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Social Media Analytics: The Peanut Butter to Business Metrics’ Chocolate
 

Social Media Analytics: The Peanut Butter to Business Metrics’ Chocolate

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Rhea Drysdale's SearchFest 2013 presentation on Social Media Analytics and how to marry business metrics and objectives with social media metrics.

Rhea Drysdale's SearchFest 2013 presentation on Social Media Analytics and how to marry business metrics and objectives with social media metrics.

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  • Structure the presentation as sound bites and takeaways.Teach them how to apply social media metrics to business metrics. For every case study define both metrics and the overall objective.
  • Add a case study?? Discuss OSM’s goals? Leadsvs conversions vs referrals vs brand awareness vs client retention vs upsell? What metrics can we measure with each? Google Analytics falls short of many internal business metrics, which have to be coordinated internally across departments. Need a process to expedite this, which means you need buy-in from the top down to find real success.
  • Add a case study?? Discuss OSM’s goals? Leadsvs conversions vs referrals vs brand awareness vs client retention vs upsell? What metrics can we measure with each? Google Analytics falls short of many internal business metrics, which have to be coordinated internally across departments. Need a process to expedite this, which means you need buy-in from the top down to find real success.
  • Add a case study?? Discuss OSM’s goals? Leadsvs conversions vs referrals vs brand awareness vs client retention vs upsell? What metrics can we measure with each? Google Analytics falls short of many internal business metrics, which have to be coordinated internally across departments. Need a process to expedite this, which means you need buy-in from the top down to find real success.
  • Add a case study?? Discuss OSM’s goals? Leadsvs conversions vs referrals vs brand awareness vs client retention vs upsell? What metrics can we measure with each? Google Analytics falls short of many internal business metrics, which have to be coordinated internally across departments. Need a process to expedite this, which means you need buy-in from the top down to find real success.
  • Link to social media reporting announcement and include year.
  • Move why to another slide and blow up the image.
  • Move why to another slide and blow up the image.
  • Move why to another slide and blow up the image.
  • Move why to another slide and blow up the image.
  • Move why to another slide and blow up the image.
  • Move why to another slide and blow up the image.
  • Mention other departments and resources they have to bring in.
  • Mention other departments and resources they have to bring in.
  • Hide conversions and then reveal on this and other slide. This looks like success, but it’s not if rooted in business metrics. How do you actually turn these insights into actionable results? Have an After Action Review discussing a process for content (reference Jonathan’s preso on content strategy) and the need for a strong call-to-action or at least some more visible tie to business metrics/goals.Need marketing and business to communicate and ensure metrics are speaking to the same goals. Otherwise both operating blind to each other’s efforts and appear successful despite massive missed opportunities.
  • Move why to another slide and blow up the image.
  • Move why to another slide and blow up the image.
  • Move why to another slide and blow up the image.
  • Mention other departments and resources they have to bring in.
  • Mention other departments and resources they have to bring in.
  • Mention other departments and resources they have to bring in.
  • Mention other departments and resources they have to bring in.
  • Mention other departments and resources they have to bring in.
  • Mention other departments and resources they have to bring in.
  • Mention other departments and resources they have to bring in.
  • Mention other departments and resources they have to bring in.
  • Move why to another slide and blow up the image.
  • Move why to another slide and blow up the image.
  • Move why to another slide and blow up the image.
  • Move why to another slide and blow up the image.
  • Move why to another slide and blow up the image.

Social Media Analytics: The Peanut Butter to Business Metrics’ Chocolate Social Media Analytics: The Peanut Butter to Business Metrics’ Chocolate Presentation Transcript

  • Social Media Analytics:The Peanut Butter to Business Metrics’ Chocolate SearchFest 2013 @Rhea | @outspokenmedia
  • Forgive the beer belly baby! @Rhea | #searchfest
  • Get the links from the deck: http://bitly.com/bundles/rhea/1 @Rhea | #searchfest
  • A world where peanut butter and chocolate were segregated. @Rhea | #searchfest
  • http://www.youtube.com/watch?v=DJLDF6qZUX0 @Rhea | #searchfest
  • What’s as perfectly paired aspeanut butter and chocolate? BUSINESS METRICS = +SOCIAL MEDIA METRICS @Rhea | #searchfest
  • Social marketers often only report on: Likes ReferralsConversion Visits s Leads Mentions Retweets Shares @Rhea | #searchfest
  • But, if this is the extent of yoursocial media reporting… @Rhea | #searchfest
  • You don’t get paid to track tasteless metrics! @Rhea | #searchfest
  • You do get paid to: Think critically Make informed recommendations Drive business objectives @Rhea | #searchfest
  • Unfortunately, social media metrics rarelysupport business objectives because: CEO CMO CFO COO CTO VP VP Public Marketing Relations Business Marketing Developmen Director t Online Brand Marketing Manager Manager Social media often falls somewhere under here. Little internal support or prioritization. @Rhea | #searchfest
  • Awareness, Inc. State of Social Media Marketing Jan 2012 Social marketers face significant challenges:Social Media Examiner, 5 Social Media Marketing Trends: New Researchhttp://bit.ly/YnBVyG
  • 77%Lack of sufficient resources @Rhea | #searchfest
  • 58%Measuring ROI @Rhea | #searchfest
  • 42%Managing and growing social presence @Rhea | #searchfest
  • 37%Integrating social media w/lead gen & sales @Rhea | #searchfest
  • 34%Integrating social media w/rest of marketing @Rhea | #searchfest
  • 33%Monitoring social media @Rhea | #searchfest
  • 31%Management of publishing across platforms @Rhea | #searchfest
  • 22%Social media training @Rhea | #searchfest
  • There is potential for greatness. @Rhea | #searchfest
  • Lack of sufficient resources Cross-functional teams Define Team Charter • Mission Resources: http://bit.ly/XpQrd7 • Business Objectives http://bit.ly/13t73Qx • Composition and Roles • Authority and Empowerment • Resources and Support Available • Operations • Negotiation and Agreement @Rhea | #searchfest
  • Measuring ROIMulti-channel ROI reporting @mikecp @Rhea | #searchfest
  • Managing and growing social presence Community development @Rhea | #searchfest
  • Get your ripples on… @Rhea | #searchfest
  • Get your ripples on… @Rhea | #searchfest
  • Get your ripples on… @Rhea | #searchfest
  • Integrating social media w/lead gen & sales Understanding the sales funnelhttp://bit.ly/Zx721o @Rhea | #searchfest
  • Integrating social media w/rest of marketing Integrated marketing campaigns @Rhea | #searchfest
  • Monitoring social media Monitoring for critical topicsGIGANTOR LIST OF SOCIAL MEDIA MONITORING TOOLS! http://bit.ly/XpT0fd @Rhea | #searchfest
  • Management of publishing across platforms Process for reactive dialogue Meet Andy White of M80 http://bit.ly/YrilkZ @Rhea | #searchfest
  • Social media training Brand guidelines, policies, company-wide response strategieshttp://bit.ly/Xu6YcV @Rhea | #searchfest
  • And yet, most of us would rather aim for deliverables and random KPIs like: @Rhea | #searchfest
  • Top Areas of Corporate Social Marketing Investment for 2012 Increased presence across social media platforms Increased frequency of content publishing More robust social marketing management More robust social media monitoring More social media presence OtherSocial Media Examiner, 5 Social Media Marketing Trends: New Researchhttp://bit.ly/YnBVyG
  • While fighting to defend the very existence of social media:Social Media Examiner, 5 Social Media Marketing Trends: New Researchhttp://bit.ly/YnBVyG
  • Why is it so difficult to demonstrate thevalue of social media? @Rhea | #searchfest
  • Social metrics make everything more delicious actionable… PR Marketing Customer Service Usability Sales IT Product Development @Rhea | #searchfest
  • Social metrics hold everyone more accountable…PR Marketing Customer Service Usability Sales IT Product Development @Rhea | #searchfest
  • Being held accountable is uncomfortable.Dysfunctional businesses hide fromaccountability while functionalbusinesses embrace it. @Rhea | #searchfest
  • • Does your business care about the opinions of your customer base?• Do you conduct market research to strengthen traditional ad campaigns?• Do you know what influences customers at different stages of the sales cycle?• Do you work with customer service to segment, track and reduce issues by type? @Rhea | #searchfest
  • When social media metrics reflect businessmetrics, the entire business wins. @Rhea | #searchfest
  • Business Metrics Defined“A unit of measurement that provides away to objectively quantify a process.” McGraw-Hill: Setting Business Metrics http://bit.ly/Y9uuPv @Rhea | #searchfest
  • Metrics vs. Business Metrics http://slidesha.re/VMP9L4 @Rhea | #searchfest
  • Common Business Metrics• Cost per acquisition• Lifetime value• Churn rate• Revenue percents For further reading: Inc, 4 Business Metrics You Can’t Afford to Ignore: http://bit.ly/11W073w Forbes, 10 Metrics Every Growing Business Must Keep An Eye On http://onforb.es/Xq4jB1 @Rhea | #searchfest
  • 2012: Google Analytics releases social reports @Rhea | #searchfest
  • Client case studies: Pinterest Yahoo! Answers reddit StumbleUpon Facebook @Rhea | #searchfest
  • Seasonal Product Page Valentine’s Day @Rhea | #searchfest
  • Social Media Metrics• 2,111 visits • 81 likes on original poster’s pin• 1.5% of social referrals • 309 repins• 5th most socially shared URL SOCIAL MEDIA SUCCESS! @Rhea | #searchfest
  • Business Metrics0 conversionsBusiness objective:• Grow customer base and revenueOutcome: FAIL! @Rhea | #searchfest
  • Business Metrics ClarifiedDon’t expect social media to drive ROIentirely.Was this a failure on the part of socialmedia? Their metrics look great! @Rhea | #searchfest
  • We’ve reached the moment when webring everything together.Delicious metrics = business + social @Rhea | #searchfest
  • Analysis:Yes, you must now THINK. What caused thetimely, engaged product page not to convert?Did anyone visit the page?! WTF(udge) They forgot the chocolate! @Rhea | #searchfest
  • TIME OUT! We need an after action review withall responsible teams present. Not to place blame—to develop achecklist/process for future success and accountability. @Rhea | #searchfest
  • Potential AARSocial Media:  Daily social media reporting of most shared content.Marketing/Content:  Develop plan for seasonal product promotion and related products.Development:  Link to “other recommendations” mentioned in the second line of content to a landing page.Design:  Place “related products” in an area that isn’t consistent with ads.  Integrate “related products” with the product layout/design. @Rhea | #searchfest
  • Seasonal Linkbait Back to school @Rhea | #searchfest
  • Social Media Metrics• 7,065 visits • 5,304 likes• 2.3% of all social referrals • 38 lists• 4th most socially shared URL • 79,000+ views SOCIAL MEDIA & SEO SUCCESS! @Rhea | #searchfest
  • Business Metrics0 conversions… AGAIN!Business objective:• Grow customer base and revenueOutcome: FAIL! @Rhea | #searchfest
  • What happened to our chocolate? @Rhea | #searchfest
  • Where is the call-to-action?
  • Here it is! Two “relatedsearches” text links.
  • TIME OUT! TAKE TWO.We need an another after action review. Marketing and/or SEO:  Linkbait needs a content strategy informed by business objectives and metrics. All departments:  Develop compelling calls-to-action that integrate with the linkbait and align with our promotional strategy. @Rhea | #searchfest
  • Let’s talk about a perceived social media failure that’s actually a success. @Rhea | #searchfest
  • Social Referrals 2012 vs 2013 SOCIAL MEDIA FAIL! @Rhea | #searchfest
  • FAIL!EPIC FAIL!SUPER FAIL!STILL A FAIL!Whew, success?
  • What were the business metrics? @Rhea | #searchfest
  • Conversions @Rhea | #searchfest
  • ExpenseRevenue s @Rhea | #searchfest
  • Organic Search Traffic @Rhea | #searchfest
  • What drove these results if social media metrics were all down? @Rhea | #searchfest
  • PHARTSPassionHonestyAccountabilityResults-DrivenTenacitySocial Responsibility @Rhea | #searchfest
  • @Rhea | #searchfest
  • Strategic Posts @Rhea | #searchfest
  • Community Involvement @Rhea | #searchfest
  • Speaking & Partnerships @Rhea | #searchfest
  • Training & Mentorship @Rhea | #searchfest
  • Client Retention & Growth @Rhea | #searchfest
  • We got social with the people who mattered to us (not everyone!). @Rhea | #searchfest
  • Direct social media ROI doesn’t matter if we use social media to meet exceed business objectives. @Rhea | #searchfest
  • Want to grow SEO’s % of revenue?GET CREATIVE! You can use social mediametrics to qualify link prospects and as aperformance metric for campaign success. Relevance Engageme Backlinks nt @Rhea | #searchfest
  • Blogger Outreach Quality MatrixDeveloped a combination of: 1. Backlinks – Citation Flow from Majestic SEO 2. Engagement – Avg of Engagement Per Post (EPP) w/3 posts 3. Relevance – 3 tiers affect minimum thresholds for CF and EPP @Rhea | #searchfest
  • Without this approach:SEO Social Media• Backlinks regardless of • Focused on outreach without industry relevance knowledge of risks, e.g. sponsored posts or mommy• Riskier methods of link blogger outreach acquisition to hit link quantity vs. quality metrics • Placing backlinks in questionable neighborhoods• Referral traffic isn’t a consideration • Not tied to content strategy• Not supporting social media • Not supporting SEO efforts efforts @Rhea | #searchfest
  • Together, we achieve individualsocial media and SEO metrics as well as business metrics. In 20 years we won’t remember a world where wedidn’t base business decisions in social media metrics. @Rhea | #searchfest
  • Get the deck:http://www.slideshare.net/rdrysdaleSay hello! rhea@outspokenmedia.com t: @Rhea | @outspokenmedia