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Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
Measuring social media (rit smacs)
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Measuring social media (rit smacs)

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Basics for measuring your organization's social media efforts. This presentation was given by Thom Craver at RIT's Social Meda and Communication Symposium, September 30, 2011. Recap from the D&C: …

Basics for measuring your organization's social media efforts. This presentation was given by Thom Craver at RIT's Social Meda and Communication Symposium, September 30, 2011. Recap from the D&C: http://www.democratandchronicle.com/article/20111002/BUSINESS0109/110020309/1001/BUSINESS/Symposium-essential-local-businesses-

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  • What I won’t mention are TOOLS. To be fair and not bias any opinions.There’s many, search the web for social media measurement tools, ask me outside of this session.
  • Who is actively using social media for business?KEEP UP: Trying to do something useful, not just mindless messages to be noticedSTILL UP: Are you actively measuring dollars generated or saved, directly from Soc. Media?
  • Do you hear these questions? Ask?
  • Is how many followers a valid metric?Content re-sharing: What does it mean?What is Engagement?How much money do you make from social media interaction? That’s why we’re here!
  • Is there meaningful communication?How do you quantify that? Ever tell your boss …100 more followers?What does he say back?
  • That’s because they want something real to defend you “playing” online.
  • KEYWORD:“that was really great” vs. “that was really great.” Stream of mentions – having a bad day?Social profile: if it’s b2b, now what? Author’s frequency. Considering keywords, morning routines, starbucks could be in troubleThe more expensive the tool, the better the quality. Still the “best guess” method.
  • But that still doesn’t really help the boss.Give you good feedback, maybe saves you money on focus groups or brand surveys but…
  • Investment: Hire, spend time to commit to socialAction: Tweeting, developing apps, blogging, etc.Reaction: People consuming the contentNon-Financial Impact: Subscribes, likes, mentions, retweets, click-thrus, follows, etc.Financial Impact: Purchasing, joining a list, clicking ads, - Can also include: Awareness and recognition –long-term--> sales (store/online)CHANGE SLIDE: Talk Non-financial Impact!!
  • This is yourQUALitative. Your “that’s nice” data.
  • This is your SHOW ME THE MONEY data.
  • Jenny, Beth and Jim – Speaking about customer service
  • How do you get
  • If your goal is to generate revenue or to reduce operating expenses, measure against it!SPIT out good metrics!Simple – not complicated. Stay away from combining data and random ratiosPertinent – relevant to demonstrating the business objectivesTimely – What happens today is different than what happened just 48 hours ago. Measure weekly, at a minimum, keep trendsInstantly Useful – I should read the metric, maybe some trend data for context, but should just know.Segment: HR interactions aren’t buyers. Don’t say 20% of our followers purchased. Say 80% of the people who intended to buy, bought!
  • Transcript

    • 1. Measurement forSocial Media Success<br />Thom Craver@thomcraver<br />
    • 2. Who I Am<br />Saunders College of Business, RIT<br />Web Specialist, Social Media, Analytics<br />Tutor NTID students, Business Studies<br />Contributor to:<br />Search Engine Watch (SearchEngineWatch.com)<br />Computer Link Magazine (TechNY.com)<br />Analytics - Presenting and Training<br />Search Engine Strategies<br />ClickZ Academy<br />
    • 3. Agenda<br />What does it mean to measure?<br />What Do We Know?<br />Who Cares?<br />Relating to Business Objectives<br />Meaningful numbers<br />
    • 4. Where Are You? Who’s Speaking?What Are They Saying?<br />
    • 5. It Working For You?<br />“Are we doing it right?”<br />“Is it effective?”<br />“Did we meet our goals?<br />“What are our goals?”<br />What’s being measured? Does it matter?<br />
    • 6. What Do We Measure?<br />Friends, Followers, Subscribers, Circles<br />Retweets, @ Mentions, Shares, Likes, +1s<br />Blog Posts, Comments, Trackbacks, Pings<br />Engagement / Interaction<br />Amplification / Content Sharing<br />
    • 7. Cool Tools – Measuring What?<br />Engagement<br />Amplification<br />Interaction<br />Content Sharing<br /> SO WHAT?<br />
    • 8. Measuring Social ROI<br />ACTUAL DOLLARS<br />Generate Revenue<br />Cost Reduction<br />Quantitative<br />CUSTOMER PERCEPTION<br />Brand Awareness<br />Brand Reputation<br />Qualitative<br />
    • 9. Sentiment Analysis<br />Determining public opinion about your brand.<br />
    • 10. Sentiment Analysis Definitions<br />Strength: Ratio of mentions over total mentions<br />Reach: Unique authors mentioning your brand<br />Passion: Unique people that repeat mentions<br />Sentiment: Ratio of positive to negative<br />Amplification: How many re-tweets or re-shares<br />
    • 11. How Do They Work?<br />Most are keyword based for a string mentions<br />Uses author’s social profile for age, gender, profile location, etc.<br />Author’s frequency of posting and mentioning<br />Historical data from 90 days to 5 years<br />Clearly, guesswork is inevitable<br />
    • 12. What Is Your Objective?<br />
    • 13. How Social Is Measured<br />Return on Investment Factors<br />
    • 14. How Social Is Measured<br />tweets … @ mentions … +1s … likes … shares … subscriptions … <br />Return on Investment Factors<br />
    • 15. How Social Is Measured<br />direct sales … advertising revenue … lead generation … other cost savings<br />Return on Investment Factors<br />
    • 16. Revenue Generation<br />Direct Web Sales<br />Ad Revenue<br />Paid Subscriptions<br />Facebook Apps <br />
    • 17. Not Everyone Is Here to Purchase!<br />Marketing / Information Dissemination<br />Sales / Lead Generation<br />Customer Service / Support<br />Human Resources / Job Postings<br />
    • 18. Proving Value From Cost Savings<br />Decisions are driven by money, not visitors<br />Mailing list(10,000 emails): $ 5,000<br />Cost per address: 0.50<br />800 addresses @ .50 ea = $ 400.00<br /> (measurable lead acquisition cost)<br />
    • 19. ROI for All Departments<br />Lead generation: Join Mailing List, Contest Entry<br />Future customer: Create a “free” account<br />Information gatherers: Compare products<br />Information gatherers: Download PDF brochure<br />Customer support:Create new service ticket<br />Service / support: Comment dialogue / DMs<br />Human resources: Download, submit application<br />
    • 20. Key Performance Indicators<br />Measure against business objectives<br />Metrics must be:<br />Simple<br />Pertinent<br />Instantly useful<br />Timely<br />Segment your users by meaningful groupings<br />
    • 21. Questions?<br />Thank You@ThomCraver<br />

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