Socialmediaperformancemeasurementandbusinessimpactjune2010 100615145909-phpapp01

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  • 1. Social Media Performance Measurement and Business Impact Dr. Jim Hamill and Alan Stevenson www.energise2-0.com [email_address] June, 2010
  • 2. Performance Measurement
    • Social media can be ‘cool and funky’ ...... but it should also deliver ROI and positive business impact
    • Your social media strategy should be:
      • fully aligned with and supportive of overall business goals and objectives
      • driven by agreed business objectives, KPIs and targets
    • On-going performance measurement benchmarked against agreed objectives is critical
  • 3. Performance Measurement
    • Should be undertaken at four main levels....
    • Web 1.0
    • Web 2.0 (Individual Channels)
    • Web 2.0 (Overall ‘Buzz’)
    •  
    • Business Impact
  • 4. Web 1.0 KPIs
      • Site visits
      • Unique visits
      • Geographical spread of visits
      • Length of time spent on the site
      • Navigation through the site
      • Most/least popular pages
      • Number and quality of site enquiries
      • e-mail registrations
      • e-commerce sales
      • U ser feedback on the site
      • Links
  • 5.
    • Web 1.0 measures are still
    • important....... but in a social media era, new performance measures are required
  • 6. Social Media KPIs
    • There will be ‘winners’ and ‘losers’ in social media. ‘Winners’ will be those companies who fully utilise the interactive power of 2.0 technology for building strong ‘1-to-1’ customer and network relationships
    • Those who fully leverage social media for Identifying, Acquiring, Retaining and Growing ‘Quality’ Customers
    • In a social media era, the key drivers of future business success are:
      • Network quality
      • Relationship strength
      • Ability to leverage
  • 7.
    • The Four I’s
  • 8. The Four I’s
      • Involvement – number and quality of people in your various online networks/communities
      • Interaction – actions they take – read, post, comment, reviews, recommendations
      • Intimacy – affection or aversion to the brand ; community sentiments, opinions expressed etc
      • Influence – advocacy, viral forwards, referrals and recommendations, social bookmarking
  • 9. The Four I’s
    • Can be measured at two main levels.....
    • Individual Social Media Channels/Platforms – the effectiveness/success of each social media channel you use benchmarked against agreed targets
    • Web 2.0 (Overall ‘Buzz’) – your organization’s performance or ‘presence’ in the wider social media landscape
  • 10. Social Media Monitoring Tools
    • Emerging Social Media Monitoring Tools
    • allow your organisation to monitor online
    • conversations about your brand, the overall
    • ‘ buzz’ being created by your social media
    • activities , who is talking about your brand,
    • where on social media and the sentiments being expressed.... later
    •  
  • 11. Web 2.0 – Individual Channels
    • Most social media channels/platforms provide statistics which allow you to monitor/evaluate the ‘Four I’s’ to a high degree of accuracy
    • Some examples......
  • 12. Cafe Gandolfi
  • 13. Cafe Gandolfi
  • 14. Cafe Gandolfi
  • 15. United Breaks Guitars
  • 16. United Breaks Guitars
  • 17. United Breaks Guitars
  • 18. www.energise2-0.com
  • 19. www.energise2-0.com
  • 20. www.energise2-0.com
  • 21. www.linkedin.com
  • 22. www.linkedin.com
  • 23. www.linkedin.com
  • 24. Twitter
    • www.klout.com
  • 25. Twitter
  • 26. Twitter
  • 27. Twitter
  • 28. Twitter
  • 29. Twitter
  • 30. Merchant City – Twitter Performance
  • 31. Merchant City – Twitter Performance
  • 32. Merchant City – Twitter Performance
  • 33. Merchant City – Twitter Performance
  • 34.
    • Social Media Monitoring Tools
  • 35. Social Media Monitoring Tools
    • Monitor and evaluate what is being said, by who, where and what impact – delivers actionable insights
    • Three stage process
      • Aggregate what is being said
      • Natural language analysis – understand the data
      • Deliver actionable insights
    • We have identified more than 100 Companies in this space
  • 36. Social Media Monitoring Tools
  • 37. What they offer
    • Search and relevance filters
    • Further categorisation and tagging
    • Assign Events to the Social Graph
    • A variety of channels: web, news, blog, twitter
    • Mention Volume, Importance and Demographics
    • Analyse sentiment or tone
    • Analyse date parameters
    • Updates as they happen
  • 38.
    • Some Tools Are Free but
    • Relatively Unsophisticated
  • 39. Google Alerts
  • 40. Social Mention
  • 41. Trackur
  • 42.
    • Others Are Expensive but
    • Highly Sophisticated
  • 43. Social Radar
  • 44. Social Radar
  • 45. Social Radar
  • 46. Social Radar
  • 47. Social Radar
  • 48. Social Radar
  • 49. Social Radar
  • 50. Social Radar
  • 51. Social Radar
  • 52.
    • Business Impact
  • 53. Business Impact
    • The ‘Four I’s’ are ‘Lead’ rather than ‘Lag’ measures i.e. they are the main drivers of future business success NOT strategic goals in their own right
    • Your social media strategy should be driven by agreed business objectives......
      • Marketing/communications effectiveness
      • Marketing/ communications efficiency
      • Marketing/communications ROI
      • Customer acquisition, increased sales
      • Brand awareness
      • etc
  • 54. Business Impact
    • Recommend the use of a Balanced Scorecard approach to ensure that your social media activities are fully aligned with and supportive of overall business goals and objectives
  • 55. SM Strategy Development
    • Strategic objectives
    • Targets
    • Key performance indicators (KPIs)
    • Customer segments
    • The key social media actions and initiatives required for ‘getting there’
    • Organisational, people and resource issues
    • Ensure that your social media strategy is fully aligned with and
    • supportive of your overall strategic goals and objectives with
    • clear targets and ROI criteria
    • Social Media Strategy Map
  • 56. Social Media Strategy Map
  • 57.
    • Thank You
  • 58.
    • Continue the discussion at
    • www.energise2-0.com
    • www.web2-0cpd.com
  • 59. www.web2-0cpd.com