Proving the value in Social Media - Leisure Industry Week 2012


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Proving the value in Social Media - James Fairweather - Leisure Industry Week 2012, NEC, Birmingham.

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Proving the value in Social Media - Leisure Industry Week 2012

  1. 1. Proving the value in Social MediaJames Fairweather of Coast DigitalMarketing you can measure TM @J_Fairweather
  2. 2. Social Media Hello. A little bit about me. • 5+ Years Digital Agency side. • Digital Strategy & Online Marketing Consultant “I help businesses extract the most value from the web.”Marketing you can measure TM @J_Fairweather
  3. 3. Social MediaMarketing you can measure TM @J_Fairweather
  4. 4. Social Media Who is this session for? Who want to understand •Business owners •What to measure •Marketers •How to measure it •New Business teams •How to prove the value in Social Media •Takeout tipsMarketing you can measure TM @J_Fairweather
  5. 5. Social Media We’re familiar with the channels already.Marketing you can measure TM @J_Fairweather
  6. 6. Social Media “The term Social Media refers to the use of web- based and mobile technologies to turn communication into an interactive dialogue.”Marketing you can measure TM @J_Fairweather
  7. 7. Social Media What has been changing & how fast?Marketing you can measure TM @J_Fairweather
  8. 8. Social MediaWhere are we with Social now? • The B2B sector has now embraced social media. • Businesses are getting customer service and support right. • Many are struggling moving towards acquisition & lead generation.Marketing you can measure TM @J_Fairweather
  9. 9. Some facts... In 2010 there were 65 million Tweets delivered per day. Today, Twitter users are sending over 340 million Tweets per day. Currently 18% of the UK population actively use Twitter, which equates to nearly 11 million people. The majority of Twitter users are aged between 30 to 49. 66% of all questions asked on Twitter have some commercial intent. * & Touchagency.comMarketing you can measure TM
  10. 10. Some facts... More than 750 million active users , that is equivalent to 1 in every 13 people on Earth owning a Facebook account. Average user is connected to 80 community pages, groups and events. 35+ demographic represents more than 30% of the entire user base. People spend over 700 billion minutes per month on Facebook. *Facebook.comMarketing you can measure TM
  11. 11. Social Media “In the past year, traffic from social has grown from 3% - 27%” via @timgentryMarketing you can measure TM @J_Fairweather
  12. 12. Social MediaMeasuring itMarketing you can measure TM @J_Fairweather
  13. 13. Social MediaMeasuring Success The challenge lies in the breadth of social; • Customer service • Marketing & PR • Market research • Business development • HR & Recruitment The difficulty is in selecting relevant metrics beyond followers and shares to represent success in these areas.Marketing you can measure TM @J_Fairweather
  14. 14. Social MediaCustomer ServiceMarketing you can measure TM @J_Fairweather
  15. 15. Social MediaMarketing & PRMarketing you can measure TM @J_Fairweather
  16. 16. Social MediaMarket ResearchMarketing you can measure TM @J_Fairweather
  17. 17. Social MediaBusiness DevelopmentMarketing you can measure TM @J_Fairweather
  18. 18. Social MediaHR & RecruitmentMarketing you can measure TM @J_Fairweather
  19. 19. Social MediaSome Social Mistakes Marketing you can measure TM @J_Fairweather
  20. 20. Measuring Success•Marketers are still unsure how to calculate social media ROI.•The bigger picture; would you measure the ROI from your telephone line?•Marketers need to understand the value in what people are doing to justifyresource on social media.•Biggest mistake is not considering what success and failure look like earlyenough. IBM mantra; Fail, fast.Marketing you can measure TM @J_Fairweather
  21. 21. What are people measuring?•Confusion between social media data, metrics (and KPIs) for ROI•Last touch & direct conversion metrics.•Vanity metrics.Marketing you can measure TM @J_Fairweather
  22. 22. Vanity Metrics•Follows•Number of „Fans‟•Likes•Shares• Visits•„Influence‟ scores like KloutMarketing you can measure TM @J_Fairweather
  23. 23. Social MediaVanity Metrics – Some Pitfalls•Hundreds of distracting social data points to wade through.•Most of this data is actually nothing but “data puke”. - Avinash Kaushik•Analysing this data is risky - they can hide the insights needed to understandwhat actions to take.•They can be relevant, however they don‟t always represent reality and misleadfrom meaningful measurement.Marketing you can measure TM @J_Fairweather
  24. 24. Social MediaVanity Metrics – Some Pitfalls•Reach, isn‟t really powerful unless you consider ‘influencer identification‟.•Discover the most influential people in your networks and map them.•Go on to build relationships online with those people.•Track the quality of these engagements.Marketing you can measure TM @J_Fairweather
  25. 25. Social MediaVanity Metrics – Some PitfallsThere can be a place for vanity metrics as part of a set of KPI‟s alongside other data.Look into some of the metrics within those tools, for example;1. Reach & velocity.2. # Of Retweets Per Thousand Followers, as measure of efficiency.3. Messages Per Outbound Message, a measure of two way conversation, not just broadcast.Marketing you can measure TM @J_Fairweather
  26. 26. Social MediaLast Touch Analytics• Last touch attribution doesn‟t allow Social Media activity to be credited with keeping conversation going and leads „warm‟.• If the final „visit‟ to the site isn‟t from a social source, last touch model doesn‟t credit it at all.Marketing you can measure TM @J_Fairweather
  27. 27. Social MediaWhat should you really be doing? • Map metrics to business objectives • Some metrics to consider • Consider impact of social on SEO • Create effective dashboards • Use the right toolsMarketing you can measure TM @J_Fairweather
  28. 28. Social MediaMap Metrics to Business Objectives•Focus on choosing a few metrics to use as your KPI‟s in the context of yourbusiness.•These should form the basis of your measurement framework and will map backto your business and marketing goals.•These KPI‟s should lead to action!Marketing you can measure TM @J_Fairweather
  29. 29. Social MediaMap Metrics to Business Objectives•Consider the impact of having a great customer service team.•What is the ROI from not losing a customer?•Or reducing your volume of call centre complaint calls by 50%.These are tangible objectives and have associated costs and savings.ROI calculation needs to account for how much better your customerservice is.Marketing you can measure TM @J_Fairweather
  30. 30. Social MediaWhat should you really be doing? • Map metrics to business objectives • Some metrics to consider • Consider impact of social on SEO • Create effective dashboards • Use the right toolsMarketing you can measure TM @J_Fairweather
  31. 31. Social MediaSome metrics to considerVolume of conversation and share of voice – what proportions?Social graphing - tools like Rapleaf can analyse your email databaseSentiment - analyse conversations around how your brand is portrayed.Paid Value of Traffic – what cost might equivalent paid traffic be?On site impact on social – do social visitors behave differently on site?Lost Customer Value - what impact does a lost customer have socially?Customer Lifetime Value – consider the impact of increased CLV.Marketing you can measure TM @J_Fairweather
  32. 32. Planning a strategy1. Review and learn what works. Keep testing, React and refine.2. Use A/B testing where you can to optimise performance.3. Drop things that don‟t work and invest in a steady stream of new initiatives.4. Always consider time as a key component. Social data may be instantly available, but building a brand is a timely process.5. Establish milestones and re-evaluate regularly.Marketing you can measure TM @J_Fairweather
  33. 33. Social MediaWhat should you really be doing? • Map metrics to business objectives • Some metrics to consider • Consider impact of social on SEO • Create effective dashboards • Use the right toolsMarketing you can measure TM @J_Fairweather
  34. 34. Social Media Social and search are amalgamatingMarketing you can measure TM @J_Fairweather
  35. 35. Social Media 200 million twitter users. Over 750 Million active Facebook users. 25 million Google Plus users. Search engines can‟t afford to ignore this volume of usage.Marketing you can measure TM @J_Fairweather
  36. 36. Social Media People trust human recommendations and endorsement.If relevance is key to keeping Googles search share, they have to adapt.53% of people on Twitter recommend companies and/or products in theirTweets, with 48% of them delivering on their intention to buy the product. (ROI Research for Performance, June 2010)Marketing you can measure TM @J_Fairweather
  37. 37. Social Media•Social media has grown so quickly thatGoogle have to play catch-up to ensurethat they are returning users the mostrelevant content.•It is likely that human endorsementfactors will overtake traditional linkbased ranking factors.•Results are more likely to be based onreal-time noise and activity. Marketing you can measure TM @J_Fairweather
  38. 38. Social MediaSocial as a Ranking Signal “We do look at the social authority of a user. This can add a little weight to a listing in regular search results.” “Yes, we do use it as a signal. It is used as a signal in our organic and news rankings.” “For +1‟s and other social ranking signals, we‟ll be starting carefully and learning how those signals are related to quality.” Marketing you can measure TM @J_Fairweather
  39. 39. Social Media Why would social signals be good for search engines?Marketing you can measure TM @J_Fairweather
  40. 40. Why would social signals be good for search engines?
  41. 41. Social Media FreshnessMarketing you can measure TM @J_Fairweather
  42. 42. Social Media Freshness is an important property of online contentMarketing you can measure TM @J_Fairweather
  43. 43. Marketing you can measure TM @J_Fairweather
  44. 44. Marketing you can measure TM @J_Fairweather
  45. 45. Marketing you can measure TM @J_Fairweather
  46. 46. Social Media What are the effects of this cross-over now?Marketing you can measure TM @J_Fairweather
  47. 47. Social MediaWhat are the effects of this cross-over now? Marketing you can measure TM @J_Fairweather
  48. 48. Social Media Optimisation Source: www.branded3.comMarketing you can measure TM @J_Fairweather
  49. 49. Social Media•Search engines are open about using likes, tweets and socialendorsements as ranking signals.•New content gets indexed more quickly.•If content is relevant in the social space, it can rank much moreeffectively.•More difficult to game - as a result the quality of search results willimprove.•Google are customising search result to you based on your socialcircles.Marketing you can measure TM @J_Fairweather
  50. 50. What should you really be doing? • Map metrics to business objectives • Some metrics to consider • Consider impact of social on SEO • Create effective dashboards • Use the right toolsMarketing you can measure TM @J_Fairweather
  51. 51. Use effective dashboards1. Establish your analytics suite and form a good work-flow process2. There are hundreds of tools and dashboards out there. Trial and test to find the ones that work for you.3. Establish a good mix of tools & services that can form your measurement toolbox and automate where you can.4. Some can integrate with CRM and other internal systems.Don’t forget: social media monitoring is about a "team" rather than a "tool"Marketing you can measure TM @J_Fairweather
  52. 52. An example strategyMetrics KPI’s Dashboard – ROI Reporting Reach KPI Reduced Phone Reliance KPI Shares KPIMarketing you can measure TM
  53. 53. What should you really be doing? • Map metrics to business objectives • Some metrics to consider • Consider impact of social on SEO • Create effective dashboards • Use the right toolsMarketing you can measure TM @J_Fairweather
  54. 54. Tools & Takeouts•The key to getting Social media „right‟ is more in strategy rather than thetoolset.•In many ways, social monitoring is about a "team" rather than a "tool“.•However.... there are good services out there that can speed themanagement side of social media up.•“Only 23% of UK marketers said they were able to update multiplechannels from one dashboard.” (Econsultancy)Marketing you can measure TM @J_Fairweather
  55. 55. Google Analytics Social ReportingMarketing you can measure TM @J_Fairweather
  56. 56. Google Analytics Multi Channel GoalsMarketing you can measure TM @J_Fairweather
  57. 57. Identifying Influential FollowersTools & TakeoutsMarketing you can measure TM @J_Fairweather
  58. 58. Tools & Takeouts – A list for later.Hootsuite – Social Media management dashboardTweetdeck – Facebook & Twitter account managementTwitsprout - Twitter & Facebook reporting (although primarily Twitter)Tweetreach - Twitter reach metrics, statistics and analysisRadian 6 - Social media monitoring tools & social media engagement softwareAlterian - Social Conversation managementBrandwatch - Social Media monitoring platformSocial Bro - Twitter management dashboardBuffer (web client) - Post scheduling toolAddictomatic - Buzz monitoring toolIcerocket - Meltwater buzz monitoringArgyle - Enterprise social marketing platformSprout - Social Media management - Web Video measurement platformMarketing you can measure TM @J_Fairweather
  59. 59. Wrapping it up•Choose careful metrics & map to KPI‟s.•Measure them meticulously.•Calculate ROI as you would any other channel.•Review regularly & learn.•One size doesn‟t fit all.•Social should be a platform to support a comprehensiveand interesting content strategy.Marketing you can measure TM @J_Fairweather
  60. 60. Social Media As a live example; we’ll usethis set of slides and content as a part of our own marketing activity. Marketing you can measure TM @J_Fairweather
  61. 61. Social Media • Slides onto SlideShare. • YouTube webcast. • Post excerpts onto twitter. • Publish and share on LinkedIn & through groups. • Add posts to our blog on site. • Post tweets up with relevant hashtags #socialmedia #SEO #SMO and share with our followers. • Support the publication of upcoming guides and whitepapers.Marketing you can measure TM @J_Fairweather
  62. 62. Social Media We will be measuring; 1. Inbound links back to our site 2. Additional view, like and share metrics on content around the event. 3. Increases in traffic volume & engagement to our site. 4. Individuals that we interact with as a result of the session 5. Return on investment. What return will we make in the long run?Marketing you can measure TM @J_Fairweather
  63. 63. Social MediaPrivate LinkedIn group for Q&A, also got a free Social Media guide for the business. If youd like a copy,connect with us online or leave some you can measure TM @J_Fairweather