Social Media - Measurement

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10 minute presentation I did at the Think and a Drink event "Social Media: Beyond the Hype". Draws on other presentations, with attribution.

10 minute presentation I did at the Think and a Drink event "Social Media: Beyond the Hype". Draws on other presentations, with attribution.

More in: Business , Technology
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  • True, his name does appear at the end, but I don’t see his name on the slide, which I assume you’re using with permission from the author.
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  • Yes, but have left his logo on the slides & credited him at the end of the deck. Perhaps I should have made the linkage clearer in the slides?
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  • Did you rip off the ROI section from Olivier Blanchard?
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  • 1. Social media - measurement
    Justin Souter
    Souter Consulting Limited
    28/10/2009
    1
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 2. So:
    You’ve got sign-off to go ahead with your social media initiative
    You’ve got your blogs, your wikis, your twitter account etc. set up
    BUT:Do you know what difference it’s going to make?
    28/10/2009
    © Justin Souter 2009 - Social Media measurement @ TaaD
    2
  • 3. Agenda
    Context
    Measurement
    Return on Investment
    28/10/2009
    © Justin Souter 2009 - Social Media measurement @ TaaD
    3
  • 4. People have got used to this
    28/10/2009
    © Justin Souter 2009 - Social Media measurement @ TaaD
    4
  • 5. "Half the money I spend on advertising is wasted; the trouble is I don't know which half.“
    John Wanamaker
    28/10/2009
    5
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 6. Is anyone measuring at all?
    28/10/2009
    © Justin Souter 2009 - Social Media measurement @ TaaD
    6
  • 7. “I have a better answer to defining social media ROI: don’t”
    Nick O’Neill
    28/10/2009
    7
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 8. Social Media Measurement
    Here's a framework for measuring social media:
    Attention
    Participation
    Authority
    Influence
    Sentiment
    28/10/2009
    8
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 9. Some *are* trying…
    28/10/2009
    9
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 10. McKinsey – ‘Measurable gains’
    28/10/2009
    © Justin Souter 2009 - Social Media measurement @ TaaD
    10
    http://www.broadstuff.com/archives/1847-Summary-of-McKinsey-Survey-of-Web-2.0-Use.html
  • 11. Cause & effect – Adam Parker stylee
    28/10/2009
    © Justin Souter 2009 - Social Media measurement @ TaaD
    11
  • 12. 28/10/2009
    © Justin Souter 2009 - Social Media measurement @ TaaD
    12
  • 13. 28/10/2009
    © Justin Souter 2009 - Social Media measurement @ TaaD
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  • 14. 28/10/2009
    © Justin Souter 2009 - Social Media measurement @ TaaD
    14
  • 15. Reason #1:
    COST REDUCTION
    Reason #2:
    REVENUE GENERATION
    Remember what Mr. Bossman said…
    28/10/2009
    15
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 16. I shrank my PR budget by 20%
    and my outbound call budget by 40%.
    Now I can afford a team of social media
    Rock stars. Can I get a hellz yeah?
    Okay, hotshot,
    You have your Social Media doohickey.
    Now I’d better see some real results!
    Or else…
    28/10/2009
    16
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 17. Yeah but…
    What about
    the P&L?
    Monitoring to base…
    Monitoring to base…
    Our Google Analytics are through
    the roof! Even our social mentions
    are wicked good!
    We have liftoff!
    28/10/2009
    17
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 18. What kind of mood is
    The old man in today?
    Not good.
    He doesn’t care how many visitors
    the website gets, or how many
    eyeballs we estimate we’ve reached unless it means we’re selling
    more stuff.
    28/10/2009
    18
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 19. Darn it.
    This media measurement
    stuff isn’t working.
    We need to start
    tying this stuff to actual
    Business performance.
    Where to start?
    Let’s see…
    At the beginning?
    28/10/2009
    19
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 20. Step 1: Establish a baseline
    8% YoY Growth
    28/10/2009
    20
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 21. Baselines illustrate deltas (changes)
    Is something happening here?
    28/10/2009
    21
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 22. R.O.I.
    RETURN
    ON
    INVESTMENT
    28/10/2009
    22
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 23. THE R.O.I. EQUATION
    (GAIN FROM INVESTMENT - COST OF INVESTMENT)
    ROI =
    COST OF INVESTMENT
    28/10/2009
    23
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 24. Non-financial impact = potential.
    28/10/2009
    24
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 25. ROI = actualized potential.
    28/10/2009
    25
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 26. 10 ways to measure social media success
    Traffic
    Interaction
    Sales
    Leads
    Search marketing
    Brand metrics
    PR
    Customer engagement
    Retention
    Profits
    Props to Econsultancy
    28/10/2009
    26
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 27. Bringing things together
    McKinsey benefits:
    Internal purposes
    Customer-related purposes
    Working with external partners/suppliers
    Appears to show real in-use benefits
    Useful for business cases!
    Jon Yongfook Cockle
    Qualitative
    Quantitative
    Online & Offline
    Olivier Blanchard
    Reduce costs
    Revenue generation
    28/10/2009
    27
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 28. The take-away
    Measurement is important, and the frameworks are increasingly robust
    The basics are free, more sophisticated tools available from monitoring firms
    Start thinking about measurement right at the start
    You can measure lots of things, but the Business folks will only be impressed if it reduces costs and / or makes more £
    28/10/2009
    28
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 29. 28/10/2009
    © Justin Souter 2009 - Social Media measurement @ TaaD
    29
  • 30. Olivier Blanchard
    Principal, BrandBuilder Marketing
    864.630.7398
    www.thebrandbuildermarketing.com
    @thebrandbuilder(on Twitter)
    www.smroi.net
    28/10/2009
    30
    © Justin Souter 2009 - Social Media measurement @ TaaD
  • 31. Resources
    Yongfook / Egg & Co
    Oliver Blanchard
    Adam Parker
    Dave McClure
    MyDelicious links on ROI
    Other links are embedded on the slides…
    28/10/2009
    © Justin Souter 2009 - Social Media measurement @ TaaD
    31
  • 32. Souter Consulting Limited
    28/10/2009
    © Justin Souter 2009 - Social Media measurement @ TaaD
    32
    What can I do for you?
    Please contact me to see how we can work together!
    Justin Souter
    Justin.souter@souterconsulting.eu
    http://twitter.com/souterconsults
    http://souterconsulting.eu
    07717 725504