Social media monitoring & metrics: a top-level guide

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In 2014, your brand is what your customers say it is. That's why it’s important to listen to customer conversations: to identify issues, serve customers, handle crises, keep tabs on the competition, and more.
This presentation, given to Ryerson University's ADaPT-ICTS program on May 13, 2014, will get you started with social media monitoring & measurement.

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  • I’m a digital communications professional with 15 years experience in the field. I’ve worked for nonprofits and commercial enterprises, one-man shops and large multinational corporations in Canada and abroad. I specialize in monitoring & measurement, and digital & social media strategy.
     
    I started in web design and development in the late ‘90s with TransCanada PipeLines, and founded my own shop, webness, in 2001. I spent five years as webmaster and then creative director for Earth Day Canada, before shifting to digital communications for organizations such as the Royal Ontario Museum, Intuit’s Global Business Division and York University.
    I founded the Toronto Museums & Culture Online Collective, co-founded Social Media Café Toronto, and am a regular presenter at events such as PodCamp Toronto, Social Media Week, and at colleges and universities around Toronto.
  • What were you doing before coming here?
    What do you want to do with this training? What do you want to get out of today?
  • Measurement is also essential to ROI.
    We’re in the digital media business, not the digital media hobby: we’re in it to achieve our business goals.
    Not all of those goals have to be dollar signs, but we’re doing this to achieve our goals: there’s no doubt about it.
    Unfortunately, a lot of people are using outdated metrics for measuring results online.
    Return on ad spend: a metric used to measure the effectiveness of online marketing campaigns. This formula measures how much gross revenue is realized for every $1.00 of spend on advertising (Dollars Sold / Dollars Spent = ROAS).
  • None of this comes for free.
  • Outputs can be indirect
    For example, we can’t measure bums in seats directly from social media, but we can measure proxies
    Reputation -> Sentiment
    Bums in seats -> consideration (turn-out at recruiting events, downloads of materials – things we know contribute directly)
    Popular metrics such as Facebook likes or Twitter followers aren’t critical in and of themselves.
    What’s more valuable is positive change over time in such metrics; this shows that your digital media are headed in the right direction
    But if you’re up or down 5%, is that really significant? Who cares?
  • Audience and reach lie at the top of the marketing funnel
  • Engagement is a significant metric, because engagement leads to action. Disengaged people don’t do anything.
  • Be careful: measuring things like sentiment online is fraught with danger.
    A lot of companies with very expensive products will claim to monitor sentiment automatically.
    Their output is uniformly dubious if they’re not using a natural language processing engine.
    Luckily, you can manually find out sentiment: it just takes longer.
  • Information without context or purpose is trivia
  • Some proof points for the C Suite:
    Case studies
    Best practices
    Keep in mind that neither of these are transactional
    There’s a big leap from demonstrating that you’re doing something right to demonstrating that (broadly) it’s making you money, to demonstrating (specifically) that it’s making you money.
    That’s why it’s still valuable to show traffic to website and conversions - that’s transactional on a micro and macro level.
  • Social media monitoring & metrics: a top-level guide

    1. 1. MONITORING AND MEASUREMENT Mark Farmer ADaPT-ICTS, Ryerson University May 13, 2014
    2. 2. Why this is important  “What gets measured, gets managed.” - Peter Drucker  “What gets monitored is what matters.” - Mark Farmer
    3. 3. A little about me
    4. 4. You ?
    5. 5. What you’ll learn  How to monitor conversation online  How to measure the impact of what you do online  Applying this to your personal brand  Applying this in a professional capacity  Not going to be a lecture – going to learn through the tools
    6. 6. Why listen online?  In 2014, your brand is what your customers say it is.  That applies to corporate brands as much as to your personal ones.  It’s important to listen to these conversations. It’s how we identify issues, serve customers, handle crises, keep tabs on the competition, and more.  From these come actionable business intelligence and marketing insights.  It’s also where marketing and PR live,
    7. 7. Why measure online?  Results  Since they’re objective and empirical, they remove subjectivity, opinion and conjecture from business decision-making processes.  That de-personalizes things.  Keep you honest.  There are lies, damned lies & statistics, but people vote with their clicks.
    8. 8. ROI  Return on investment  (Gain from investment - cost of investment) / cost of investment  In other words, you want to get out more then you spend  ROI != ROAS
    9. 9. Inputs  Time  Money  Human resources  Opportunity costs
    10. 10. Outputs  Bottom line  Sales revenue  Tangible results  Sign-ups for a newsletter  Intangible results  Sentiment / reputation  Something inbetween  Engagement  Advocacy  Audience / reach
    11. 11. What do you measure  Audience  Potential reach  Reach  How far does your message travel?
    12. 12. What do you measure  Engagement  How much does your audience engage with you, and how often? How much do they share, comment on, or like your content?
    13. 13. What do you measure  Sentiment  Is your audience saying positive or negative things about you? How negative or positive is the overall tone?
    14. 14. What do you measure  Influence  Are you influencing your audience to take actions? Are you reaching key influencers?
    15. 15. Trivia?
    16. 16. Reach - Specifics  Facebook  Total reach  Impressions  Instagram  Followers  LinkedIn  Followers
    17. 17. Reach - Specifics  Twitter  Followers  YouTube  Subscriptions  Views  Minutes watched  Traffic and interactions on websites and blogs driven by social
    18. 18. Engagement - Specifics  Facebook  Engagement rate  Number of ‘stories’ created by users (i.e. number of interactions)  Page likes / post likes  Clicks  Instagram  Likes
    19. 19. Engagement - Specifics  LinkedIn  Likes  Comments  Twitter  Favourites  Retweets  Clicks (ow.ly / bit.ly)
    20. 20. Engagement - Specifics  YouTube  Likes  Favourites  Shares  Subscribers
    21. 21. Influence - Specifics  Number of mentions by top influencers, as identified by Radian 6 / Sysomos
    22. 22. Sentiment - Specifics  Net sentiment change in Radian6, Sysomos  Sentiment around an issue / event
    23. 23. The good news  You can start measuring the results of your efforts right now, without spending a dime, using native or freemium dashboards.  You can sometimes dive into enterprise-level dashboards as trials.
    24. 24. Tools – Enterprise dashboards  Salesforce: Radian6  Sysomos: Heartbeat  Meltwater  uberVU
    25. 25. Tools – Native dashboards  Facebook  LinkedIn  Twitter  YouTube  Instagram (Iconosquare)
    26. 26. Paid platform-specific dashboards  Hashtracking  Tweetreach  Tailwind  EdgeRank Checker
    27. 27. Freemium dashboard
    28. 28. Multi-platform paid dashboard
    29. 29. Selling it to the C Suite – don’t  How do we turn this into money?  You don’t necessarily - it’s part of a marketing funnel  “You set ‘em up - we knock ‘em down” mentality  Change over time  Sentiment - proxy  Social care  Social CRM
    30. 30. Problems  Twitter reach:  http://www.unmarketing.com/2012/04/15/when- we-exaggerate-our-size-everyone-loses/
    31. 31. The magic formula  Try something.  If it works, do more of it.  If it doesn’t, do less of it.  Rinse, repeat.
    32. 32. Resources  Olivier Blanchard - Social Media ROI: http://www.amazon.ca/dp/0789747413  Beth Kanter - Measuring the Networked Non- Profit: http://www.amazon.ca/Measuring- Networked-Nonprofit-Using- Change/dp/1118137604  Katie Delahaye Paine - Measuring What Matters: http://www.amazon.ca/Measure-What-Matters- Understanding-Relationships/dp/B00D821V28  Avinash Kauishik – Web Analytics 2.0: http://www.amazon.ca/Web-Analytics-2-0- Accountability-Centricity/dp/0470529393
    33. 33. Reach out  facebook.com/markus64  ca.linkedin.com/in/markfarmer64  twitter.com/markus64  webheresies.com
    34. 34. Appendix A: listening  Passive Listening  The most basic level. There is no interaction at this level, just listening.
    35. 35. Appendix A: listening  Active Listening  Takes passive listening further by interacting with audience members online. This can be as simple as acknowledging a question, commenting on a conversation, or liking a comment.  This helps personalize digital media, and demonstrates that you’re active and responsive.  Active listening can help you learn about customers, their concerns and perceptions.
    36. 36. Appendix A: listening  Social Care  Social care takes listening to the next level by using social channels as a way to deliver customer service, responding to complaints and concerns, fielding requests and so on.  As people see an organization respond to customer care issues online, they become more likely to use these channels for customer care themselves. This may shift more customer care online from traditional channels.

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