PR News Digital Summit 2011
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Prove the Value of Your Digital Efforts to the C-Suite
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PR News Digital Summit 2011
- 1. Prove the Value of Your Digital Efforts to the C-Suite Angela Jeffrey, APR Founder, MeasurementMatch.com Member, IPR Commission on PR Measurement & Evaluation PR News Digital PR Next Practices Summit October 5, 2011 – New York
- 6. Step 2 - Research Stakeholders and Prioritize Used with Permission - Sally Falkow
- 8. Step 4 - Set Digital/Social Media KPIs Against Each Objective Used with Permission - Avinash Kaushik o Objective: Increase New Home Sales 10% in Six Months among Prospective Buyers
Editor's Notes
- Good afternoon! I’m Angela Jeffrey, Founder of MeasurementMatch.com – a matching service for clients and measurement solutions – and a member of the IPR Commission for PR Measurement & Evaluation. I’m going to focus on today’s promise to deliver a “step by step guide” to develop your measurement program. This guide is the result of a great deal of study which I’ve synthesized for you in a free white paper – “Social Media Measurement: Pulling it all Together,” which is available on my LinkedIn site. The paper will provide the granular “how to” and “tools” information we can only tease-up in this session.
- So who, exactly, is proving their value to the C-suite? Not so many. Econsultancy found that only 22% of the companies they surveyed had a strategy that ties data and analysis back to business objectives! Alterian found 28% were in that category. And B2B Magazine reported a whopping 81% don’t measure the ROI of their web analytics. So, lots of opportunity exists! To create metrics that are C-Suite worthy, you need to think through your measurement strategy from start to finish and select metrics as you go. To help you do this, I will introduce to you: A social media measurement framework from AMEC – an international association of media analysis firms A simple 8-Step Measurement Process Four practices I found most compelling in all my research.
- So first, the AMEC Valid Metrics Framework for Social/Community Engagement (a copy of which is on your tables). Vertically, the Framework lays out metrics for the various PR Stages including PR Activity, Intermediary Effect and Target Audience Effect through the Communications Funnel, from Awareness through Knowledge, Interest, Support and Action. Under Public Relations Activity , you will measure your EFFORTS. For example, how many blog posts, blogger events, briefings, Twitter posts, or other activities did you do to get social media engagement? These basic scores can be correlated later to Target Audience Effect! Under Intermediary Effect , you will measure what the media, bloggers and influencers are doing. For awareness , you might look at audience impressions or % share of conversation. For knowledge, look at key message alignment or accuracy of facts; for interest, look at network followers; retweets, shares, link-backs); and for support, look for endorsements, fans and likes. Under Target Audience Effect , you can measure Awareness through surveys or maybe by numbers of website and social network visitors. Skipping past Knowledge to Interest , you might measure click-throughs, time spent on site or downloads . For Support, look at brand preference scores, endorsements or trials. Then FINALLY, move to the pay-off, what the C-Suite wants to see … ACTION! Leads, Sales, Market Share, Advocacy, Brand Engagement, Cost Savings. So this is a great starting place for envisioning the kinds of metrics you may want to incorporate into your program, and where they fit. But it begs the question: where do I start, and what tools should I use ?
- So, here is a simpler Eight-Step Measurement Process -- which is easy to follow, and that incorporates the AMEC metrics within. Let’s review them quickly. (Read through) Define organizational goals – (they’ll either raise revenue, lower costs or increase customer satisfaction or engagement) Research stakeholders and prioritize – (we’ll dig into this in a minute) Set specific objectives for EACH stakeholder group - (remember – an “objective” is a “clearly defined statement such as “We will increase brand engagement by 10% in six months among mommy bloggers.” Set digital/social media KPIs against each objective ( KPIs use technical data, and enable you to easily show progress over time) Choose tools and benchmark (using AMEC framework) (Here’s where those hundreds of tools come in! We’ll talk more about this in a minute). Analyze the results and pull ROI (and dig deep for real insights) Present to management (tell a story; limit to 1-2 pages and focus on Target Audience Activity!) Measure continuously and improve performance . (Next slide)
- Given our time constraints, I’d like to focus on just three of these – Steps 2, 4 and 5 – and wrap with a final fun tip. But all of this is covered in great detail – with suggested tools – in the white paper.
- Step 2 - Researching Stakeholders and Prioritizing - The most critical work in your whole program will be figuring out where your stakeholders are congregating, what they are saying, and how to prioritize them. 1. Surveys – Interview (internally) 1. Creating a Social Graph for your most important brands or issues - which Sally Falkow has laid out beautifully here. To do a Social Graph, take each of your most critical stakeholder groups (the media, bloggers, customers, employees, analysts, etc) and obtain names or email lists of their most important members. Or, do keyword searches of topics and organizations, and see which stakeholders pop up. The goal is to discover where they are engaged and how to best reach each group , recognizing that there will be a great deal of overlap. A few tools great tools are:
- A few tools great tools are: Ecairn and Traackr, of course, and RowFeeder - which feeds directly into Excel with where your stakeholders are engaged, and their Klout scores Export.ly – which takes all your Facebook and Twitter followers, determines where else they are engaged, and when. Keyword and Message Analysis – This can be done for free using monitoring tools ( Google Alerts, Social Mention, Ice Rocket or Addict-o-matic) , charting your results in Excel; or by using paid tools like Dow Jones Insight, Alterian SM2 or Cymfony , or the like. After this research, you should be able to set solid objectives for each stakeholder group, and move on to KPIs.
- So – let’s say our Objective for our real estate client is to increase prospective homebuyer leads by 10% in the next six months. How do I set specific KPIs against this? I love this simplified Web Analytics Measurement Model from Avinash Kaushik, a true digital media guru, because it illustrates how simple it can be to sketch out specific KPI’s once objectives have been established. This particular plan addresses goals for a website, but you can easily envision how a goal of “capturing leads” could easily be tracked with a KPI objective of “45 e-newsletter sign-ups a month” or through “20 home tours a month.” If this were a Facebook site or blog, your KPI might be “10,000 entrants per month” to a contest to win a free home! Creating a simple matrix for yourself to match objectives for each stakeholder group with specific metrics will help you visualize the process, after which you can finally start choosing measurement tools .
- Step Five is a huge section in my paper with tons of tools. I’m going to skip past PR Activity and Intermediary Effects and focus only on Target Audience Effects, which is all that matters to the C-Suite: Surveys – yes, they still matter, especially if you have a non-financial, advocacy-type goal. Advanced Statistics – market mix models, regression or Pearson Correlations in Excel. I can send you a very short Powerpoint on how to do this if you’d like. You can correlate “outcomes” like leads, sales or survey scores to your PR activities and KPIs and see the relationship between them. Web Analytics , which allow you to see: Where your traffic coming from (direct, search, paid search, earned media, email … PureResponse by Pure360 What visitors from each URL are doing on your site , whether they are hitting your goals, or not … Help you develop strategy with empirical evidence . For instance, is your Twitter account resulting in white paper downloads? Is a particular key message working best at getting visits, engagements, registrations? 4. But the coolest are systems that integrate web analytics into CRM systems like Radian6 with Salesforce , Alterian and Attensity . Pricey, but worth every penny.
- Finally – my Tip of the Day is to urge you to set-up specific KPI goals in your analytics programs. In Google Analytics, for example, a “GOAL” might be a URL destination . Whether or not you have a web analytics team, I recommend you learn the process for yourself by reading SAMS Teach Yourself Google Analytics in 10 Minutes . Now, Avinash challenges us to go a step by assigning dollar values to each KPI goal, whether they are a “macro conversions,” (which might be a “sale,”) or a “micro conversions” (any other action that leads up to the sale). So, let’s say our “macro” goal is a sale, with an average sale of $500. One of our “micro” goals might be a “Contact Me” sign-up page. How many “Contact Me’s” do you need to get for each sale? If, for example, 10% of those who request to be contacted actually buy your product, you might assign $50 (i.e. 10% of $500) to the “Contact Me” goal. You’ll want to get the buy-in of management as to how these micro-goals will be valued, but many have found using a dollar to dollar comparison as a common currency much easier for management to “get” than Time Spent on Site, Daily Average Visitors, Fans, Likes or other digital-speak. It can also be easier to correlate dollar KPIs to outcomes or to cost-per-metrics.
- Study the AMEC Valid Metrics Framework Work through the 8-step process to flesh-out your program, choose the right tools and tie everything together. Do your Social Graph as the basis of your strategy Once you’ve got your objectives, develop measurable KPIs for each Measure outcomes using surveys, advanced statistics or web analytics Finally, learn to set financial goals in Google analytics yourself!