Social Media Measurement

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A detailed overview and case studies of how major brands are monitoring social media and using the information to measure ROI.

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  • Problem solving – how is everyone else solving the problem? Douglas Nicol from The Works http://mumbrella.com.au/social-media-crack-cocaine-for-marketers-41735 It was a slightly awkward moment. We are assembled at SXSW, the worlds leading interactive conference and birthplace of Twitter and Foursquare. We’re listening to top social media marketers from some of the biggest brands in the country: PepsiCo, General Mills and Samsung. It’s standing room only.    The session is called ‘Marketing budgets have gone social – is it working?’ The marketers spent most of the session talking about what they do rather than the ‘is it working?’ topic. Someone goes and spoils the fun by asking how they all measure the sales impact of their activities. There is rather a lots of paper shuffling, and then an admission that they don’t know. That’s right – by and large they don’t know if social media is driving sales for their brand. They think it is.
  • We’re back to that old marketing problem.
  • But social media isn’t a billboard or a TVC, there are some things we can track.
  • Google URL Builder
  • Sandy said ‘they don’t think there’s LOVE for NIVEA’ I look at the Facebook wall and it’s a different story altogether
  • I’ve been involved in setting up the monitoring for many brands, happy to answer what’s working
  • Social Media Measurement

    1. 1. Social Media Measurement You’ve got your brand into social media, now what?
    2. 2. <ul><li>Communications degree </li></ul><ul><li>Worked in public relations and journalism </li></ul><ul><li>Created e-CBD in 2001 </li></ul><ul><li>Became interested in social media four years ago </li></ul><ul><li>Started specialist social media and PR agency in Brisbane called memery </li></ul><ul><li>Realised we needed an Australian monitoring tool </li></ul><ul><li>Created the Dialogix social media monitoring tool </li></ul><ul><li>Now used by many of the biggest corporations in Australia </li></ul><ul><li>Marketing Magazine’s ‘Digital Guru’, write regular features for them, latest on Twitter </li></ul><ul><li>Tutor in social media for ADMA and at various conferences </li></ul>About Me
    3. 3. Social Media Measurement
    4. 5. So, Just to Confirm…
    5. 6. They don’t know if social media = sales
    6. 7. They don’t know if social media = sales
    7. 8. They don’t know if social media = sales
    8. 9. Half of my marketing budget doesn’t do anything. I just don’t know which half.
    9. 11. What Can We Measure?
    10. 12. <ul><li>Sales </li></ul><ul><li>Volume </li></ul><ul><li>Sentiment </li></ul><ul><li>What your competitors are doing </li></ul><ul><li>Who the influential people are </li></ul>What Can We Measure?
    11. 13. Tracking Sales
    12. 14. Measuring Sales from Social Media <ul><li>The Obvious Stuff </li></ul><ul><li>Can you put a different 1300 phone number on your Facebook page? </li></ul><ul><li>Offers only to Facebook and Twitter fans (Airlines do this well) </li></ul><ul><li>Goes without saying that you can track the sales funnel to an online store or sign up form using correct analytics – make sure they’re in place, there’s no excuse </li></ul><ul><li>Problems tracking Facebook traffic </li></ul>
    13. 16. Tracking Volume
    14. 17. <ul><li>Free ways to track volume </li></ul><ul><li>Twitter search </li></ul><ul><li>Social Mention </li></ul><ul><li>Tweetdeck </li></ul><ul><li>Hootsuite </li></ul><ul><li>Google Analytics </li></ul>Tracking Volume
    15. 18. <ul><li>Paid ways to track volume </li></ul><ul><li>Radian6 </li></ul><ul><li>Buzz Numbers </li></ul><ul><li>Buzz Metrics </li></ul><ul><li>PeopleBrowsr </li></ul><ul><li>Meltwater Buzz </li></ul><ul><li>Brandtology </li></ul>Tracking Volume
    16. 19. <ul><li>Presuming they get all the data, these are all good options if your brand has a unique name and you’re only in Australia, for example: </li></ul><ul><ul><li>Eagle Boys Pizza </li></ul></ul><ul><ul><li>Suncorp </li></ul></ul><ul><ul><li>NRMA </li></ul></ul><ul><li>The second you want to monitor buzz for a brand outside those parameters, you’re screwed: </li></ul><ul><ul><li>AMP </li></ul></ul><ul><ul><li>NAB </li></ul></ul><ul><ul><li>Dominos </li></ul></ul><ul><ul><li>Nivea </li></ul></ul>Tracking Volume
    17. 20. <ul><li>We make sure we get all the data </li></ul><ul><li>Australian language dictionary </li></ul><ul><li>Human moderation </li></ul>What Do We Do?
    18. 21. What Does that Look Like?
    19. 22. Measuring Sentiment
    20. 23. <ul><li>A few sentiment analysis tools out there </li></ul><ul><li>But they’re only 50-60% accurate </li></ul>Measuring Sentiment
    21. 24. <ul><li>“ Good work Jetstar, you lost my luggage again. Well done.” </li></ul><ul><li>“ Their customer service was sick.” </li></ul>Measuring Sentiment
    22. 25. Measuring Sentiment
    23. 26. Measuring What Your Competitors are Doing
    24. 27. Measuring Competitors
    25. 28. Finding Key Influencers
    26. 29. Finding Key Influencers
    27. 30. Finding Key Influencers
    28. 31. Finding Key Influencers
    29. 32. Tracking Social Media ROI
    30. 34. <ul><li>We established that ROI was not a media metric but a business metric. </li></ul><ul><li>Once that was clear we established a social media baseline. We evaluated our metrics before we launched our social media initiatives to benchmark it against ourselves later. </li></ul><ul><li>We established a yield ($ per transaction) - we don’t sell product online, so we consider opt-in as a transactions. </li></ul><ul><li>We measure transactional precursors (sentiment analysis, Facebook active users, social conversations) aligning it with Life Time Value (LTV). One of our success metrics is to increase our LTV by % which really helps to determine the impact of our Social Media plans very quickly. </li></ul><ul><li>We have also put in place together with Facebook a brand tracking measure along this year to measure the impact on the brand perception of our social initiatives as our key objective for this year is to modernize NIVEA. </li></ul>Tracking Social Media ROI
    31. 35. <ul><li>“ There has been discussion with some people about ‘what’s your ROI’ and ‘How does this help?’ and I think that’s certainly relevant to marketing efforts, and maybe communications efforts and PR efforts, and we certainly do have those conversations – but when it comes to our customer service and corporate reputation I think the conversation has to be about online sentiment.” – Kristen Boschma </li></ul>Tracking Social Media ROI
    32. 36. <ul><li>Measuring number of likes, number of conversations, number of negative mentions, number of referring browsers to our website, and the awareness levels of our members </li></ul><ul><li>More about listening and setting goals </li></ul><ul><li>Has been important for us to listen before we jump into actively participating in Social Media. </li></ul><ul><li>In some cases we’ve been able to address issues people are talking about without the need to respond. </li></ul>Tracking Social Media ROI
    33. 37. <ul><li>Our key measure of success in social media is engagement and meeting the objectives of our strategy. </li></ul><ul><li>But it’s not just about ROI </li></ul><ul><li>Social media monitoring is critical for RACQ to ensure we ‘re informed 24/7 of any potential issues or brand risks, what we are doing well and also what we can improve. It also alerts us to when we should be engaged in the conversation. </li></ul>Tracking Social Media ROI
    34. 38. <ul><li>1300 733 088 </li></ul><ul><li>www.dialogix.com.au </li></ul><ul><li>[email_address] </li></ul><ul><li>@mattgranfield </li></ul>Questions

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