Socialmarketinganalytics 100610085606-phpapp02
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    Socialmarketinganalytics 100610085606-phpapp02 Socialmarketinganalytics 100610085606-phpapp02 Presentation Transcript

    • 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 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
    • The conversation has shifted off domain Source: Pew Resource Center’s Internet and American Life Project , October 8, 2009 5
    • 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 strategy in place 9
    • 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
    • ...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
    • 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 Media Measurement standard. 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
    • 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 motivating factors 21
    • The SMA Strategy: Objectives • Business Objectives = Strategy • Foster Dialog • Promote Advocacy • Facilitate Support • Spur Innovation 22
    • The SMA Strategy: Measures •Measures of Success = Management • Key Performance Indicators… • Provide context • Set expectations • Mandate actions 23
    • The SMA Strategy: Tactics •Operational Tactics = Execution • Specific campaigns • Channel preferences • Closed loop feedback 24
    • Use a Measurement Framework 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
    • 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 response to ideas, thoughts, products and activities generated by the organization • Responding to individuals on behalf of the brand through genuine interactions 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
    • 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 • 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
    • 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
    • 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 alternatives • Expediting issue resolution with quality and integrity • Elevate satisfaction through flexible support options 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
    • 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 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
    • 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
    • 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, 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
    • 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
    • What about the Channels??? 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
    • 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
    • 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
    • DON’T BE THIS GUY, OKAY?
    • Want to Learn More? 62
    • Questions?