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Measuring Social Media Effectiveness

Measuring Social Media Effectiveness



Presented at Social Media Plus, May 25th in Philadelphia

Presented at Social Media Plus, May 25th in Philadelphia



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  • 3. after slide 8   Which of these best describes your use of social media monitoring?   not familiar with social media monitoring tools   using free tools and not familiar with professional tools   using free tools and familiar with professional tools   using free tools and professional tool(s)   using professional tool(s) only
  • Consultative High level product information Industry expertise Support advanced training Up Sell / Cross Sell

Measuring Social Media Effectiveness Measuring Social Media Effectiveness Presentation Transcript

  • Measuring Social Media Effectiveness Connie Bensen @cbensen Social Media Plus May 25, 2010
  • Agenda
    • The New Measurement
    • Tools & Ownership
    • Five Step Process
    • Metrics & Key Performance Indicators
    • Case Studies
  • Everything is Measurable
  • Your Site Web Analytics Twitter Blogs Wikis Facebook LinkedIn Message Boards YouTube
  • Opportunities of Monitoring Social Media Brand Audit Time Engagement Corporate Marketing Public Relations Competitive Insight Product Development Search Engine Optimization Customer Service Social Media Campaigns Sales – Lead Gen
  • Tools ???
  • Social Media Monitoring Tools Blogs Google Alerts, Yahoo Alerts Comments Backtype Message Boards Board Reader, BoardTracker Twitter TweetBeep, TwitterSearch Social Bookmarking StumbleUpon, Digg, Reddit, Delicious Social Media Search Engine SocialMention, Serph, Keotag
  • Social Media Monitoring Tools (continued) Multimedia Search YouTube, Flickr Custom Feed Social Media Firehose (Yahoo Pipes) Professional Tools Trackur, Techrigy SM2, Radian6, Visible Technologies Website Traffic Google Analytics, Quantcast, Alexa, Compete Blog Traffic & Backlinks Technorati, Wordpress Dashboard Netvibes
  • The SM2 Technology Components Collect Alterian SM2 indexes the entire social media universe, across the globe and across all platforms. Store Alterian’s Social Media Warehouse SM , created in 2007, contains over 5 billion social media mentions, blogs, tweets, posts, images and conversations. Understand An incredibly powerful and intuitive tool, the AlterianSM2 User Interface enables clients to visualize, analyze, communicate and share findings. Turn content into actionable insight. Over 5 Billion Results
  • Who Should do This?
  • Holistic Approach
    • Measurement
  • 5 Steps to Success
    • Listen using a comprehensive tool
    • Decide on Objectives & Plan Strategy
    • Objectives will Define Metrics
    • Benchmark & Execute
    • Measure, Report & Refine
  • 1. Listen
    • Consider:
    • Daily Volume
    • Social networks being used
    • Locations of communities online & offline
    • Sentiment & Tone
  • Daily Volume
    • How much are
    • people talking
    • about your
    • brand?
    • 6 months: 137, 113
    • Trending avg: 732/day
  • Volume: Social Channels
    • Where are they
    • talking?
  • Where are conversations taking place online?
    • Focus on places consumers are most active.
    • Plan your strategy.
  • Where does your audience reside? Identify new stakeholder groups. Grow membership base.
  • How do consumers feel about your brand?
    • Find out what they do or don’t like...
    • and who’s letting you know.
  • How polarized are the conversations?
  • 2. Choose Objectives - Value and ROI Use Case Value/ROI Brand Audit Identify opportunities in Social Media Social Media Campaigns Measure progress of Social Media efforts Corporate Marketing Increased sales & rate of return on ad spend Customer Service Increased satisfaction, brand loyalty, awareness Competitive Insight Identify differentiating features & innovate Public Relations Efficient use of time & identify influencers Sales – Lead Generation Increased sales & shortened sales cycle Search Engine Optimization More effective SEO & organic visibility Product Development Reduced market research costs HR Reduced hiring costs & less churn
  • 3-4 Define Metrics and Benchmark
    • Goals will meet the objective(s)
    • Percentage increase or decrease of desired results
    • Examples:
    • 15% increase in word of mouth
    • 10% decrease in demand on call center
    • 5% increase in leads from social channels
    • 15% cost reduction in product development costs
    • Benchmarking sets the stage.
  • Potential Goals
    • Bring outside ideas into organization
    • Generate more word of mouth
    • Increase customer loyalty
    • Increase product/brand awareness
    • Improve new product success ratios
    • Improve public relations effectiveness
    • Reduce customer acquisition costs
    • Reduce customer support costs
    • Reduce market research costs
    • Reduce product development costs
    • Tip – Choose 1 or 2 to start with
  • 5. Monthly Reporting
    • Report on Objectives
      • established from goals of the position
    • Qualitative
      • Trends in members, topics, discovery of new communities
    • Quantitative
      • Benchmark based on previous report
    • Web Analytics
      • unless someone else is tracking them
    • Recommendations
      • Based on interactions with customers
  • Comparing Volume Blue is specifically about Tiger Represent a specific proportion of total conversations
  • Customized KPI’s
    • Social Reach Indicators
    • Alterian generated content
    • views on Slideshare, whitepaper downloads
    • Blog subscriptions
    • Community Health Indicators
    • Volume of conversations about Alterian products
    • Social Influence/Reputation Indicators
    • Reach of participation in:
    • speaking, training customers/staff, collaborations
  • Techrigy’s Value and ROI of a Twitter engagement
    • After 3 months - Customer base increased by 57%
      • Eliminated cold calling
      • Multiple demo and pricing requests per day
      • Increased sales staff
      • Established brand visibility
    • After 6 months: Increased by 269%
      • Freemiums converting without
      • entering sales funnel
      • Techrigy acquired by Alterian
    • At 1 year: Increased by 840%
      • expanding Twitter engagement
      • across the enterprise
  • Increasing Customer Engagement by Listening
    • 9 sites across Texas
    • 18,000 staff, 90,000 patients
    • www.mdanderson.org
  • Background
    • Started monitoring in 2007 using free tools
    • Monitored online conversations about:
      • Cancer experiences
      • Online discussion of their treatment
      • Their brand and cancer related topics
      • The communications they were creating
    “ Our desire to get closer to patients and the general public online, and engage with those who were socially connected, meant we had to be able to monitor a much larger number of sources”. Jennifer Texada
  • ROI of Patient Referral at MD Anderson
    • Campaign goal:
    • To increase the number of doctors who registered with the hospital’s online electronic medical records system and in turn increase the number of patients referred.
    • Tracked spread of campaign using SM2 and web analytics
    • Noted a 9.5% increase in patient referrals in 3 months
    • “ This was a real eye-opener to how social media could
    • benefit the business,” Texada said. “We could see which
    • activity made most impact and which spread fastest.”
  • Evaluating Public Education
    • Strategy planning
    • Used SM2 to review historical data
      • Decided to not run the same Prostate Cancer Awareness program
      • They ran a more general campaign on men’s health
        • Healthy eating
        • Eating on a budget
        • Exercise
      • Resulted in significantly more traffic
  • Resources
    • ROI Series of 10 white papers – http://AlterianSM2.com
      • Freemium version of SM2 http://socialmedia.alterian.com/
    • Groundswell by Charlene Li and Josh Bernoff
    • Measuring Public Relationships by Katie Delahaye Paine
    • Putting the Public Back in Public Relations by Brian Solis & Deidre Breakenridge
    • Personality Not Included by Rohit Bhargava
    • Trust Agents by Chris Brogan & Julien Smith
    • Connie Bensen
    • @cbensen
    • [email_address]
    • communitystrategist.com
    • Director of Community Strategy, Alterian