Social Media Metrics

1,209 views

Published on

Published in: Business
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,209
On SlideShare
0
From Embeds
0
Number of Embeds
37
Actions
Shares
0
Downloads
8
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Social Media Metrics

  1. 1. Social Media Metrics<br />HOW TO MEASURE AND OPTIMIZE<br />YOUR MARKETING INVESTMENT<br />JIM STERNE<br />
  2. 2. Social Media Defined<br /><ul><li>INTERNET: many-to-many communication channel
  3. 3. Internet is so unique because it has always been all about the average Joe
  4. 4. “social media” is that which allows anybody to communicate with everybody (consumer-generated content distributed through easy–to-access online tools)</li></li></ul><li>Social Media Defined<br /><ul><li>six broad categories of social media: Forums and Message Boards, Review and Opinion Sites, Social Networks, Blogging, Microblogging, Bookmarking, Media Sharing
  5. 5. 100 WAYS TO MEASURE SOCIAL MEDIA
  6. 6. for: marketers, marketing managers, small business people, university professors, advertising agencies etc.</li></li></ul><li>Social Media MetricsChapters 1-3<br />By Nate Ford<br />
  7. 7. <ul><li>Chapter 1- Getting Focused
  8. 8. Putting #s in context- 4231 views on first day
  9. 9. 3 Big Business Goals- Raise Revenue, Lower Cost, Increase Customer Satisfaction. (All Intertwined)
  10. 10. $1 Million Easy
  11. 11. What Are You Asking? (Are Fat People Lazy?)
  12. 12. Know Your Goals!!!</li></li></ul><li><ul><li>Chapter 2- Getting Attention: Reaching Your Audience
  13. 13. Reach- % of people in a group you want to affect with your message (but it’s quite a fuzzy number, more about opportunity and potential)
  14. 14. Brand Recognition- KFC or Coca Cola
  15. 15. How Many People- Very Tricky Question
  16. 16. Retweets- Means your info is Valuable
  17. 17. What people say about your company is big
  18. 18. Acuvue Wink App- sales up 17% on contacts
  19. 19. Measuring reach and data has a lot to do with guesswork and luck.</li></li></ul><li><ul><li>Chapter 3- Getting Respect: Identifying Influence
  20. 20. First level reach point system- 1 for subscribers/followers and readers, 2 for fans, and 4 for repeaters
  21. 21. Unintentional Excitement- Getting Lucky on Ads (Eco-Friendly Cars)
  22. 22. Twitter Followers- Not Always What it Seems
  23. 23. Who people Listen to- 3 types: Key Influencers, Social Influencers, Known Peer Influencers
  24. 24. Lunch Menu Tweets Do Not Score High
  25. 25. Twitalyzer- Scores your Twitter “goodness”</li></li></ul><li>Social Media Metrics<br />Chapters 4-6<br />
  26. 26. Sentiment Analysis<br />Raw text – easy to misunderstand the meaning => Textual analysis tools<br />Measure emotions – basic variables:<br />Polarity<br />Intensity<br />Text analysis => Social media?<br />Accurate measurement – human readers<br />
  27. 27. Sentiment Analysis<br />http://twitrratr.com/The bag-of-wordsapproach<br />Man andmachinecooperation<br />http://twittersentiment.appspot.com/Human agent<br />Problem: 140 characterlimitation<br />http://www.socialmention.com/<br />Learningfrom user interaction<br />Human as a controller<br />
  28. 28. Triggering Action<br />
  29. 29. CTR, trackingvisitors<br />Conversationrate, tagging<br />Repostingcontent<br />Popularity ranks<br />SocialBookmarking<br />
  30. 30. Hearing the Conversation<br />Market as a conversation<br />Listen to themSearchhttp://www.addthis.com/home<br />Listen to themRate<br />Listen to themPraise<br />Listen to themReview<br />Listen to themRecommendhttp://www.foreseeresults.com/<br />Listen to themComplain<br />Askthem to Participatehttp://mystarbucksidea.force.com/<br />Askthem to Contribute<br />
  31. 31. Social Media Metrics<br />Chapters 7-9<br />
  32. 32. Getting Results – Driving Business Outcomes<br /><ul><li>= results that help improve the bottom line
  33. 33. Indicators that provide feedback
  34. 34. Business outcomes are measurable and include things like awarness, survey completions, subscriptions, registrations, blog comments, blog posts, leads (how many are potentional customers?), purchases
  35. 35. WHAT ARE THE MOST IMPORTANT THINGS TO MEASURE?</li></ul>Key Performance Indicators for Web Sites<br />Key Listening Indicators<br />Key Community Indicators<br />Comparison with the Competition (tools like Wetpaint, Engagement Database etc.)<br />Crowdourcing (for product ideas, customer service, usability studies, television ads, etc.)<br />
  36. 36. Key Performance Indicators for Web Sites<br /><ul><li>KPI are response to a general organizational fear of spreadsheets and comlex applications.
  37. 37. Idea is that you‘re taking technical data and presenting it using business-relevant language.
  38. 38. ALL GOOD KPI DRIVE ACTION („Any KPI that, when it changes suddenly and unexpectedly does not inspire someone to send an e-mail, pick up the phone, or take a quick walk for find help, is not a KPI worth reporting.“)
  39. 39. TYPES:</li></ul>AVARAGES (page views per visit, revenue per visitor)<br />PERCENTAGES (new and returning visitors or customers)<br />RATES AND RATIONS (order or buyer conversion rate)<br />KPI BY BUSINESS TYPE (KPI for online retailers)<br />
  40. 40. Key Listening Indicators<br /><ul><li>Bulding community is human endeavor.
  41. 41. Marketplace is a conversation and that means we need to measure our impact on it.
  42. 42. KPI LI are tools for managing online forums or creating and running successful community discussion boards.
  43. 43. Patrick O‘Keefe says that good moderator or community manager is more important than all the rest.
  44. 44. Listening is a laborious task requiring employee support.
  45. 45. It‘s a challenge – tools are maturing.
  46. 46. 3 areas: Sentiment analysis, Integration with other metrics and systems, Experienced analytics professionals who could help get these tools and processes implemented</li></li></ul><li>Key Community Indicators<br /><ul><li>Measurement should be a priority for online communities.
  47. 47. „Community managers must educate stakeholders and stay connected and be able to quickly communicate changes back to internal company stakeholders.“
  48. 48. The characteristics of healthy communities:</li></ul>Growing = Members<br />Useful = Content<br />Popular = Traffic<br />Interactive = Topic Interaction<br />Unique visitors, New Member Registration, Page views, Retention/Attrition, Member Loyalty, Member Satisfaction, Most Active Members<br />
  49. 49. Getting Buy-In-Convincing Your Colleagues<br /><ul><li>„You need to convince the people with their hands on the budget that this is a good idea.“
  50. 50. Two things about measuring marketing:</li></ul>Humans do not like being measured.<br />„Accountability“ is another word for „we don‘t trust you so we‘re going to measure everything you do.“<br /><ul><li>So how we can do this?</li></ul>Step 1:Accept Your Role as Change Agent<br />Step 2:Match the Message with the Receiver<br />Step 3:Low-Hanging Fruit<br />Step 4:Accept Your Role as Change Agent<br />Step 5:Match the Message with the Receiver<br />Step 6:Low-Hanging Fruit<br />
  51. 51. Getting Ahead – Seeing the Future<br /><ul><li>Everything becomes social
  52. 52. We still have to craft a message and adress it the mases (still a need for mass media)
  53. 53. Key is how a person uses a web site describes a certain neural pattern that can be compared with a database of others and classified by gender, age, and a lot more.
  54. 54. „Future is secure in your hands as a consumer. As a marketer, however, things are just starting to get interesting.“</li>

×