CT Social Media Breakfast slides JZeszut

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Lithium Tech / Scout Labs joined Katie Paine and Radian6 to talk social media metrics. These are Jennifer Zeszut's slides (founder / CEO of Scout Labs, now Chief Social Strategist at Lithium).

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  • Started by 15-year old “moot”Discussion boards / forums mostly about anime and mangaAnonymous only postsLolcats and RickrollingIncredibly powerful community
  • It’s an ecolutionThe more you can be connected, the betterThat’s when assignments, tickets, routing becomes important
  • CT Social Media Breakfast slides JZeszut

    1. 1. Measuring The Mind of the Market<br />Jennifer Zeszut<br />Chief Social Strategist <br />Lithium Technologies<br />@jenniferland<br />
    2. 2. 1 Billion+ Online. That’s a lot of Conversations.<br />Source: xkcd<br />
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    7. 7. rants<br />competitive intelligence<br />raves<br />potential customers<br />people about to switch<br />unhappy customers<br />new product ideas<br />wishes<br />influencers<br />superfans!<br />Pleas for help<br />Business intelligence<br />
    8. 8. Don’t Fear the Firehose of Feedback<br />Thanks to<br />real-time social search, <br />spam and porn filtering<br />importance ranking algorithms<br />natural language processing<br />statistical modeling<br />We can find signals in the noise…<br />Insight for All<br />
    9. 9. The Social Engagement Journey<br />PR<br />Marketing<br />Support<br />Commerce<br />Product<br />Phase 5: True customer-centricity. Maximum business results.<br />Phase 4: Revenue Realization<br />Phase 3: Better Support Customers, Reduce Costs<br />Phase 2: Build Relationships, Grow Superfans<br />Phase 1: Find and fight fires / “CYA” <br />
    10. 10. Impressions are Easy but Advocacy Matters<br />Awareness<br />Appreciation<br />Action<br />Advocacy<br />
    11. 11. Proven Business Results<br />Cost reduction<br />Millions of dollars savedin call deflection (HP)<br />Millions saved by outsourcing support completely (giff-gaff)<br />Community engagement drives $5M value per year (Best Buy)<br />Reduced marketing expenses by 82% (Redfin)<br />Revenue Growth<br />66% increase in likelihood of buying (FICO)<br />51% of their customers reported that the community had positively influenced their decision to purchase (Redfin)<br />44% increase in average amount spent (FICO)<br />Community members spend 36% more than non-community (Betfair) <br />Lead volume growth. 40% of inbound traffic comes in to CGC (FICO)<br />Lithium has been the strongest at measuring ROI… Its case studies and reference <br />customers show measurable business results.<br />
    12. 12. My Metrics “Playlist”<br />Conversation share<br />Total mentions/Overall industry mentions<br />Net Promoter Score (NPS)<br />(Positive mentions + neutral mentions) – negative mentions/ Overall mentions<br />Social Influence Marketing Score (SIM)<br />NPS x conversation share x 1,000<br />“CHI” Score: Community Health Index<br />Brand Advocate counts and growth rates<br />The $ value of a Twitter engagement<br />Total # of people and # of departments tuned in to social media<br />Team’s average response time to customer posts deemed response-worthy<br />
    13. 13. My Favorite Things to Listen For<br />New and emerging memes of conversations<br />New product ideas via “wants” and “wishes”<br />Caveats, comparisons<br />Customers about to cancel / quit (real-time customer retention)<br />Customers having problems that your product solves (customer acquisition)<br />Business intelligence issues and trends<br />Industry benchmarks<br />

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