How to measure Social Media ROI

How to measure Social Media ROI with Gary Angel and Scott K. Wilder

Introductions
Gary Angel, President of Semphonic
Co-Founder and President of Semphonic, the leading independent web analytics consultancy in the United States. Semphonic provides full-service web analytics consulting and advanced online measurement to digital media, financial services, health&pharma, B2B, technology, and the public sector. Gary blogs at http: //semphonic . blogs . com/semangel
Scott K. Wilder – Social Media Guide and Coach
Founded and managed Intuit’s Small Business Online Community and Social Programs. Before Intuit, Scott was the VP of Marketing and Product Development at Kbtoys / eToys, the founder and director of Borders.com, and held senior positions at Apple, AOL, and American Express. Scott is also a founding Board member of the Word of Mouth Marketing Association. He received graduate degrees from New York University, The Johns Hopkins University and Georgetown University

Overview
What we will cover:
This will be a good webinar if….you’ve gained insight into measuring the success of your social efforts – and we don’t mean cocktail parties.

It’s an Art and a Science We will talk mostly about the Science “Can’t manage what you can’t measure”

What Community/Social Members rate as top-metrics - Traffic Pattern & Statistics - 75% - Community Member Engagement - 74% - Unique Number of Visitors - 72% - New Member Registration - 70% - Member Satisfaction - 59% - Provide Feedback/Ideation for R&D - 49% - Number of Referrals by Members - 33% - Transition Lurkers into Active Members - 29% - Impact of community on revenue - 27% - Mentions of Organization or Brand on other Community Sites - 27% - Ratio of Comments per Post - 25% - % of Product Forum Posts that receive Answer - 20% - Promotions of Community Members to moderators - 20% - Keywords for Forums and Blogs - 17% - Cost Savings for Customer Service 16% - Ave. # of Customer Service Tickets/Month - 13% - Number of Product Trial Downloads - 12% - Ave. Number of Tech Support tickets/month -11% - Cost Savings for Tech. Support - 11% - Average Time for a response - 10% Source: Forum One – Bill Johnson

Targeting the Social Spheres
Your Online Properties
Web Site
Blogs
Communities
Influencers
Bloggers
Social Influencers
Opinion Leaders
Other websites & Social Networks
Blogs
Facebook, Linkedin, etc.
Email

Your World: From more than 30,000 feet
Your own Properties are the most powerful, focused and measurable component of ANY social media effort:
You control the message and the content
Your audience is already engaged
You can measure every aspect of visitor behavior
Make sure your “traditional” sites support your social efforts
Use the traffic you already get – viral efforts need to start somewhere
Your existing audience is a powerful (and easily reached) research base
Globalize your Measurement View
A global rollup across sites is essential for good tracking

Your World: Investing in a Community
Embarking on an “owned” community shouldn’t be taken lightly.

Your World: Balancing Measurement Goals
With community efforts, one of the key measurement goals is proving success
You aren’t giving yourself full credit unless you measure success in terms of marketing, customer support, branding, and product development.
Measure what really matters? But you can’t measure everything
On the other hand, the more you measure the more confusing your measurement and reporting can be. At the management level, you need to limit how much you report and compare on.

Your World: Focused Reporting Most of the work in building good reports is getting the RIGHT numbers. Measuring site success for non-Ecommerce Sites takes hard work. The payoff is a truly useful report – the net value of a site to the company.

Organizational structure usually drives goals
Which department / division owns ‘Social?’ Measure what really matters? But you can’t measure everything Your World: Measuring Success Marketing Product Development Customer Care To generate leads and / or drive transactions To integrate learnings/suggestions in product To enable users to get quality answers fast
-# of leads
# of transactions
Cost per conversion
- Engagement Score
Time / cost of driving innovation in organization
Time to market
-# of answers by users vs. company -# ratings of answers -Resolution rates -Reduction of costs for answers -Customer Satisfaction How to do these? How to do these? How to do these?

Your World: Marketing Success
Marketing typically wants to understand the impact of community efforts on reach and conversion.
Reach: For community efforts, you can measure total traffic but you may be cannibalizing other properties. In general, we recommend tracking long-tail natural search entries and bookmark entries as the most powerful KPIs.
Conversion: Web Analytics Tools – using a Global Rollup – can track the over time interaction of visitors across properties. This allows you to easily measure cross-visit interactions and over-time interactions. Properly setup, this should allow you to track the conversion value and site engagement of community visitors on your brand properties.
A global Rollup is the most powerful analytic tool for measuring over-time marketing impact of a community.

Your World: Conversion Tracking In every case, community sourced visits performed worse than average. But community visitors over time performed significantly BETTER than average.
Tracking over-time visitor-level data at the Global Rollup level is the RIGHT way to track community impact on success.
Some Outside-the-Box Key Marketing Metrics
Community Integration
Community Independence
Direct Marketing Effectiveness
Halo Marketing Effectiveness

Your World: Long-Tail SEO Branded keyword traffic to communities may not be particularly desirable. Ditto for high-profile terms well optimized on the marketing sites. But long-tail traffic is almost always a win.
By far the most significant component of new marketing reach from community sites is driven by long-tail SEO. Tracking non-branded SEO keyword traffic is essential.
Incremental Reach
Effective Reach

Your World: Product Development
Product Development and Research are extremely difficult to measure effectively in terms of community contribution.
Hot-Spots: Reporting on problems by feature is useful but difficult to translate into success. Where it can be trended based on product development efforts (before vs. after) it can be powerful.
Feature Requests: Reporting on feature requests is also important. If tied to eventual product plans, it is a good measure of success.
Research Costs: If you can document comparable research costs, this can be used as a measure of cost-avoidance.
For measurement directed to Product Development and Research, a strong content categorization is ESSENTIAL.

Your World: Product Development Product Recommendations Report for Product Manager
Our Outside-the-Box Key Product Development Metrics
Issue Rate: Problems by Feature or Application / Total Problems
Feature Requests: Request Count by Feature
Issue Customer quote Link Action taken Learnings XXXXX XXXXXXXX URL XXXXXX
XXXXX
XXXXX XXXXXXXX URL XXXXXX
XXXXX
XXXXX
XXXXX
XXXXX

Your World: Customer Care
When tracking Customer Care for Communities the two big challenges are defining success and measuring call avoidance.
Success by Function: Report on Content Exits relative to Routing Exits to measure basic success.
Inline Success: Use inline survey techniques (ratings, was this helpful, did this answer your question) to measure point success.
Brand: Use before v. after samples of community visitors to track brand impact. Track brand perception of community users on main site to measure “halo” effect.
Call Avoidance: Tracking registered users across call-centers is VERY POWERFUL but also VERY CHALLENGING.
Reporting raw numbers is useless since their meaning will always be questioned – job #1 is to define success.
Our Outside-the-Box Key Customer Support Metrics
Customer Support Efficiency
Search Efficiency
Content Efficiency

Your World: Customer Care Customer Type 1 Customer Type 2 Customer Type 3 Customer Type 4 Customer Type 1 Customer Type 2 Customer Type 3 Customer Type 4 Callers Prior to Optimization Callers After Optimization
Call Center integration is the holy-grail for cost-avoidance. But it demands keyed data and good call-center data quality.
Hard Call Avoidance
Soft Call Avoidance

DIY or focus on other sites only
Look at your total universe to determine if you should have your own community
Test if other sites can address goals
Analyze customer/prospect behavior
Survey them!
What sites they are on
What activities do they do on these sites
Frequency and recency
Monitor them
Radian6
Google

DIY or focus on other sites only
Analyze
Site Volumes relative to group volumes – is your site a potential clearinghouse.
Offline community – do you have the wherewithal to drive early adoption
Content Development – do you have potential committed developers
Seed Content – Bootstrapping is hard – do you have the means for deploying sufficient initial content.

The New World: Other Sites
No matter what - your users spend more time on other sites
Find and engage with your visitors where they already live
Talk to them and new audiences that are new to your brand
Start simple (even if you think big) – you can still be successful
Job #1 is to find your audience:
Obvious places – Facebook, Twitter, LinkedIn
Not so obvious places – special communities, blogs
Measure what you can:
Code and make all links unique, segment social inbounds, baseline and measure community sentiment.

Some goals of Facebook, LinkedIn, Twitter…
Why participate on these sites?
Brand promotion (protection)
Customer’s / Audiences’ Outposts
Home of Influencers
Learn more about what people are saying
Answer customer service issues before they spread like wildfire
… ..

Organizational structure usually drives goals Other sites: Measuring Success Marketing Product Development Customer Care To generate leads and / or drive transactions To integrate learnings/suggestions in product To enable users to get quality answers fast
# of fans, # of followers
#retweets
views, uniques,
Traffic to your site
Are your competitors there
Time / cost of driving innovation in organization
Time to market
Sentiment and Mentions vs. Baseline and “Control” communities How to do these? Google Alerts, Google Blog search, Twitter Search, Sitevolume.com, Social Mention.com UserVoice.com GetSatisfaction.com Google, Omiture, Collectiveintellect.com

Other Sites: Marketing Tracking
Make sure to campaign code ALL viral URLs (including tiny URLs) and categorize all referring sources intelligently.
Categorization of Referring Sites (in this case using an Omniture Unified Source Vista Rule) is essential for effective tracking of social traffic.
Social Visits

Example using FaceBook
Fan Page Statistics
Number of fans to unique visitors (Insight program)
Document downloaded
Attachments
Embeds
Followers
Click thrus *using Bitly
Geography
Referrals
Links back to your site
If you have a Facebook Applications
Daily active users
Monthly active users

Examples using Twitter (influencer)
Number of followers
Retweets
Click Thurs
Monitor conversation around
Brand name
Competitors name
Key words/phrases
Key contributors
Impact of posted content
Which audiences being impacted
Tools
Trends TweetMeme.com or OneRiot.com, Tweetlevel, Twinfluence and Twittergrader
Klout.com

The In-Between World: Big Picture
Influencers are the mediators between your world & the social sphere:
Consists of customers, partners, employees, etc..
Represents a disproportionate share of mind on the web
Play ‘the game telephone’ – amplifying your message
Convince one influencer and it can be worth thousands of random impressions
Understand how they use language, technology/media, etc.
Act as special class of constituent like journalist/investor  special tailed programs
Finding Influencers isn’t hard – talking to them is:
Influencers can’t be engaged en-masse, they require a customized effort.

The In-Between World: Big Picture
Don’t over-automate and don’t over Press:
Don’t send a machine to do a man’s work
Develop ‘fluid’ contact strategy
Measure their impact:
Develop engagement model
Monitor buzz and track the conversation
Identify position in social network
Caveat: Just as important to focus on how each user can influence another user
Community Shift
Community Growth

A model for Engagement Source: Ross Mayfield – Ross.Typepad.org

Engagement on your site
Try and move people towards becoming All-Stars
Build engagement models to measure each bubble segment
Know that almost everyone has ‘star potential’
Registered but don’t post Read but don’t register Recently active and potential to be major contributor Engagement can start before they get to your site

Everyone has ‘star potential’ -- Almost anyone can influence Engagement on other sites Follow your page And participate on page Just read your content (reach) Retweet
Segment Shifters

Examples of engagement models (Social CRM)
Leverage traditional direct marketing metrics: ( Google Analytics or Omiture)
Frequency and Recency
Purchasing / Transactional Behavior
Cost per lead, contact, etc.
Combine Traditional DM with Social CRM: ( Google, Omiture..backend system)
Tie to purchasing behavior on your site
Tie to purchasing behavior on other ecommerce sites (affiliate or tracking code)
Tie to social sites (referring url or tiny url)
Tie to Engagement: Participate in event, refer a friend, fill out survey, etc
Sentiment: ( Collective Intellect)
Measure vis a vis other companies
Measure on different sites
Measure what they think of brand (reviews, etc.)

10 Take aways
5% rule
Organizational Structure impacts metrics
Dedicate resource(s)
Use Unique, Campaign-Coded URLs for all campaigns (including Tiny URLs)
Track visitors not just visits
Don’t be afraid of Primary Research – Opinion Research is a powerful tool for identifying and tracking your audience
Think about Private Panels to track and find your audience
Categorize your referring sites and group them intelligently to measure overall social effort
Measure everything you need to prove success – but use as few metrics as possible in conveying your message.
Don’t forget to listen!

What Community Managers are tracking*: - Traffic Pattern & Statistics - 75% - Community Member Engagement - 74% - Unique Number of Visitors - 72% - New Member Registration - 70% - Member Satisfaction - 59% - Provide Feedback/Ideation for R&D - 49% - Number of Referrals by Members - 33% - Transition Lurkers into Active Members - 29% - Impact of community on revenue - 27% - Mentions of on other Community Sites - 27% - Ratio of Comments per Post - 25% - % of Product Forum Posts s with answer - 20% - Keywords for Forums and Blogs - 17% - Cost Savings for Customer Service 16% - Number of Product Trial Downloads - 12% - Ave. Number of Tech Support tickets/month -11% - Cost Savings for Tech. Support - 11% -Average Time for a response - 10%
Some Tools:
-Google Analytics -Omiture Site Catalyst -Google Alerts -Bit.ly -Klout -Blog Pulse -Radian6 -Google Alerts
Twitter Search
Site Volume
SocialMention.com
-User Voice
-GetSatisfaction.com
-Collective Intellection
Source: Forum One – Bill Johnson Metrics Menu

Source: Forum One – Bill Johnson Metrics Menu 10 Things to think about: - 5% rule - Organizational Structure impacts metrics - Dedicate resource(s) - Use Unique, Campaign-Coded URLs for all campaigns (including Tiny URLs) - Track visitors not just visits - Don’t be afraid of Primary Research – Opinion Research can identifying audience - Think about Private Panels to track and find your audience - Categorize your referring sites & group them intelligently to measure overall social effort - Measure everything you need to prove success - Pay attention to verbatims too
Our Outside-the-Box Key Marketing Metrics
Incremental Reach: New Visitors to the Community from Non-Branded Natural Search
Effective Reach: Direct Community Traffic + Non-Competitive Search Traffic Visits / All Visits
Community Independence: Visits sourced on a main site that drive to a community / Total Community Visits
Community Integration: Visits sourced on the community that drive to a main site
Direct Marketing Effectiveness: Visits that include community and a main site measure of success / all community visits
Halo Marketing Effectiveness: Visitors that include community and a main site measure of success / all visitors
Social Visits: Social Visits / Total Visits
Community Growth: Mentions in Target Community / Baseline Mentions
Community Shift: Mentions in Target Community Growth / Mentions in Control Community Growth
Segment Shifters: +/- Flows between Identified Segments in internal and influencer communities

Source: Forum One – Bill Johnson Metrics Menu
Customer Support Efficiency: Content Exits / Support Entries (Search + Support Routes)
Search Efficiency: Content Exits / Searches
Content Efficiency: Internal Survey Sat or Accomplished Rating
Brand Enhancement: Avg. Sat Score of Sample Before Community Use – Avg. Sat Score of After Community Use
Brand Halo: Avg. Sat Score of Main Site visitors with Community Usage vs. Avg. Sat Score of Main Site visitors without (Segmented by visitor type)
Hard Call Avoidance: Content Success Visits by Registered Community wo Call to Center
Soft Call Avoidance: Content Success Visits
Our Outside-the-Box Key Product Development Metrics
Issue Rate: Problems by Feature or Application / Total Problems
Feature Requests: Request Count by Feature
Social Issue Rate: Problems by Feature or Application / Total Problems
Social Requests: Request Count by Feature

To learn more….
Contact Gary Angel: [email_address] 415-493-2582
http://semphonic.blogs.com/semangel/
Contact Scott K. Wilder: skwilder@mac.com

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How to measure Social Media ROI

by Scott K Wilder on Dec 03, 2009

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