Planning Value Measurements into your Social Media Strategy

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A webinar given as part of the Brighttalk Social Media Marketing Summit in September 2009.

http://www.brighttalk.com/webcasts/6326/play

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Planning Value Measurements into your Social Media Strategy

  1. 1. “ Show me the money!” planning value measurements into your social media strategy jenni lloyd / strategy director / nixonmcinnes
  2. 2. i’m strategy director at social media agency nixonmcinnes hello! I’m Jenni Lloyd
  3. 3. we help connect brands with people through the social web <ul><li>The UK’s largest dedicated team of social media specialists; founded in 2000 </li></ul><ul><li>Full service social media agency: strategy, network mapping, outreach, design, build & community management </li></ul><ul><li>Thought leaders: instigators of ‘MeasurementCamp’ </li></ul>
  4. 4. Social proof :)
  5. 5. can confidently explain the value of social media? uses social media? knows what social media is? Hands up (virtually) who…
  6. 6. So what is social media?
  7. 7. It’s not about tools…
  8. 8. It’s something bigger…
  9. 9. we’re seeing a fundamental shift
  10. 10. from a time when we saw our websites as a destination ‘ build it and they will come’
  11. 11. to a recognition that our customers are playing elsewhere
  12. 12. if we want to talk to them we need to be where the conversation is
  13. 13. we need to be useful and we need to be wherever they want us to be
  14. 14. … we now have a platform that creates both expressive power and audience size. Every new user is a potential creator and consumer, and an audience whose members can co-operate directly with one another, many to many, is a former audience. Clay Shirky / writer. teacher. consultant / shirky.com The broadcast model of communication is dead
  15. 15. Social media is like teen sex. Everyone wants to do it. Nobody knows how. When it’s finally done there is a surprise that it’s not better Avinash Kaushik / Analytics Evangelist / Google Measuring this stuff is hard
  16. 16. Why should we care?
  17. 17. Time’s they are a’ changin’ Bob Dylan / iconic singer-songwriter
  18. 18. The traditional marketing model is being challenged and CMOs can forsee a day when it will no longer work McKinsey Quarterly / 2005 / number 2
  19. 19. To find something comparable, you have to go back 500 years to the printing press, the birth of mass media – which, incidentally, is what really destroyed the old world of kings and aristocracies. Technology is shifting power away from the editors, the publishers, the establishment, the media elite. Now it’s the people who are taking control.” Rupert Murdoch* / Media Magnate / Wired Magazine / July 2006 * Rupert Murdoch said this… in 2006!
  20. 20. welcome to the world of empowered consumers
  21. 21. Madmen no more… <ul><li>Monitoring & Measuring Social Media - Agent Wildfire 2009 </li></ul>Trying to shout loudest and longest isn’t going to work any more
  22. 22. ...of consumers don’t believe that companies tell the truth in advertisements - Yankelowich 76% FUTURE LAB
  23. 23. <ul><li>83% trust the word of a friend, 60% trust consumer reviews written by strangers </li></ul>
  24. 24. Businesses that don’t implement web 2.0 tools will stay behind Darko Herlick / Gartner <ul><li>Web 2.0 is... </li></ul><ul><li>characterized as facilitating communication, information sharing, interoperability, user-centered design and collaboration on the World Wide Web. It has led to the development and evolution of web-based communities, hosted services, and web applications </li></ul><ul><li>Wikipedia.org </li></ul>
  25. 25. Coca-Cola have got the right idea… Adam Brown, digital communications director at Coca-Cola
  26. 26. I’ve made the case… now how do I prove the value?
  27. 27. What do you want measure - the ‘social’ or the ‘media’? David Alston / Radian 6 Are traditional measures appropriate?
  28. 28. Social Media Business Value Increase In Revenue Decrease In Costs <ul><li>Objectives: </li></ul><ul><ul><li>Reach </li></ul></ul><ul><ul><li>Awareness </li></ul></ul><ul><ul><li>Coverage </li></ul></ul><ul><ul><li>Continuity </li></ul></ul><ul><li>Measures: </li></ul><ul><ul><li># of visitors </li></ul></ul><ul><ul><li># of page views </li></ul></ul><ul><ul><li>Time on site </li></ul></ul><ul><ul><li>Conversions </li></ul></ul><ul><ul><ul><li>Leads/Subscriptions/ Sponsorships </li></ul></ul></ul><ul><li>Objectives: </li></ul><ul><ul><li>Loyalty </li></ul></ul><ul><ul><li>Advocacy </li></ul></ul><ul><ul><li>Trust </li></ul></ul><ul><ul><li>Influence </li></ul></ul><ul><ul><li>Engagement </li></ul></ul><ul><li>Measures: </li></ul><ul><li>Sentiment </li></ul><ul><li>Comments </li></ul><ul><li>Feedback </li></ul><ul><li>Mentions </li></ul><ul><li>Readership </li></ul>The ROI of social media / Lumension / 2009
  29. 29. Define relevant success metrics that translate into a business context <ul><li>Forrester Groundswell model </li></ul><ul><ul><li>Listening </li></ul></ul><ul><ul><li>Understand your customers better & generate insight </li></ul></ul><ul><ul><li>Talking </li></ul></ul><ul><ul><li>Participate in conversations with customers & help them talk to each other </li></ul></ul><ul><ul><li>Energising </li></ul></ul><ul><ul><li>Identify your fans & help them help you market your services </li></ul></ul><ul><ul><li>Supporting </li></ul></ul><ul><ul><li>Help your customers support each other </li></ul></ul><ul><ul><li>Embracing </li></ul></ul><ul><ul><li>Integrate your customers insight into your development process </li></ul></ul>
  30. 30. This isn’t just a job for Marketing Each team brings a new set of metrics to the party
  31. 31. Social Media spans the whole business <ul><li>Listening = research </li></ul><ul><li>Cost of focus groups or market research </li></ul><ul><li>Talking = marketing </li></ul><ul><li>Cost of advertising in a similar content channel / cost of SEO/PPC </li></ul><ul><li>Energising = sales </li></ul><ul><li>Value of leads generated / %age spread virally </li></ul><ul><li>Supporting = customer support </li></ul><ul><li>Reduction in call centre costs / value of repeat custom </li></ul><ul><li>Embracing = service development </li></ul><ul><li>Value of new ideas generated </li></ul>
  32. 32. <ul><li>One of our clients runs a loyalty programme </li></ul><ul><li>One of our first actions was to design and build a blog as a feedback channel to the main site. </li></ul><ul><li>Acting as a rapid publishing platform the blog both enables consumers to comment and converse about the programme and provides the client with valuable feedback with which they can improve their offer to consumers. </li></ul><ul><li>We also redistribute content published to the blog to other social spaces, such as Facebook and Twitter, through RSS feeds. </li></ul><ul><li>We worked with internal stakeholders in the marketing, PR and legal team to establish a moderation and escalation process and now moderate the very active blog on a daily basis. </li></ul><ul><li>We also run a successful Twitter presence, with the number of followers having doubled week on week since launch. </li></ul>What Does All This Mean in Practice?
  33. 33. The blog: the touchy feely stuff Build loyalty & trust give members a platform for conversation measure number & frequency of comments & % of positive comments Increase satisfaction engage with members and find out what they would like from the programme measure good suggestions made and how many are implemented QUAL!
  34. 34. The blog: the cold, hard stuff Generate registrations generate interest/awareness amongst prospects measure registrations referred from the blog Encourage participation in the programme generate interest/awareness amongst members measure RSS subscriptions, click throughs from RSS, repeat visits referred from the blog and overall 3 month active figure QUANT!
  35. 35. The blog
  36. 36. The blog: traffic and on-site registrations
  37. 37. Twitter: quant & qual Use Twitter to inform prospects & members about upcoming rewards, limited stock and exclusive competitions generate interest/awareness amongst prospects & members measure traffic referred from Twitter using bit.ly Build loyalty and trust be nice to people who mention us on Twitter measure amount of positive conversations about us on Twitter each week
  38. 38. Awareness passive follower active follower inquisitive follower Winners Strangers Evangelists strangers – no awareness of the brand on twitter Identified through searching twitter for relevant conversation topics and targeted with relevant messaging to encourage following. awareness – know of the brand but not a follower Identified through searching twitter for brand terms and signposted to our profile to encourage following. passive follower – following but not engaged Encouraged to engage with us through asking questions, serving them offers and signposting to content. active follower – following and engaged on a low level Talking to others about us, but not to us – we will contribute to their conversations to drive engagement with us and the site. inquisitive followers – following and engaged directly with us Talking directly to us – we will engage with them, providing useful information and help to create loyalty. evangelists – engaged followers that are our advocates Followers who regularly retweet our messages and offers, signpost people in their network to us and generally help us further grow our followers. Our Twitter engagement scale & messaging plan
  39. 39. Twitter Metrics Evangelists Opted-in
  40. 40. Buzz Monitoring 94 mentions this week with a sentiment score of 0.9. This is a 59% increase in mentions since last week. Twitter is site with most mentions this week (63) – this includes a lot of buzz generated by official account and its followers Buzz: week on week
  41. 41. Some tips to get you started
  42. 42. who are they? where are they online? what are they doing? what tools are they likely to use? know your audience
  43. 43. find out who’s saying what about you set up Google alerts use addictomatic / twitter search listen invest in tools
  44. 44. what is it you’re trying to achieve… know your objectives to listen and understand? to engage in conversations? to generate buzz? to encourage participation?
  45. 45. offer value be authentic, transparent and helpful link to those that disagree disclose your position/interests match your message to the environment -these are social spaces… follow the rules of engagement
  46. 46. a facebook fan page? a blog? ratings and reviews on your site? twitter? choose the right tools an island in second life? use what’s right for your audience and objectives, not the big new thing
  47. 47. finally... we can all learn from this man raised $250m - lots & lot of small donations widgets blog facebook you tube twitter podcasts
  48. 48. A message from our sponsors…
  49. 49. Attend the IDM Social Media Booster course and receive a £50 discount on the usual price of £495 Next date: 08 October 2009 Venue: Cavendish Square, London Places are filling up fast! Book your place now via [email_address] .com www.theidm.com/smb special discount for attendees of this webinar
  50. 50. Any questions? [email_address] .co. uk nixonmcinnes.co.uk nixonmcinnes.co.uk/ebooks twitter.com/nixonmcinnes Thank you!

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