Your SlideShare is downloading. ×
Monitoring & Measuring Social Media - A Practical Guide
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Saving this for later?

Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime - even offline.

Text the download link to your phone

Standard text messaging rates apply

Monitoring & Measuring Social Media - A Practical Guide

2,238
views

Published on

http://spiral16.com Internet and social media monitoring can yield valuable insight and actionable intelligence that drives business forward. One of the most common applications for social listening …

http://spiral16.com Internet and social media monitoring can yield valuable insight and actionable intelligence that drives business forward. One of the most common applications for social listening and measurement is brand management, but there's so much more to be gained in so many different areas.

This presentation from Eric Melin of Spiral16, given at the Helzberg Entrepreneurial Mentoring Program (HEMP) Retreat on Nov. 15, 2013, spotlights the basics of social listening and measuring for a number of different uses, including competitive intelligence, industry research, market research, lead generation, customer service, crisis management, and campaign/product/service monitoring. Each practical application has a case study/example to make it easier to apply the concepts to your own business.

There is no one-size-fits all solution for social media ROI, so each company has to take a customized approach based on their own specific goals and objectives. Tying your social media program into the business goals of your company or brand is the foundation for success. Companies today simply cannot survive without metrics, objectives, analytics data and actionable information.

Find out what kind of opportunities there are for your brand, agency, or business in the wide-open field of Internet tracking and social media monitoring.


0 Comments
3 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
2,238
On Slideshare
0
From Embeds
0
Number of Embeds
17
Actions
Shares
0
Downloads
35
Comments
0
Likes
3
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Monitoring & MeasuringSocial Media Eric Melin @SceneStealrEric @Spiral16
  • 2. Spiral16 OverviewSpiral16 provides a robust software platform withcustomized services for Internet tracking, analysis, andreporting.Spiral16 gives companies the key insights they needfrom the web and social media to make smarterdecisions and gain a competitive edge.11/16/2012 2
  • 3. Social Data Drives Business “Marketing success depends on insight into, and intelligence regarding, one’s target audience.” “Companies today simply cannot survive without metrics, objectives, analytics data and actionable information.” 1. Analytics for the CMO: How Best-in-Class Marketers Use Customer Insights to Drive More Revenue, Aberdeen Group 2. Social Media Metrics: How To Measure and Optimize Your Marketing Investment ,Jim Sterne11/16/2012 3
  • 4. Social Data = Essential Insight Sales and Marketing Alignment: Collaboration + Cooperation = Peak Performance “Without a strong analytics capability to glean insights from both prior marketing activities and current customers, it is very difficult to execute these tactics effectively or efficiently.” Analytics for the CMO: How Best-in-Class Marketers Use Customer Insights to Drive More Revenue, Aberdeen Group11/16/2012 4
  • 5. CMOs Use Social Data to Identify Trends CMOs believe social data can indicate: 83% - Trends or patterns that may impact business. 81% - Consumer demographics/psychographics 80% - Consumer sentiment on products 78% - Influence of individuals or groups on purchase decisions 73% - Consumer sentiment on brand(s) or company - Chief customer advocate: How social data elevates CMOs, bazaarvoice & The CMO Club 11/16/2012 5
  • 6. Social Impacts Awareness & LoyaltyCMOs believe that social efforts impact: - Chief customer advocate: How social data elevates CMOs, bazaarvoice & The CMO Club 11/16/2012 6
  • 7. Where Do You Start?
  • 8. Know What To Listen ForQuestions that can be answered: Social and web research yields actionable business intelligence that will drive business forward. 11/16/2012 8
  • 9. There is no way to calculatesocial media ROI with a one-size- fits-all equation. Image from glynndevins.com -- and modified11/16/2012 9
  • 10. Establish a Customized Process The Only Way to Measure Performance and Results It is critical for creating a data-driven view of marketing results. “This should be complemented with frequent reports to stakeholder within the organization, to build a clear picture of how marketing contributes to the health and success of the organization.” - Aberdeen Group 2012 Study Web Analytics: Marketing Beyond Online Customer Data11/16/2012 10
  • 11. Data Drives Decisions11/16/2012 11
  • 12. Tie Social Listening to Business GoalsYou’ve identified your business goals already. Increase Total Sales  Higher Value Per Sale Reduce Customer Service Expenses  Increase Customer Satisfaction Acquire New Customers  Increase Reach Reduced Cost Per Transaction  Introduce New Products/ Increase Qualified Leads Service Enhancements Encourage Repeat Purchases/  Attract New Employees Build Customer LoyaltyHow can social research help you achieve them? 11/16/2012 12
  • 13. Your Objectives Drive ListeningPractical ApplicationsBrand Management There are notCompetitive Intelligence always KPIs for eachIndustry/Market Research application, but the practical insightLead Generation you get from theCustomer Service research will driveCrisis Management return.Campaign MonitoringProduct/Service Monitoring
  • 14. Brand Management Monitor brand names, nicknames, executivesWho is your target audience? Where are they talking online?Has your brand gone social?What language are they using? Are they using your marketing language orcreating their own? How can you adapt your language to give them a senseof ownership?What is the sentiment surrounding yourbrand?What are the hot issues/topicssurrounding your brand?
  • 15. Brand Management KPIs & Measurement OpportunitiesMeasure the reach of your brand messaging.How many people have you reached?Fans/followers can only get you so far, because not every fan/follower willsee every post.Clicks and subscribers show who is reading your content.Measure the engagement.Likes and ratings show who approves/endorses your content.Retweets and shares show who is spreading your content.Comments and replies show who is engaging with your content. 11/16/2012 15
  • 16. Brand Management KPIs & Measurement OpportunitiesIdentify voices, posts, and sites that are influential about your brand.Look for patterns in volume and sentiment spikes.Evaluate this new insight and alter your marketing plans appropriately.How does this new information fit with your goals? 11/16/2012 16
  • 17. Brand Management Oprah’s strategy of producing a lot of easily-shared Lifeclass Tour multimedia content and making sure that influential authors are supplied with backstage credentials paid off. Her brand owns the conversation. Twitter - positive chatter & check-ins. YouTube - fan videos and brand-shared News sources and blog results from “behind-the-scenes” event bloggers and an Oprah sub-property on the SiriusRadio website make up the balance of the list.11/16/2012 17
  • 18. Brand ManagementOnline buzz about Oprahs Metro Toronto ConventionCentre appearance was stronger than it was for NYC orSt. Louis. More people were excited about guests Deepak Chopra, Iyanla Vanzant, and Tony Robbins than they were about Bishop T.D. Jakes.11/16/2012 18
  • 19. Your Objectives Drive ListeningPractical ApplicationsBrand Management There are notCompetitive Intelligence always KPIs for eachIndustry/Market Research application, but the practical insightLead Generation you get from theCustomer Service research will driveCrisis Management return.Campaign MonitoringProduct/Service Monitoring
  • 20. Competitive Intelligence Monitor brand/competitor’s branded keywordsCompare Trending Over TimeFind volume and sentiment spikes over time.Compare your spikes with competitor(s). Are they the same/different?Why?How can you adapt to take advantage of something that caused apositive spike for your competitor?
  • 21. Competitive Intelligence KPI: Share of VoiceYour brand mentions vs. competitorsHow does this percentage change over time?What is driving these numbers?Look at the data for your competitors.What strategies are working for them?Are other brands engaging/driving moreconversation?How can you build brand awareness to compete more effectively?
  • 22. Competitive Intelligence Conversation AnalysisIdentify context/causes of volume and sentiment spikes.Look at the word cloud during the date range of the spike to see what thehot topics/trends were that caused it.See what themes develop around your competitors.Filter results by the date range of the spike. Then correlate dates withlanguage.How your competitors positioning themselves?What language are they using? What markets are they targeting?Evaluate the language, trends coming from your competitors’ advertising andmarketing.Is there room for improvement in yours?
  • 23. Competitive IntelligenceCerner ran competitive intelligence on one of itscompetitors.The prevailing marketing image of competitor as young and hip wasaffecting:• Favorable media coverage in mainstream and health IT press• High spots in KLAS Healthcare IT Software rankingsCerner’s online volume was mostly from job postings and financialreports• Sentiment was positive, but very “corporate”• Customers were not talking about Cerner• Industry pundits puzzled why competitor is “cool” and Cerner is not
  • 24. Competitive IntelligenceBy identifying trends and sites where people talkedabout competitor, they learned:Competitor selling image with cool technology, mode of dress• Doctors utilize competitor’s software with iPads• Company representatives don’t wear suits and tiesCompetitor using social media to gain buy-in for their softwareOnline forums and chat rooms mentioning both Cerner andcompetitor• Passionate, opinionated feedback• Sharing problems, recommendations
  • 25. Competitive IntelligenceRecommendations:• Develop video as a hip, savvy communication tool• Commit to a better content marketing strategy, ramp up social efforts• Drop formal company attitude, change company dress• Keep monitoring forums and health-related issues• Develop a Cerner online community for customers • Increase customer loyalty, gain customer insight, control message
  • 26. Your Objectives Drive ListeningPractical ApplicationsBrand Management There are notCompetitive Intelligence always KPIs for eachIndustry/Market Research application, but the practical insightLead Generation you get from theCustomer Service research will driveCrisis Management return.Campaign MonitoringProduct/Service Monitoring
  • 27. Industry/Market Research Monitor industry-specific keywords, issuesFor this type of research, you don’t monitor your brand. Search forkeywords that relate to your market/industry and see how often yourbrand terminology comes up.This research is market-specific and will also see point out how your brandstacks up in the midst of industry trends.Find top influencers in your industry/topic and what they care about. Craftan engagement strategy around this.See trends/topics within your industry. Learn what people in your industryare talking about and how they are talking about it. Create campaigninitiatives that speak specifically to that.
  • 28. Industry/Market ResearchStudy found posts, comments, and pages discussing single-servecoffee pods and brewers with a focus on:1. Cost2. Convenience3. Taste and flavor4. Coffee variety5. Environmental impactPositive subjects surrounding single-cupcoffee included price, convenience, lack of waste.The overwhelming negative subject was the lack of varietycompared to traditional or quantity-cup brewers.
  • 29. Industry/Market ResearchMore Insight:There is noauthoritative domainor site for the topic ofsingle-serve coffee,but rather a collectionof small sites that aremostly talking tothemselves.
  • 30. Industry/Market ResearchRecommendations:Go where the customer is online.Target conversations/ads to conversations trends.Rather than trying to get conversations started by forcing prospectsto adopt your marketing language, go to where conversations resideand adopt their language.Paid or earned content should be positioned on establishedlifestyle/living sites where the target demographic already residessuch as Huffington Post, Lifehacker, etc.
  • 31. Your Objectives Drive ListeningPractical ApplicationsBrand Management There are notCompetitive Intelligence always KPIs for eachIndustry/Market Research application, but the practical insightLead Generation you get from theCustomer Service research will driveCrisis Management return.Campaign MonitoringProduct/Service Monitoring
  • 32. Lead Generation Monitor Terms Your Target Customer Would UseBuild a profile for yourcustomers.Monitor “buy” terms, common questions,pain points, buzz words within your productcategory.Find out what prospects are saying aboutyour product/service and how it fits into theindustry. Learn what issues are important toprospects.Find forums, blogs where people are talking.Identify those who are researching yourindustry.
  • 33. Lead GenerationGoal: Identify possible strategic partners to grow business. Spiral16 identified five key terms that prospects who need our platform/services often use when describing their businesses online. By isolating the category to corporate websites, we isolate the strategic marketing language companies are using.
  • 34. Lead GenerationThe research also shows:• Blogs that engage in conversation about social media issues• Trending topics/buzz to capitalize on in our own content marketing• Questions/problems people have with monitoring/measuring social media for business• Prospects who are shopping around, asking about social research solutionsAs a result:• Qualified leads up 56% in one year• Requests for software demos doubled in one year
  • 35. Your Objectives Drive ListeningPractical ApplicationsBrand Management There are notCompetitive Intelligence always KPIs for eachIndustry/Market Research application, but the practical insightLead Generation you get from theCustomer Service research will driveCrisis Management return.Campaign MonitoringProduct/Service Monitoring
  • 36. Customer Service Find/Engage With Customers, Offer AssistanceDevelop an Engagement ProcessConsider transparency, guidelines and regulations, and brand personality.Be positive, take conversation offline if needed.Follow up with customers, make sure issues are resolvedMeasure efficiency/success by tracking:Sentiment of customersResponse time by channel, teamResolution time through social vs. other channelsCustomer retention rate through social vs. other channelsPurchase rate through social vs. other channelsUse monitoring to identify positive outcomes, customer satisfaction.
  • 37. Customer Service2012 MLB All-Star Game held in Kansas CityThe primary goal of the Social Media Command Center was tocreate meaningful conversations with both visitors to the area forthe event as well as current residents, and act as a “virtual helpdesk” or concierge.• In all, the team filtered 70,000 posts.• Of those, they read and tagged well over 30,000 social postings, cataloging and featuring the best of them on VisitKC’s social hub.• By the end of the festivities, 2,100 individuals got hands-on help from a Command Center volunteer.
  • 38. Customer ServiceKansas City Social Media Command CenterTrend analysis showed that significant positive buzz was created forKansas City, Kauffman Stadium, local businesses and museums, BBQ,All-Star FanFest, and the Social Media Command Center itself.Helpful links, informative blogs, & fanphotos were shared across the web for 6days.Twitter, where most of the engagement wasfocused, was a lovefest.Despite a potentially negative incident atthe game itself, even news sites had apositive sentiment score of 73%.
  • 39. Your Objectives Drive ListeningPractical ApplicationsBrand Management There are notCompetitive Intelligence always KPIs for eachIndustry/Market Research application, but the practical insightLead Generation you get from theCustomer Service research will driveCrisis Management return.Campaign MonitoringProduct/Service Monitoring
  • 40. Crisis Management Monitor Names, Products, Services, Execs, etc.Have a Plan in Place Identify sites/domains and also influencers who can help you spread your response in the case of a crisis. Learn how they speak and engage so you can craft your message accordingly. When it’s time to respond, you’ll need these people at your fingertips.
  • 41. Crisis Management Engage Strategically Based on DataDuring CrisisLook for sentiment/volume changes. Where is this happening?Look at language, hot topics and use this to craft response language,including press release and company statements.Actively respond using the perspectives you’ve gained frommonitoring.• Provide solutions, recommendations, or simply apologize and offer amends.• Be gracious, not defensive.Measure sentiment and topics to see where and when crisis turnsaround. Use sentiment and volume charts to prove crisis is receding.
  • 42. Crisis Management Learn From Your DataPost-CrisisMeasure sentiment and topics to see where and when crisis turnedaround. Use sentiment and volume charts to prove crisis is receding.Find the correlation between company announcements/responsesand the sentiment of the crisis.Pinpoint where the messageworked best, and where it coulduse improvement.Revise your crisis management plan accordingly.
  • 43. Your Objectives Drive ListeningPractical Applications For these twoBrand Management applications, apply the same conceptsCompetitive Intelligence from BrandIndustry/Market Research Management andLead Generation CompetitiveCustomer Service Intelligence and use language-specificCrisis Management keywords for yourCampaign Monitoring campaign, product,Product/Service Monitoring or service.
  • 44. Measuring Success Isn’t Always Hard Sometimes it’s obvious when goals are reached. The most important thing is to: • Set goals • Record your results • Learn from the data • Improve
  • 45. Better Data. Better Decisions.www.spiral16.comThanks to the Helzberg Entrepreneurial Mentoring Program!Eric Melin@SceneStealrEric@Spiral16