The Numbers Game - An Exploration into Social Media Analytics

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Presentation given to students of the IMMAP Certified Digital Marketing Program on Friday 31 May 2013 on Social Media Analytics.

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The Numbers Game - An Exploration into Social Media Analytics

  1. 1. The Numbers Game Robin Leonard CEO, AllFamous Digital An exploration into Social Media Analytics
  2. 2. Agenda 1.  Introduction 2.  Why care? 3.  Types of analytics 4.  Defining objectives 5.  Setting KPIs 6.  Creating reports 7.  Calculating ROI
  3. 3. introduction We have run 3 demos I believe we all agree the value of getting into social… But just in case you don’t agree we are passionate about social @ My name is Robin Leonard CEO, AllFamous Digital I’m a kiwi, living in the Philippines for 3 years My professional background is management consulting, marketing, CRM and contact center management expert in digital strategy robin_allfamous robinleonard1 FOLLOW ME ON: www.allfamous.com
  4. 4. http://bit.ly/zaH9AM What is the ROI of my mother?
  5. 5. Agenda 1.  Introduction 2.  Why care? 3.  Types of analytics 4.  Defining objectives 5.  Setting KPIs 6.  Creating reports 7.  Calculating ROI
  6. 6. Why care? Justifying social media to your boss?
  7. 7. Why care? Gain actionable insights
  8. 8. Why care? Turn connections into customers for life
  9. 9. Get real-time insights on your competitors - Sun Tzu “Know your enemy and know yourself and you can fight a hundred battles without disaster” What would Sun Tzu do if he had Radian6? Why care?
  10. 10. Example: Reputation Management
  11. 11. Example: Reputation Management
  12. 12. Example: Reputation Management
  13. 13. Example: Reputation Management
  14. 14. Example: Reputation Management
  15. 15. http://adage.com/article/digital/mckinsey-finds-social-buzz-affect-sales-negatively/242039/ Yes, Sentiment Impacts Sales
  16. 16. Agenda 1.  Introduction 2.  Why care? 3.  Types of analytics 4.  Defining objectives 5.  Setting KPIs 6.  Creating reports 7.  Calculating ROI
  17. 17. Types of Analytics Social Web Listening Lets focus for today social media analytics Others include influencer, pipeline conversion, PPC, Email etc
  18. 18. Social Analytics Lets look at Facebook Insights
  19. 19. Web Analytics Lets look at Google Analytics
  20. 20. Social Listening Lets look at Radian6
  21. 21. What is Sentiment?
  22. 22. What is Sentiment? emotions opinions intent Subjective impressions, not facts
  23. 23. Example 1: Happy Mention subject emotion brand product service
  24. 24. Example 2: Unhappy Mention fact fact opinion emotion
  25. 25. Example 3: Sarcastic Mention brand brand opinion service emotion
  26. 26. Example 4: Mixed Mention emotion service brand opinion
  27. 27. Example 5: Language Confusion brand opinion fact
  28. 28. Example 6: Intent to Buy fact brand subject intent brand brand question
  29. 29. The elusive hunt for binary •  For vs. Against •  Like vs. Dislike •  Good vs. Bad •  Ecstatic vs. Happy •  Excited vs. Amused •  ROFL vs. LOL •  Depressed vs. Unhappy •  Sad vs. Destitute •  Frustrated vs. Angry
  30. 30. Challenges of Automated Sentiment Analysis §  People express opinions in complex ways §  Cultural ideosyncracies (e.g. differences in sarcasm, irony etc) §  The wider you throw your net and the more complex the language, the less accurate the system will be.
  31. 31. Agenda 1.  Introduction 2.  Why care? 3.  Types of analytics 4.  Defining objectives 5.  Setting KPIs 6.  Creating reports 7.  Calculating ROI
  32. 32. Being a “Customer Company” http://bit.ly/YEsHmu
  33. 33. Social Scorecard Functionality" Extensive!Limited! BusinessImpact"High!Low! 4 2 3 2 – Organized •  Direct consumer engagement, may include Customer Service" •  Basic brand monitoring" •  Paid/owned/earned presences are born" •  Social media policies and training in place" •  Full time social media employees " 3 – Engaged •  Creating and publishing content key to engagement" •  Measuring success against business goals" •  Social media management employees" •  Competitive and industry monitoring" 4 – Optimized •  Paid/owned/earned is optimized" •  Social is embedded across enterprise" •  Employee certification required" •  Senior leadership active in social media" 1 – Informal! •  Marketing, PR or Comms with siloed efforts" •  No policies or training" •  Senior leadership asking “why?”" 1 How do you score? http://www.radian6.com/socialscorecard/
  34. 34. Internal Stakeholder Needs.
  35. 35. Defining Objectives 1.  Sales 2.  Lead Generation 3.  Call Deflection 4.  Fanbase Growth 5.  Brand Sentiment What really matters to your bottom line?
  36. 36. Objective 1: Sales Do you have a closed sales loop?
  37. 37. Objectives 2: Lead Generation Can you capture and manage leads?
  38. 38. Objective 3: Call Deflection Social is 40% cheaper than call centers
  39. 39. Objective 4: Fanbase Growth What is a fan worth?
  40. 40. Objective 5: Sentiment Does sentiment affect revenue?
  41. 41. Agenda 1.  Introduction 2.  Why care? 3.  Types of analytics 4.  Defining objectives 5.  Setting KPIs 6.  Creating reports 7.  Calculating ROI
  42. 42. Key activities
  43. 43. Smart marketers test the water
  44. 44. Advertising is predictable CPC CPM
  45. 45. Don’t rely on virality
  46. 46. Social is a long term game
  47. 47. Agenda 1.  Introduction 2.  Why care? 3.  Types of analytics 4.  Defining objectives 5.  Setting KPIs 6.  Creating reports 7.  Calculating ROI
  48. 48. How do I create a report? Don’t provide a convoluted report, it looks insecure How much time and money did I spend? What are the tangible results? What do I need to improve?
  49. 49. Agenda 1.  Introduction 2.  Why care? 3.  Types of analytics 4.  Defining objectives 5.  Setting KPIs 6.  Creating reports 7.  Calculating ROI
  50. 50. Calculating ROI from Social
  51. 51. Fans will be driven to stores or online store with “offer codes” to identify them as social marketing leads, and also track how and why we engaged with them Assumption monthly target Store purchases 2,750 pairs Online purchase 250 pairs Total Pairs Sold 3,000 pairs Profit from each pair PHP 100 Total Benefit PHP 300,000 Total Cost PHP 200,000 ROI = (300,000) – (200,000) (200,000) = 50% = PHP 100,000 / month CAVEAT: This is based on rough assumptions and only considers profit benefit from digital lead generation 500 {return on investment} {assumptions} ROI Calculation Example
  52. 52. Questions?
  53. 53. Thank You!! www.allfamous.com Robin Leonard CEO, AllFamous Digital robin_allfamous robinleonard1

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