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

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Learn How to Use Metrics to Prove Social Media ROI Success

Learn How to Use Metrics to Prove Social Media ROI Success

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

    • © 2012 Webtrends, All Rights Reserved.Using Metrics to Prove SocialMedia ROI Success
    • © 2012 Webtrends, All Rights Reserved. |2Introductions@John LovettSenior PartnerWeb Analytics DemystifiedJohn Lovett is a Senior Partner at WebAnalytics Demystified, Inc. and the author ofSocial Media Metrics Secrets (Wiley, 2011).A former Forrester Research Analyst andcurrent Vice President of the Web AnalyticsAssociation, John blogs about web analyticsindustry trends, strategy, business culture, andsocial analytics.Merlyn GordonSr. Product Marketing ManagerWebtrendsMerlyn has spent the last decade helping leadingbrands succeed with digital marketing, social CRM,and multi-channel measurement solutions.He is currently responsible for product marketingactivities related to Webtrends’ digitalmeasurement solutions, including site, mobile andsocial analytics.
    • © 2012 Webtrends, All Rights Reserved. |3Follow Today’s DiscussionFollow Today’s Discussion#WTwebinarQ & A SessionType questions into BrightTALK
    • • 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.comAbout Web Analytics Demystified#Wtwebinar @johnlovett4
    • About Web Analytics Demystified#Wtwebinar @johnlovett5
    • The Four Categories of Social AnalyticsFoundational MeasuresCounting MetricsBusiness Value MetricsOutcome Metrics#Wtwebinar @johnlovett6
    • Counting Metrics Can Get You Started
    • Counting Metrics Are Usually FREE‣ These are the most basic and readily availablemetrics 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 helpfulfor sizing your audience#Wtwebinar @johnlovett8
    • Collaborate to Find Business Value‣ Business Value metrics are calculated to alignsocial 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 yoursocial media metrics is a CRITICAL task#Wtwebinar @johnlovett10
    • Business Value Metrics for Executives#Wtwebinar @johnlovett11
    • Business Value Metrics for Sales, Service &Marketing#Wtwebinar @johnlovett12
    • Don’t Forget Why You’re in Business
    • 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 toconnect social programs to customers#Wtwebinar @johnlovett14
    • Identifying Social Media Outcomes
    • Outcomes Need Associated Metrics …#Wtwebinar @johnlovett16
    • Social Media Foundational Measures‣ Gaining buy-in and creating metrics is the hardwork; 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 andFoundational Measures can help#Wtwebinar @johnlovett17
    • Foundational Measures are building blocks.Without them you get ChaosFoundational Measures are building blocks.Without them you get Chaos
    • Foundational Measure Calculations#Wtwebinar @johnlovett19
    • The Four Categories of Social AnalyticsFoundational MeasuresCounting MetricsBusiness Value MetricsOutcome Metrics#Wtwebinar @johnlovett20
    • • Counting Metrics =– Tweets, Contributors, Reach• Outcome Metrics =– “Amplification”• Business Value Metrics =– Referrals, Conversions, RevenueMeasuring Customer Acquisition on Twitter#Wtwebinar @johnlovett21
    • Twitter Counting MetricsData Source: TweetReach#Wtwebinar @johnlovett22
    • Twitter Counting MetricsData Source: TweetReach#Wtwebinar @johnlovett23
    • Outcome Metrics Usually RequireExporting Data...#Wtwebinar @johnlovett24
    • Calculating Outcomes: Twitter– Amplification is a relative number that should beevaluated in context#Wtwebinar @johnlovett25
    • Assessing Business Value• Business Value comes from integrating data• Assess your social activities by importing socialdata to your analytics tool:– Website Referrals from Twitter– Conversions events from Twitter– Revenue from Twitter#Wtwebinar @johnlovett26
    • 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?#Wtwebinar @johnlovett27
    • Engaging Fans on Facebook• Counting Metrics =– Likes, PTAT, Total Reach• Outcome Metrics =– “Engagement”• Business Value Metrics =– Campaign Response Rate, Loyalty, Advocate Impact#Wtwebinar @johnlovett28
    • • Only 6% of fans engage with brands on Facebook*• More Likes Engagement• Fans “engage” otherfans...• *According to a new study by Napkin Labs• http://mashable.com/2012/10/18/facebook-fan-engagement-2/Counting on Engagement#Wtwebinar @johnlovett29
    • Facebook Counting MetricsData Source: Facebook Insights#Wtwebinar @johnlovett30
    • Facebook Counting MetricsData Source: Facebook Insights#Wtwebinar @johnlovett31
    • Exporting Facebook Insights Data#Wtwebinar @johnlovett32
    • Correlating Outcome Metrics#Wtwebinar @johnlovett33
    • Correlating Outcome Metrics#Wtwebinar @johnlovett34
    • Correlating Outcome Metrics#Wtwebinar @johnlovett35
    • • How are you defining Engagement?– Do you have Engagement defined by channel?– Are you comparing cross-channel social Engagement?– Do your colleagues understand Engagement?Establishing Your Foundational Measures#Wtwebinar @johnlovett36
    • • Business Value = what’s important to your brand• Communicate the value of social activities inlanguage that your peers understand:– Loyalty– Customer Satisfaction– Sales at-the-shelfCommunicating Business Value#Wtwebinar @johnlovett37
    • • Interpret your data• Provide business context• Offer insights and recommendationsProducing Analysis & Insight#Wtwebinar @johnlovett38
    • Bonus Metric!Foundational MeasuresCounting MetricsBusiness Value MetricsOutcome Metrics#Wtwebinar @johnlovett39
    • The Most Important Metric is UsuallyHardest to Quantify ...ImpactFoundational MeasuresCounting MetricsBusiness Value MetricsOutcome Metrics#Wtwebinar @johnlovett40
    • Insights from Web Analytics Demystifiedwww.webanalyticsdemystified.comSenior Partner, Web Analytics Demystifiedwww.socialmediametricssecrets.comJohn@webanalyticsdemystified.com@johnlovettJohn Lovett
    • © 2012 Webtrends, All Rights Reserved. |42Questions?Q & A SessionModerated by Merlyn GordonWebtrendsJohn Lovettjohn.lovett@webanalyticsdemystified.comjohn.webanalyticsdemystified.com@johnlovettMerlyn Gordonmerlyn.gordon@webtrends.comblogs.webtrends.com@merlyngordon
    • |43© 2012 Webtrends, All Rights Reserved.Webtrends Social Measurement SolutionsDemonstrate the success of social marketing investments and brand engagement strategiesThe Three P’s for Success
    • |44© 2012 Webtrends, All Rights Reserved.Webtrends Social Measurement SolutionsDemonstrate the success of social marketing investments and brand engagement strategiesThe Three P’s for SuccessProduct
    • |45© 2012 Webtrends, All Rights Reserved.Webtrends Social Measurement SolutionsDemonstrate the success of social marketing investments and brand engagement strategiesThe Three P’s for SuccessProduct Practice
    • |46© 2012 Webtrends, All Rights Reserved.Webtrends Social Measurement SolutionsDemonstrate the success of social marketing investments and brand engagement strategiesThe Three P’s for SuccessProduct PartnersPractice
    • |47© 2012 Webtrends, All Rights Reserved.Webtrends Unified Approach to MeasurementMulti-channelVisitor-centricOpenReal-timePerformance at ScalePrivate & Secure
    • © 2012 Webtrends, All Rights Reserved. |48Please Follow UsAdditional Webinar[Webinar] Developing a Framework for Social Measurement featuring SusanEtlinger of Altimeter Grouphttp://understanding.webtrends.com/AltimeterSocialMeasurementWebinarRelated 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 MediaMessages to Website Conversion Metrics.http://ow.ly/e9Nl2
    • © 2012 Webtrends, All Rights Reserved. |49
    • © 2012 Webtrends, All Rights Reserved.Thank you