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This document summarizes key points from a training session on social media measurement: 1. Social advertising spending has grown significantly in recent years but measurement remains a challenge, particularly linking activities to real objectives and ROI. 2. To measure return meaningfully, clear objectives like increasing brand awareness, engagement, or leads must be set first. 3. Social marketers have access to metrics on reach, engagement, and impact through various analytics and tools, but metrics need to be appropriate to objectives and provide useful context benchmarks. 4. Upcoming trends like native advertising and programmatic buying may change how social performance is measured and closed-loop attribution is achieved. Defining clear objectives, focusing on aligned metrics,
IAB Presentation - Template Formatted
- 1. IAB Training SessionSeries WHAT INSIGHTS TO AND WHAT’S AROUND THE CORNER WHAT TO MEASURE, 15TH JULY 2014 • SPEAKER: TIM PHANG TAKE
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- 3. Social advertising attractsbillions of marketing dollars, and a growing % of digital budgets globally 6.9 9.1 11.4 14.1 2012 2013 2014 2015 Social Network Ad Spending, Worldwide (Billions) Source: Barclays Capital, May 2013
- 4. ROI The biggest challengefor social marketers continues to be centered around measurement
- 5. In order tomeasure return in a meaningful way, a clear objective must first exist What does success look like to us? • Uplift in brand awareness? • Increase brand engagement? • Lead generation? • Improve customer satisfaction? • Increase referral traffic to owned assets? • Online discussions from offline activity? and so on ..
- 6. That which ismeasured, improves - Pearson’s Law
- 7. ? What’s availableto social marketers?
- 8. • Unique audiencebeing reached • Audience available organically (fans / followers) What How • Social Platform Analytics • Social Media Management Tools / APIs • Web Analytics What’s available to social marketers - Reach
- 9. • Clicks, Shares,Likes, Comments, Sentiment • Post-Engagement Activity (i.e. page visitation) • Engaged Users What How • Social Platform Analytics • Social Media Management Tools / APIs • Social Listening Tools What’s available to social marketers - Activity
- 10. • Brand metricuplift (recall, awareness, NPS) • Shift in purchase intention • Hard conversions / leads What How • Primary Research • Client-Side Tracking • Social Listening Tools What’s available to social marketers - Impact
- 11. How do wemake social metrics useful??
- 12. Align • Is thismetric addressing our objectives? • Are we set up to measure impact? Making Social Metrics Useful – Ensure appropriateness
- 13. Benchmark • Are weimproving over time? • How does this compare to the industry? • What are platform-level benchmarks? Making Social Metrics Useful - Context is key
- 14. Communicate • How haveother brands succeeded? • How can we leverage unique platform data? Making Social Metrics Useful – Leverage expertise
- 15. Social Marketing -What’s Next??
- 16. Native Advertising Content Marketingcontinues to gain traction with social marketers as a vehicle. How do brands measure the impact of content at all stages of the sales funnel?
- 17. Programmatic How will ashift to programmatic change the performance of social advertising, and close the loop on social measurement?
- 18. Define success –clearly understand your objectives prior to execution1 2 3 Select and focus on metrics that align with marketing objectives Communicate with partners – leverage platform expertise to refine measurement
- 19. Interactive Advertising BureauSingapore, c/o SiTF, 55 Neil Road, Singapore 088892, Singapore admin@iab.sg • www.iab.sg
Editor's Notes
- #2 Cover Page
- #3 Cover Page
- #4 Globally, social platforms are attracting the attention and dollars of brands and marketers .. social is taking an increasing percentage of digital budgets, and as a market, is growing billions of dollars every year – this makes sense, given that social is providing access to an engaged audience, that continues to grow in magnitude
- #5 Despite this investment of both time and money, marketers still struggle with measuring the impact of their marketing activities – their return on social investment. Over time, we’ve seen a shift from fans and followers being the ultimate measure of success, to more sophisticated attribution modeling and branding impact – a product of social’s maturity as a marketing vehicle One of the biggest challenges for new marketers however, is understanding how to measure success on social Why? It’s partially down to not understanding exactly what’s at their disposal by way of metrics, not clearly defining what success looks like to them before making an investment or strategic decision, and selecting metrics that aren’t in alignment with business objectives Bear in mind that social can also help measure the impact of offline activity and overall brand health – remember that social layers in to all of our marketing efforts, as this is where discussions are happening
- #6 So before we even look at metrics and measurement, success needs to be defined. This will directly influence what we look at when trying to understand our ‘return’ on investment Is success an uplift in awareness? An increase in brand engagement? Are we chasing leads, or trying to improve satisfaction? Or are we trying to drive traffic to our website? It seems simple and straightforward, but being clear on our objectives will help us intelligently navigate through the metrics at our disposal
- #7 The great news here is, once we’re clear on our objective – and know what to monitor by way of metrics – we’re setting ourselves up for success. We know where we stand, and can optimise against what’s working, based on our relevant success metrics.
- #8 So what’s available to social marketers currently by way of metrics?
- #9 Our first bucket of metrics are centered around reach – step through what / how
- #10 Secondly, we can track and understand engagement with our social advertising – step through what / how
- #11 Thirdly, we can monitor impact, the traditional lens we look through when seeking to understand ROI – step through what / how
- #12 So those are the metrics at our disposal, how do we make sense of them and ensure what we’re selecting is in fact useful for us?
- #13 Alignment is key. In order for the metrics we select to be useful, we need to ensure they’re in alignment with what we’re trying to achieve from an objectives perspective – if we’re measuring awareness, let’s look at ensuring we reach the audience we care about. Let’s optimise towards what’s helping us best achieve that objective. If we’re looking to change the perception of our consumers, do we have the tools we need to measure that – can we listen to sentiment on social, do we have the resources to run ad effectiveness research or do we need to partner externally?
- #14 Looking through a performance lens – it’s also important to understand how these metrics stack up on a relative perspective. Is our advertising in-line with what is typically seen on a social platform, or are we laggards? Are we improving, or are changes we’re making to content or creative not resonating with our audience? It’s hard to know where there’s room to improve if we have no context, and are looking at metrics in a vacuum – context is key, and we need to be across it The IAB is tasked to help make this process of benchmarking easier for marketers here in Singapore, through the standardization of social metrics, we’re aspiring to create a more comparable measurement environment
- #15 Lastly, leverage the partners you work with Understanding how other brands have achieved what you’re trying to achieve on the platform can help in selecting impactful metrics (how have they measured success?), and sharing with partners your objectives can open conversations on what unique platform data can be leveraged to help you measure as a brand or agency – especially as social platforms begin to diverge in what’s available through self-serve means
- #16 So on a top-line level, that’s what’s at our disposal on social – but what’s around the corner?
- #17 With an increasing focus on native advertising, and content finding a home on social, marketers are looking for answers around how to best measure their content marketing strategies on these platforms – questions remain on how to measure the impact of content at all stages of the sales funnel, how does exposure to content influence the path to conversion?
- #18 And with programmatic entering the social space (such as with Facebook), questions remain on what kind of impact this will have on the performance of social advertising – given that behavioral targeting let’s us better synthesize disparate data sources to deliver relevant messages. Will programmatic help us tell a more insightful story on decision-making, and what do we need to be measuring to tell this story?
- #19 In summary (call out points) ..
- #20 Cover Page