Demystifying Social Media Measurement

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The social media frenzy is escalating, as millions of consumers flock to sites like Facebook, Twitter, YouTube and Flickr to find their social media fix. Now, marketers seek out customers in these new channels, and an estimated 86% of them plan to increase their investments in social media activity this year. However, among these marketers, a staggering number are failing to measure the effects of their efforts. Nonetheless, dollars are flowing from traditional marketing activities to social media methods. Now more than ever, it's imperative to measure the results of social media marketing.

Learn how to:

• Identify the focal point for measuring social media activity
• Align strategic measurement with business objectives
• Create Key Performance Indicators for social media measurement
• Recognize metrics that offer insight into your customers' social activity
• Use a framework for truly understanding social media marketing

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  • I acknowledge Lovett for this presentation. Thank you also Aquent! Great insight
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Demystifying Social Media Measurement

  1. 1. <ul><li>Demystifying Social Media Measurement John Lovett of Web Analytics Demystified strips away the hype of social media and applies proven measurement practices. In this session you'll learn how to: </li></ul><ul><li>Identify the focal point for measuring social media activity </li></ul><ul><li>Align strategic measurement with business objectives </li></ul><ul><li>Align strategic measurement with business objectives </li></ul><ul><li>Create Key Performance Indicators for social media measurement </li></ul><ul><li>Recognize metrics that offer insight into your customers' social activity </li></ul><ul><li>Use a framework for truly understanding social media marketing </li></ul><ul><li>    </li></ul>
  2. 2. DEMYSTIFYING SOCIAL MEDIA MEASUREMENT Presented by: American Marketing Association Sponsored by: Aquent Speakers: Alli Libb, American Marketing Association John Lovett, Web Analytics Demystified
  3. 3. Introduction <ul><li>Senior Partner, Web Analytics Demystified, Inc. </li></ul><ul><li>We offer Consulting, Content & Community </li></ul><ul><ul><li>Free books: www.webanalyticsdemystified.com/content/books.asp </li></ul></ul><ul><ul><li>Education: Analysis-Exchange.com </li></ul></ul><ul><ul><li>Dialog: http://john.webanalyticsdemystified.com </li></ul></ul><ul><li>Focused on measurement process, organizational structure, and overall digital analytics strategy </li></ul>@JohnLovett
  4. 4. <ul><li>46% of online American adults 18 and older use a social networking site </li></ul>Social Media Hits Mainstream Source: Pew Internet & American Life Project http://pewinternet.org/Infographics/Growth-in-Adult-SNS-Use-20052009.aspx
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  7. 7. Social Media Is No Joke <ul><li>Facebook exceeds Google.com in weekly visits with 7.07% of Internet traffic </li></ul><ul><li>Tweet volume grew 16x this year alone </li></ul><ul><li>Blogging has become a full-blown professional career for some, with mean annual revenues of $61K </li></ul>
  8. 8. Postmodern Marketing Requires New Thinking Yada, yada yada…. IS ANYONE LISTENING? Yada, yada
  9. 9. Image Source: Twitter Cocktail Party apture.s3.amazonaws.com
  10. 10. Did you hear what she said? No, but her brand is awesome.
  11. 11. <ul><li>Social media is about people. </li></ul><ul><li>That’s your focus. </li></ul>Finding Focus Amid the Cacophony of Noise
  12. 12.
  13. 13. <ul><li>Analytics is the study of the behavior of web site visitors. </li></ul><ul><li>visitors, AKA People! </li></ul>
  14. 14. By the numbers… <ul><li>“ While 2009 may have been a “trial” run for many brands and social media, in 2010, CMOs expect social initiatives to directly impact their bottom lines, without exception.” </li></ul><ul><li>“ CMOs reported that 64% of them would increase their social media budgets within the next year.” </li></ul><ul><li>In 2009, 89% of CMOs tracked social media's impact by using standard metrics such as site traffic, pageviews, and number of fans. </li></ul>Source: BazzarVoice “ CMOs Plan for Higher Social Media Measurability in 2010 ” December 8, 2009
  15. 15. <ul><li>The vast majority of businesses tracking social media today are using the wrong metrics ! </li></ul><ul><li>It’s time for a new Social Media Measurement standard. </li></ul>
  16. 16. Introducing… <ul><li>Social Marketing Analytics is the discipline that helps companies measure, assess and explain the performance of social media initiatives in the context of specific business objectives. </li></ul>
  17. 17. Measure by Business Objective <ul><li>Foster Dialog </li></ul><ul><li>Promote Advocacy </li></ul><ul><li>Facilitate Support </li></ul><ul><li>Spur Innovation </li></ul>
  18. 18. Align KPIs with Business Objectives <ul><li>Key Performance Indicators… </li></ul><ul><ul><li>Provide context </li></ul></ul><ul><ul><li>Set expectations </li></ul></ul><ul><ul><li>Mandate actions </li></ul></ul>
  19. 19. Use a Framework for Measurement Objective KPI KPI KPI
  20. 20. Foster Dialog & Measure Success Dialog Share of Voice Audience Engagement Conversation Reach
  21. 21. Dialog: Objectives & Indicators in Action <ul><li>Dialog Requires: Building awareness by initiating the conversation </li></ul><ul><li>KPI: Share of Voice is the relative percentage of brand mentions in social channels (i.e., articles, blogs, comments, Tweets, videos, etc.) among a competitive set. </li></ul><ul><li># specific brand mentions / Total mentions (brand + Competitor A, B, C, D, n) = Share of Voice </li></ul>
  22. 22. Dialog: Objectives & Indicators in Action <ul><li>Dialog Requires: Engaging with individuals to determine their response to ideas, thoughts, products and activities generated by the organization. </li></ul><ul><li>KPI: Audience Engagement is the proportion of visitors who participate in a specific marketing initiative by contributing comments, sharing or linking back. </li></ul><ul><li>Total comments + shares + trackbacks / Total views = Audience Engagement </li></ul>
  23. 23. Dialog: Objectives & Indicators in Action <ul><li>Dialog Requires: Responding to individuals on behalf of the brand through genuine interactions. </li></ul><ul><li>KPI: Conversation Reach is the number of unique visitors who participate in a specific brand/issue/topic conversation across one or more social media channels. </li></ul><ul><li>Total people participating / Total audience exposure = Conversation Reach </li></ul>
  24. 24. Promote Advocacy & Measure Success Advocacy Active Advocates Advocate Influence Advocacy Impact
  25. 25. Advocacy Requires… <ul><li>Encouraging word of mouth activity by promoting and endorsing conversations shared by individuals. </li></ul><ul><li>Developing relationships with individuals who have an affinity towards the brand. </li></ul><ul><li>Nurturing existing relationships with customers as a proven method of building advocacy within an easily identified segment. </li></ul>
  26. 26. Advocacy KPIs In Action
  27. 27. Facilitate Support & Measure Success Support Resolution Rate Resolution Time Satisfaction Score
  28. 28. Support Requires… <ul><li>Resolving service issues through social media channels via direct company response and crowd-sourcing alternatives. </li></ul><ul><li>Expediting issue resolution with quality and integrity. </li></ul><ul><li>Elevate satisfaction through flexible support options. </li></ul>
  29. 29. Support KPIs In Action
  30. 30. Spur Innovation & Measure Success Innovation Topic Trends Sentiment Ratio Idea Impact
  31. 31. Innovation Requires… <ul><li>Gathering customer insights via social media channels with a clear mission of identifying market needs and service opportunities. </li></ul><ul><li>Processing ideas and community feedback as a means to drive products and services requires receptive product managers. </li></ul><ul><li>Delivering new products and services to the market with credit and acknowledgement to customers. </li></ul>
  32. 32. Innovation KPIs In Action
  33. 33. Social Marketing Analytics Framework Objective KPI KPI KPI
  34. 34. Wait a minute… What about Twitter, and Facebook, and YouTube, and…
  35. 35. Wait a minute… What about Twitter, and Facebook, and YouTube, and…
  36. 36. Specific Channels Are Secondary to Strategy <ul><li>Find your audience, wherever they may be. </li></ul><ul><li>Recognize influence above the noise. </li></ul><ul><li>Promote advocacy and leverage your people. </li></ul>
  37. 37. Ahem… Aren’t you forgetting something here?!?!! Yeah Dude, What about the vendors?
  38. 38. Ahem… Aren’t you forgetting something here?!?!! Yeah Dude, What about the vendors?
  39. 39. The Social Bandwagon Confuses Marketers <ul><li>The perfect social media measurement vendor does not exist. </li></ul><ul><li>Existing vendors shine at listening, sentiment and trending conversations. </li></ul><ul><li>Technologies can facilitate data collection in diverse social media, but there are no silver bullets. </li></ul>
  40. 40. A New Social Media Measurement Playbook is Mandatory <ul><li>Measure based on specific business objectives. </li></ul><ul><li>Use Key Performance Indicators to Become a Measurement Hero. </li></ul><ul><li>Adopt the Social Marketing Analytics Framework and make it your own. </li></ul>
  41. 41. Want to Learn More?
  42. 42. <ul><li>John Lovett </li></ul><ul><li>[email_address] </li></ul><ul><li>www.webanalyticsdemystified.com </li></ul><ul><li>Twitter: @JohnLovett </li></ul>Questions?

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