Suggests that smaller organizations care much less about calculating ROI; but this isn’t statistically significant.
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Topsy provides a web based analytics solution called Topsy Pro Analytics for a number of verticals. Their main customers are brands, agencies, news/media and finance organizations. Topsy’s main focus is on allowing you to get instant results for any search without requiring prior setup. They’ve also partnered with a number of organizations like Twitter and Mashable for public sites, one of particular interest is SXSW Trendspotter which is tracking live trends this week at SXSW 2013 at http://sxswtrends.mashable.com
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MENTION EURO DATA RESTRICTIONS
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Logo TV, a Viacom company, uses social media to build engagement around its lineup of original and syndicated programs including Ru Paul’s Drag Race, NewNowNext, and Bewitched. They use Offerpop’s Categories to easily categorize their posts by type, and see how they stack up against key metrics: reach, virality, clicks, People Talking About This, and Engaged Users.
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Totango, Flurry,Parsely Dash
But remember: RIGHT time is better than realtime. Realtime only works if you can have an actionable response in the same timeframe, which generally means automation and parsing exceptions.
Tweetable moment!PERFECT ANALYTICS should not come at the cost of adequate insight
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Advanced Social Media Monitoring
Social Media Analytics Workshop #SXSW 2013 #leansocial #socialmeasure Susan Alistair Margaret Blake Etlinger Croll Francis Robinson@setlinger @acroll @margaretfrancis @blake
What You Will Get Out Of ThisWorkshop• Insight into how companies are measuring ROI for social media activities in sales, marketing, operations functions and more• Better understanding of correlation vs. causality and other analysis best practices• Examples of the metrics brands use to demonstrate social media success – For channels – For campaigns – For ROI• Overviews of the tools, applications, and approaches they use to get them• Guidelines & best practices for data visualization
Workshop Agenda• 3:30-3:40: Intros & Logistics• 3:40-3:50: Measuring ROI• 3:55-4:05: Analysis best practices• 4:10-4:20: Choosing Social Networks• 4:25-4:40: Channel Metrics• 4:45-5:00: Campaign Metrics• 5:05-5:15: Data Visualization• 5:20-5:35: ROI Analysis Reprise• 5:35-6:00: Q & A/ Final Wrap Up• 5 minutes breaks throughout are for audience participation/ Q&A
Introductions• Susan Etlinger: The Industry Analyst @setlinger – Measurement matters because companies need to know ROI. And it is possible to measure ROI on social media marketing programs• Alistair Croll: The Entrepreneur @acroll – Measurement matters because data should inform business design and direction. And doing it well is both art and science.• Blake Robinson: The New Tech Specialist @blake – Measurement can help us improve campaigns- social, digital, cross channel. There are some great applications out there to help us execute.• Margaret Francis: The Marketing Exec @margaretfrancis – Measurement is a key element of audience understanding and the genesis of all campaign design and execution. Especially on social channels.
Relative Importance of Topics5.204.704.203.70 High Low Avg3.202.702.20 Challenges of What makes a SM best Calculating the Case studies & Tools overview The future social data good metric practices value/ROI examples
(We got a little carried away)Organizational Un- Somewhat Very Absolutelysize important important important critical2-10 2 2 5101-500 4 511-100 3 4 95001+ 1 4 1501-5000 1 2Grand Total 3 5 13 22
Qualitative Insights• “There’s no consensus on how to measure ROI in the industry. Or even on my team.”• “There’s no one tool that does it all.”• “I have to go to every single social network to get metrics.”• “The metrics are different on every network.”• “I know it’s important to analyze. I just have limited time and resources to do it.”
Q&A• What other topics should we hold time at the end of the session for?
Companies now average an overwhelmingnumber of corporate-owned accounts
―41% of of more than 1,000companies and agencies surveyedhad ‗no return of investment figure for any of the money they had spent on social channels as of October 2011.‘‖ eConsultancy, State of Social Report, November 2011 17
“There is no single ROI for social media.”Richard Binhammer, Dell Inc.
Why not? The Honeymoon Period: Measurement challenges and exuberance have granted a (temporary) reprieve Authentication and identity: Still nascent: Facebook Connect, OpenID have low adoption: CRM integration yet to come Organization isn’t ready: Silos trap critical insight and inhibit sharing For ROI, only half the picture: No one is looking at the ―I‖ in ROI--yet 28
Emerging Trends Holistic View of Top-Down, Bottom-Up • Ecosystem of tools: no single tool can satisfy every organizational requirement or bridge the many device gaps • Qualitative measurement will provide context Data triangulation/integration is just beginning • CRM, BI, Market Research. The customer-of-record and the product-of-record Customer journey becomes even more dynamic • More devices generating data feeds and streams • The race to solve for identity Organizational integration is beginning—slowly • It‘s not a linear path 30
―I feel like we‘re all data chemists atthis point, trying to put a bunch of stuff into our beakers to see if it works.‖ − Ken Burbary Chief Digital Officer, Campbell Ewald 31
Q&A• Which business goals is most important for your company? What’s secondary? Tertiary? – Operational Efficiency – Marketing Optimization – Innovation – Revenue Generation – Brand Health – Customer Experience
Analytics is the measurementof movement towards yourbusiness goals. http://www.flickr.com/photos/itsgreg/446061432/
Kevin Costner is a lousy entrepreneur. Don’t sell what you can make. Make what you can sell.
In a startup, the purpose ofanalytics is to iterate to aproduct/market fit beforethe money runs out.
Most startups don‘t know what they‘llbe when they grow up. Freshbooks Mitel was invoicing Wikipedia was aPaypal lawnmower for a web was to befirst built for company design firm written byPalmpilots experts only AutodeskHotmail Flickr Twitter madewas a was going to was a desktopdatabase be an MMO podcasting automationcompany company
Clear, comparable ratios Tied to your business modelA good metric is Actionable, not vain Correlated or causal Leading or Lagging
Comparable ratios: think about acar• Clear: You know 60MPH is twice as fast as 30MPH – In a country, speed limits and mileage are well understood – Kilometers are conveniently decimal; miles map to hours• Rates: Miles travelled is good; miles per hour is better; accelerating or decelerating changes your gas pedal• Business model: You can measure ―MPH divided by speeding tickets‖ as a metric of ―driving fast without losing my license‖
Vanity Actionable Picks a direction.Makes you feelgood, but doesn‘tchange how you‘llact.http://www.flickr.com/photos/lostseouls/807253220/ http://www.flickr.com/photos/aussiegall/6382775153/
A metric from the early, foolish days of the Web.Hits Count people instead. Marginally better than hits. Unless you‘re displayingPage views ad inventory, count people. Is this one person visiting a hundred times, or are aVisits hundred people visiting once? Fail. This tells you nothing about what they did, why theyUnique visitors stuck around, or if they left.Followers/friends/l Count actions instead. Find out how many followersikes will do your bidding.Time on site, or Poor version of engagement. Lots of time spent onpages/visit support pages is actually a bad sign. How many recipients will act on what‘s in them?Emails collectedNumber of Outside app stores, downloads alone don‘t lead todownloads lifetime value. Measure activations/active accounts.
http://www.flickr.com/photos/circasassy/7858155676/ it‘s a If it won‘t change how you behave,badmetric.
2-sided market model:AirBnB and photography• Stage: Revenue• Model: 2-sided marketplace• Rental-by-owner marketplace that allows property owners to list and market their houses. Offers a variety of related services as well.
AirBnB tests a hypothesis• The hypothesis: ―Hosts with professional photography will get more business. And hosts will sign up for professional photography as a service.‖• Built a concierge MVP• Found that professionally photographed listings got 2-3x more bookings than the market average.• In mid-to-late 2011, AirBnB had 20 photographers in the field taking pictures for hosts.
A few words on causality. http://www.flickr.com/photos/roryfinneren/65729247
Correlated CausalTwo variables that An independentchange in similar factor that directlyways, perhaps impacts abecause they‘re dependent one.linked to somethingelse. Summer Correlated Drowning Ice cream consumption
Leading LaggingNumber today that Historical metric thatshows metric shows how youretomorrow—makes doing—reports thethe news. news.
Q&A• Do you believe that your personal engagement with brands via social media causes you to behave differently as a consumer/ customer? – Always – Sometimes – Occasionally – Never – I’m a confirmed Luddite that has opted out of all social media network participation so this is N/A for me. I’m just here to watch.
Q&A• Do you believe that consumer/ customer engagement with your brand(s) via social media causes new behaviors or is social media engagement with your brand(s) correlated to other phenomena? – Causative – Correlative – Both. Depends on the situation – Neither
Social Network Adoption Feb 20131 Billion+ 500 Million+ 800 Million+ 400M+ 200M+ 90M+ 25M+ 300M+ 150M+ 25M+ 100M+
Social Media Monitoring: Collectionof and insight into UGC• Mentions by network/ media type• Volume trends over time• Semantic analysis/ themes• Sentiment analysis• Limited geo data• Limited demo data• Limited influencer data• Some traditional media monitoring capabilities• Slicing & Dicing capabilities
Partial List of Social MediaMonitoring Applications
Monitoring Metrics as MirrorMETRIC HOW USEDCOMPETITIVE BUZZ If we map social media activity / attention to our activities/ marketshare, are we getting what we deserve?THEMATIC ANALYSIS Are the products, brand attributes, features we want to communicate to consumers how they identify with us?BRAND FAVORABILITY/ Do consumers/ customers see us more or lessSENTIMENT favorably over time? Why? What about reporters & influencers?VERBATIMS Are consumers saying to each other what we want them to say? Are there insights we can get from their comments to each other?NPS (NET PROMOTER Hand labeling of data to assess whether or not aSCORE) piece of consumer generated content, or sum of a consumer’s generated content, represents an endorsement
Visible Technologies Visible Technologies: Comprehensive enterprise class monitoring. Comprehensive data & international content
Recorded Future Free and paid versions. So, so pretty. Good tool for tracking earned press coverage
Topsy • Complete index of Twitter 2010-now • Instant access to statistics for any term, hashtag, phr ase or handle (activity, reach, infl uence, geograph, s entiment, top tweets, links and more) • Used by Mashable & Twitter for projects like Twitter Political Index and Mashable SXSW Trendspotter
Topsy: All you can eatTwitter monitoring for ~$1K/ month
Social Media Marketing:Choosing Social Networks
Brands are participants nowAwareness/ Brand X X X X X X X XPromotions X X X X X X X XPR/ Influencer Mktg X X X X X X X XContent Distribution/Inbound Mktg X X X X X X X XCommunity Mgmnt/ X X X X X X X XSupportLead Generation X X X X X X X XDirect Sales X X X X X X X X
Content Marketing B2B example- ExactTarget examples of “best emails”
Community Management British Airways: Clearly communicates expectations for this and other corporate social media accounts, including hours of service
ADVICE: Consider which social networks you need to participate with, and why RyanAir: Does not Boots: Does not have correct logo appear to haveon FB, allows haters logged into Twitter to post for 2+ years
Q&A• Which social networks does your company… – Currently monitor – Currently market/ communicate on – Plan to expand to over 2013 and beyond
Marketing Process: Ideal vs. RealHow it should work: 1 2 3 4 Set business Create program Deploy to Measure & objective or campaign channels, Analyze including social Optimize & Improve
Marketing Process: Ideal vs. RealHow it actually works : 1 2 3 4 Look at the Let’s run a What a great Call an analyst adoption numbers campaign on campaign on to justify for social network XXX! XXX! campaign on XXX! XXX! 5 6 7 8 What metrics/ How can we Assemble in PPT Do these metrics KPIS can we get relate them to for presentation provide provable from XXX or our business to boss connections to our other sources? goals? goals? Attend seminar
Sample Channel MetricsSocial Channel Campaign BusinessNetwork (Per property or across (Time or Content bounded) properties)Facebook Fans, Likes , PTAT, Likes, Shares, Entries, • Direct or Attributed Sales Engagement Clicks, Conversions, • Website Traffic/ Views Rate, Click Revenue and • List Growth / Contest Through Rate derivatives entryTwitter Followers, Avg Impressions, Clicks, • Lead Gen / Sales Retweets, Avg # Retweets, Replies, Inquiries Favorites, Avg Favorites, Traffic • Support inquiries Clicks Source Analysis fielded/ CSAT • Loyalty: Renewal rates,YouTube Views, Comments, Views, ACV increase, recency, Subscribers, Avg New Subscribers frequency, purchase size Comments, Avg Brand preference: NPS, Share market share, equity,LinkedIn Followers, Likes, Likes, Comments, awareness Impressions Shares, Engagements
Sample Channel Metrics (cont)Social Channel Campaign BusinessNetwork (Per property or across (Time or Content bounded) properties)Pinterest Followers Pins, Repins, # • Direct or Attributed Pins Repinners, # Boards, Sales most clicked,Traffic • Website Traffic/ Views source analysis, • List Growth / Contest Content distribution entryGoogle+ # Circles Shares, Comments • Lead Gen / Sales # Pluses, Hangout Inquiries Participants • Support inquiries fielded/ CSATInstagram Followers Favorites, Comments, • Loyalty: Renewal rates, Likes, Follower ACV increase, recency, Growth frequency, purchaseTumblr Followers Comments, Likes, size Brand preference: Reblogs, Shares NPS, market share, equity, awareness
Typical Channel Dashboard: Chart or Set ofAnnotated Graphs Estimating ReachSocial Network Audience Size Trend Audience NotesFacebook SHOW BIGGEST # Up XXX % or Everyone Buying media Page1 maybe show little #’s YYY # last ZZZ sure helps caveat: duplicates Page2 period Page3Twitter SHOW BIGGEST # Digerati That one dude’s Handle1 maybe show little #’s RT made our caveat: duplicates Handle2 week. Invite him Handle3 to our party againYouTube SHOW BIGGEST # Down XXX% Unknown One ‘viral video’ Channel1 maybe show little #’s or YYY # over and no metrics caveat: duplicates Channel2 last ZZZ will ever look period good againLinkedIn SHOW BIGGEST # Buyers & All the real traffic Page1 maybe show little #’s Recruits is in messages caveat: duplicates Group1
SimplyMeasured: Great selection ofreports for different channels and use cases
Contrasting Audiences AcrossChannels Social Audience Growth Over Time Facebook Twitter Google+ YouTube 400New Fans/Followers/Circlers/Subscribers 350 300 250 200 150 100 50 0 SimplyMeasured: Aggregates audience numbers for owned accounts on multiple social networks, trending and giving you data in spreadsheet form. Extra Credit: Useful for competitive research
Simply Measured Complete Social Media Snapshot Report
Simply Measured Note the “export to PPT & Excel” options
Simply Measured Ranking content by engagement. Clicks available with the GA integration
Twitter Follow/ Unfollow• >add Twitter dashboard< Twitter: Does a nice job with the follow/ unfollow widget, for managing content relevance/ frequency. Downloadable CSV with numbers Caveat: Have to buy ads to get it.
Facebook: So many metrics- all completely proprietary!Facebook Good: Audience insights Bad: Tying purchase conversion to FB• >add Facebook dashboard< happens outside FB campaign
Instagram: Followers & Favorites• >add instagram dashboard< Instagram: Primitive but pretty. Stats now available on mobile
LinkedIn: Followers & Impressions• >add linkedin dashboard< LinkedIn Pros: We like the simplicity of the dashboard Cons: Download options? Real activity is in messages that aren’t tracked
ADVICE• Set up an Excel. List all your supported social properties in it.• Decide on frequency of audience measurement. Grab the basic metrics as expeditiously as possible.• Trend.• Pick a couple of competitors to to track on a different sheet. They’ll get less love when time is short
Q&A• Do you have basic audience metrics for the social media networks you actively engage on? – Yes, from native application/ interface – Yes, from other native application/ interface – Partial – No
Social & Cross ChannelCampaigns: Metrics & Tools
Collect Social Media Campaign- To separate Help embed Monitoring customized signal from 1 measurement code across the campaign tools that track 100% of a brand’s Boolean search algorithms gather relevant noise, human analysts extract spam plan Earned content from performance. conversation Enrich Analysts measure the Demonstrate Combine with Ingest and 2 types & social effects of data on contextualize volume of earned efforts Owned and data from Earned organic on sites and Paid social special tactics trends in microsites media and programs conversation tactics, Brand studiesAnalyze Normalize and Conduct Data Create Generate consolidate Analysis across clear, compelli regular in-flight 3 campaign updates and insights key metrics; combine with benchmarks Paid, Owned, E arned, and Brand ng infographics reporting, desi gned to be where shared available
Overall CampaignThe client’s campaign saw the greatest success with itsTV creative and a well-performing multi-media buy thattargeted like-minded communities to tell the story. Given The Brand 1 aw areness campaign 50% w as able to achieve 50% of the Spinethe creative messaging (brand) and low overall awareness campaign’s action rate*levels, the campaign performed strongly. 156,738 new Facebook Likes during the Brand 1 VS. Brand 2 campaign ﬂight SED PN $2,366,400 (TV) + $3,809,007 (TV) + TV $1,354,758 (Digital) 302,261,400 $1,540,823 (Digital) 334,459,500 85% of social conversation w as deﬁnitively IM RS IO S P ES N positive 99% D IT L IG A IM RS IO S P ES N 140,850,868 246,651,804 increase in average daily new visits to A E AG CR VR E T .17 % .53% the Brand 1 page (359,792 total new visits)KPIs: SITE VISITS AND IMPRESSIONS MEDIA PLAN DROVEVISITS 25K AWARENESS AND ACTION B C D IMPR SSIO E 9M NS A 8M20K 7M 6M15K 5M 4M10K 3M 2M 5K 1M 0 0 8/15 8/22 8/29 9/05 9/12 9/12 9/26 10/3 10/10 10/17 Brand 1 Visits B rand 1 First Microsite Visits Digital Impressions T eV im isits *Action rate deﬁned within SiteCatalyst as “visit path length greater than or equal to 2”
Sample Campaign MetricsSocial Channel Campaign BusinessNetwork (Per property or across (Time or Content bounded) properties)Facebook Fans, Likes , PTAT, Likes, Shares, Entries, • Direct or Attributed Sales Engagement Clicks, Conversions, • Website Traffic/ Views Rate, Click Revenue and • List Growth / Contest Through Rate derivatives entryTwitter Followers, Avg Impressions, Clicks, • Lead Gen / Sales Retweets, Avg # Retweets, Replies, Inquiries Favorites, Avg Favorites, Traffic • Support inquiries Clicks Source Analysis fielded/ CSAT • Loyalty: Renewal rates,YouTube Views, Comments, Views, ACV increase, recency, Subscribers, Avg New Subscribers frequency, purchase size Comments, Avg Brand preference: NPS, Share market share, equity,LinkedIn Followers, Likes, Likes, Comments, awareness Impressions Shares, Engagements
Sample Campaign Metrics (cont)Social Channel Campaign BusinessNetwork (Per property or across (Time or Content bounded) properties)Pinterest Followers Pins, Repins, # • Direct or Attributed Pins Repinners, # Boards, Sales most clicked,Traffic • Website Traffic/ Views source analysis, • List Growth / Contest Content distribution entryGoogle+ # Circles Shares, Comments • Lead Gen / Sales # Pluses, Hangout Inquiries Participants • Support inquiries fielded/ CSATInstagram Followers Favorites, Comments, • Loyalty: Renewal rates, Likes, Follower ACV increase, recency, Growth frequency, purchaseTumblr Followers Comments, Likes, size Brand preference: Reblogs, Shares NPS, market share, equity, awareness
Marketing Performance: CrossChannel Campaigns eBags “Bag an iPad” promotion Cost: ~$25K in FB ads + software costs Increased Facebook “likes” by 46K Increased email subscribers by 28K Tens of thousands in direct sales from site visitors referred via the thank you page
Fluencr Courtesy Fluencr: Look for more companies that use brand ambassadors/ user accounts to pull “viral” metrics from
Union Metricsfor Tumblr• Only product built from Tumblr’s full firehose of data (100MM events per day)• Partnering with Tumblr as Tumblr’s preferred 3rd party analytics• Topic tracking that enables listening and monitoring as well as individual blog measurement• Measure engagement trends Courtesy Offerpop: over time Virality is an interesting• Identify influencers, curators twist- trying to make your and amplifiers content as compelling and• Visualize virality with reblog network trees relevant as possible
TweetReach• Three tools for Twitter campaign and conversation analytics: • Real-time Twitter analytics built on Gnip’s full-fidelity Twitter stream • Historical analysis with access to complete Twitter archive back to 2006 • Quick snapshots for simple reporting• Track reach, exposure and volume trends over time• Identify influencers and advocates• Discover top content, including hashtags and URLs
Bit.lyBit.ly (or Awe.sm and other URL shorteners) arecritical to tracking content performance regardlesss of distribution channel
Rt.ly RealTimeLy: Good way ofengaging with the zeitgeist when itemsare shared on bit.ly
Rt.ly RealTimeLy: Good way of seeing the zeitgeist and looking for ways tocapitalize on it
Google+: Personal Brands Google+: For personal brand building- and SEO! Let us repeat: SEO SEO SEO SEO SEO!
Google Analytics Google Analytics: Tried and true for bound traffic analysis and goal tracking on your website
ADVICE• Start with the business model, then find the campaign that comes from it• Everything is an experiment• Pick the second biggest problem in the company• Before revenue, you’re building a product to figure out what to build.
We are not alone "In which of the following departments are there dedicated people (can be less than one FTE) executing social?" Marketing 73.4%Corporate Communications/PR 65.6% Customer Support 39.8% Digital 36.7% Social Media 35.2% HR 28.9% Product development/R&D 16.4% Advertising 16.4% At least 13 different Customer/User experience 14.8% IT 14.1% departments are actively Executive 10.9% involved in social media Legal 9.4% Market Research 7.8% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 163
If your social program is a silo, you‘re doing it wrong 164
Bye marketing funnel, hi customer journey ConsiderationAwareness Transaction How can we map and prioritize social data from the customer’s POV to create sustainable relationships? Advocacy Experience Loyalty
The opportunity for the longer term Design customer intelligence from the customer in, not the enterprise out Bring in stakeholders (including executive sponsors) from across the enterprise • How you find them: they are the people who are asking what the data means and what we should do about it Take a holistic approach to your data, with tailored execution by business unit or department Don‘t just focus on the sale; the customer certainly doesn’t Start incrementally. Test, learn, repeat to build confidence. Everyone is in the same boat
Social Engagement = ImprovedAwarenessCole-Haan Case Study Finding: Awareness/ Interest is correlated to purchase intent
Loyalty: LTV of Social CustomersCole-Haan Case Study Finding: We are seeing clear impact of social engagement on key marketing metrics at the individual level • Customer engagement (clicks, opens) • LTV • RFM • NPS
Marketing Performance: Cross ChannelEngagement Improves Performance inOther ChannelsCole-Haan Case Study Finding: This data is only for Twitter, and it demonstrates how meaningful single social channel participation can be WRT email performance.