Social Marketing Analytics

Social Marketing Analytics A New Framework for Measuring Results in Social Media
A Joint Research Presentation With:

SOCIAL MARKETING ANALYTICS: A New Framework for Measuring Results in Social Media
@johnlovett @jowyang
#SocialAnalytics

About This Research
A Collaborative Effort
Our Methodology
A Nod To Open Research

Special Thanks To...
Our co-authors
Charlene Li, Eric T. Peterson, Christine Tran
Our Ecosystem Contributors
Lisa Barone, Connie Benson, David Berkowitz, Blake Cahill, Adam Coomes, Monica Cordina, Bill Gassman, Jascha Kaykas-Wolff, Rob Key, Justin Kistner, Scott Lake, Matt Langie, Alex Mann, Louis Marascio, John McCory, Aaron Neumann, Katie Delahaye Paine, Sean Power, Chris Ramsey, Boaz Ronkin, Shiv Singh, R “Ray” Wang, Alan Webber, Jennifer Zeszut
Alterian SM2, Biz360, Cymfony, Lithium, Omniture, Radian6, Scout Labs, Social Radar StatsIT, SWIX, Trackur, Trendrr, LugIron, Visible Technologies, Webtrends

The conversation has shifted off domain Source: Pew Resource Center’s Internet and American Life Project , October 8, 2009

Facebook is the second biggest site in US Source: : Compete.com , January 2010

50 million tweets a day on Twitter Source: Twitter, February 22, 2010

companies are confused Source: http://www.engagementdb.com

The Big Social Experiment
Many companies are stumbling blindly into social media marketing without a measurement strategy in place

The Numbers are Telling…
“ While 2009 may have been a “trial” run for many brands and social media, in 2010, CMOs expect social initiatives to directly impact their bottom lines, without exception.”
“ CMOs reported that 64% of them would increase their social media budgets within the next year.”
In 2009, 89% of CMOs tracked social media's impact by using standard metrics such as site traffic, pageviews, and number of fans.
Source: BazaarVoice “ CMOs Plan for Higher Social Media Measurability in 2010 ” December 8, 2009

...Still Marketers are Perplexed
Social media vendors and platforms are proliferating at an astounding rate
Solutions exist for every channel
A multitude of choice creates confusion

The Big Payoff is Elusive

The Marketing Funnel

The vast majority of businesses tracking social media today are using the wrong metrics !
It’s time for a new Social Media Measurement standard.

Introducing...
Social Marketing Analytics is the discipline that helps companies measure, assess and explain the performance of social media initiatives in the context of specific business objectives.

The Discipline Includes a Framework

Begin with an Inside-Out Strategy

The SMA Strategy In Practice Corporate Goals Business Objectives Measures of Success Operational Tactics

The SMA Strategy: Goals
Corporate Goals = Vision
Understand, embrace & support
Socialize goals widely
Leverage motivating factors

The SMA Strategy: Objectives
Business Objectives = Strategy
Foster Dialog
Promote Advocacy
Facilitate Support
Spur Innovation

The SMA Strategy: Measures
Measures of Success = Management
Key Performance Indicators…
Provide context
Set expectations
Mandate actions

The SMA Strategy: Tactics
Operational Tactics = Execution
Specific campaigns
Channel preferences
Closed loop feedback

Use a Measurement Framework

Marketers Need A Framework
A pragmatic approach using metrics derived from sound business objectives
Minimizes confusion about the value of social marketing efforts
And delivers tangible results

The Framework Begins with Goals

...From Goals Stem Objectives

...Then Measures of Success

And Finally Execution

A Social Marketing Example...
Goal
Objective
Measures
Tactics
Driving Consideration

DIALOG Trumps Sponsorship

Dialog Requires…
Building awareness by initiating the conversation
Engaging with individuals to determine their response to ideas, thoughts, products and activities generated by the organization
Responding to individuals on behalf of the brand through genuine interactions

Strategy Management Execution Granular Metrics Foster Dialog Conversa- tion Reach Audience Engage- ment Share of Voice

Dialog KPIs in action
Share of Voice:
Audience Engagement:
Conversation Reach:

If I Were At Nike... Share of Voice Conversation Reach Audience Engagement

Advocacy in a Social World

Advocacy Requires…
Encouraging word of mouth activity by promoting and endorsing conversations shared by individuals
Developing relationships with individuals who have an affinity towards the brand
Nurturing existing relationships with customers as a proven method of building advocacy within an easily identified segment

Granular Metrics Strategy Management Execution Promote Advocacy Advocacy Impact Advocate Influence Active Advocates

Advocacy KPIs in action
Active Advocates:
Advocate Influence:
Advocacy Impact:

If I Were At The National Breast Cancer Awareness Foundation... Active Advocates Advocacy Impact Advocate Influence

Support Goes Social

Support Requires…
Resolving service issues through social media channels via direct company response and crowd-sourcing alternatives
Expediting issue resolution with quality and integrity
Elevate satisfaction through flexible support options

Granular Metrics Strategy Management Execution Facilitate Support Resolution Time Satisfaction Score Resolution Rate

Support kpis in action
Social Media Issue Resolution Rate:
Resolution Time:
Customer Satisfaction Score:

If I Were At Best Buy... Issue Resolution Rate Satisfaction Score Resolution Time

Crowdsourcing innovation

Innovation Requires…
Gathering customer insights via social media channels with a clear mission of identifying market needs and service opportunities
Processing ideas and community feedback as a means to drive products and services requires receptive product managers
Delivering new products and services to the market with credit and acknowledgement to customers

Strategy Management Execution Granular Metrics Spur Innovation Topic Trends Sentiment Ratio Idea Impact

innovation kpis in action
Topic Trends:
Sentiment Ratio:
Idea Impact:

If I Were At Dell... Topic Trends Idea Impact Sentiment Rate

The Framework Is a Process

What about the Vendors???

Business Objective Key Performance Indicator Vendors to Watch Foster Dialog Share of Voice Alterian SM2, Radian6, Scout Labs, Statsit, Trendrr, Visible Technologies Audience Engagement Coremetrics, Webtrends, Radian6, Scout Labs, Converseon, Filtrbox (Jive), Visible Technologies Conversation Reach Alterian SM2, Radian6, Scout Labs, Social Radar, Statsit, SWIX, Trendrr, Visible Technologies Promote Advocacy Active Advocates Biz360, Filtrbox (Jive), Radian6 Advocate Influence Cymfony, Filtrbox (Jive), Radian6, Razorfish (SIM Score), Telligent, Twitalyzer, Visible Technologies Advocacy Impact Coremetrics, Omniture, Webtrends, SWIX, Telligent Facilitate Support Resolution Rate Filtrbox (Jive), RightNow Technologies, Salesforce.com, Telligent Resolution Time Filtrbox (Jive), RightNow Technologies, Salesforce.com, Telligent Satisfaction Score ForeSee Results, iPerceptions, Kampyle, OpinionLab Spur Innovation Topic Trends Alterian SM2, Cymfony, Filtrbox (Jive), Radian6, Scout Labs, Social Mention, Social Radar, Trendrr, Visible Technologies Sentiment Ratio Alterian SM2, Converseon, Cymfony, Filtrbox (Jive), Radian6, Scout Labs, Social Radar, Trendrr, Visible Technologies Idea Impact Biz360, Cymfony, Filtrbox (Jive), LugIron, Radian6, Scout Labs, Visible Technologies

Vendors Are A Mandatory Component
The perfect social media measurement vendor does not exist
Existing vendors shine at listening, sentiment and trending conversations
Technologies can facilitate data collection in diverse social media, but there are no silver bullets

What about the Channels???

Specific Channels Are Secondary to Strategy
Find your audience, wherever they may be
Recognize influence above the noise
Promote advocacy and leverage your people

A New Social Media Measurement Playbook is Mandatory
Measure based on specific business objectives
Use Key Performance Indicators to Become a Measurement Hero
Adopt the Social Marketing Analytics Framework and make it your own

Your Prescription For Measurement
Follow the process: Vision>Objectives>Measurement>Tactics
Know that not all channels are equal
Define requirements first; then select vendors
Develop your social media measurement playbook
Make our measurement framework your own

DON’T BE THIS GUY, OKAY? DON’T BE THIS GUY, OKAY?

Want to Learn More?

Questions?

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Social Marketing Analytics

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