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SELECTED FINDINGS




How to Measure
your Social Media
Impact and ROI
An invaluable guide to finding and
optimising your elusive social media ROI

PLUS sophisticated analysis of cross-industry
measurement strategies, must-have scorecard
metrics and mistakes to avoid




OPEN NOW for your selected findings from this
new ground breaking report
www.usefulsocialmedia.com/impact
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                                                                   An invaluable guide to finding and optimising your elusive social media ROI
                                                                         PLUS sophisticated analysis of cross-industry measurement strategies,
                                                                                            must-have scorecard metrics and mistakes to avoid



    It’s the biggest challenge the                                                                             Who should buy
                                                                                                               this report?
    social media practitioner faces                                                                            •	 	 hief	Marketing	
                                                                                                                  C
                                                                                                                  Officers	(CMOs)	
    Working out the ROI specifically, and your impact more                                                     •	 	 ocial	Media	
                                                                                                                  S
    broadly, are two of the most critical challenges a social media                                               managers and
                                                                                                                  directors
    practitioner faces.
                                                                                                               •	 	 orporate	
                                                                                                                  C
    Unlocking the answers to these two long-recurring bugbears                                                    communications
    could potentially pave the way to lucrative opportunities for                                                 professionals
    your brands.                                                                                               •	 	 ustomer	Service	
                                                                                                                  C
                                                                                                                  professionals
    Fear not. Useful Social Media’s ground-breaking report                                                     •	 	 arketing	
                                                                                                                  M
    offers a fresh guide to effectively implementing social                                                       departments
    media measurement strategy – and measuring the ROI                                                            within	SMEs	
    of campaigns.


    Purchase the report today to get...

     Practical steps and         The key metrics            Exclusive Useful            A tailored                  Detail on the
     best practice on            you need to                Social Media                and exclusive               key differences
     assessing impact            consider when              survey data                 Scorecard you can           between B2B
     and calculating             measuring your             revealing the               use to accurately           and B2C social media
     ROI – from some             social media               thoughts of hundreds        assess your own             marketing response
     of the leading              impact – and               of stakeholders on          impact – based on           and impact
     corporate practitioners     benchmark figures          their approach to ROI       best practice from
     at work today               from industry leaders      and measurement...          the leaders



    Who wrote the report?                                                 Our methodology
    Veteran writer and journalist Peter Kirwan has more than 20           We interviewed 11 brands including Siemens, Adobe, World
    years’ experience reporting on consumer, technology and the           Wrestling Entertainment and Hewlett Packard, delving into
    financial and business markets. After witnessing the web’s            cross-industry similarities and differences in social media ROI
    early-stage effects on tech publishing during the late 1990s,         and measurement strategies. An additional six interviews were
    he launched Fullrun, a subscription-based web site dedicated to       completed with social media authors and agency contacts.
    analysing the impact of technology on media and marketing in
                                                                          This was coupled with an industry-wide survey sent to the US,
    the tech sector. He is also a regular contributor to The Guardian
                                                                          Europe and Asia, aimed at a greater number of brands, and looking
    and is a social media enthusiast.
                                                                          at approaches to measurement and ROI, attitudes towards these
                                                                          strategies and what are their prevailing scorecard metrics.


    Order your copy today, visit www.usefulsocialmedia.com/impact
    For more information contact reports@usefulsocialmedia.com                                                                              2
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                                                      An invaluable guide to finding and optimising your elusive social media ROI
                                                            PLUS sophisticated analysis of cross-industry measurement strategies,
                                                                               must-have scorecard metrics and mistakes to avoid



    Some key statistics, findings and
    quotes we reveal in the Report:

                                    Exclusive	 USM	 data	 revealed	 76%	 say	 they	 are	 ‘quite	 relaxed’	 or	
                                    ‘somewhat	relaxed’	about	ROI	measurement...

                                    Over	50%	of	respondents	said	they	are	‘mildly’	or	‘very	dissatisfied’	with	
                                    the way in which their organisation undertakes measurement, according
                                    to	Useful	Social	Media’s	industry-wide	survey...

                                    Writer	Peter	Kirwan	states	in	his	conclusions:	‘Metrics	are	fundamental	
                                    to	success	in	the	social	space.	The	old	saying	that	we	overestimate	the	
                                    level of change in the short term but underestimate it in the long term
                                    never	seemed	more	apt.’

                                    Jennifer	 Vogel,	 Communications	 Manager	 at	 The	 Rainforest	 Alliance,	
                                    describes	the	company’s	first	steps	in	social	media,	saying:	‘The	evolution	
                                    was	one	of	fear.	What	happens	when	it's	no	longer	a	one-way	dialogue?	
                                    Everyone	has	that	fear.	But	gradually	it's	just	become	normal.’

                                    Beth	LaPierre,	chief	listener	at	Kodak,	describes	using	social	media	as	
                                    a	 market	 research	 tool:	 ‘We	 can	 understand	 how	 customers	 use	 the	
                                    product	in	their	life.	There's	always	going	to	be	a	value	and	time	for	that	
                                    in	the	research	process.	When	we've	got	some	early	product	ready	to	go,	
                                    we	give	them	to	heavy	users	and	get	some	feedback.’

                                    Stefan	Heeke’s	top	USP	of	social	media	is:	transparency.	‘Social	media	
                                    forces	 us	 to	 become	 more	 transparent,’	 he	 revealed	 ‘which	 is	 hugely	
                                    important for a large corporation because people have suspicions and
                                    fears.	Transparency	is	a	huge	lever	of	gaining	trust.	That's	important.’

                                    Social	media	specialists	working	in	Adobe's	business	units	‘need	to	look	
                                    at	the	dirty	laundry’,	says	Adobe’s	social	media	director	Maria	Poveromo,	
                                    in	order	to	‘figure	out	what	to	do	to	increase	performance	or	change	
                                    impact.’



    Order your copy today, visit www.usefulsocialmedia.com/impact
    For more information contact reports@usefulsocialmedia.com                                                                 3
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                                                          An invaluable guide to finding and optimising your elusive social media ROI
                                                                PLUS sophisticated analysis of cross-industry measurement strategies,
                                                                                   must-have scorecard metrics and mistakes to avoid



    Defining Your Impact

                                     Engagement

                                     Engagement is a broad term, wide enough in its meaning to cover a multitude of sins (and
                                     virtues). One recent effort to list social engagement metrics unearthed 35 data types, ranging
                                     from the obvious (downloads and views) to the not-so-obvious (‘print page’, ‘report spam/
                                     abuse’ and visits to a settings page). (Lake, 2009)

                                     Yet we know instinctively what engagement means. And it’s also very clear what Stefan
                                     Heeke, director of online marketing at Siemens, means when he suggests that ‘advertising
                                     and the whole marketing machine is not very good at engaging people’.

                                     Most advertising is based upon interruption. If engagement isn’t quite the opposite of
                                     interruption, it does suggest a willingness on the part of marketers to go with the flow of an
                                     existing conversation, to contribute something back to the network.

                                     At Kodak, engagement is one of four broad metrics measured by chief listener Beth
                                     LaPierre (the others are ‘reach’, ‘impact’ and ‘influence’). If reach involves the total number
                                     of eyeballs exposed to a message, engagement focuses on actions that don’t directly result
                                     in the achievement of a business objective. LaPierre measures engagement across both
                                     kodak.com and the wider web in multiple ways: click-throughs, views, comments, likes
                                     and shares.

                                     The potential metrics here are broad: in fact, LaPierre defines engagement as ‘any action
                                     that’s different from impact’ (which tends to be an outcome which aligns closely with hard-
                                     edged business objectives).

                                     Of the difference between impact and engagement, LaPierre says: ‘It can be fuzzy.’ To
                                     illuminate the difference, she refers to Kodak’s recent Father’s Day campaign. This
                                     campaign encouraged Facebook users to upload their favourite photographs of their father.
                                     The company promised it would publish the ten best photos on its home page and on the
                                     Kodak billboard in New York’s Times Square on Father’s Day. Also associated with the
                                     campaign was a 20% discount on an electronic photo frame with Facebook connectivity at
                                     the Kodak store.

                                     Here’s how LaPierre breaks down this particular campaign’s objectives: ‘One goal is ‘reach’;
                                     another goal would be ‘engagement’, in that we want a lot of people to share and talk about
                                     it. But the real impact is in how many click-throughs did we get to the product page?’

                                     As you might expect, Avinash Kaushik, the guru of web analytics, detects some challenges
                                     with measuring engagement. Specifically, Kaushik has this to say on the subject:
                                     (Kaushik, 2010)

                                     ‘Metrics masquerading as engagement in the analytics-o-sphere are not really metrics, they
                                     are an excuse to (a) not accept the limits of the possible and (b) hide what is actually being
                                     measured.’

                                     Furthermore, Kaushik suspects that traditional web analytics can only measure a part of
                                     what we think of as engagement. In other words, it can measure the degree of a user’s



    Order your copy today, visit www.usefulsocialmedia.com/impact
    For more information contact reports@usefulsocialmedia.com                                                                     4
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                                                           An invaluable guide to finding and optimising your elusive social media ROI
                                                                 PLUS sophisticated analysis of cross-industry measurement strategies,
                                                                                    must-have scorecard metrics and mistakes to avoid




                                     engagement, but not the kind of that engagement. Here’s how Kaushik breaks down
                                     engagement into ‘degree’ and ‘kind’:

                                     Degree: the degree of positive or negative engagement lies on a continuum that ranges
                                     from low involvement to high. An engaged person is someone with an above-average
                                     involvement with his or her object of relatedness.

                                     Kind: customers can be positively or negatively engaged with a company or product. A
                                     more in-depth examination of [engagement by] kind would reveal its content, usually a
                                     mixture of emotional states and rational beliefs, such as in the case of positive engagement,
                                     sympathy, trust, pride and so on.

                                     If these definitions seem overlapping at first, the difference becomes clearer once we start to think
                                     of degree as being largely quantifiable and kind as being about largely qualitative judgments.

                                     On the web, engagement by degree can be measured by metrics like frequency of visits,
                                     depth of visit, outcomes (a download or full/partial video view). According to Kaushik,
                                     measuring engagement by degree involves more complex approaches, including surveys,
                                     likelihood to recommend (‘a strong proxy for engagement’) and customer retention over
                                     time (‘months of data, segmented for online and offline and for various micro-segments of
                                     your online population’.)

                                     Engagement: Some practical lessons

                                     We asked our interviewees how they measured users’ engagement with their social media
                                     presence. The answers fell into two categories: those who measured degree of engagement
                                     in fairly straightforward fashion; and those who also measured kind of engagement, largely
                                     by using offline survey techniques.

                                     -- Stefan Heeke of Siemens: reach and social impressions:

                                     ‘We will look at the hashtag usage, how much buzz we’ve created, how many followers, the
                                     tonality of it… But I think the only thing you can really measure is reach. We sort of look at
                                     social impressions, how many people are posting things, or on Facebook, people putting
                                     something in the status. We apply a factor to that.

                                     ‘So, for instance, let’s say someone uses an app and then they say, ‘I just used an application’
                                     and they post that on their status or say, ‘I like this’ or ‘I follow this’. This is something
                                     that’s public to the friends of the person putting up that status update. So these are social
                                     impressions. If 10,000 did that, put it on their status, you can multiply it by 100 -- everybody
                                     has 100 friends. So you actually have a reach of 1m by people sharing information.

                                     ‘We measure that on a project-by-project basis. So, take the water footprint app, we can
                                     see how many people put that on their status.

                                     ‘If you just look at the followers, people might say 5,000 followers is small. But if you can
                                     say that 10,000 posted content that will travel through the social network… It’s not a hard
                                     number, obviously, but it’s argument.’




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    For more information contact reports@usefulsocialmedia.com                                                                          5
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                                                           An invaluable guide to finding and optimising your elusive social media ROI
                                                                 PLUS sophisticated analysis of cross-industry measurement strategies,
                                                                                    must-have scorecard metrics and mistakes to avoid




                                     Influence

                                     If, as Andrew Bruce Smith suggests, there tend to be two approaches to measuring the
                                     output of social media investment -- one derived from web analytics, the other from branding
                                     and PR -- the measurement of influence certainly traces its lineage to the PR industry.

                                     In the pre-web era, influencers were easy to spot: they were typically ‘experts’ (academics,
                                     financial analysts, business leaders, columnists). It was partly the job of publicists to
                                     influence these ‘experts’, whose opinions would subsequently be amplified by mass media
                                     and trickle down toward the broader public.

                                     Katie Delahaye Paine, the measurement guru, argues that social media has ‘officially signed
                                     the death certificate’ for this model of influence. (Delahaye Paine, 2011)

                                     Elite influencers

                                     No doubt. But the idea of influence isn’t dead. On the contrary, it has persisted online. As
                                     early as 2000, the PR agency Burson Marsteller released the first in a long line of reports on
                                     America’s ‘e-fluentials’, which suggested that the opinions of the most vocal and influential
                                     consumers were greatly amplified by the web. (Holmes, 2001)

                                     ‘Representing 8% of the internet population (about 9 million users), this group influences
                                     more people on more topics than other online users. And, they are eight times more effective
                                     at communicating their views than Roper’s traditional ‘influentials’.’

                                     From the mid-noughties onward, spurred on by Malcolm Gladwell’s book The Tipping Point,
                                     the ability to identify and sell stories to an influential elite of bloggers became a selling point
                                     for many PR agencies. (Gladwell, 2001)

                                     In 2006, Technorati, the blog search engine, struck up a partnership with Edelman, the PR
                                     agency. On the basis of this exclusive arrangement, Edelman promised to guide its clients
                                     through ‘a chaotic world of continuous discussion, learning from the crowd and remixed
                                     media where companies must cede control to gain credibility’. (Edelman, 2006)

                                     Much of Technorati’s data focused on the growth of blogging as a phenomenon.
                                     Accompanying efforts to identify ‘top 10’ or ‘top 100’ lists of bloggers were intended to
                                     showcase the idea that PR agencies were in a good position to master the dynamics of
                                     conversational marketing. Subsequent efforts at measurement attempted to blend this
                                     focus on elite bloggers with some acknowledgement of the rapid rise of Facebook and
                                     Twitter (frequently referred to at the time as a form of ‘microblogging’). (Brain, 2007)

                                     Efforts such as these, which attempt to measure elite influentials, have been repeatedly
                                     criticised over the years. Yet this is a meme that persists: Technorati is no longer measuring
                                     blog-based influence, but its descendants like PeerIndex have adopted a more sophisticated
                                     approach to the same challenge, measuring elite influencers across multiple social channels.
                                     (Reichenstein)

                                     Watts vs Gladwell: Elite influencers vs random effects



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                                                            An invaluable guide to finding and optimising your elusive social media ROI
                                                                  PLUS sophisticated analysis of cross-industry measurement strategies,
                                                                                     must-have scorecard metrics and mistakes to avoid




                                     By the time Malcolm Gladwell wrote The Tipping Point, the notion of influencers as a driving
                                     force behind the adoption of memes had been around for 50 years or so. In his book, Gladwell
                                     dusted down the ‘six degrees of separation’ experiment conducted by the sociologist Stanley
                                     Milgram in 1967 and contextualised them for a new audience. (Gladwell, 2001)

                                     In that experiment, Milgram gave letters to 160 people in Nebraska, and told them to try to
                                     send the letters on their way to a stockbroker in Boston with whom they had no personal
                                     connection, by sending them to a colleague socially closer to the target. Famously, most of
                                     the letters arrived at their destination after passing through the hands of six intermediaries.

                                     What Gladwell noticed was the way in which half of Milgram’s letters were delivered to the
                                     stockbroker by the same three friends. These individuals were described by Gladwell as
                                     ‘connectors’. The rest of us, he argued, are ‘linked to the world through these special few’.

                                     Gladwell’s book itself exerted a powerful influence on the way in which marketers started to think
                                     about influence at the dawn of the social web. Yet it has also been criticised repeatedly by researchers
                                     like Duncan Watts, director of the Human Social Dynamics Group at Yahoo! Research.

                                     Watts has argued that Gladwell attributes far too much power to connectors or influencers.
                                     Instead, Watts’s experiments emphasise the apparently random way in which memes
                                     spread through networks. ‘If society is ready to embrace a trend, almost anyone can start
                                     one -- and if it isn’t, then almost no one can,’ Watts has said.

                                     As the journalist Clive Thompson noted in 2008, the irony of Watts’s findings is that ‘since you
                                     can never know which person is going to spark the fire, you should aim the ad at as broad a
                                     market as possible -- and not waste money chasing ‘important’ people’. (Thompson, 2008)

                                     For marketers, this raises multiple questions. One of the most important, in the social realm,
                                     is this: should marketers place their faith in what Sinan Aral, an assistant professor at the New
                                     York University Stern School of Business, calls ‘active personalised messaging’ or ‘passive
                                     broadcast messaging’. The former, says Aral, ‘requires more effort and time, which may curtail
                                     their use’. The latter ‘may reach more people but may be less persuasive’. (Aral, 2010)




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    For more information contact reports@usefulsocialmedia.com                                                                             8
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                                                       An invaluable guide to finding and optimising your elusive social media ROI
                                                             PLUS sophisticated analysis of cross-industry measurement strategies,
                                                                                must-have scorecard metrics and mistakes to avoid



    The Full Table of Contents


                                     Chapter 1 – Social Media: An Introduction
      What the report
                                     1.1	 	 ow	many	companies	use	it?
                                          H
      covers, in detail:
                                     1.2	 What	do	they	use	it	for?
      •	 References
                                     1.3	 	 ocial	measurement:	our	survey	results
                                          S
      •	 Contents
      •	 Table	of	figures
                                     Chapter 2 – Defining Your Impact:
      •	 Executive	summary
                                     2.1	 	 ngagement
                                          E
      •	 Introduction	
                                     2.2	 	nfluence
                                          I
                                     2.3	 	 dvocacy
                                          A
                                     2.4	 	 entiment
                                          S
                                     2.5	 	 quivalence
                                          E
                                     2.6	 	 ase	study	from	a	leading	practitioner
                                          C


                                     Chapter 3 – Measuring Your Impact (Social Media Metrics)
                                     3.1   How do leading companies measure against the metrics
                                           they	have	set	themselves?
                                     3.2	 	 efining	the	value	of	a	Twitter	follower/Facebook	fan
                                          D
                                     3.3	 	 aid	vs	free
                                          P
                                     3.4	 	 ase	studies	from	leading	practitioners
                                          C


                                     Chapter 4 – Industry Comparables
                                     4.1	 	nvestment	and	returns:	What	are	companies	spending	and	getting?
                                          I
                                     4.2	 	 taff	and	budget
                                          S
                                     4.3	 	 ifference	between	b2b/b2c
                                          D
                                     4.4	 	 ase	studies	from	leading	practitioners
                                          C


                                     Chapter 5 – The Useful Social Media Scorecard
                                     5.1	 	 he	Useful	Social	Media	Scorecard
                                          T
                                     5.2	 	 uestions	to	ask	to	assess	your	own	social	media	impact/ROI
                                          Q


                                     Chapter 6 – Conclusions


    Order your copy today, visit www.usefulsocialmedia.com/impact
    For more information contact reports@usefulsocialmedia.com                                                                  9
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                                                      An invaluable guide to finding and optimising your elusive social media ROI
                                                            PLUS sophisticated analysis of cross-industry measurement strategies,
                                                                               must-have scorecard metrics and mistakes to avoid




    Key Information:
    The Report in numbers


     Pages:                              Charts:                                     Release Date:




     168 30+                                                                          July 25,
                                                                                      2011


    To pick up your copy of this critical business
    intelligence report, go to
    www.usefulsocialmedia.com/impact
    Remember, buy your copy before August 26 and save $300!




    Order your copy today, visit www.usefulsocialmedia.com/impact
    For more information contact reports@usefulsocialmedia.com                                                               10

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How to Measure Your Social Media Impact and ROI - Selected Findings

  • 1. SELECTED FINDINGS How to Measure your Social Media Impact and ROI An invaluable guide to finding and optimising your elusive social media ROI PLUS sophisticated analysis of cross-industry measurement strategies, must-have scorecard metrics and mistakes to avoid OPEN NOW for your selected findings from this new ground breaking report www.usefulsocialmedia.com/impact
  • 2. Y DA TO E 00 SAV $3 An invaluable guide to finding and optimising your elusive social media ROI PLUS sophisticated analysis of cross-industry measurement strategies, must-have scorecard metrics and mistakes to avoid It’s the biggest challenge the Who should buy this report? social media practitioner faces • hief Marketing C Officers (CMOs) Working out the ROI specifically, and your impact more • ocial Media S broadly, are two of the most critical challenges a social media managers and directors practitioner faces. • orporate C Unlocking the answers to these two long-recurring bugbears communications could potentially pave the way to lucrative opportunities for professionals your brands. • ustomer Service C professionals Fear not. Useful Social Media’s ground-breaking report • arketing M offers a fresh guide to effectively implementing social departments media measurement strategy – and measuring the ROI within SMEs of campaigns. Purchase the report today to get... Practical steps and The key metrics Exclusive Useful A tailored Detail on the best practice on you need to Social Media and exclusive key differences assessing impact consider when survey data Scorecard you can between B2B and calculating measuring your revealing the use to accurately and B2C social media ROI – from some social media thoughts of hundreds assess your own marketing response of the leading impact – and of stakeholders on impact – based on and impact corporate practitioners benchmark figures their approach to ROI best practice from at work today from industry leaders and measurement... the leaders Who wrote the report? Our methodology Veteran writer and journalist Peter Kirwan has more than 20 We interviewed 11 brands including Siemens, Adobe, World years’ experience reporting on consumer, technology and the Wrestling Entertainment and Hewlett Packard, delving into financial and business markets. After witnessing the web’s cross-industry similarities and differences in social media ROI early-stage effects on tech publishing during the late 1990s, and measurement strategies. An additional six interviews were he launched Fullrun, a subscription-based web site dedicated to completed with social media authors and agency contacts. analysing the impact of technology on media and marketing in This was coupled with an industry-wide survey sent to the US, the tech sector. He is also a regular contributor to The Guardian Europe and Asia, aimed at a greater number of brands, and looking and is a social media enthusiast. at approaches to measurement and ROI, attitudes towards these strategies and what are their prevailing scorecard metrics. Order your copy today, visit www.usefulsocialmedia.com/impact For more information contact reports@usefulsocialmedia.com 2
  • 3. Y DA TO E 00 SAV $3 An invaluable guide to finding and optimising your elusive social media ROI PLUS sophisticated analysis of cross-industry measurement strategies, must-have scorecard metrics and mistakes to avoid Some key statistics, findings and quotes we reveal in the Report: Exclusive USM data revealed 76% say they are ‘quite relaxed’ or ‘somewhat relaxed’ about ROI measurement... Over 50% of respondents said they are ‘mildly’ or ‘very dissatisfied’ with the way in which their organisation undertakes measurement, according to Useful Social Media’s industry-wide survey... Writer Peter Kirwan states in his conclusions: ‘Metrics are fundamental to success in the social space. The old saying that we overestimate the level of change in the short term but underestimate it in the long term never seemed more apt.’ Jennifer Vogel, Communications Manager at The Rainforest Alliance, describes the company’s first steps in social media, saying: ‘The evolution was one of fear. What happens when it's no longer a one-way dialogue? Everyone has that fear. But gradually it's just become normal.’ Beth LaPierre, chief listener at Kodak, describes using social media as a market research tool: ‘We can understand how customers use the product in their life. There's always going to be a value and time for that in the research process. When we've got some early product ready to go, we give them to heavy users and get some feedback.’ Stefan Heeke’s top USP of social media is: transparency. ‘Social media forces us to become more transparent,’ he revealed ‘which is hugely important for a large corporation because people have suspicions and fears. Transparency is a huge lever of gaining trust. That's important.’ Social media specialists working in Adobe's business units ‘need to look at the dirty laundry’, says Adobe’s social media director Maria Poveromo, in order to ‘figure out what to do to increase performance or change impact.’ Order your copy today, visit www.usefulsocialmedia.com/impact For more information contact reports@usefulsocialmedia.com 3
  • 4. Y DA TO E 00 SAV $3 An invaluable guide to finding and optimising your elusive social media ROI PLUS sophisticated analysis of cross-industry measurement strategies, must-have scorecard metrics and mistakes to avoid Defining Your Impact Engagement Engagement is a broad term, wide enough in its meaning to cover a multitude of sins (and virtues). One recent effort to list social engagement metrics unearthed 35 data types, ranging from the obvious (downloads and views) to the not-so-obvious (‘print page’, ‘report spam/ abuse’ and visits to a settings page). (Lake, 2009) Yet we know instinctively what engagement means. And it’s also very clear what Stefan Heeke, director of online marketing at Siemens, means when he suggests that ‘advertising and the whole marketing machine is not very good at engaging people’. Most advertising is based upon interruption. If engagement isn’t quite the opposite of interruption, it does suggest a willingness on the part of marketers to go with the flow of an existing conversation, to contribute something back to the network. At Kodak, engagement is one of four broad metrics measured by chief listener Beth LaPierre (the others are ‘reach’, ‘impact’ and ‘influence’). If reach involves the total number of eyeballs exposed to a message, engagement focuses on actions that don’t directly result in the achievement of a business objective. LaPierre measures engagement across both kodak.com and the wider web in multiple ways: click-throughs, views, comments, likes and shares. The potential metrics here are broad: in fact, LaPierre defines engagement as ‘any action that’s different from impact’ (which tends to be an outcome which aligns closely with hard- edged business objectives). Of the difference between impact and engagement, LaPierre says: ‘It can be fuzzy.’ To illuminate the difference, she refers to Kodak’s recent Father’s Day campaign. This campaign encouraged Facebook users to upload their favourite photographs of their father. The company promised it would publish the ten best photos on its home page and on the Kodak billboard in New York’s Times Square on Father’s Day. Also associated with the campaign was a 20% discount on an electronic photo frame with Facebook connectivity at the Kodak store. Here’s how LaPierre breaks down this particular campaign’s objectives: ‘One goal is ‘reach’; another goal would be ‘engagement’, in that we want a lot of people to share and talk about it. But the real impact is in how many click-throughs did we get to the product page?’ As you might expect, Avinash Kaushik, the guru of web analytics, detects some challenges with measuring engagement. Specifically, Kaushik has this to say on the subject: (Kaushik, 2010) ‘Metrics masquerading as engagement in the analytics-o-sphere are not really metrics, they are an excuse to (a) not accept the limits of the possible and (b) hide what is actually being measured.’ Furthermore, Kaushik suspects that traditional web analytics can only measure a part of what we think of as engagement. In other words, it can measure the degree of a user’s Order your copy today, visit www.usefulsocialmedia.com/impact For more information contact reports@usefulsocialmedia.com 4
  • 5. Y DA TO E 00 SAV $3 An invaluable guide to finding and optimising your elusive social media ROI PLUS sophisticated analysis of cross-industry measurement strategies, must-have scorecard metrics and mistakes to avoid engagement, but not the kind of that engagement. Here’s how Kaushik breaks down engagement into ‘degree’ and ‘kind’: Degree: the degree of positive or negative engagement lies on a continuum that ranges from low involvement to high. An engaged person is someone with an above-average involvement with his or her object of relatedness. Kind: customers can be positively or negatively engaged with a company or product. A more in-depth examination of [engagement by] kind would reveal its content, usually a mixture of emotional states and rational beliefs, such as in the case of positive engagement, sympathy, trust, pride and so on. If these definitions seem overlapping at first, the difference becomes clearer once we start to think of degree as being largely quantifiable and kind as being about largely qualitative judgments. On the web, engagement by degree can be measured by metrics like frequency of visits, depth of visit, outcomes (a download or full/partial video view). According to Kaushik, measuring engagement by degree involves more complex approaches, including surveys, likelihood to recommend (‘a strong proxy for engagement’) and customer retention over time (‘months of data, segmented for online and offline and for various micro-segments of your online population’.) Engagement: Some practical lessons We asked our interviewees how they measured users’ engagement with their social media presence. The answers fell into two categories: those who measured degree of engagement in fairly straightforward fashion; and those who also measured kind of engagement, largely by using offline survey techniques. -- Stefan Heeke of Siemens: reach and social impressions: ‘We will look at the hashtag usage, how much buzz we’ve created, how many followers, the tonality of it… But I think the only thing you can really measure is reach. We sort of look at social impressions, how many people are posting things, or on Facebook, people putting something in the status. We apply a factor to that. ‘So, for instance, let’s say someone uses an app and then they say, ‘I just used an application’ and they post that on their status or say, ‘I like this’ or ‘I follow this’. This is something that’s public to the friends of the person putting up that status update. So these are social impressions. If 10,000 did that, put it on their status, you can multiply it by 100 -- everybody has 100 friends. So you actually have a reach of 1m by people sharing information. ‘We measure that on a project-by-project basis. So, take the water footprint app, we can see how many people put that on their status. ‘If you just look at the followers, people might say 5,000 followers is small. But if you can say that 10,000 posted content that will travel through the social network… It’s not a hard number, obviously, but it’s argument.’ Order your copy today, visit www.usefulsocialmedia.com/impact For more information contact reports@usefulsocialmedia.com 5
  • 6. Y DA TO E 00 SAV $3 An invaluable guide to finding and optimising your elusive social media ROI PLUS sophisticated analysis of cross-industry measurement strategies, must-have scorecard metrics and mistakes to avoid Influence If, as Andrew Bruce Smith suggests, there tend to be two approaches to measuring the output of social media investment -- one derived from web analytics, the other from branding and PR -- the measurement of influence certainly traces its lineage to the PR industry. In the pre-web era, influencers were easy to spot: they were typically ‘experts’ (academics, financial analysts, business leaders, columnists). It was partly the job of publicists to influence these ‘experts’, whose opinions would subsequently be amplified by mass media and trickle down toward the broader public. Katie Delahaye Paine, the measurement guru, argues that social media has ‘officially signed the death certificate’ for this model of influence. (Delahaye Paine, 2011) Elite influencers No doubt. But the idea of influence isn’t dead. On the contrary, it has persisted online. As early as 2000, the PR agency Burson Marsteller released the first in a long line of reports on America’s ‘e-fluentials’, which suggested that the opinions of the most vocal and influential consumers were greatly amplified by the web. (Holmes, 2001) ‘Representing 8% of the internet population (about 9 million users), this group influences more people on more topics than other online users. And, they are eight times more effective at communicating their views than Roper’s traditional ‘influentials’.’ From the mid-noughties onward, spurred on by Malcolm Gladwell’s book The Tipping Point, the ability to identify and sell stories to an influential elite of bloggers became a selling point for many PR agencies. (Gladwell, 2001) In 2006, Technorati, the blog search engine, struck up a partnership with Edelman, the PR agency. On the basis of this exclusive arrangement, Edelman promised to guide its clients through ‘a chaotic world of continuous discussion, learning from the crowd and remixed media where companies must cede control to gain credibility’. (Edelman, 2006) Much of Technorati’s data focused on the growth of blogging as a phenomenon. Accompanying efforts to identify ‘top 10’ or ‘top 100’ lists of bloggers were intended to showcase the idea that PR agencies were in a good position to master the dynamics of conversational marketing. Subsequent efforts at measurement attempted to blend this focus on elite bloggers with some acknowledgement of the rapid rise of Facebook and Twitter (frequently referred to at the time as a form of ‘microblogging’). (Brain, 2007) Efforts such as these, which attempt to measure elite influentials, have been repeatedly criticised over the years. Yet this is a meme that persists: Technorati is no longer measuring blog-based influence, but its descendants like PeerIndex have adopted a more sophisticated approach to the same challenge, measuring elite influencers across multiple social channels. (Reichenstein) Watts vs Gladwell: Elite influencers vs random effects Order your copy today, visit www.usefulsocialmedia.com/impact For more information contact reports@usefulsocialmedia.com 7
  • 7. Y DA TO E 00 SAV $3 An invaluable guide to finding and optimising your elusive social media ROI PLUS sophisticated analysis of cross-industry measurement strategies, must-have scorecard metrics and mistakes to avoid By the time Malcolm Gladwell wrote The Tipping Point, the notion of influencers as a driving force behind the adoption of memes had been around for 50 years or so. In his book, Gladwell dusted down the ‘six degrees of separation’ experiment conducted by the sociologist Stanley Milgram in 1967 and contextualised them for a new audience. (Gladwell, 2001) In that experiment, Milgram gave letters to 160 people in Nebraska, and told them to try to send the letters on their way to a stockbroker in Boston with whom they had no personal connection, by sending them to a colleague socially closer to the target. Famously, most of the letters arrived at their destination after passing through the hands of six intermediaries. What Gladwell noticed was the way in which half of Milgram’s letters were delivered to the stockbroker by the same three friends. These individuals were described by Gladwell as ‘connectors’. The rest of us, he argued, are ‘linked to the world through these special few’. Gladwell’s book itself exerted a powerful influence on the way in which marketers started to think about influence at the dawn of the social web. Yet it has also been criticised repeatedly by researchers like Duncan Watts, director of the Human Social Dynamics Group at Yahoo! Research. Watts has argued that Gladwell attributes far too much power to connectors or influencers. Instead, Watts’s experiments emphasise the apparently random way in which memes spread through networks. ‘If society is ready to embrace a trend, almost anyone can start one -- and if it isn’t, then almost no one can,’ Watts has said. As the journalist Clive Thompson noted in 2008, the irony of Watts’s findings is that ‘since you can never know which person is going to spark the fire, you should aim the ad at as broad a market as possible -- and not waste money chasing ‘important’ people’. (Thompson, 2008) For marketers, this raises multiple questions. One of the most important, in the social realm, is this: should marketers place their faith in what Sinan Aral, an assistant professor at the New York University Stern School of Business, calls ‘active personalised messaging’ or ‘passive broadcast messaging’. The former, says Aral, ‘requires more effort and time, which may curtail their use’. The latter ‘may reach more people but may be less persuasive’. (Aral, 2010) Order your copy today, visit www.usefulsocialmedia.com/impact For more information contact reports@usefulsocialmedia.com 8
  • 8. Y DA TO E 00 SAV $3 An invaluable guide to finding and optimising your elusive social media ROI PLUS sophisticated analysis of cross-industry measurement strategies, must-have scorecard metrics and mistakes to avoid The Full Table of Contents Chapter 1 – Social Media: An Introduction What the report 1.1 ow many companies use it? H covers, in detail: 1.2 What do they use it for? • References 1.3 ocial measurement: our survey results S • Contents • Table of figures Chapter 2 – Defining Your Impact: • Executive summary 2.1 ngagement E • Introduction 2.2 nfluence I 2.3 dvocacy A 2.4 entiment S 2.5 quivalence E 2.6 ase study from a leading practitioner C Chapter 3 – Measuring Your Impact (Social Media Metrics) 3.1 How do leading companies measure against the metrics they have set themselves? 3.2 efining the value of a Twitter follower/Facebook fan D 3.3 aid vs free P 3.4 ase studies from leading practitioners C Chapter 4 – Industry Comparables 4.1 nvestment and returns: What are companies spending and getting? I 4.2 taff and budget S 4.3 ifference between b2b/b2c D 4.4 ase studies from leading practitioners C Chapter 5 – The Useful Social Media Scorecard 5.1 he Useful Social Media Scorecard T 5.2 uestions to ask to assess your own social media impact/ROI Q Chapter 6 – Conclusions Order your copy today, visit www.usefulsocialmedia.com/impact For more information contact reports@usefulsocialmedia.com 9
  • 9. Y DA TO E 00 SAV $3 An invaluable guide to finding and optimising your elusive social media ROI PLUS sophisticated analysis of cross-industry measurement strategies, must-have scorecard metrics and mistakes to avoid Key Information: The Report in numbers Pages: Charts: Release Date: 168 30+ July 25, 2011 To pick up your copy of this critical business intelligence report, go to www.usefulsocialmedia.com/impact Remember, buy your copy before August 26 and save $300! Order your copy today, visit www.usefulsocialmedia.com/impact For more information contact reports@usefulsocialmedia.com 10