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Brave New World of Metrics: Twitter, Facebook, & Social Media Analytics - Margaret Francis & Randy Ksar
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Brave New World of Metrics: Twitter, Facebook, & Social Media Analytics...

Brave New World of Metrics: Twitter, Facebook, & Social Media Analytics

How do you measure social media and buzz? What's a fan, or a retweet, or a product review worth? In this session, learn about free and paid tools marketers are using to develop KPIs for the brave new world of social media analytics. Even more importantly, learn the three things most companies aren't measuring in social media- and why they should.

* Margaret Francis, VP, Scout Labs
* Randy Ksar, Community Manager, Motorola

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  • Social Media: You know you should care, right? If anyone needs me to make the case I will...but you’re probably all beyond that, right?  So here are the phases I see companies go through in their quest to understand social media, create programs and measure their impact, and finally to bring lasting change to the organization, with some how-to at each stage.  RANDY: Everyone’s reaction is to jump on this- but not to develop a program
  • New media jimThere are over 6 million Coke fans on Facebook- 100,000 Coke Zero fans. How does this correlate to Coke drinkers RANDY: story about job validationStory about offline events/ social media tie ins
  • You need basic social media awareness, presence, and numbers. Burt’s Bees- fan page proliferation.Make the case: What is happening in your competitive market? Restaurants (Steak house). Crafts (Fiskateers). Cloud computing.  If nothing is happening:  You win!MARGARET: Need for humans/ effort to analyze RANDY: no perfect solution
  • RANDY: We just hired someone to do that
  • Zappos True to Size WOM
  • Focus Group- Comcast ROI calculator
  • Carmen Hill MotodevNetflixSouthwest, Citibank- product development (HP)
  • MotodevNetflixSouthwest, Citibank- product development (HP)
  • BP + ESPN + World CupMotodevNetflixSouthwest, Citibank- product development (HP)

Brave New World of Metrics: Twitter, Facebook, & Social Media Analytics - Margaret Francis & Randy Ksar Presentation Transcript

  • 1. June 18, 2010
    Margaret Francis, VP Product, Lithium Technologies
    Randy Ksar, Community Manager, Motorola
    Online Marketing Summit San JoseBrave New World of Metrics:Twitter, Facebook, & Social Media Analytics
  • 2. Session Description
    Brave New World of Metrics: Twitter, Facebook, & Social Media AnalyticsHow do you measure social media and buzz? What's a fan, or a retweet, or a product review worth? In this session, learn about free and paid tools marketers are using to develop KPIs for the brave new world of social media analytics. Even more importantly, learn the three things most companies aren't measuring in social media- and why they should.
  • 3. What You’re Going to Get Out Of #OMSSJ
    Practical advice on social media KPIs and the tools marketers use to develop them
    Real world examples of social media metrics and measurement programs from great brands
    Randy Ksar, Community Manager at Motorola @djksar
    Margaret Francis, VP Product at Lithium Technologies / Scout Labs @margaretfrancis
  • 4. Social Media: The Stats Get Attention
    Do you really want me to update you on the number of Facebook users? ~500M
    How about Tweets per day? ~65M
    Blogs? (English language only) ~150M
  • 5. Stages of Social Media Sophistication
    Phase 1: React
    Phase 2: Understand
    Phase 3: Leverage
  • 6. Phase 1: React
    What metrics should I gather?
    The social media volume you generate, and where it is coming from in your organization
    Volume of mentions of your brands/ products/ companies is across social media channels (Twitter, Facebook, MySpace, Blogs, Forums, Photos, Videos- whatever is relevant to your business)
    Most influential by channel
    Reach of the those mentions
    How your social media audience correlates to your offline/ traditional/ other customer measures
    The same information for your known and emerging competitors
    Qualitative feedback
  • 7. Phase 1: React
    What tools can I use?
    …and more.
  • 8. Example: Klout
    What tools can I use?
  • 9. Example: Crimson Hexagon
  • 10. Example: Scout Labs
  • 11. Phase 1: React
    Best Practices:
    Set expectations around frequency, depth, and format of reporting
    Expect to use a combination of free/ paid tools
    Allocate the analyst resources needed to collect metrics
  • 12. Phase 2: Understand
    What is the potential for social media to drive my business?
    What impact are our social media programs having on the business?
    How do I measure ROI?
  • 13. What are you trying to do?
    Create awareness (buzz, reach, recall)
    Create WOM/ testimonial value (intent to purchase, awareness)
    Improve brand loyalty or perception (brand preference, intent to purchase, brand equity, sentiment, customer sat, brand health, NPS)
    Generate Sales (sources of traffic, conversion, basket size)
    Create opportunities for future interactions (leads, emails, audience development
  • 14. What are you trying to do?
    Improve search performance (SEO, savings in SEM)
    Defray customer service costs (calls/ emails/ tickets deflected, savings in marketing collateral, returns)
    Prioritize operational improvements (reduced service costs, improved customer sat)
    Generate new product ideas (ideas generated, value of products brought to market)
    True market research (research costs defrayed/ reallocated)
  • 15. Phase 3: Leverage
    Customer intimacy
    Are you at their events?
    Who are the influencers today- and tomorrow?
    What other issues do they have?
    What other products/ vendors are they using?
    What other products do they use?  
    What shows do they watch?
    What games do they play?
    How do they communicate with each other?
    Are you using the same language they are using?
  • 16. Phase 3: Leverage
    Competitors
    What are your competitors doing?
    What do customers say about your competitor’s products?
    What are their favorite things about competitive products? Least favorite things about your competitors products?
    Who are your competitors, anyway?
  • 17. Phase 3: Leverage
    Organization
    What impact is social media having on your company?  
    Has it galvanized the way people think, act, operate?
    Whose desk does this information land on?
    Do the right people have the right information to make customer centric decisions?
    What operational holes have been exposed?
    United (Lost Luggage)
    Comcast (Sleeping Technician)
    Starbucks (Frappaccino Promotion)
    Vistaprint (Glen Beck Media Placement)
    Dominos (Too nasty to revisit)
  • 18. How do you make the organization care?
    Create Fluency
    Show Impact
    Foment Change
  • 19. Randy Ksar, Community Manager at Motorola
    @djksar
    Margaret Francis, VP Product at Lithium Technologies
    @margaretfrancis