Measuring not counting, evaluating social media campaigns, with Fran Cassidy - May 2015
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Fran Cassidy reports in the #IPASOCAILWORKS project and shows how to evaluate the ROI of social media campaigns.
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Measuring not counting, evaluating social media campaigns, with Fran Cassidy - May 2015
- 1. Measuring not Counting Fran Cassidy, UK, May 2015 Measuring not Counting Evaluating Social Media Campaigns Fran Cassidy Cassidy Media Partnership 15 May 2015 #NewMR 2015 Corporate Sponsors #NewMR 2015 Supporters Schlesinger Associates Keen as Mustard
- 2. Measuring not Counting Fran Cassidy, UK, May 2015
- 3. Measuring not Counting Fran Cassidy, UK, May 2015
- 4. Measuring not Counting Fran Cassidy, UK, May 2015 ‘58% place “Likes”, “Tweets”, “Clicks” and “CTR” in their Top 5 Marketing ROI KPIs’ “90% of marketers are not trained in marketing performance & marketing ROI” media release 8th April 2014
- 5. Measuring not Counting Fran Cassidy, UK, May 2015 To provide definitive guidance as to the roles that social media can play & how to measure its effectiveness and ROI
- 6. Measuring not Counting Fran Cassidy, UK, May 2015 Marketing Comms Customer Service Customer Insight
- 7. Measuring not Counting Fran Cassidy, UK, May 2015 Marketing Comms Customer Service Customer Insight
- 8. Measuring not Counting Fran Cassidy, UK, May 2015 Now Available....
- 9. Measuring not Counting Fran Cassidy, UK, May 2015 -200+ cases reviewed -35 interrogated by peer review -13 solid cases ( that doesn’t mean that social didn’t work in the others )
- 10. Measuring not Counting Fran Cassidy, UK, May 2015 Seven Key Messages 1. Social is more than marcomms and is challenging organisations
- 11. Measuring not Counting Fran Cassidy, UK, May 2015 Social Media is plural Paid OwnedEarned Whose department is it anyway? Marcomms Dept? Customer service? Insight & Research? Plus HR / Sales / PR / Operations ? “Always on” “Campaign” All of the above!
- 12. Measuring not Counting Fran Cassidy, UK, May 2015 - Retrained existing customer service staff to be multi-service & multi-channel - Necessitated cross-department coordination and communication Use social media to provide real-time updates and customer service across the business KPI : Lost customer hours - Structured shift patterns to be there 24/7
- 13. Measuring not Counting Fran Cassidy, UK, May 2015 Seven Key Messages 1. Social is more than marcomms and is challenging organisations 2. Social is changing the way we measure – its evaluation is more than a dashboard
- 14. Measuring not Counting Fran Cassidy, UK, May 2015 #ICEBUCKET- CHALLENGE Michael Ni, “Transmissibility of the Ice Bucket Challenge”, BMJ 2014
- 15. Measuring not Counting Fran Cassidy, UK, May 2015 MEASLES#ICEBUCKET- CHALLENGE EBOLA < < Michael Ni, “Transmissibility of the Ice Bucket Challenge”, BMJ 2014
- 16. Measuring not Counting Fran Cassidy, UK, May 2015 Social is changing how we measure 2. Empower real-time, adaptive planning 3. Cultural change – from ‘collecting’ to ‘interpreting’ 1. New types of of data
- 17. Measuring not Counting Fran Cassidy, UK, May 2015 Seven Key Messages 1. Social is more than marcomms and is challenging organisations 2. Social is changing the way we measure – its evaluation is more than a dashboard 3. Avoid a siloed approach to social measurement
- 18. Measuring not Counting Fran Cassidy, UK, May 2015 SILOED MEASUREMENT UNDERESTIMATES SOCIAL ROI* BY 16%-50% PAID SOCIAL LEADS TO 25% MORE CONVERSIONS THAN ORGANIC SOCIAL* * Convertro (USA, 2014) * Nielsen (USA, 2013)
- 19. Measuring not Counting Fran Cassidy, UK, May 2015 Measure the journey - Lysol (USA) Source: Reckitt Benckiser; ohal
- 20. Measuring not Counting Fran Cassidy, UK, May 2015 Measure synergy – Creme Egg Only TV Only Facebook Expected Facebook + TV Uplift Factor 1.11 Facebook + TV 1.12 1.25 1.41 Exposure to FB & TV created a 66% greater effect than the sum of its parts Source: Mondelez; Kantar Worldpanel
- 21. Measuring not Counting Fran Cassidy, UK, May 2015 Seven Key Messages 1. Social is more than marcomms and is challenging organisations 2. Social is changing the way we measure – its evaluation is more than a dashboard 3. Avoid a siloed approach to social measurement 4. It is easy to overestimate the value of earned media and influencers
- 22. Measuring not Counting Fran Cassidy, UK, May 2015 Find ‘causation’ not ‘correlation’ 2. Homophily 3. Influencers 1. Reverse causality
- 23. Measuring not Counting Fran Cassidy, UK, May 2015 TV & Twitter UK % of programmes impacted, 2014 11 7 7 7 8 8 9 12 13 30 69 70 51 48 31 71 55 66 Talk Show Comedy Reality Show Drama Game Show Soap Sitcom Entertainment All Causation Correlation Source: Kantar; Mindshare
- 24. Measuring not Counting Fran Cassidy, UK, May 2015 Recommendations • Be pragmatic • Plan in tests & experiments • Think carefully about modelling techniques • Be suspicious
- 25. Measuring not Counting Fran Cassidy, UK, May 2015 Seven Key Messages 1. Social is more than marcomms and is challenging organisations 2. Social is changing the way we measure – its evaluation is more than a dashboard 3. Avoid a siloed approach to social measurement 4. It is easy to overestimate the value of earned media and influencers 5. The commercial value of social will increasingly lie in the richness of its data
- 26. Measuring not Counting Fran Cassidy, UK, May 2015 The potential richness of social data • Using social signals for prediction • Targeting • Customisation • Research/Evaluation
- 27. Measuring not Counting Fran Cassidy, UK, May 2015 Seven Key Messages 1. Social is more than marcomms and is challenging organisations 2. Social is changing the way we measure – its evaluation is more than a dashboard 3. Avoid a siloed approach to social measurement 4. It is easy to overestimate the value of earned media and influencers 5. The commercial value of social will increasingly lie in the richness of its data 6. Social can learn from traditional planning
- 28. Measuring not Counting Fran Cassidy, UK, May 2015 “Social strategy” vs. “strategy” Understand how you can tweak the dials in real-time, informing decisions A clear role and hypotheses for how it will work Stephen King’s Planning Cycle Bake it in from the start (as in other comms planning) Contribution to overall marketing or brand objectives
- 29. Measuring not Counting Fran Cassidy, UK, May 2015 The world’s first home loan rate powered by likes
- 30. Measuring not Counting Fran Cassidy, UK, May 2015 What did ASB want to do? • Business objectives Convert social media activity from being a complementary service channel to a revenue generator, by building a database of warm home loan leads to convert • Marketing objectives - Demonstrate that ASB supports New Zealanders in successfully achieving their goal of home ownership - Use existing ASB customers to advocate loans with ASB through Facebook - Improve sentiment and engagement on Facebook - Demonstrate ASB's continued leadership in innovation. • Target Audience 25-40 First and second time home buyers
- 31. Measuring not Counting Fran Cassidy, UK, May 2015 The Drivers of Liking as perceived by ASB.. • We 'like' brands that offer us the expectation that we will have access to benefits or rewards. • We also share things socially in the belief that it might benefit others and, in turn, hopefully create social capital for us as the sharer. • Sometimes the motivation for this is that it's social cause-related, sometimes it's just for entertainment and sometimes it's just because it's plain useful. • Social media best practice showed that brands should focus on rewarding customers with relevant product benefits, not just freebies and giveaways. A brand that sacrifices something of its own business earns more respect than one simply promoting unrelated merchandise.
- 32. Measuring not Counting Fran Cassidy, UK, May 2015
- 33. Measuring not Counting Fran Cassidy, UK, May 2015 The Campaign • Like Loan was planned to run on four consecutive Wednesdays, with one lucky entrant winning the lowered loan rate at the end of each day, at 8pm. • The winner would then be announced back to the community, and a call to return the following week would be issued. • Priming: Activate our social media advocates and influencers to create intrigue, and start a ripple effect on their respective networks • Launch: Create social scale and participation on the first day of Like Loan • Sustain: Get repeat entrants and more first-time entrants across subsequent weeks.
- 34. Measuring not Counting Fran Cassidy, UK, May 2015 Establish average value of a home loan 4.95% interest (conservative) = 1 year fixed interest rate Revenue generated will be in $ millions
- 35. Measuring not Counting Fran Cassidy, UK, May 2015
- 36. Measuring not Counting Fran Cassidy, UK, May 2015 Seven Key Messages 1. Social is more than marcomms and is challenging organisations 2. Social is changing the way we measure – its evaluation is more than a dashboard 3. Avoid a siloed approach to social measurement 4. It is easy to overestimate the value of earned media and influencers 5. The commercial value of social will increasingly lie in the richness of its data 6. Social can learn from traditional planning 7. Even short-term results need a long-term context
- 37. Measuring not Counting Fran Cassidy, UK, May 2015 The Long and the Short of it - The “money” is in the long term - And long term effects aren’t just aggregation of short term effects - WARC’s Seriously Social 2014 report suggests Social is a potent brand building tool, often used for short-term activation
- 38. Measuring not Counting Fran Cassidy, UK, May 2015 Seven Key Messages 1. Social is more than marcomms and is challenging organisations 2. Social is changing the way we measure – its evaluation is more than a dashboard 3. Avoid a siloed approach to social measurement 4. It is easy to overestimate the value of earned media and influencers 5. The commercial value of social will increasingly lie in the richness of its data 6. Social can learn from traditional planning 7. Even short-term results need a long-term context
- 39. Measuring not Counting Fran Cassidy, UK, May 2015 Seven Key Messages 1. Social is more than marcomms and is challenging organisations 2. Social is changing the way we measure – its evaluation is more than a dashboard 3. Avoid a siloed approach to social measurement 4. It is easy to overestimate the value of earned media and influencers 5. The commercial value of social will increasingly lie in the richness of its data 6. Social can learn from traditional planning 7. Even short-term results need a long-term context We look forward to receiving your case studies : fran@cassidymedia.com
- 40. Measuring not Counting Fran Cassidy, UK, May 2015 Thank You!
- 41. Measuring not Counting Fran Cassidy, UK, May 2015 Q & A Ray Poynter The Future Place Fran Cassidy Cassidy Media Partnership #NewMR 2015 Corporate Sponsors #NewMR 2015 Supporters Schlesinger Associates Keen as Mustard
Editor's Notes
- 1. New types of data. * New, more available, metrics. New ways of understanding not just 'what' happened but also 'how' (& potentially 'why') * Sentiment & text (what people think) * Context & granularity (response to 'real time events') * Network (targeting and how messages spread) * Sample size means that can dig into granularity * [Example?] 2. More real-time fuelling adaptive planning. * more immediate response can fuel real-time planning (fuelling adaptive planning, but across planning functions, so different than digital) * [Networked Insights Example?] 3. Shifting from collecting to interpreting * Shifting the balance from collecting data to interpreting contradictory streams. * [War-rooms / Command Centres]
- Model design is very important when using MMM to measure social. For example, the Nielsen’s Digital Media Consortium has suggested that poorly designed marketing mix models can understate the ROI from Facebook by as much as 48% and from Google search by up to 39% (Neff, 2014). The same study also found that 25% of the value ascribed to paid search should actually be shared with TV, print, or other digital media. One reasons for these sorts of effects is that conventional MMM typically measures short to medium-term response in sales, but advertising often works over the longer term by reinforcing existing habits. If long-term effects are being sought then the MMM needs to be appropriately configured (Cain, 2008).
- Sent personalised “like stamps” to advocates and influencers / Radio promotions/ Experiential – physical display of lowering rate outside key footfall area Took over home page of main bank with live rate ticker / used bank statements / Press / Email / SMS