Social Media Measurement by Daniel Backhaus at Infuz
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Social Media Measurement by Daniel Backhaus at Infuz

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Presented October 2nd at Digital East 2012 in the Advanced Social Media Track. ...

Presented October 2nd at Digital East 2012 in the Advanced Social Media Track.
Discusses the need for robust SM metrics while emphasizing the importance of rigorous analysis and sound business strategy as guiding principles for social media.

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Social Media Measurement by Daniel Backhaus at Infuz Social Media Measurement by Daniel Backhaus at Infuz Presentation Transcript

  • Social Media MeasurementDaniel Backhaus08/22/2012@InTheBackhaus#DEast12#DE12InfuzOctober 2nd, 2012 1
  • 01 SOCIAL MEDIA MEASUREMENT THE CHALLENGE02 SOCIAL MEDIA STRATEGY BEGINNING WITH THE END IN MIND03 WHAT TO MEASURE QUANTITATIVE AND QUALITATIVE METRICS04 ANALYSIS GETTING PAST DATA AND INFORMATION TO REAL INSIGHT05 EXAMPLE APPROACH TOOLS, TECHNIQUES AND SOLUTIONS
  • Interdependence is and ought to be as much the ideal of man as self-sufficiency. Man is a social being. Mahatma Gandhi01 SOCIAL MEDIA MEASUREMENT THE CHALLENGE
  • Social Media – It’s Like Free Advertising, Right? 4
  • There’s no Free Lunch and Other Facts of LifeTurns out, earned media has to be earned.Earning it is hard.And time-consuming.And expensive.And, like any other investment, it needs to be justified. And that requiresmeasuring it, assessing its effectiveness, its cost and ROI. 5
  • GDP vs. GNHGDP – like traditional ad buys – is familiar and based on hard dataGNH – like social media – is foreign, poorly defined and squishyMeasuring – and valuing – things like engagement, sentiment, influenceand affinity is difficultSocial media success – like happiness – will mean different thingsIt’s free, right? No, but like happiness, it can’t be bought 6
  • Web Metrics & AnalyticsMany large, sophisticated companies are just starting to get a handle oneffective Web Metrics & Analytics and few have truly mastered it.Lack of Tools?Lack of Data?Lack of Investment?Possibly, but doubtful. 7
  • Measuring SuccessMeasuring the impact of social media is just like measuring other onlineinitiatives only more so. Way more so, in fact.More Channels Many touchpoints, all interlinked, countless access pathsMore Interaction Interaction is the heart and soul of social mediaMore Data Each channel, every touchpoint, each interaction spawns data and then this data spawns more data.More Complexity The end result is vastly more complexity. This is what hinders meaningful measurement more than lack of data or tools. 8
  • Social Media Shifts Conversion Funnel to an Ecosystem 9
  • Social Media is Part of the Larger Ecosystem Track the path-to-conversion Identify optimal channel mix We monitor each consumer touch point to track the full path-to-purchase and identify the optimal channel mix 10
  • My Personal Social Media Universe
  • The Complete Social Media UniverseBy Brian Solisand JESS3v3.0 available athttp://jess3.com/the-conversation-prism-v3/
  • Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat. Sun Tzu02 SOCIAL MEDIA STRATEGY BEGIN WITH THE END IN MIND
  • Business Goals Should Drive Social Media Goals
  • Social Media Goals Should Drive Everything ElseSM Platforms A youth-oriented consumer brand will target different people on& Targeting different platforms than a financial services company. Likewise, your goals and objectives will also affect platform choice.Approach If your primary goal is to drive brand equity, your approach will be different than if you’re trying to generate leads or drive sales.Metrics Your choice of platforms, targeting, and approach will determine& KPIs relevant metrics and KPIs.Tools & Tool selection and organizational structure should be driven byStructure your situation, goals and needs. If you’ve done your homework, you will find suitable tools.
  • Which Platforms / Channels Are Most Important?Who Are Consider your business, the strength of your brand, the nature ofYou? your product or service, and your corporate culture.Who Are You Your target audience may affect your platform focus as well. TeensTargeting? will dwell in different places than mid-career professionals.What Are Your Are you looking to drive online transactions or build brand affinity?Goals? Effective and realistic goal-setting is crucial to proper targeting.What Can You Social media can be hard. And time consuming. Not to mentionSupport? expensive. Do you have the right resources and enough of them? Doing less, but better, will often deliver better results. 16
  • Measure what is measurable, and make measurable what is not so. Galileo Galilei03 WHAT TO MEASURE QUANTITATIVE & QUALITATIVE METRICS
  • Some Quantitative Social Media Metrics• # Facebook Fans • # Blog mentions • # YouTube subscribers• # Facebook Fan Pages • # Inbound links • # YouTube Comments• # Facebook Likes • # del.icio.us Bookmarks • # of reviews• # Facebook mentions • # diggs • # of Shares• # E-Mail subscribers • # Twitter followers • # Downloads• E-Mail Open Rate • # Twitter mentions • Earned / Paid Traffic• E-Mail CTR • # @mentions • Inbound links• E-Mail Forwards • Unique visitors • SERP rankings• Impressions • Unique commenters • Klout Score• Traffic • Registrations • # LinkedIn Followers• Page Views • visit / session length • # SlideShare Views 18
  • Some Qualitative Social Media IndicatorsHere’s where the squishy part comes in a lot of these will depend onwho you are, what your goals are, why you’re doing it, and who yourtarget audience is.Many qualitative insights can be derived from quantitative data but otherswill require surveys, research and benchmarking to ascertain: • Sentiment • Loyalty • Advocacy • Respect • Affinity • Influence • Tone • Authority • Preference • Engagement • Attitude • CredibilityKlout attempts to take these factors into account in their algorithm and,while imperfect, it is probably the best off-the-shelf proxy currently available. 19
  • It is much more difficult to measure nonperformance than performance. Harold S. Geneen04 ANALYSIS GETTING PAST DATA AND INFORMATION TO INSIGHT
  • People Over Technology 21
  • The More Things ChangeThe more they stay the same. When you’ve been around as long as I haveYou’ve seen most problems before and sometimes several times.Allow me to introduce you to Dr. Russell Ackoff, often referred to as thefather of modern systems thinking.“Managers who dont know how to measure what they want settle forwanting what they can measure.”
  • Evolving ain’t Easy or Optional Wisdom builds on our past to give us new Relationship Wisdom understanding and, by incorporating values, judgment and experience, the ability to predict. Principles Understanding is cognitive and analytical. It is Understanding the process by which one can synthesize new knowledge from what was already known. Causality Knowledge is information aggregated to a point Knowledge where it has meaning and purpose – the how Patterns Data becomes information when it has meaning and we understand Information context and relationship – the who, what, where, and when Relations Data Relevance Source: Ackoff, Russell L., "From Data to Wisdom", Journal of Applied Systems Analysis, Volume 16, 1989 p 3-9.
  • For every complex problem there is an answer that is clear, simple, and wrong. H. L. Mencken05 EXAMPLE APPROACH TOOLS, TECHNIQUES AND SOLUTIONS
  • Build Target Audience Profiles Based on Goals 3rd Party DataTarget Audiences Social Relevance 25
  • Refine Audience Profiles with Quantitative ResearchAudience research and insights will be used pre, during and postcampaign to inform creative and targeting strategies Search (Intent) Social Sharing (relevance) Geography Demographic Interests Website Affinities 26
  • Enhance Audience Profiles with Qualitative ResearchWe use surveys and more to collectqualitative data about: Awareness Stage in consideration process Intent to purchase Usage Sentiment towards brand Satisfaction with experience 27
  • Develop Experiences Based on Audience Profiles • Develop strategy, value proposition and user experience based on audience profile research • Develop communication strategy for the entire consumer lifecycle of each profile across channels • Develop a test roadmap to hone and perfect key business questions related to consumer messaging (tone, value proposition, offer, etc) • Test, measure, optimize Audience Profiles 28
  • Target Relevant Content Across Channels, Measure •The “P” shown above represents the tracking pixel being placed. This pixel allows us to monitor behavior and engagement. •The “T” shown above represents a tracking tag being included in the link. This tag allows us to monitor engagement. 29
  • Develop a Test Roadmap to Optimize Performance Test #1 Test #2 Test #3 Test #4 A V B A V B A V B A V B s. s. s. s. Audience Participant Influencer Lover Need / Motivation Difference / Value Offer / Incentive Anxiety / Friction Imagery Copy Value Functionality % Lift % Lift % Lift % Lift + Conversions + Conversions + Conversions + Conversions 30
  • Analyze Engagement Across Digital ChannelsSet up and manage digital analytics to deliver insightsacross all digital efforts, including social media Audience: Insights on visitor demos, behaviors andsocial interactions Channels: Insights on channel traffic, engagement andconversions (SEO, Social, Website analytics) Content: Insights about content, page flow and siteinteraction events Conversions: Insights and optimizations based ondefined goals and KPIs 31
  • Analyze Engagement Across Social ToolsDashboards monitor social chattervolume, sentiment, demographicsand influencers.Measure all social chatter• Monitor sentiment• Identify influencers• Align social with online sales• Monitor social impact on sales 32
  • Compile Data into Executive DashboardsWe create custom data dashboards foreach management layer to integrate onlinedata sources with offline sales data and/orcustomer data. Customization: Set up custom views ofdata sources for key stakeholders Integration: Monitor trends betweenonline and offline activities Distribution: Easily distribute the dataamong your organization without the needfor platform access / logins 33
  • Example of a Custom Tool: STL Tweets www.STLTweets.com 34
  • Example of a Custom Tool: STL Index www.STLIndex.com 35
  • Example of a Custom View / Report: STL Index http://report.stltweets.com/ 36
  • Example of a Custom View / Report: STL Index http://report.stltweets.com/ 37
  • Thank you!Daniel BackhausVP, Marketing@inTheBackhausDaniel.Backhaus@infuz.com404.819.2694www.infuz.com 38