Objection: You can’t measure social media, so how will we know if it’s worth the time/money/effort/angst?
The Trinity of Measurement Interest Attitudes Action
Measuring Interest - Web traffic - Page views - Click-thrus - Blog or other mentions - Downloads - Followers on Twitter - Friends on Facebook
Measuring Attitudes - Tonality of comments and posts - Inclusion of key messages in content - Share of conversation - Measure of relationships - “Likes” via Facebook
Measuring Actions - Interactions - Revenue raised - Items sold - Purchase intent - New sales leads - Subscribers
Financial performance correlates with engagement.
Adapted from Katie Paine’s presentation to the New Comm Forum, 2009 Measurement
The 7 Steps to Social Media Measurement
Define the “R” – Define the expected results?
Define the “I” -- What’s the investment?
Understand your audiences and what motivates them
Define the metrics (what you want to become)
Determine what you are benchmarking against
Pick a tool and undertake research
Analyze results and glean insight, take action, measure again
Step 1: Define the “R”
What return is expected?
What were you hired to do?
If you are celebrating complete 100% success a year from now, what is different about the organization?
If your department was eliminated, what would be different?
What is the investment?
Senior staff time
Step 2: Define the “I”
Step 3: Define your audiences and how you impact them
You audience is never “anyone with a pulse”
Compare results between constituencies
List every stakeholder
Where do they go for information?
What’s important to them?
What is the benefit of having a good relationship with that stakeholder group?
Understand your role in getting the audience to do what you want it to do
Step 4: Define your Key Performance Indicators (KPIs) carefully because you become what you measure
Cost per message communicated
Cost per new lead/customer acquired
Increase in employee engagement/morale
Lower turnover/recruitment costs
Ratio of posts to comments
% of repeat visitors
% of 5+min visitors
% of registrations
Improvement in relationship /reputation scores with customers and communities (Loyalty/Retention)
Share of quotes
Share of opportunities
Positioning on key issues
Improvement in favorable/unfavorable ratio
Increase optimal content
Keeping Score Optimum Content Score
What’s the perfect article, blog post, tweet, etc.? 1. Visibility 2. Dominance 3. Messaging 4. Positioning 5. Who is Quoted? 6. Tonality 7. Type of Conversation
Responding to criticism
Giving a shout-out
Making a joke
Making a suggestion
Making an observation
Offering a greeting
Offering an opinion
Putting out a wanted ad
Starting a poll
Validating a position
Types of Conversations
Acknowledging receipt of information
Answering a question
Asking a question
Augmenting a previous post
Calling for action
Disclosing personal information
Giving a heads up
Whatever keeps the Board or C-suite up at night
Step 5: Define your benchmarks
First: find out what already exists
Customer Satisfaction data
Customer loyalty data
Second: Decide what research is needed to give you the information you need:
Message content analysis
Step 6: Conduct research (if necessary)
Objective Metric Tool Increase inquiries, web traffic, recruitment % increase in traffic #s of clickthrus or downloads Clicktrax, Web trends, Google Analytics, Bit.ly, Hootsuite, StumbleUpon Increase awareness/preference % of audience preferring your brand to the competition Survey Monkey, Zoomerang, Engage marketplace Conversation index greater than .8 Rankings Typepad, Technorati Communicate messages % of articles containing key messages Total opportunities to see key messages Cost per opportunity to see key messages Media content analysis – Dashboards % aware of or believing in key message Survey Monkey, Zoomerang, Vizu