Measuring Social Media Marketing

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Come hear about some of the new challenges with measuring social media marketing including word-of-mouth, comments on blogs, connections in social networks, questions in support forums, and tags on online media. Learn about where to focus online marketing efforts as the social Web grows in importance over the coming years.

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Measuring Social Media Marketing

  1. 1. Measuring Meaning, Creating Value from data to action in social media Jason Burby Ryan Turner Chief Analytics and Optimization Officer Social Media Lead jasonb@zaaz.com ryant@zaaz.com © 2008 ZAAZ, Inc. All rights reserved. Confidential information.
  2. 2. Jason = Measurement Ryan = Social Media
  3. 3. Other places you can find us: www.websocialarchitecture.com www.amazon.com
  4. 4. We work at ZAAZ
  5. 5. Performance-Driven Design WE BELIEVE SUCCESS DOESN’T HAPPEN BY ACCIDENT. IT REQUIRES A UNIQUE COMBINATION OF LOGIC AND CREATIVITY TO ACHIEVE YOUR ONLINE OBJECTIVE. MORE THAN JUST A VIVID IMAGINATION, CREATIVITY IS EXPRESSED THROUGH INNOVATIVE THINKING, COMPREHENSIVE ANALYSIS TO CONTINUOUSLY IMPROVE YOUR RESULTS. WE CALL IT PERFORMANCE DRIVE DESIGN. IT WORKS. AND, YES, WE CAN PROVE IT.
  6. 6. Agenda • The Web is a social medium. • Focus on quality, not quantity. • Case studies. • Social media generates business intelligence. • Cultivate business intelligence. • Start with the basics. • Discussion.
  7. 7. THE WEB IS A SOCIAL MEDIUM
  8. 8. When we talk about social media, what we really mean is participation.
  9. 9. Some Context: Ryan’s Ten-Cent History of the Web Community-Focused Broadcast Participatory User-Generated Corporation-Driven User-Generated Bottom-Up Top-Down Bottom-Up HTML Data-Driven Standards-Driven High Threshold of Entry No entry Lower Threshold of Entry Low Bandwidth Flash intros! High Bandwidth Text-Based Text and Images Multimedia Collaboration Transaction Interaction 1980’s-1994 1994-2005 2005-Now
  10. 10. Web 2.0 and social media are social phenomena above all. Blogs Discussion Boards Forums Chat IM Vlogs SMS Podcasts Moblogs Microblogs Photo Blogs VS Prediction Markets RSS Collaboration Collective Intelligence Communities Wikis Recommender Systems Mashups User-Generated Content Social media is made up of people, relationships among people, and things people create and share
  11. 11. What Is Social Media
  12. 12. The tool-centric mentality has produced some of the worst marketing ever.
  13. 13. “Just because we understand tax code doesn’t mean we can’t bust mad flow.” --Intuit
  14. 14. People don’t want to connect with each other online.
  15. 15. But that’s not the whole story. People do want value.
  16. 16. “The purpose of a business is to create value for its customers, and the reward for doing so is profit.”
  17. 17. The long-term winners are the ones who create the most value, not the ones who convert the highest percentage of traffic. The winners create meaning. They make stuff that matters.
  18. 18. FOCUS ON QUALITY, NOT QUANTITY. Not how much stuff you have, but what kind of stuff. Not how many people show up, but how many come back. Not how many conversations, but their inherent intelligence. Not how many people listen to you, but how well you listen, how much you learn, and what you do about it.
  19. 19. “We’ve already got 100,000 registered users.”
  20. 20. “Our users have posted 2500 videos.”
  21. 21. Four Flavors of Social Media: Quality Questions 1. Monitoring and response  Where are your people, and what are they saying? 2. Social media products and services  How can you engage customers to co-create value around your core offering? 3. Integrated social tools  What doors can you open, enabling your customers to participate? 4. Intranet  What business value do your participants create?
  22. 22. How does this work in practice?
  23. 23. Quantity vs. Quality Measurements Quantity: Quality: • Visits • Active Members • Members • Average Rate of Participation • Number of • Positive Offsite Projects Blog Postings • Return Visitor %
  24. 24. Quantity vs. Quality Measurements Quantity: Quality: • My Beacon • Active My Activations Beacon Users (5x/month) • Learn about My • Avg. # of Beacon Visits Buddies per Active User • % Regular User vs. Heavy Users
  25. 25. Quantity vs. Quality Measurements Quantity: Quality: • Number of • % of Reviews “Helpful” 75%+ of reviews submitted the Time • Review Visits per Product Visit • % of Reviewers “Heavily Engaged” • Conversion Rate based on Review
  26. 26. Quantity vs. Quality Measurements Quantity: Quality: • Visits • Total MVP Activity • Page Views per • Total Comment Visit Prints • % Rating Experience “Helpful”
  27. 27. Quantity vs. Quality Measurements Quantity: Quality: We’ve already done a lot of great work. • Visits • Survey % - Expanded View • Page Views of MS Office • Comments capabilities • Survey % - helpful content • % Visits Downloading Templates
  28. 28. Quantity vs. Quality Measurements Quantity: Quality: • Raw comment • % of Votes counts Over/Under 100 words • Visits • % of “Recommend Comments” selected • Rate of Full Page Scrolls
  29. 29. Quantity vs. Quality Measurements Quantity: Quality: • Visits • % Return Voters • Ideas Submitted • # of Customer Ideas Implemented • # of Ideas with 20k+ votes • % with Dell Status Updates • # of Active Members
  30. 30. Quantity vs. Quality Measurements Quantity: Quality: • # of Ratings • Clickthroughs to BlendTec Site • Total Comments • Video Views • Active Subscriptions • “Favorited” Based on Views
  31. 31. THE BASICS ARE THE SAME Start with your goals. Get the right tools, and set them up right. Act on what you learn. .
  32. 32. Traditional Best Practices Still Apply
  33. 33. A plethora of tools are emerging to monitor online chatter, measure sentiment, and streamline the effort of engaging with customers.
  34. 34. Tools. There are a bazillion of them.
  35. 35. Every brand should build a programmatic approach to measuring and managing customer engagement online.
  36. 36. And it doesn’t have to take a huge budget. Or any budget!
  37. 37. SOCIAL MEDIA GENERATES BUSINESS INTELLIGENCE Social media, unlike broadcast and transactive media, is a two-way channel. Listen, don’t just talk. Don’t measure your social media marketing to improve your marketing— measure it to improve your business decisions. And get ready for higher-level exposure.
  38. 38. Integrating Data to Understand the Full Landscape
  39. 39. BUSINESS INTELLIGENCE IS HUMAN INTELLIGENCE Measurement tools can’t generate business intelligence, only data. People translate data into intelligence.
  40. 40. Where to begin? The social media inventory.
  41. 41. Measuring the Success of Social Media in terms of Value Defining Success – Where to Begin: • Create a list of key behaviors on your site. • Rank them by the amount of created value they reflect. • Group them into classes with scores.
  42. 42. Build a Value Index KPI #1 - ENGAGEMENT INDEX Active Participation Content Consumption 500,000 Site Engagement 400,000 300,000 Index 200,000 100,000 0 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 % Change Jan-Feb Nov-Dec LTD Avg Total Site Engagement Index [1] 111.1% 228,460 108,221 213,095  Active Participation Index [2] 301.4% 4,179 1,041 4,518  Success Events Details [Page Views] Rating 1083.3% 178 15 93  Login 180.8% 139 50 276  Registration 224.6% 106 33 78  Content Generation 376.2% 50 11 33  Tagging 366.7% 7 2 4  Comment Post 28.6% 5 4 5  Content Consumption Index [3] 109.3% 224,281 107,180 208,577  Success Events Details [Page Views] UG Doc Visit - Unqualified 130.5% 16,023 6,953 16,022  UG Doc Visit - Qualified 75.6% 11,845 6,745 9,797  Download 73.4% 2,034 1,173 2,254  Tier 1 Doc Visit - Qualified [4] 115.8% 1,606 744 1,415  Tier 1 Doc Visit - Unqualified [4] 90.5% 651 342 1,433  Forum Thread Visit 61.8% 89 55 98  Social Bookmark -46.0% 14 25 30  Email Signup -60.0% 1 3 5  RSS Signup 100.0% 1 1 3 
  43. 43. Methodologies for Success How to Monetize Corporate Social Media Behavior In order to monetize site behaviors we must understand the impact to the business. How do you translate visitor behaviors into financial benefits for the company? ANALYZING THE VALUE OF ENGAGEMENT ON A COMMUNITY SITE
  44. 44. Methodologies for Success “MONETIZING” BRAND VALUE: A “TOKEN” EXAMPLE
  45. 45. But monetization doesn’t tell the whole story.
  46. 46. What is the ROI of a blog post that saves your business?
  47. 47. START WITH THE BASICS
  48. 48. Summary • Focus your measurement on quality. • Create meaningful experiences. Add value. • Build a picture of your social media ecosystem • Build the right reporting systems • Operationalize your business intelligence • Cultivate your human intelligence
  49. 49. Discussion Jason Burby Ryan Turner Chief Analytics and Optimization Social Media Lead, ZAAZ Officer, ZAAZ ryant@zaaz.com jasonb@zaaz.com

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