vendor
does not exist
• Existing vendors shine at...
What about the Channels???

56
Specific Channels Are Secondary to
Strategy
• Find your audience, wherever they may be
• Recognize influence above the noi...
A New Social Media Measurement
Playbook is Mandatory
• Measure based on specific business objectives
• Use Key Performance...
Your Prescription For Measurement
1. Follow the process:
Vision>Objectives>Measurement>Tactics
2. Know that not all channe...
DON’T BE THIS
GUY, OKAY?
Want to Learn More?

62
Questions?
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Transcript of "Socialmarketinganalytics 100610085606-phpapp02"

  1. 1. Social Marketing Analytics A New Framework for Measuring Results in Social Media A Joint Research Presentation With:
  2. 2. SOCIAL MARKETING ANALYTICS: A New Framework for Measuring Results in Social Media @johnlovett @jowyang #SocialAnalytics
  3. 3. About This Research • A Collaborative Effort • Our Methodology • A Nod To Open Research 3
  4. 4. Special Thanks To... • Our co-authors – Charlene Li, Eric T. Peterson, Christine Tran • Our Ecosystem Contributors – Lisa Barone, Connie Benson, David Berkowitz, Blake Cahill, Adam Coomes, Monica Cordina, Bill Gassman, Jascha Kaykas-Wolff, Rob Key, Justin Kistner, Scott Lake, Matt Langie, Alex Mann, Louis Marascio, John McCory, Aaron Neumann, Katie Delahaye Paine, Sean Power, Chris Ramsey, Boaz Ronkin, Shiv Singh, R “Ray” Wang, Alan Webber, Jennifer Zeszut – Alterian SM2, Biz360, Cymfony, Lithium, Omniture, Radian6, Scout Labs, Social Radar StatsIT, SWIX, Trackur, Trendrr, LugIron, Visible Technologies, Webtrends 4
  5. 5. The conversation has shifted off domain Source: Pew Resource Center’s Internet and American Life Project , October 8, 2009 5
  6. 6. Facebook is the second biggest site in US Source: : Compete.com , January 2010 6
  7. 7. 50 million tweets a day on Twitter Source: Twitter, February 22, 2010 7
  8. 8. companies are confused Source: http://www.engagementdb.com 8
  9. 9. The Big Social Experiment • Many companies are stumbling blindly into social media marketing without a measurement strategy in place 9
  10. 10. The Numbers are Telling… • “While 2009 may have been a “trial” run for many brands and social media, in 2010, CMOs expect social initiatives to directly impact their bottom lines, without exception.” • “CMOs reported that 64% of them would increase their social media budgets within the next year.” • In 2009, 89% of CMOs tracked social media's impact by using standard metrics such as site traffic, pageviews, and number of fans. Source: BazaarVoice “CMOs Plan for Higher Social Media Measurability in 2010” December 8, 2009 10
  11. 11. ...Still Marketers are Perplexed • Social media vendors and platforms are proliferating at an astounding rate • Solutions exist for every channel • A multitude of choice creates confusion 11
  12. 12. 12
  13. 13. The Big Payoff is Elusive 14
  14. 14. The Marketing Funnel 15
  15. 15. • The vast majority of businesses tracking social media today are using the wrong metrics! • It’s time for a new Social Media Measurement standard. 16
  16. 16. Introducing... • Social Marketing Analytics is the discipline that helps companies measure, assess and explain the performance of social media initiatives in the context of specific business objectives. 17
  17. 17. The Discipline Includes a Framework 18
  18. 18. Begin with an Inside-Out Strategy 19
  19. 19. The SMA Strategy In Practice Corporate Goals Business Objectives Measures of Success Operational Tactics 20
  20. 20. The SMA Strategy: Goals • Corporate Goals = Vision • Understand, embrace & support • Socialize goals widely • Leverage motivating factors 21
  21. 21. The SMA Strategy: Objectives • Business Objectives = Strategy • Foster Dialog • Promote Advocacy • Facilitate Support • Spur Innovation 22
  22. 22. The SMA Strategy: Measures •Measures of Success = Management • Key Performance Indicators… • Provide context • Set expectations • Mandate actions 23
  23. 23. The SMA Strategy: Tactics •Operational Tactics = Execution • Specific campaigns • Channel preferences • Closed loop feedback 24
  24. 24. Use a Measurement Framework 25
  25. 25. Marketers Need A Framework • A pragmatic approach using metrics derived from sound business objectives • Minimizes confusion about the value of social marketing efforts • And delivers tangible results 26
  26. 26. The Framework Begins with Goals 27
  27. 27. ...From Goals Stem Objectives 28
  28. 28. ...Then Measures of Success 29
  29. 29. And Finally Execution 30
  30. 30. A Social Marketing Example... •Goal Driving Consideration • Objective • Measures • Tactics 31
  31. 31. DIALOG Trumps Sponsorship 32
  32. 32. Dialog Requires… • Building awareness by initiating the conversation • Engaging with individuals to determine their response to ideas, thoughts, products and activities generated by the organization • Responding to individuals on behalf of the brand through genuine interactions 33
  33. 33. Granular Metrics n io ut ec Ex Share of Voice Audience Engagement Conversation Reach ag an M gy te ra St t en em Foster Dialog
  34. 34. Dialog KPIs in action • Share of Voice: • Audience Engagement: • Conversation Reach: 35
  35. 35. If I Were At Nike... Share of Voice Audience Engagement Conversation Reach 36
  36. 36. Advocacy in a Social World 37
  37. 37. Advocacy Requires… • Encouraging word of mouth activity by promoting and endorsing conversations shared by individuals • Developing relationships with individuals who have an affinity towards the brand • Nurturing existing relationships with customers as a proven method of building advocacy within an easily identified segment 38
  38. 38. Promote Advocacy r St gy e at Advocate Influence Advocacy Impact a M nt e m e ag n Ex n io t cu e Granular Metrics Active Advocates
  39. 39. Advocacy KPIs in action • Active Advocates: • Advocate Influence: • Advocacy Impact: 40
  40. 40. If I Were At The National Breast Cancer Awareness Foundation... Active Advocates Advocate Influence Advocacy Impact 41
  41. 41. Support Goes Social
  42. 42. Support Requires… • Resolving service issues through social media channels via direct company response and crowd-sourcing alternatives • Expediting issue resolution with quality and integrity • Elevate satisfaction through flexible support options 43
  43. 43. St gy te ra a an M en m ge t Facilitate Support io ut ec Ex n Resolution Rate Resolution Time Satisfaction Score Granular Metrics
  44. 44. Support kpis in action • Social Media Issue Resolution Rate: • Resolution Time: • Customer Satisfaction Score: 45
  45. 45. If I Were At Best Buy... Issue Resolution Rate Resolution Time Satisfaction Score 46
  46. 46. Crowdsourcing innovation 47
  47. 47. Innovation Requires… • Gathering customer insights via social media channels with a clear mission of identifying market needs and service opportunities • Processing ideas and community feedback as a means to drive products and services requires receptive product managers • Delivering new products and services to the market with credit and acknowledgement to customers 48
  48. 48. Sentiment Ratio Spur Innovation r St eg at Granular Metrics Topic Trends y Idea Impact M Ex ec ut io n an a ge m en t
  49. 49. innovation kpis in action • Topic Trends: • Sentiment Ratio: • Idea Impact: 50
  50. 50. If I Were At Dell... Topic Trends Sentiment Rate Idea Impact 51
  51. 51. The Framework Is a Process 52
  52. 52. What about the Vendors??? 53
  53. 53. Business Objective Key Performance Indicator Vendors to Watch Share of Voice Audience Engagement Coremetrics, Webtrends, Radian6, Scout Labs, Converseon, Filtrbox (Jive), Visible Technologies Conversation Reach Foster Dialog Alterian SM2, Radian6, Scout Labs, Statsit, Trendrr, Visible Technologies Alterian SM2, Radian6, Scout Labs, Social Radar, Statsit, SWIX, Trendrr, Visible Technologies Active Advocates Promote Advocacy Advocate Influence Biz360, Filtrbox (Jive), Radian6 Cymfony, Filtrbox (Jive), Radian6, Razorfish (SIM Score), Telligent, Twitalyzer, Visible Technologies Advocacy Impact Coremetrics, Omniture, Webtrends, SWIX, Telligent Resolution Rate Filtrbox (Jive), RightNow Technologies, Salesforce.com, Telligent Facilitate Support Resolution Time Filtrbox (Jive), RightNow Technologies, Salesforce.com, Telligent Satisfaction Score ForeSee Results, iPerceptions, Kampyle, OpinionLab Topic Trends Spur Innovation Alterian SM2, Cymfony, Filtrbox (Jive), Radian6, Scout Labs, Social Mention, Social Radar, Trendrr, Visible Technologies Sentiment Ratio Alterian SM2, Converseon, Cymfony, Filtrbox (Jive), Radian6, Scout Labs, Social Radar, Trendrr, Visible Technologies Idea Impact Biz360, Cymfony, Filtrbox (Jive), LugIron, Radian6, Scout Labs, Visible Technologies
  54. 54. Vendors Are A Mandatory Component • The perfect social media measurement vendor does not exist • Existing vendors shine at listening, sentiment and trending conversations • Technologies can facilitate data collection in diverse social media, but there are no silver bullets 55
  55. 55. What about the Channels??? 56
  56. 56. Specific Channels Are Secondary to Strategy • Find your audience, wherever they may be • Recognize influence above the noise • Promote advocacy and leverage your people 57
  57. 57. A New Social Media Measurement Playbook is Mandatory • Measure based on specific business objectives • Use Key Performance Indicators to Become a Measurement Hero • Adopt the Social Marketing Analytics Framework and make it your own 58
  58. 58. Your Prescription For Measurement 1. Follow the process: Vision>Objectives>Measurement>Tactics 2. Know that not all channels are equal 3. Define requirements first; then select vendors 4. Develop your social media measurement playbook 5. Make our measurement framework your own 59
  59. 59. DON’T BE THIS GUY, OKAY?
  60. 60. Want to Learn More? 62
  61. 61. Questions?
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