iLive 2013 - Luke Brynley-Jones Understanding Social Media Measurement: Knowing, what you can measure and what you can’t

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  • Monitoring = for Research or EngagementMeasurement = for Evaluation
  • The key to social media success is measurement.
  • The sheer number of social networks…WhatsApp in January processed 18 billion messages a day. SnapChat users sent more than 60 million photos each day.Path is adding 1 million new users per week.
  • Vanity statistics# of fans, followers, friends, contactsThere is SOME value – but the value is in what you do with them.
  • Difficult to quantify:Reach – how many people saw it, paid attention, what impact did it have?Influence – how much do people listen to this person? What impact do they have? Is it just reach? Klout / Kred / PeerindexSentiment – 50% accurate, but useful for spotting crises and for customer service
  • How to measure “engagement”Facebook already does this using EdgeRank - .e. Share / Comment / Like / ClickTo do this properly – you need to measure it per fan/follower (e.g. Social CRM)A general figure can be indicative.
  • Facebook announced a few months back that they has made a mistake in the
  • In strict measurement terms – if you cannot make a direct causal relationship, you don’t have a workable model.Using awareness metrics to deliver ROI won’t work.Using relationship metrics to deliver Awareness won’work
  • Awareness – always a by product of activity. But is it enough to justify your time?
  • Best Buy save $5 million per month on customer support
  • Tying your metrics to business goals.
  • Tying your metrics to business goals.
  • Tying your metrics to business goals.
  • Make sure you stick to the same tools!

Transcript

  • 1. Understanding Social MediaMeasurementKnowing what can and what can’t bemeasured
  • 2. Social Media Measurement Goggles
  • 3. 1. Why Measure Social Media?2. The Challenge of Measurement3. 5 Steps to Measurement Success
  • 4. Monitoring vs MeasurementFor the purposes of today:Social Media Monitoring is the process of observingsocial media data in order to gain insight from, orrespond to, conversations about a specific topic.Social Media Measurement is the act of recording andanalysing the results of social media activities with thegoal of evaluating performance.
  • 5. Why Measure?
  • 6. “In God we trust.All others mustbring data”.W. Edwards Deming
  • 7. The Challenge of Measurement
  • 8. “Is Facebook playing with us?”
  • 9. http://blogs.adobe.com/digitalmarketing/analytics/2012-holiday-shopping-recap/Can you track and attribute sales?
  • 10. “Zero Moment of Truth”
  • 11. Now explain it to them?
  • 12. 5 Steps to Successful SocialMedia Measurement
  • 13. 1) Separate out your goalsAwarenessMeasured by brandrecognition, recallRelationshipMeasured bycloseness tocustomers, NPS, advocacyFinancialbenefitROI or reducedexpenditure
  • 14. ROI is the easy partAre you making more money than you are spendingon social media?IncomeCash revenue + direct cost savingsExpenditureYour time + direct expenditure + resourcesAsk the right question:minusWhat’s the ROI of [activity x] in Q1 of 2013?
  • 15. Month All Traffic Social Media % SalesOct-11 673918 220 0.03% 1Nov-11 637519 127 0.02% 3Dec-11 654046 182 0.03% 0Jan-12 696009 4482 0.64% 16Feb-12 642625 9214 1.43% 41Mar-12 807200 7433 0.92% 43% website traffic and sales referred bysocial media
  • 16. Referral traffic value (ROI)Month All Traffic Social Media % PPC value*Oct-11 673918 220 0.03% £440Nov-11 637519 127 0.02% £254Dec-11 654046 182 0.03% £364Jan-12 696009 4482 0.64% £8,964Feb-12 642625 9214 1.43% £18,428Mar-12 807200 7433 0.92% £14,866*Based on Google Adwords typical cost per click for selected keywords.
  • 17. 2) Create your own MeasurementFramework for each goalROI (£)Direct sales + cost savingsTwitter FacebookIndirectsalesAll socialchannels
  • 18. Closer relationships (CRM)EngagementEngagement(Facebook)Mentions(Twitter)AdvocacyPositivementions
  • 19. AwarenessEngagementEngagement(FB)Mentions(Twitter)Reache.g. Mentionsover 3 months
  • 20. 3) Get a good measurement toolTool Focus CostSocial Bakers Facebook, YouTube andTwitter analysis withextensive reporting.$100 for 3 accountsTwitsprout Facebook and Twitteranalysis, highlights toptimes for engagment$100 per monthPageLever Facebook analysis, ofmultiple pages, includingalerts (for certainactions).$99 per month for up to 5 pagesTwittercounter # of fans, fan growth,interactions, competitiveanalysisFree. Small fee for reportsSocialDon Analyses pages, fans,interactions, influencers,Free
  • 21. 4) Pick the metrics that work for you1. Fan reach - The number of fans of yourPage who have seen any given post.2. Organic reach - Organic reach includeseverything except viral views.3. Engagement - The number of peoplewho clicked anywhere in your post.4. People taking about this - People whohave Liked, shared, commented onyour content.5. Clicks - Including Link Clicks, VideoPlays, Photo Views.6. Negative Feedback - Hiding, unlinkingor reporting content as spam.
  • 22. 1. # of followers / follower growth2. Reach - qualified in some way!3. Engagement – i.e.replies, mentions, RTs4. Clicks – on URLs in Tweets5. Hourly/daily stats – useful forscheduling
  • 23. 1. Contacts – Collectively for yourstaff2. Followers – Company pages3. Page views / unique visitors4. Engagement – Likes, shares,comments5. Group Members – if you ownthe group6. Group Posts – if you are buildingcloser relationships
  • 24. 5) Benchmark using ratios
  • 25. 6) Follow emerging standards1. Content Sourcing & Methods2. Reach & Impressions3. Engagement4. Influence & Relevance5. Opinion & Advocacy6. Impact & Valuehttp://www.smmstandards.com
  • 26. Luke Brynley-JonesFounder & CEOluke@oursocialtimes.com+44 (0)845 463 1435@lbrynleyjoneswww.oursocialtimes.comThank you!Social Media Agency Audits Strategy Marketing Campaigns Management Monitoring Measurement