Measuring Success with Social Media

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Some Bullet points from the Corporate Social Media Summit in NYC.

Michelina Mantas
Digital & Social Media, Sears
@mickeymantas

David Carter
CTO Awareness Inc.
@dkrcarter

Published in: Business, Technology
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Measuring Success with Social Media

  1. 1. Measuring Success<br />Marshall Sponder (moderator)<br />Web MetricGuru.com<br />@webmetricsguru<br />Michelina Mantas<br />Digital & Social Media, Sears<br />@mickeymantas<br />David Carter<br />CTO Awareness Inc. <br />@dkrcarter<br />© 2009 Awareness<br />
  2. 2. Establish KPI’s that matter to business, based on business goals<br />Consider new methods to traditional marketing<br />Social media is bleeding into Social Commerce<br />© 2009 Awareness CONFIDENTIAL<br />
  3. 3. KPIs to Consider<br />Look beyond audience size<br />Who are your Brand Ambassadors ?<br />How are you gaining & distributing content?<br />Effectiveness of Social Media campaigns<br />Ability to tie to CRM i.e. real customers?<br />© 2009 Awareness CONFIDENTIAL<br />
  4. 4. Measuring Success<br />Determining what success looks like.. Before you start<br />Understanding the values of various aspects of your business<br />Getting your metrics straight and consolidation<br />Iterate on Success<br />© 2009 Awareness CONFIDENTIAL<br />
  5. 5. What does success look like<br />Could be any aspects of the customer lifecycle<br />Awareness <br />Consideration<br />Trial<br />Adoption<br />Loyalty<br />Referral<br />Reduction in costs<br />Support<br />Product Feedback loop<br />Support another effort (gather names, drive traffic)<br />© 2009 Awareness CONFIDENTIAL<br />
  6. 6. What is the value of…<br />Customer Acquisition<br />If you are Mercedes?<br />If you are Tide?<br />If you are McDonald’s<br />Customer Retention<br />If you are AT&T?<br />If you are McDonald’s<br />Cost per impression of other media<br />Use these numbers as multipliers when you are calculating YOUR values for Value of a Like/Fan/Re-Tweet/Comment<br />© 2009 Awareness CONFIDENTIAL<br />
  7. 7. Getting your numbers straight<br />There are a lot of channels, use more than FaceBook and Twitter<br />Don’t “spray and pray”<br />Publishing one piece of content across multiple channels should result in<br />Aggregate totals across all channels to measure the value of the content/message<br />Slice the content by channel<br />Listen intently to the content you publish<br />Slice by Participant? <br />When sentiment changes<br />Haters changing their tone?<br />© 2009 Awareness CONFIDENTIAL<br />

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