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Social media measurement 101.

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  • 1. Social Media Measurement 101 Tara (Gajadhar) Singh November 2011
  • 2. Measure Across Channels, Not in Silos Social Media Measurement PUBLIC RELATIONS CUSTOMER CARE MARKETING ADVOCACY
  • 3. Avoid Drowning in Social Metrics # of Twitter Followers Net positive mentions Net revenue Facebook Impressions Volume of Outbound Updates Net negative mentions Net number of new donors Viral lift from ShareThis Number of ReTweets Donor service requests Average frequency of donations Sponsorship CPA per donor Number of Click Throughs Average number of replies to Average order value Revenue Per Community Member complete service request Number of Facebook Likes Average amount of time to close Conversions Number of Testimonials Measure Only Key Performance Indicators out a request Number of comments Net potential reach Volume of mentions Share of traffic from competitors That Align with Core Business Goals Number of comments per post Facebook viraliy Number of shares per update Share of community members from competitors Number of shares Facebook reach Response to hashtags Income to Cost Number of downloads Facebook feedback score Event attendance Response to promo offers Number of event RSVPs Klout Conversion by WV vs. Users Number of views Number of daily visitors Online donations Number of shares of site Content Number of inbound links Number of unique visits to post Reviews Visit to conversion rate Brick and mortar traffic
  • 4. Example: KPIs for Acquisition• Goal: Acquire new sales of XYZ• Target: Acquire 100 sales of XYZ in Q1• Social Media Measurement: – Key Performance Indicators: • Net new sales of XYZ from social media in Q1 • Net new income from social media in Q1 • Inbound traffic conversion rate (all social media referral traffic) in Q1 • Average order value of orders that came in from social media in Q1 – Secondary Performance Indicators • Social media traffic to website and/or customer events in Q1 • Increase in Search traffic and conversions from social media referrers in Q1 • Increase in mentions of product “XYZ” in social media conversations in Q1
  • 5. Example: KPIs for Cultivation• Goal: Increase retention of customers• Target: Increase retention of customers by 5% in 1 year• Social Media Measurement: – Key Performance Indicators: • Increase in retention from existing customers (connected to social media efforts) • Increase in average order value from existing customers • Increase in long term value of existing customers – Secondary Performance Indicators • Brand impact survey indicates that % of customers are more loyal as a result of social media communications • Increase in repeat visits to customer account pages • Increase in mentions of product in social media conversations
  • 6. Example: KPIs for Advocacy• Goal: Enact passage of the Child Protection Compact Act (CPCA)• Target: Mobilize 30,000 college students to reach out to congressional representatives in Q3• Social Media Measurement: – Key Performance Indicators: • Number of petition signatures for the CPCA in Q3 • Increase in downloads of related activism materials in Q3 • Number of calls to congressional representatives in Q3 • Number of letters sent to congressional representatives in Q3 – Secondary Performance Indicators • Increase in traffic visits to related landing page in Q3 • Increase in volume of social media conversation about this topic in Q3 • Difference in attendance to overall program events in Q3
  • 7. Example: KPIs for Customer Service• Goal: Increase cost efficiencies for customer service• Target: A 5% reduction in costs in Q1 by shifting support tickets to Twitter• Social Media Measurement: – Key Performance Indicators • Difference in phone and associated offline costs in Q1 • Increase in support requests on Twitter in Q1 • Difference in offline support requests in Q1 • Difference in average amount of time to close out ticket on Twitter in Q1 – Secondary Performance Indicators • Difference in number of positive mentions due to customer support feed • Difference in Twitter followers for support feed
  • 8. Analyzing Social Media Impact• Review perception, non-financial and financial outcomes• Identify and vet for correlations with other channels• Develop baselines to determine growth and needed improvementsExample:Investment Action Reaction Non-financial Financial $XYZ XYZ •XYZ% of •XYZ positive blog posts •$XYZ cost Campaign conversations •XYZ new Twitter followers per acq. •XYZ interactions •XYZ new Facebook fans •$XYZ long per post •XYZ YouTube views term value •Over XYZ comments indicating a decision to support/purchase Correlations •XYZ% increase in Search conversions •XYZ% increase in Display click-to-conversation rate
  • 9. Key Measurements • Frequency – How are social media interactions increasing the frequency of sales? – Is social media helping to shorten the sales cycle? • Reach – How many people are you reaching? Fans and friends of fans? – Compare against other channels • Display cost per impr is XYZ versus Social’s cost per impr at XYZ – Track conversion based on reach • Revenue or sponsorship per social media community member • Yield – Track average order value and test ways to improve – Track differences in retention
  • 10. Brand Impact and Content Effectiveness • Conduct Brand Impact surveys to understand how social influences customer base and/or prospects XYZ post • Track effectiveness of content – Facebook: reach and engagement of posts • Reach: number of unique people who have seen content XYZ post associated with your page • People talking about this: number of people who have created a story about your page • Virality Rate: People talking about this/Reach – Twitter: retweets per tweet – YouTube: engagement (likes, shares, and comments) per video – Blog: engagement per blog post – Website: shares/reviews per article/post
  • 11. Watch Social Media Conversation Trends