Social marketing analytics

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  • 1. SOCIAL MARKETING ANALYTICS: A New Framework for Measuring Results in Social Media #SocialAnalytics @johnlovett @jowyangThursday, June 10, 2010
  • 2. ABOUT THIS RESEARCH • A Collaborative Effort • Our Methodology • A Nod To Open Research 2Thursday, June 10, 2010
  • 3. 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 3Thursday, June 10, 2010
  • 4. THE CONVERSATION HAS SHIFTED OFF DOMAIN Source: Pew Resource Center’s Internet and American Life Project , October 8, 2009 4Thursday, June 10, 2010
  • 5. FACEBOOK IS THE SECOND BIGGEST SITE IN US Source: : Compete.com , January 2010 5Thursday, June 10, 2010
  • 6. 50 MILLION TWEETS A DAY ON TWITTER Source: TwiGer, February 22, 2010 6Thursday, June 10, 2010
  • 7. COMPANIES ARE CONFUSED Source: hGp://www.engagementdb.com 7Thursday, June 10, 2010
  • 8. THE BIG SOCIAL EXPERIMENT • Many companies are stumbling blindly into social media marketing without a measurement strategy in place 8Thursday, June 10, 2010
  • 9. 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 medias 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 9Thursday, June 10, 2010
  • 10. ...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 10Thursday, June 10, 2010
  • 11. 11Thursday, June 10, 2010
  • 12. Thursday, June 10, 2010
  • 13. THE BIG PAYOFF IS ELUSIVE 13Thursday, June 10, 2010
  • 14. THE MARKETING FUNNEL SOCIAL NETWORKS Prospects interact in social networks Customers interact on company sites Advocates may have a dedicated community COMPANY SITE 14Thursday, June 10, 2010
  • 15. The vast majority of businesses tracking social media today are using the wrong metrics! It’s time for a new Social Media Measurement standard. 15Thursday, June 10, 2010
  • 16. 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. 16Thursday, June 10, 2010
  • 17. THE DISCIPLINE INCLUDES A FRAMEWORK KPI! KPI! KPI! Business KPI! KPI! Objective! Social ! Business Marketing! Business KPI! KPI! Objective! Goals! Objective! KPI! Business KPI! Objective! KPI! KPI! KPI! 17Thursday, June 10, 2010
  • 18. BEGIN WITH AN INSIDE-OUT STRATEGY 18Thursday, June 10, 2010
  • 19. THE SMA STRATEGY IN PRACTICE Corporate Goals Business Objectives Measures of Success Operational Tactics 19Thursday, June 10, 2010
  • 20. THE SMA STRATEGY: GOALS • Corporate Goals = Vision • Understand, embrace & support • Socialize goals widely • Leverage motivating factors 20Thursday, June 10, 2010
  • 21. THE SMA STRATEGY: OBJECTIVES • Business Objectives = Strategy • Foster Dialog • Promote Advocacy • Facilitate Support • Spur Innovation 21Thursday, June 10, 2010
  • 22. THE SMA STRATEGY: MEASURES •Measures of Success = Management • Key Performance Indicators… • Provide context • Set expectations • Mandate actions 22Thursday, June 10, 2010
  • 23. THE SMA STRATEGY: TACTICS •Operational Tactics = Execution • Specific campaigns • Channel preferences • Closed loop feedback 23Thursday, June 10, 2010
  • 24. USE A MEASUREMENT FRAMEWORK 24Thursday, June 10, 2010
  • 25. 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 25Thursday, June 10, 2010
  • 26. THE FRAMEWORK BEGINS WITH GOALS Social ! Marketing! Goals! 26Thursday, June 10, 2010
  • 27. ...FROM GOALS STEM OBJECTIVES Business Objective! Social ! Business Marketing! Business Objective! Goals! Objective! Business Objective! 27Thursday, June 10, 2010
  • 28. ...THEN MEASURES OF SUCCESS KPI! KPI! KPI! Business KPI! KPI! Objective! Social ! Business Marketing! Business KPI! KPI! Objective! Goals! Objective! KPI! Business KPI! Objective! KPI! KPI! KPI! 28Thursday, June 10, 2010
  • 29. AND FINALLY EXECUTION KPI! KPI! KPI! Business KPI! KPI! Objective! Social ! Business Marketing! Business KPI! KPI! Objective! Goals! Objective! KPI! Business KPI! Objective! KPI! KPI! KPI! 29Thursday, June 10, 2010
  • 30. A SOCIAL MARKETING EXAMPLE... • Goal Driving Consideration • Objective Foster Dialog! • Measures Share of Voice! Audience Engage- ment! Conversa- tion Reach! • Tactics 30Thursday, June 10, 2010
  • 31. DIALOG TRUMPS SPONSORSHIP 31Thursday, June 10, 2010
  • 32. 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 32Thursday, June 10, 2010
  • 33. Granular Metrics Audience Engage- ment Ex Share of Conversa- ec Voice tion Reach ut io n M an Foster ag em Dialog en t St r at eg yThursday, June 10, 2010
  • 34. DIALOG KPIS IN ACTION • Share of Voice: !"#$%&(& "#$%&!(%)*+%, ! 8 !9:$#(!+;!<+*=( )*+%& -+)$.!(%)*+%,!/"#$%&! 0 !1+23()*)+#!45!"5!1666%7 !! • Audience Engagement: ! !"#$%&%( "#$$%&(! ) !*+,-%(! ) !.-,/01,/0( = !6784%&/%!9&:,:%$%& )&*+*%,%&-( !! .#,2!34%5( • Conversation Reach: ! – !"#$%&!(#)&(!%*$+,+)%$+-.! = !5#-6(*4%$+#-!7(%,8 !"#$%&()"#* +%(,-* !! "#$%&!/01+(-,(!23)#40*( ! 34Thursday, June 10, 2010
  • 35. IF I WERE AT NIKE... Share of Audience Conversation Voice Engagement Reach 35Thursday, June 10, 2010
  • 36. ADVOCACY IN A SOCIAL WORLD 36Thursday, June 10, 2010
  • 37. ADVOCACY REQUIRES… • Encouraging word of mouth activity by promoting and endorsing conversations shared by individuals • Developing relationships with individuals who have an affinity towards the brand • Nurturing existing relationships with customers as a proven method of building advocacy within an easily identified segment 37Thursday, June 10, 2010
  • 38. Active Granular Metrics Advocates Promote Advocate Advocacy Influence e gy t Advocacy Stra Impact e nt em ag an M n tio e cu ExThursday, June 10, 2010
  • 39. ADVOCACY KPIS IN ACTION • Active Advocates: !"#$%& !"!#$!%&()*!%+)#&,*-!./0(1!2,-!34!+,5-6! = !%&()*!%+)#&,*- !$(")*%+& !! 7#,8!%+)#&,*- • Advocate Influence: ! !"#$%&() !"#$%&!()*+,-./0!1#23&#,!! = !()*+,-.!1#23&#, *+,-(+%() !! 4+.-3!()*+,-.!1#23&#, • Advocacy Impact: ! – !"#$%&%( !"#$%&!()!*+,(-.-/!01,&2!3(2,&41(24!! = !*+,(-.-/!9$:.-6 )*+&%,( !! 5(6.7!8(7#$&!()!*+,(-.-/!5.))1- ! 39Thursday, June 10, 2010
  • 40. IF I WERE AT THE NATIONAL BREAST CANCER AWARENESS FOUNDATION... Active Advocate Advocacy Advocates Influence Impact 40Thursday, June 10, 2010
  • 41. SUPPORT GOES SOCIALThursday, June 10, 2010
  • 42. 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 42Thursday, June 10, 2010
  • 43. St ra t eg y M an ag Facilitate em en Support t Ex ec ut Resolution Satisfaction io n Rate Score Resolution Time Granular MetricsThursday, June 10, 2010
  • 44. SUPPORT KPIS IN ACTION • Social Media Issue Resolution Rate: !""#$% !"#$%&!!())*+)!,+)#&-+.!/%$0)1%2$#30&4! = !())*+!,+)#&*$0#5!,%$+ &$"(#)*% "#$%&!!/+3-02+!())*+)! !! &+,$% • Resolution Time: ! !"#$%&$() !"#$%&!()*+,-!./01#(0/!"+2/! = !./0#&*$+#(!"+2/ *+,") !! "#$%&!3!4/,5+6/!()*+,+/0! • Customer Satisfaction Score: ! – !"#$%"&#() !"#$%&()!*((+,-./!0123#%!45!65!"77728! = !:-%1$;-.%1&2!:.&)( !&*+) !! 499!"#$%&()!*((+,-./! ! 44Thursday, June 10, 2010
  • 45. IF I WERE AT BEST BUY... Issue Resolution Satisfaction Resolution Time Score Rate 45Thursday, June 10, 2010
  • 46. CROWDSOURCING INNOVATION 46Thursday, June 10, 2010
  • 47. 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 47Thursday, June 10, 2010
  • 48. Topic Trends Granular Metrics Sentiment Spur Ratio Innovation St ra te gy Idea Impact M an ag em en t Ex ec ut io nThursday, June 10, 2010
  • 49. INNOVATION KPIS IN ACTION • Topic Trends: !"#$%& !"!#$!%&()$)(!*#&)(!+,-)#,.! = !*#&)(!*1,2. !()*+& !! /00!*#&)(!+,-)#,.! • Sentiment Ratio: ! !"#$%"#& !"#$%&%(! ) !*(+&,-.! ) !*(/-&%(!0,-12!3(1&%#1$! = !5(1&%6(1&!7-&%# ()$* !! 4..!0,-12!3(1&%#1$! • Idea Impact: ! – !"#$%% !"!#$!%#&()*!+#,)*-&.(#,&/!01.-*&/!2*,(#,&! = !56*.!578.9( !&$()% !! 3#(.4!56*.!+#,)*-&.(#,&/!01.-*&/!2*,(#,&! ! 49Thursday, June 10, 2010
  • 50. IF I WERE AT DELL... Topic Sentiment Idea Trends Rate Impact 50Thursday, June 10, 2010
  • 51. THE FRAMEWORK IS A PROCESS KPI! KPI! KPI! Business KPI! KPI! Objective! Social ! Business Marketing! Business KPI! KPI! Objective! Goals! Objective! KPI! Business KPI! Objective! KPI! KPI! KPI! 51Thursday, June 10, 2010
  • 52. WHAT ABOUT THE VENDORS??? 52Thursday, June 10, 2010
  • 53. Business Objective Key Performance Indicator Vendors to Watch Alterian SM2, Radian6, Scout Labs, Statsit, Trendrr, Share of Voice Visible Technologies Coremetrics, Webtrends, Radian6, Scout Labs, Foster Dialog Audience Engagement Converseon, Filtrbox (Jive), Visible Technologies Alterian SM2, Radian6, Scout Labs, Social Radar, Conversation Reach Statsit, SWIX, Trendrr, Visible Technologies Biz360, Filtrbox (Jive), Radian6 Active Advocates Cymfony, Filtrbox (Jive), Radian6, Razorfish (SIM Promote Advocacy Advocate Influence Score), Telligent, Twitalyzer, Visible Technologies Coremetrics, Omniture, Webtrends, SWIX, Telligent Advocacy Impact Filtrbox (Jive), RightNow Technologies, Resolution Rate Salesforce.com, Telligent Filtrbox (Jive), RightNow Technologies, Facilitate Support Resolution Time Salesforce.com, Telligent ForeSee Results, iPerceptions, Kampyle, OpinionLab Satisfaction Score Alterian SM2, Cymfony, Filtrbox (Jive), Radian6, Scout Topic Trends Labs, Social Mention, Social Radar, Trendrr, Visible Technologies Alterian SM2, Converseon, Cymfony, Filtrbox (Jive), Spur Innovation Sentiment Ratio Radian6, Scout Labs, Social Radar, Trendrr, Visible Technologies Biz360, Cymfony, Filtrbox (Jive), LugIron, Radian6, Idea Impact Scout Labs, Visible TechnologiesThursday, June 10, 2010
  • 54. 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 54Thursday, June 10, 2010
  • 55. WHAT ABOUT THE CHANNELS??? 55Thursday, June 10, 2010
  • 56. SPECIFIC CHANNELS ARE SECONDARY TO STRATEGY • Find your audience, wherever they may be • Recognize influence above the noise • Promote advocacy and leverage your people 56Thursday, June 10, 2010
  • 57. 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 57Thursday, June 10, 2010
  • 58. YOUR PRESCRIPTION FOR MEASUREMENT 1. Follow the process: Vision>Objectives>Measurement>Tactics 2. Know that not all channels are equal 3. Define requirements first; then select vendors 4. Develop your social media measurement playbook 5. Make our measurement framework your own 58Thursday, June 10, 2010
  • 59. DON’T BE THIS GUY, OKAY?Thursday, June 10, 2010
  • 60. Thursday, June 10, 2010
  • 61. WANT TO LEARN MORE? 61Thursday, June 10, 2010
  • 62. QUESTIONS? John Lovett, CWA Jeremiah Owyang Senior Partner, Web Analytics Demystified Partner, Altimeter Group john.lovett@webanalyticsdemystified.com jeremiah@altimetergroup.com http://john.webanalyticsdemystified.com web-strategist.com/blog @johnlovett @jowyangThursday, June 10, 2010