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Freshly squeezed beyondave

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Freshly squeezed beyondave

  1. 1. How to measure: Beyond the AVE @michaelblowers
  2. 2. Advertising Value Equivalent 2
  3. 3. Last Nail in the Coffin AVE <ul><li>Poor online data </li></ul><ul><li>No continuity </li></ul><ul><li>Too prescriptive </li></ul><ul><li>No link to outcomes </li></ul><ul><li>Outputs not outcomes </li></ul><ul><li>No connection with objectives… </li></ul>3
  4. 4. Where to start with Objectives <ul><li>Increase revenue </li></ul><ul><li>Lower costs, </li></ul><ul><li>Improve customer satisfaction </li></ul>Source: Jim Sterne, 2010 4
  5. 5. Off to Barcelona… 5
  6. 6. Seven Principles: 1. Importance of Goal Setting and Measurement 2. Measuring the Effect on Outcomes is Preferred to Measuring Outputs 3. The Effect on Business Results Can and Should Be Measured Where Possible 4. Media Measurement Requires Quantity and Quality 5. AVEs are not the Value of Public Relations 6. Social Media Can and Should be Measured 7. Transparency and Replicability are Paramount to Sound Measurement Source: AMEC 6
  7. 7. Outcomes, not Outputs Source: CIPR/AMEC 7
  8. 8. No Magic Bullet Credit: Pixmac 8
  9. 9. The World is Unique & so is Measurement “ Your organisation is unique, your market is unique, your vision is unique, your strategy is unique, your execution is unique and your measurement & evaluation is unique” Philip Sheldrake/CIPR 2011 9
  10. 10. There are lots of Metrics 10
  11. 11. Choosing the Metrics <ul><li>There are a lot of ways to measure social media (100+metrics) </li></ul><ul><li>Formulate objectives… </li></ul><ul><li>Make them measurable </li></ul><ul><li>Select the metrics to use </li></ul><ul><li>Establish support for their use </li></ul>11
  12. 12. Connecting Effort with Outcomes <ul><li>Find ways to account for the PR effort </li></ul><ul><li>How can these connect with Organisational successes </li></ul>12
  13. 13. An Example 13
  14. 14. = ? 14
  15. 15. Problem areas <ul><li>Reach – big inconsistencies </li></ul><ul><li>Engagement – what does it mean? </li></ul><ul><li>Automated sentiment analysis </li></ul><ul><li>Message identification </li></ul><ul><li>Influencers </li></ul><ul><li>Finding the right tools </li></ul>15
  16. 16. Automated Sentiment Analysis Source: Jim Sterne 2010 <ul><li>“ I hate this!” She said quietly. The agony of waiting for a dental appointment </li></ul><ul><li>“ I hate this!” She said laughing. She actually like being tickled </li></ul><ul><li>“ I hate this!” She said petulantly. Her older sister gets to go out and she has to stay home </li></ul><ul><li>“ I hate this!” She said vehemently. The incessant arguing is pushing her over the brink </li></ul>16
  17. 17. Influence Challenge 17
  18. 18. Tool Challenges Source: Susan Etlinger, Altimeter Group 2011 18
  19. 19. Organisational Challenges 19
  20. 20. Big Challenges…. Source: Susan Etlinger, Altimeter Group 2011 20
  21. 21. Why there Needs to be a Goal <ul><li>Use appropriate measures at each level </li></ul>Source: Susan Etlinger, Altimeter Group 2011 21
  22. 22. ROI or IOR (Impact on Reputation) “ Return on Investment” “ Impact on Reputation” 22
  23. 23. ROI of human relationships? 23
  24. 24. Cases for measuring social media <ul><li>Brand health </li></ul><ul><li>Market optimisation </li></ul><ul><li>Revenue generation </li></ul><ul><li>Operational productivity </li></ul><ul><li>Customer experience </li></ul><ul><li>Product innovation </li></ul>24
  25. 25. Brand Health Insights KPIs What topic sparked conversation What topic sparks emotion Sentiment of social channel Volume of references Sentiment Share of voice/ competitors Fans / Followers Top topics Brand references per campaign Getting branded ‘credits’ 25
  26. 26. Marketing Optimisation Insights KPIs Where conversation occur Do social channels cannibalise others content Which social channels/platforms generate greatest visit loyalty Conversions/ sales by channel Impressions per channel View/ click through per channel Visitor loyalty Most followed content People who talk about your brand Likeliness to buy based on specific behaviours Best times to post content Finding advocates 26
  27. 27. Revenue Generation Insights KPIs Likeliness to buy Impact of social media on search results Effectiveness of social channels for conversion/ revenue Conversion by channel Compare conversation / sales by channel Visit loyalty Improved search engine placement Do social channels cannibalise others content 27
  28. 28. Operational Productivity Insights KPIs Active advocates Service issues best answered online Potential cost saving from deflected calls Calls deflected & their savings # of advocates & their value Reduction in call centre costs Gaps in the ‘Knowledge Base’ 28
  29. 29. Customer experience Insights KPIs Acceleration of issues Common service/ product issues # of customer service issues sorted online % escalated/ resolved % of positive ratings & reviews Sentiment & emotional drivers Sentiment trends 29
  30. 30. Innovation Insights KPIs Customer requests Most common service/ product issues Speed to market Product development efficiency Competitive opportunities & threats 30
  31. 31. <ul><li>UberVu </li></ul><ul><li>Viral Heat </li></ul><ul><li>Attentio </li></ul><ul><li>Nutshell Mail </li></ul><ul><li>Tweetdeck </li></ul><ul><li>MarketMeSuite </li></ul><ul><li>Trackur </li></ul>Listening Vendors: Free / Low Cost 31
  32. 32. Listening Vendors: Mid-level <ul><li>Brandwatch </li></ul><ul><li>Lithium </li></ul><ul><li>Radian6 </li></ul><ul><li>Marketwire (Sysomos) </li></ul><ul><li>Social Radar </li></ul><ul><li>Visible Technologies </li></ul>32
  33. 33. <ul><li>Market Sentinel </li></ul><ul><li>Nielsen Online </li></ul><ul><li>Synthesio </li></ul><ul><li>Integrasco </li></ul><ul><li>Converseon </li></ul><ul><li>UKNetMonitor </li></ul>Source: Luke Brynley-Jones 2010 Listening Vendors: Full Service 33
  34. 34. Future of Social Analytics <ul><li>Basic ability to understand social data will be critical </li></ul><ul><li>Expectations of service standards/ data quality </li></ul><ul><li>Improved machine learning, but not fast enough </li></ul><ul><li>Expressions like ‘social media’, ‘social business’ and ‘social analytics’ will die-out </li></ul><ul><li>Advent of social benchmarks (1-2 years) </li></ul><ul><li>Social parametrics – granular analysis of target groups becomes possible </li></ul>34
  35. 35. <ul><li>Traditional media: 7% </li></ul><ul><li>Social media : 10% </li></ul>Source: Robin Wilson, Director Digital PR and Social Media, McCann Erickson 2011 A word on Budgets 35
  36. 36. Ideas <ul><li>Don’t measure everything – find a core set of metrics </li></ul><ul><li>Understand objectives </li></ul><ul><li>Know your data and shortcomings </li></ul><ul><li>Think directionally – consider trends </li></ul><ul><li>Don’t under-value soft research (qualitative) </li></ul>36
  37. 37. Sources <ul><li>Brian Solis </li></ul><ul><li>For Immediate Release podcast </li></ul><ul><li>Jim Sterne </li></ul><ul><li>Philip Sheldrake </li></ul><ul><li>CIPR Evaluation Toolkit and Guidance on the measurement of social media </li></ul>37
  38. 38. Michael Blowers @michaelblowers Blog: www.mediaevaluation.blogspot.com Corporate site: put ‘media evaluation’ into Google Email: michael@meresearch.co.uk
  39. 39. The need to listen and react <ul><li>When it all goes wrong…. </li></ul>
  40. 40. Listening vendors Source: IBM Coremetrics

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