Social Media Monitoring and the Spectrum of online relationships

Social Media Monitoring and the spectrum of online relationships. UNAWARE ENCOUNTER SPECTATE APPRECIATE COLLECT ACTIVE FOLLOW ACTIVE INTEREST SHARE ASSETS IC DIALOGUE PUBL TE DIALOGU PRIVA E ADVOCACY VESTMEN IN T EXPOSURE ENGAGEMENT COLLABORATION ENGAGEMENT EXPOSURE W es n h a r e wi s ds We u nc Ie e iles fee yo I am bsit I sh ou ing s We exc r age DM er y f o l l ow I po xc rof s, s, are e we ha ha IM te int cov nge dp e , pr i vat e email st T ng si b we ur pu ere yo e dis an I bo bli s, yo har co ur wi cm te st file s nt si tal t te essage via pro on ed us ok en s b we en tb rr ure yo nt e in ma yo y re own Iv ur m id ep es publis om hin g on my rk ult cc ide ts a alu li ,c ,c gh se as, yo /c e om har e et rese ou as co es ur lin ar ch the links you s Ie me hr ad he nt et at nt lo on xp nt en av eb on wn co d tl ou h er en the e oc y do to av s ame e ie e ty all x t e rnal pos t s eds , ns nc le ou ya u co nt cre nd o S fe u tio yo Ih nline, RS ib ils en ate s u b s cr i b e t o y o u r ntr il e av to and o t ra of e rc the i ur c the rp r fo om deas yo c t yo of o un dy me nts u s hare, I respe ce nt ou crea ican nte for t ed by ignif co the you o r not ice t he s you r first k to t ime, seen you r signatur e or a lin No ce link sten s cur r ex i rent ly e x i s t , I do n’ t k n ow o f yo u Inspired by Mike Arauz’s Spectrum of Online Friendship and comments by Simone Lovati http://davidjcarr.wordpress.com

Social Media Metrics Relationship Category Relationship Stage Underlying Attitude and Measurement Tools No links currently exist, I don’t Total potential social media INACTIVE UNAWARE know of your existence audience for your brand/segment Number of Natural Search Result I have found you for the first time, Listings | Google Blog Search results seen your signature or a link to your | Technorati Rankings | Alexa ENCOUNTER content or profile, encountered the Rankings | Link backs | Reach and reach of your ideas Exposure of first generation seeded/paid placements EXPOSURE I experience content or CTR generated by first generation comments created by you or notice seeded/paid placements | Unique SPECTATE the significance of the trails profile and page impressions | you leave online Blog visitors | Video views Diggs | Votes | Recommends | Likes | I value the content you create and User Ratings | Qualitative research APPRECIATE the ideas you share, I respect your interviews | Dynamic Logic surveys | contributions to debates/culture Brand tracking scores | Repeat profile and page impressions Number of times your content is favourited | Type of tags created by I bookmark your content locally and people | number of saves to Social COLLECT online, subscribe to your RSS feeds, Bookmarking sites | RSS subscribers download assets you share | Podcast, Vodcast, PDF or jpeg views/downloads | Number of Google Reader views I post Twitter replies, comment on Fans, Friend & Follower numbers | ACTIVE FOLLOW the same external posts you have Google Friend Connect Subscribers through accidental discovery Positive/Sentiment tracking | Content Tone | Content Emotions, I am interested in your ideas, Share of voice | Daily Volume of actively research the links you mentions | Forum posts | ACTIVE INTEREST share, comment on your website, Discussions | Wall Posts, URL ENGAGEMENT mention you in the course of my shortening reports | @replies to social or online activity Tweets | Comments on status updates | Comments on posts STAF | Blog Reposts | ReTweets (Number of Tweets and their Reach in ‘000s) | Links shared in Social I share your content by republishing feeds (Facebook, Friendfeed) | on my own websites and profiles, Widget embeds | Badges used on SHARE ASSETS use your content and ideas to add profiles | Tumblr reposts | Alexa or value to my network Technorati ratings of external sites featuring your generated assets | CTR generated by shared/passed on placements Number and sentiment of We exchange public messages via spontaneous public Direct Messages PUBLIC DIALOGUE (DMs) | Video Responses created | profiles, websites, feeds Blog Post responses created Panel research | Focus Groups | PRIVATE DIALOGUE We exchange private email, Surveys | Interviews | Customer IMs, DMs Service Activity I encourage following & getting Perception shifts | Conversion Uplift | COLLABORATION ADVOCACY involved with you, I encourage Leads Generated | Network Growth | people to buy your products Sales uplift | Increase in HVCs | Net Promoter Score INVESTMENT We share wins Partnerships created

An approach to Social Media Monitoring and measurement based on the spectrum of online relationships Increasingly the value of an idea is not in its initial direct exposure, blog mention or spot/insertion in a publication, but in the value or social currency it provides to the audience. This social oxygen value enables the idea to spread socially. Social Media campaigns are uniquely measurable but not all measures are equal and indicate true effectiveness. Different social media actions or online conversations have different values and influences upon consumer behaviour. Multiple metrics, from number of followers and fans, to positive or negative sentiment, to reposts and influencer mentions, can be difficult to distinguish from one another. In effect we can become trapped in a state of analysis paralysis where there is too much social media data and too little understanding. An agreed industry standard is needed but, until a consensus arises, we have developed a structure to categorise the value of different monitoring tools/metrics and start building an measurement and tracking model. Categorising social media activity this way means it is possible to take a holistic approach and use aggregates of the different monitoring techniques – and metrics that will vary according to the nature of every campaign and its platform type – to compare the performance between each category and hence work out the relative success of the social media activity. The ultimate goal of this approach is to be able to compare the effectiveness of different social media campaigns when comparing like with like is often difficult. Using this structure means that the results of the Exposure, Engagement and Collaboration categories can be compared to identify performance and trends. I’ve arrange an example of this way of thinking as an equation (which is sure to attract the wrath of Anna O’Brien who rightly points out the falseness of the different social media “ROI metrics” and silly equations out there) but it is not meant to be a magic bullet or mathematically sound – it is a visual way of structuring thinking about the principles at play. For example, one measure of a social media campaign’s momentum – Social Media Traction – would be to compare the ratio of Engagement performance to Exposure performance where a +1 would indicate success and social media momentum as people moved from being merely exposed to a campaign to becoming more engaged. Any measure/inputs of Exposure or Engagement (or even Collaboration) would differ for each campaign and organisation – as I said earlier the idea is to simplify the different effectiveness measures and monitoring techniques so comparisons can be made and trends identified. SOCIAL MEDIA ENGAGEMENT = SOCIAL MEDIA TRACTION SOCIAL MEDIA EXPOSURE ∑ ( ( ) ) ) NUMBER OF FANS, X 4* + X NUMBER OF SHARED SUBSCRIBERS, BALANCE OF BOOKMARKS, LINKS FRIENDS AND SENTIMENT & ASSETS FOLLOWERS = SOCIAL MEDIA TRACTION ( FIRST GENERATION PLACEMENTS X ( REACH X OTS ) ) * Visits from shared links can convert up to 4x more than paid media – Razorfish Study Equally using this approach to define Social Media Conversion and Advocacy would require a focus on activity and metrics within the Collaboration category. Indeed, the ratio between Engagement performance and Collaboration performance could be seen as being an indicator of people moving from discovering, sharing and “playing” with content to acting upon it – whether making it their own passion or hopefully even changing purchasing behaviour. Ultimately this proposed approach to Social Media monitoring/measurement will need to be linked back to ROI. Can we prove whether good results in either category – or a good Social Media Traction or Social Media Conversion and Advocacy score – can relate to a lower Cost per Acquisition or an increase sales? This will require someone much better at maths than me but I believe that some agreed structure and model is vital to proving the long term value of social media and the real web to the board and CFO.

Social Media Monitoring and the Spectrum of online relationships

by David Carr on Jan 18, 2010

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Social Media Monitoring and the Spectrum of online relationships — Document Transcript