Using Metrics to Prove Social Media ROI Success
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Using Metrics to Prove Social Media ROI Success

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The social web is no longer a new channel. However, the volatility, fragmentation and unique characteristics of the social web continue to challenge brands seeking to quantify the success of social ...

The social web is no longer a new channel. However, the volatility, fragmentation and unique characteristics of the social web continue to challenge brands seeking to quantify the success of social media initiatives, and tie them back to business outcomes.

In this webcast, John Lovett, Senior Partner at Web Analytics Demystified and author of Social Media Metrics Secrets, introduces four types of metrics for measuring the success of social media programs, and provides actionable take-aways that can be used immediately to help organizations develop a consistent and repeatable measurement program.

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Using Metrics to Prove Social Media ROI Success Presentation Transcript

  • 1. Using Metrics to Prove Social Media ROI Success© 2012 Webtrends, All Rights Reserved.
  • 2. Introductions @John Lovett Merlyn Gordon Senior Partner Sr. Product Marketing Manager Web Analytics Demystified Webtrends John Lovett is a Senior Partner at Web Merlyn has spent the last decade helping leading Analytics Demystified, Inc. and the author of brands succeed with digital marketing, social CRM, Social Media Metrics Secrets (Wiley, 2011). and multi-channel measurement solutions. A former Forrester Research Analyst and He is currently responsible for product marketing current Vice President of the Web Analytics activities related to Webtrends’ digital Association, John blogs about web analytics measurement solutions, including site, mobile and industry trends, strategy, business culture, and social analytics. social analytics.© 2012 Webtrends, All Rights Reserved. 2|
  • 3. Follow Today’s Discussion Follow Today’s Discussion #WTwebinar Q & A Session Type questions into BrightTALK© 2012 Webtrends, All Rights Reserved. 3|
  • 4. About Web Analytics Demystified• End-to-end strategy for digital measurement, analysis, and optimization – Strategic Audits and Roadmap Development – Executive Retainers and Support Services – Operational Use Audits and Support – Implementation and Ongoing Reporting – Training, Education, Special Topics• www.webanalyticsdemystified.com 4 #Wtwebinar @johnlovett
  • 5. About Web Analytics Demystified 5 #Wtwebinar @johnlovett
  • 6. The Four Categories of Social Analytics Business Value Metrics Outcome Metrics Counting Metrics Foundational Measures 6 #Wtwebinar @johnlovett
  • 7. Counting Metrics Can Get You Started
  • 8. Counting Metrics Are Usually FREE‣ These are the most basic and readily available metrics in social media • More than 50% of companies are collecting: fans, mentions, contributors, and traffic metrics • Think Facebook Insights or YouTube channel profiles • Counting metrics are a measure of volume‣ Volume-Based metrics can be helpful for sizing your audience 8 #Wtwebinar @johnlovett
  • 9. Collaborate to Find Business Value‣ Business Value metrics are calculated to align social activity & results with key stakeholders • These metrics should be developed for specific roles • Get out and talk to your peers – ask hard questions • Your job is to collaborate with stakeholders‣ Communicating business value with your social media metrics is a CRITICAL task 10 #Wtwebinar @johnlovett
  • 10. Business Value Metrics for Executives 11 #Wtwebinar @johnlovett
  • 11. Business Value Metrics for Sales, Service &Marketing 12 #Wtwebinar @johnlovett
  • 12. Don’t Forget Why You’re in Business
  • 13. Humanize Your Approach by MeasuringSocial Media Outcomes‣ A Tested Framework for Social Media Outcomes: • Gain Exposure • Create Dialogue • Encourage Interactions • Facilitate Support • Build Advocacy • Spur Innovation‣ Outcome-Based objectives allow you to connect social programs to customers 14 #Wtwebinar @johnlovett
  • 14. Identifying Social Media Outcomes
  • 15. Outcomes Need Associated Metrics … 16 #Wtwebinar @johnlovett
  • 16. Social Media Foundational Measures‣ Gaining buy-in and creating metrics is the hard work; don’t blow it by introducing data doubts – Metrics must have reproducibility – Gain this by insisting upon standardized calculations – Publish data dictionaries and knowledge bases‣ Analytics programs require governance and Foundational Measures can help 17 #Wtwebinar @johnlovett
  • 17. Foundational Measures are building blocks.Foundational Measures are building blocks. Without them you get Chaos Without them you get Chaos
  • 18. Foundational Measure Calculations 19 #Wtwebinar @johnlovett
  • 19. The Four Categories of Social Analytics Business Value Metrics Outcome Metrics Counting Metrics Foundational Measures 20 #Wtwebinar @johnlovett
  • 20. Measuring Customer Acquisition on Twitter• Counting Metrics = – Tweets, Contributors, Reach• Outcome Metrics = – “Amplification”• Business Value Metrics = – Referrals, Conversions, Revenue 21 #Wtwebinar @johnlovett
  • 21. Twitter Counting Metrics Data Source: TweetReach 22 #Wtwebinar @johnlovett
  • 22. Twitter Counting Metrics Data Source: TweetReach 23 #Wtwebinar @johnlovett
  • 23. Outcome Metrics Usually RequireExporting Data... 24 #Wtwebinar @johnlovett
  • 24. Calculating Outcomes: Twitter – Amplification is a relative number that should be evaluated in context 25 #Wtwebinar @johnlovett
  • 25. Assessing Business Value• Business Value comes from integrating data• Assess your social activities by importing social data to your analytics tool: – Website Referrals from Twitter – Conversions events from Twitter – Revenue from Twitter 26 #Wtwebinar @johnlovett
  • 26. Don’t Miss An Opportunity for Analysis• Integrated Data also yield insights: – When does Amplification correlate to Conversions? – Which message types produce highest Conversions? – Which words produce the highest Conversion rates? – What time of day are messages Amplified most? – Which users drive the Amplification and Conversion? – Is there a business case to invest more in Twitter? 27 #Wtwebinar @johnlovett
  • 27. Engaging Fans on Facebook• Counting Metrics = – Likes, PTAT, Total Reach• Outcome Metrics = – “Engagement”• Business Value Metrics = – Campaign Response Rate, Loyalty, Advocate Impact 28 #Wtwebinar @johnlovett
  • 28. Counting on Engagement• Only 6% of fans engage with brands on Facebook*• More Likes Engagement• Fans “engage” other fans...• *According to a new study by Napkin Labs• http://mashable.com/2012/10/18/facebook-fan-engagement-2/ 29 #Wtwebinar @johnlovett
  • 29. Facebook Counting Metrics Data Source: Facebook Insights 30 #Wtwebinar @johnlovett
  • 30. Facebook Counting Metrics Data Source: Facebook Insights 31 #Wtwebinar @johnlovett
  • 31. Exporting Facebook Insights Data 32 #Wtwebinar @johnlovett
  • 32. Correlating Outcome Metrics 33 #Wtwebinar @johnlovett
  • 33. Correlating Outcome Metrics 34 #Wtwebinar @johnlovett
  • 34. Correlating Outcome Metrics 35 #Wtwebinar @johnlovett
  • 35. Establishing Your Foundational Measures• How are you defining Engagement? – Do you have Engagement defined by channel? – Are you comparing cross-channel social Engagement? – Do your colleagues understand Engagement? 36 #Wtwebinar @johnlovett
  • 36. Communicating Business Value• Business Value = what’s important to your brand• Communicate the value of social activities in language that your peers understand: – Loyalty – Customer Satisfaction – Sales at-the-shelf 37 #Wtwebinar @johnlovett
  • 37. Producing Analysis & Insight• Interpret your data• Provide business context• Offer insights and recommendations 38 #Wtwebinar @johnlovett
  • 38. Bonus Metric! Business Value Metrics Outcome Metrics Counting Metrics Foundational Measures 39 #Wtwebinar @johnlovett
  • 39. The Most Important Metric is UsuallyHardest to Quantify ... Impact Business Value Metrics Outcome Metrics Counting Metrics Foundational Measures 40 #Wtwebinar @johnlovett
  • 40. John LovettSenior Partner, Web Analytics Demystifiedwww.socialmediametricssecrets.comJohn@webanalyticsdemystified.com@johnlovettInsights from Web Analytics Demystifiedwww.webanalyticsdemystified.com
  • 41. Questions? Q & A Session Moderated by Merlyn Gordon Webtrends John Lovett Merlyn Gordon john.lovett@webanalyticsdemystified.com merlyn.gordon@webtrends.com john.webanalyticsdemystified.com blogs.webtrends.com @johnlovett @merlyngordon© 2012 Webtrends, All Rights Reserved. 42|
  • 42. Webtrends Social Measurement Solutions Demonstrate the success of social marketing investments and brand engagement strategies The Three P’s for Success© 2012 Webtrends, All Rights Reserved. 43|
  • 43. Webtrends Social Measurement Solutions Demonstrate the success of social marketing investments and brand engagement strategies The Three P’s for Success Product© 2012 Webtrends, All Rights Reserved. 44|
  • 44. Webtrends Social Measurement Solutions Demonstrate the success of social marketing investments and brand engagement strategies The Three P’s for Success Product Practice© 2012 Webtrends, All Rights Reserved. 45|
  • 45. Webtrends Social Measurement Solutions Demonstrate the success of social marketing investments and brand engagement strategies The Three P’s for Success Product Practice Partners© 2012 Webtrends, All Rights Reserved. 46|
  • 46. Webtrends Unified Approach to Measurement Multi-channel Visitor-centric Open Real-time Performance at Scale Private & Secure© 2012 Webtrends, All Rights Reserved. 47|
  • 47. Please Follow Us Additional Webinar [Webinar] Developing a Framework for Social Measurement featuring Susan Etlinger of Altimeter Group http://understanding.webtrends.com/AltimeterSocialMeasurementWebinar Related Resources [Solution Brief + Data Sheet] Learn more about Webtrends Social Measurement: http://www.webtrends.com/products/analytics/social [Announcement] HootSuite Integrates with Webtrends to Connect Social Media Messages to Website Conversion Metrics. http://ow.ly/e9Nl2© 2012 Webtrends, All Rights Reserved. 48|
  • 48. © 2012 Webtrends, All Rights Reserved. 49|
  • 49. Thank you© 2012 Webtrends, All Rights Reserved.