Measuring Social Media is Easy

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Presented during Social Media Week this September, Ronnie Brown and Carlos Menezes from Quirk London investigate the challenges (and solutions) that surround measuring social media and showing ROI.

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Measuring Social Media is Easy

  1. 1. Measuring Social Media Is EasyQuirk @ Social Media Week#SMWSOCIALROI
  2. 2. AdWords *sigh*
  3. 3. PR
  4. 4. TV
  5. 5. Social *yay*
  6. 6. Challenges
  7. 7. and #winning
  8. 8. Issue #1:New(ness)
  9. 9. Selling social to your boss1. Solve a business issue2. Use data he understands3. Good and bad examples4. Benefits not features5. Be realistic / concentrate on now6. Manage risk7. Appeal to his ego
  10. 10. The biggest need in social media or analytics isn’t forus to be better analysts, technical specialists orsocial media managers.Rather, we need to be better salespeople andcommunicators.Remember – you own your data and insights. Thoseare your products.
  11. 11. Issue #2:Online / Offline
  12. 12. Bridging the “assumption” gap1. Everything we do is based on assumptions.2. But we are very bad at doing two things: • Stating our assumptions • Testing & validating them
  13. 13. Issue #3:Objectives
  14. 14. Engagement is not an objective
  15. 15. Ask three fundamental questions:1. Why does this exist?2. What do I want people to do?3. How do we know they are doing that?
  16. 16. Business Objectives Channel Objectives Campaign Objectives BenchmarkKPIs Targets
  17. 17. Increase market penetration by 10% by Feb 2013 Increase reach of 16-24 males by 20% by Feb 2013Build a loyal community of 16-24 male brand advocates on Facebook by Feb 2013 Competitor likes between 20-25k 25k page likes Current likes stands at 18k 7.5% engagement rate 6% engagement rate is good
  18. 18. Remember – there’s one more objective that weshould have from Social Media: learning.Learning both about our audience as well as ourown endeavours. How many of us set those asobjectives and measure the value?
  19. 19. Issue #4:Benchmarks
  20. 20. Comparisons / Case Studies1. Create your own over time2. Share3. Here are some that might help: • http://www.iabuk.net/resources/case-studies • http://www.simplyzesty.com/social-media/50-social-media-case-studies-worth-bookmarking/ • http://socialmediatoday.com/igiedrius/268023/fantabulous-lists-social-media-case-studies • http://thenextweb.com/socialmedia/2011/07/16/the-roi-of-social-media-10-case-studies/4. Other media?
  21. 21. Issue #5:Visibility
  22. 22. Getting reporting right1. Be specific2. Comparisons3. Insight & next steps not commentary4. Tools & shortcomings5. Overlay
  23. 23. • Communication is key• Are you using common reporting templates?• Are you talking in a currency that everyone understands?• Are you trying to measure revenue? What about profit, cost savings and additional value?• Are you being clear with your assumptions?
  24. 24. Your own challengesFrom your responses, there were three mainchallenges that arose:• We use different tools; how do we integrate our reporting?• How do we achieve reliable measures for sentiment?• How do we prove value to the business?
  25. 25. Ask yourself some tough questions
  26. 26. Uranus Equatorial radius: 25,000 km Orbit: 84 years Day: 17h 14min Distance from sun: 3 billion km 27 natural satellites
  27. 27. Business Metrics Revenue, Cost Reduction, Reputation, NPS. Executives (CEO, MD, FD etc.) Social Media Analytics Social Media / Marketing / Brand / Category Managers SOV, WOM, Brand Love, Support Response, Advocacy Engagement Data Community Managers, Social Media / Brand / Marketing Fans, Followers, RT’s, Check- ins, CTR Executives© 2010 Alitmeter Group
  28. 28. But remember economic value
  29. 29. Rather than technical or mathematicalin nature, our biggest challenges in thefield of measurement are cultural andattitudinal.
  30. 30. “To condense fact from the vapor of nuance”“…the human mind can absorb and process an incredibleamount of information - if it comes in the right format. Theright interface. If you put the right face on it.”Neal Stephenson
  31. 31. Thank you
  32. 32. 1 - Facebook - albawaba.com/editorchoice/1-5-bosses-reject-candidates- 14 - Smart - rapidbi.com/10-tips-for-setting-smart-er-goals-and-after-seeing-their-facebook-profiles-417984 objectives/attachment/220620101720/2 - Adwords - rypmarketing.com/portfolio-ppc.htmlPress coverage - 16 - Think Feel Act - blogs.ethz.ch/rindi/2010/12/easy-graphical-illustrations-http://www.aspiremarketingltd.com/2011/07/13/on-running-press- of-complex-things/coverage/ 17 - Raised Hands - neonbrand.com/tag/facebook-questions/3 - PR Coverage - aspiremarketingltd.com/wp-content/uploads/2011/07/Press-Coverage-Collage-Mar-11-Jun-11.jpg 20 - Bike - flickr.com/photos/hepcat75/6024138632/4 - Television - about-technology.info/science-and-technology/television 21 - Bench - simple.wikipedia.org/wiki/File:LaGranja_park_bench.jpg5 - Cheque - dee4life.com/homepage/2011/2/14/fundraising-continues- 22 - Cases - altupdate.wordpress.com/cheque-these-out.html 23 - Visibility - sustainableguernsey.info/blog/2011/10/goldridge-estate-6 - Down with this sort of thing - darkling.tv/blog/page/2/ agents-donate-high-visibility-jackets-to-amherst-primary-school-children/7 - Charlie Sheen - wallpaper4me.com/resize_wallpaper.php?id=6414 24 - Report Card - thelastdoordownthehall.blogspot.co.uk/2010/09/report- cards-freebies.html8 - New - foginfo.org/new-website/ 25 - Hammer to Head - flickr.com/photos/hepcat75/6024138632/10 - Sign - warriorfitness.org/2012/05/16/muscle-confusion-got-ya-confused/ 27 - Joker & Batman - dcfan3599.tumblr.com/post/29309849998/after- watching-the-dark-knight-rises-and-looking11 - Hand Puppets - flickr.com/photos/assbach/262165233/ 29 & 30 - Uranus - iabuk.net/research/library/social-media-measurement- framework Picture credits 32 - Avinash Kaushik - blog.stamats.com/index.php/2010/09/10/aggregation-of-marginal-gains- big-wins-with-small-changes/ 33 - Table - www.kaushik.net 35 - Neal Stephenson - 0.tqn.com/d/physics/1/0/_/0/-/-/Einstein100th.jpg12 - One Way - cslacker.com/images/view/406 37 - Awesome planet - carterbsmith.deviantart.com13 - Assumption - idlespeculations-terryprest.blogspot.co.uk/2010/08/oldest-marian-feast.html 38 - Picture frame - free-photo-frames.com

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