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Social Media Analytics: The Peanut Butter to Business Metrics’ Chocolate

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Rhea Drysdale's SearchFest 2013 presentation on Social Media Analytics and how to marry business metrics and objectives with social media metrics.

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Social Media Analytics: The Peanut Butter to Business Metrics’ Chocolate

  1. 1. Social Media Analytics:The Peanut Butter to Business Metrics’ Chocolate SearchFest 2013 @Rhea | @outspokenmedia
  2. 2. Forgive the beer belly baby! @Rhea | #searchfest
  3. 3. Get the links from the deck: http://bitly.com/bundles/rhea/1 @Rhea | #searchfest
  4. 4. A world where peanut butter and chocolate were segregated. @Rhea | #searchfest
  5. 5. http://www.youtube.com/watch?v=DJLDF6qZUX0 @Rhea | #searchfest
  6. 6. What’s as perfectly paired aspeanut butter and chocolate? BUSINESS METRICS = +SOCIAL MEDIA METRICS @Rhea | #searchfest
  7. 7. Social marketers often only report on: Likes ReferralsConversion Visits s Leads Mentions Retweets Shares @Rhea | #searchfest
  8. 8. But, if this is the extent of yoursocial media reporting… @Rhea | #searchfest
  9. 9. You don’t get paid to track tasteless metrics! @Rhea | #searchfest
  10. 10. You do get paid to: Think critically Make informed recommendations Drive business objectives @Rhea | #searchfest
  11. 11. Unfortunately, social media metrics rarelysupport business objectives because: CEO CMO CFO COO CTO VP VP Public Marketing Relations Business Marketing Developmen Director t Online Brand Marketing Manager Manager Social media often falls somewhere under here. Little internal support or prioritization. @Rhea | #searchfest
  12. 12. Awareness, Inc. State of Social Media Marketing Jan 2012 Social marketers face significant challenges:Social Media Examiner, 5 Social Media Marketing Trends: New Researchhttp://bit.ly/YnBVyG
  13. 13. 77%Lack of sufficient resources @Rhea | #searchfest
  14. 14. 58%Measuring ROI @Rhea | #searchfest
  15. 15. 42%Managing and growing social presence @Rhea | #searchfest
  16. 16. 37%Integrating social media w/lead gen & sales @Rhea | #searchfest
  17. 17. 34%Integrating social media w/rest of marketing @Rhea | #searchfest
  18. 18. 33%Monitoring social media @Rhea | #searchfest
  19. 19. 31%Management of publishing across platforms @Rhea | #searchfest
  20. 20. 22%Social media training @Rhea | #searchfest
  21. 21. There is potential for greatness. @Rhea | #searchfest
  22. 22. Lack of sufficient resources Cross-functional teams Define Team Charter • Mission Resources: http://bit.ly/XpQrd7 • Business Objectives http://bit.ly/13t73Qx • Composition and Roles • Authority and Empowerment • Resources and Support Available • Operations • Negotiation and Agreement @Rhea | #searchfest
  23. 23. Measuring ROIMulti-channel ROI reporting @mikecp @Rhea | #searchfest
  24. 24. Managing and growing social presence Community development @Rhea | #searchfest
  25. 25. Get your ripples on… @Rhea | #searchfest
  26. 26. Get your ripples on… @Rhea | #searchfest
  27. 27. Get your ripples on… @Rhea | #searchfest
  28. 28. Integrating social media w/lead gen & sales Understanding the sales funnelhttp://bit.ly/Zx721o @Rhea | #searchfest
  29. 29. Integrating social media w/rest of marketing Integrated marketing campaigns @Rhea | #searchfest
  30. 30. Monitoring social media Monitoring for critical topicsGIGANTOR LIST OF SOCIAL MEDIA MONITORING TOOLS! http://bit.ly/XpT0fd @Rhea | #searchfest
  31. 31. Management of publishing across platforms Process for reactive dialogue Meet Andy White of M80 http://bit.ly/YrilkZ @Rhea | #searchfest
  32. 32. Social media training Brand guidelines, policies, company-wide response strategieshttp://bit.ly/Xu6YcV @Rhea | #searchfest
  33. 33. And yet, most of us would rather aim for deliverables and random KPIs like: @Rhea | #searchfest
  34. 34. Top Areas of Corporate Social Marketing Investment for 2012 Increased presence across social media platforms Increased frequency of content publishing More robust social marketing management More robust social media monitoring More social media presence OtherSocial Media Examiner, 5 Social Media Marketing Trends: New Researchhttp://bit.ly/YnBVyG
  35. 35. While fighting to defend the very existence of social media:Social Media Examiner, 5 Social Media Marketing Trends: New Researchhttp://bit.ly/YnBVyG
  36. 36. Why is it so difficult to demonstrate thevalue of social media? @Rhea | #searchfest
  37. 37. Social metrics make everything more delicious actionable… PR Marketing Customer Service Usability Sales IT Product Development @Rhea | #searchfest
  38. 38. Social metrics hold everyone more accountable…PR Marketing Customer Service Usability Sales IT Product Development @Rhea | #searchfest
  39. 39. Being held accountable is uncomfortable.Dysfunctional businesses hide fromaccountability while functionalbusinesses embrace it. @Rhea | #searchfest
  40. 40. • Does your business care about the opinions of your customer base?• Do you conduct market research to strengthen traditional ad campaigns?• Do you know what influences customers at different stages of the sales cycle?• Do you work with customer service to segment, track and reduce issues by type? @Rhea | #searchfest
  41. 41. When social media metrics reflect businessmetrics, the entire business wins. @Rhea | #searchfest
  42. 42. Business Metrics Defined“A unit of measurement that provides away to objectively quantify a process.” McGraw-Hill: Setting Business Metrics http://bit.ly/Y9uuPv @Rhea | #searchfest
  43. 43. Metrics vs. Business Metrics http://slidesha.re/VMP9L4 @Rhea | #searchfest
  44. 44. Common Business Metrics• Cost per acquisition• Lifetime value• Churn rate• Revenue percents For further reading: Inc, 4 Business Metrics You Can’t Afford to Ignore: http://bit.ly/11W073w Forbes, 10 Metrics Every Growing Business Must Keep An Eye On http://onforb.es/Xq4jB1 @Rhea | #searchfest
  45. 45. 2012: Google Analytics releases social reports @Rhea | #searchfest
  46. 46. Client case studies: Pinterest Yahoo! Answers reddit StumbleUpon Facebook @Rhea | #searchfest
  47. 47. Seasonal Product Page Valentine’s Day @Rhea | #searchfest
  48. 48. Social Media Metrics• 2,111 visits • 81 likes on original poster’s pin• 1.5% of social referrals • 309 repins• 5th most socially shared URL SOCIAL MEDIA SUCCESS! @Rhea | #searchfest
  49. 49. Business Metrics0 conversionsBusiness objective:• Grow customer base and revenueOutcome: FAIL! @Rhea | #searchfest
  50. 50. Business Metrics ClarifiedDon’t expect social media to drive ROIentirely.Was this a failure on the part of socialmedia? Their metrics look great! @Rhea | #searchfest
  51. 51. We’ve reached the moment when webring everything together.Delicious metrics = business + social @Rhea | #searchfest
  52. 52. Analysis:Yes, you must now THINK. What caused thetimely, engaged product page not to convert?Did anyone visit the page?! WTF(udge) They forgot the chocolate! @Rhea | #searchfest
  53. 53. TIME OUT! We need an after action review withall responsible teams present. Not to place blame—to develop achecklist/process for future success and accountability. @Rhea | #searchfest
  54. 54. Potential AARSocial Media:  Daily social media reporting of most shared content.Marketing/Content:  Develop plan for seasonal product promotion and related products.Development:  Link to “other recommendations” mentioned in the second line of content to a landing page.Design:  Place “related products” in an area that isn’t consistent with ads.  Integrate “related products” with the product layout/design. @Rhea | #searchfest
  55. 55. Seasonal Linkbait Back to school @Rhea | #searchfest
  56. 56. Social Media Metrics• 7,065 visits • 5,304 likes• 2.3% of all social referrals • 38 lists• 4th most socially shared URL • 79,000+ views SOCIAL MEDIA & SEO SUCCESS! @Rhea | #searchfest
  57. 57. Business Metrics0 conversions… AGAIN!Business objective:• Grow customer base and revenueOutcome: FAIL! @Rhea | #searchfest
  58. 58. What happened to our chocolate? @Rhea | #searchfest
  59. 59. Where is the call-to-action?
  60. 60. Here it is! Two “relatedsearches” text links.
  61. 61. TIME OUT! TAKE TWO.We need an another after action review. Marketing and/or SEO:  Linkbait needs a content strategy informed by business objectives and metrics. All departments:  Develop compelling calls-to-action that integrate with the linkbait and align with our promotional strategy. @Rhea | #searchfest
  62. 62. Let’s talk about a perceived social media failure that’s actually a success. @Rhea | #searchfest
  63. 63. Social Referrals 2012 vs 2013 SOCIAL MEDIA FAIL! @Rhea | #searchfest
  64. 64. FAIL!EPIC FAIL!SUPER FAIL!STILL A FAIL!Whew, success?
  65. 65. What were the business metrics? @Rhea | #searchfest
  66. 66. Conversions @Rhea | #searchfest
  67. 67. ExpenseRevenue s @Rhea | #searchfest
  68. 68. Organic Search Traffic @Rhea | #searchfest
  69. 69. What drove these results if social media metrics were all down? @Rhea | #searchfest
  70. 70. PHARTSPassionHonestyAccountabilityResults-DrivenTenacitySocial Responsibility @Rhea | #searchfest
  71. 71. @Rhea | #searchfest
  72. 72. Strategic Posts @Rhea | #searchfest
  73. 73. Community Involvement @Rhea | #searchfest
  74. 74. Speaking & Partnerships @Rhea | #searchfest
  75. 75. Training & Mentorship @Rhea | #searchfest
  76. 76. Client Retention & Growth @Rhea | #searchfest
  77. 77. We got social with the people who mattered to us (not everyone!). @Rhea | #searchfest
  78. 78. Direct social media ROI doesn’t matter if we use social media to meet exceed business objectives. @Rhea | #searchfest
  79. 79. Want to grow SEO’s % of revenue?GET CREATIVE! You can use social mediametrics to qualify link prospects and as aperformance metric for campaign success. Relevance Engageme Backlinks nt @Rhea | #searchfest
  80. 80. Blogger Outreach Quality MatrixDeveloped a combination of: 1. Backlinks – Citation Flow from Majestic SEO 2. Engagement – Avg of Engagement Per Post (EPP) w/3 posts 3. Relevance – 3 tiers affect minimum thresholds for CF and EPP @Rhea | #searchfest
  81. 81. Without this approach:SEO Social Media• Backlinks regardless of • Focused on outreach without industry relevance knowledge of risks, e.g. sponsored posts or mommy• Riskier methods of link blogger outreach acquisition to hit link quantity vs. quality metrics • Placing backlinks in questionable neighborhoods• Referral traffic isn’t a consideration • Not tied to content strategy• Not supporting social media • Not supporting SEO efforts efforts @Rhea | #searchfest
  82. 82. Together, we achieve individualsocial media and SEO metrics as well as business metrics. In 20 years we won’t remember a world where wedidn’t base business decisions in social media metrics. @Rhea | #searchfest
  83. 83. Get the deck:http://www.slideshare.net/rdrysdaleSay hello! rhea@outspokenmedia.com t: @Rhea | @outspokenmedia

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