Measuring Social: Fact or Fiction
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The rise of Social Business is seeing Social Media spread across the Enterprise. But does this make it more challenging to show Social Media ROI? We’ll show you what you can and should measure, including social media’s effects on your onsite conversions, and more importantly how social media contributes to your core business objectives.
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Measuring Social: Fact or Fiction
- 1. Measuring Social: Fact or Fiction? Rylan Holey, EMEA Partner Manager @holeytonal
- 2. Rylan Holey EMEA Partner Manager @holeytonal rylan.holey@hootsuite.com
- 3. HootSuite: Empowering the Social Business COLLABORATION SECURITY ANALYTICS ENGAGEMENT
- 4. Percentage of total marketing budget spend on Social Media 18.00% 16.00% 14.00% 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% 15.80% 9.10% 6.60% Current Levels Next 12 Months In next 5 years The CMO Survey, The Fuqua School of Business, Duke University, August 2013
- 5. “Half of all firms haven’t been able to show the impact of social media on their business” The CMO Survey, The Fuqua School of Business, Duke University, August 2013
- 6. Social is more than Marketing
- 7. James
- 8. Social should be a resource
- 11. C-SUITE SALES SUPPORT Strategy/Goals Social Policy Workflows Compliance Foundations Security Social Analytics Access: Web/Mobile MARKETING HR R&D IT
- 12. C-SUITE SALES SUPPORT Strategy/Goals Social Policy Workflows Compliance Foundations Security Social Analytics Access: Web/Mobile MARKETING HR R&D IT
- 13. C-SUITE CRM MARKETING Strategy/Goals Social Policy Workflows Compliance Foundations Security Social Analytics Access: Web/Mobile WEB ANALYTICS R&D IT SUPPORT CUSTOMER SERVICE PLATFORM MARKETING AUTOMATION SALES HR
- 14. THOUGHT LEADERSHIP EXECUTIVE PROFILES C-SUITE CRM WEB ANALYTICS R&D IT TECH LEADERSHIP INFLUENCER COMMUNITY HR MARKETING AUTOMATION INTERNAL SOCIAL NETWORKS DEMAND GENERATION PERSONAL ACCOUNTS Security Social Analytics Access: Web/Mobile WEBSITES Foundations INTERNAL SOCIAL NETWORKS MARKETING Strategy/Goals Social Policy Workflows Compliance SUPPORT CUSTOMER SERVICE PLATFORM PERSONAL COROPORATE ACCOUNTS SALES
- 15. Social Business Needs You!
- 16. Why you? • Understand the Value • Social Media Savvy • Data driven
- 19. Social Media Measurement must be aligned to your core business objectives
- 20. The Social Data Triangle Core Objectives • ROI • Brand awareness • Customer retention Social Measurement • Followers • Engagement • On site conversions Implementation Social Business Strategy • Social Relationship Platform • Website Analytics • Deep Listening • Customer Service • Social Selling • Social Marketing • C-Suite
- 21. “…focus on social ROI has led to improved strategies around content, tone, customer service and internal ownership.” Social Media Management Systems Buyer’s Guide 2013 – Econsultancy, Februrary 2013
- 22. What data is important?
- 23. “Four out of five consumers would be more inclined to buy a brand more often in the future after being exposed to its social media presence” IAB Social Media Effectiveness Research July 2013
- 24. Brand Awareness/Share of Voice
- 25. “100% of business decisionmakers use social media for work purposes” The Social Behavious of your B2B Customers, Forrester, 17 July 2013
- 26. Brand Reputation
- 28. “There needs to be proof of leads generated…highlighting the need for integration with a company’s existing CRM system.” Social Media Management Systems Buyer’s Guide 2013 – Econsultancy, Februrary 2013
- 29. Lead generation
- 30. Revenue
- 31. Takeaway • Align social to business objectives • Show ROI • Simplify your data collection • Support Social Business
Editor's Notes
- Digital Marketer and Former Hootsuite Enterprise and Webtrends Customer.No work with Hootsuite’s Solution Partners who are Agencies, Consultants, Software Providers and Technology Resellers to help them advise their clients best on HootSuite and Social Business.
- 5 YearsBorn out of an agencyNearly 8 Million users worldwideFree, Pro and Enterprise versionEnterprise clients include The Cabinet Office, The Foreign Office, Virgin, IBM, Panasonic, Pepsico and TFLIt’s all about providing these into one dashboard – and importantly providing an infrastructure to allow your business to become social.
- More money going into social Source:http://www.cmosurvey.org/results/
- But – people do not know how to show the impact on their business.
- We all know social works for marketing
- In most companies there is a James. James is “The Social Guy” of the company. Others may also have social touchpoints but James has grasped the huge potential social has to offer and has probably had some success with social within his limited remit.
- Most companies have very controlled communications strategies and brandBut not much around Social Media
- Like letting employees use hotmail or gmail for company email communication with social media. Everyone is using it – but there is little structure or guidance
- As with Phones, Internet and Email we’re finding that companies are coming to a point where they are all social
- You start with the Fundamentals. It all started with Marketing and then closely by SupportYou now see other departments getting involved.
- - Add in all departments and the need for coordination across departmentsEnter the C-Suite (Leveraging their influence in the market)Social has until recently been accomplished separate from all existing systemsWe now see the need to connect the existing workflows to social
- - Add in all departments and the need for coordination across departmentsEnter the C-Suite (Leveraging their influence in the market)Social has until recently been accomplished separate from all existing systemsWe now see the need to connect the existing workflows to social
- At buildout, a Social Organization includes all departments and employees in an organizationIt fosters and manages a coordinated effortIt’s workflows tie into the existing processes and systems currently deployed
- Your role as a Digital person needs to be able to support that organic growth.Image courtesy of http://www.flickr.com/photos/paperdollimages/
- Behind the calm is a massive amount of data that needs to be collected, analysed and actioned upon to constantly improve performanceImage courtesy of http://www.flickr.com/photos/traftery/4773457853/
- The first rule of Fight Club is. Don’t tell anyone about Social Media ROI [Kidding].
- Actually this is the first rule…
- You must start with a social business strategy which has policy and guidelines so people across your organisation know how to use social on behalf of your companyIn order to implement your strategy you will need technology which you can scale across an organisation and provide the infrastructureYou then need to measure those activities and fine tune your socialThese social analytics need to feed your core objectives – and you need to realign your strategy constantly to ensure that your social is meeting your core objectivesWHAT YOU Should measure
- If you focus on your core business objectives – your social metrics will also improve
- There is a lot of data out there that you can gather from Social – but you really need to think about what is relevant to your core business objectives.
- Source: http://www.iabuk.net/research/library/iab-social-media-effectiveness-research
- To increase touch points with your brand, you need to look at followers, engagement, clicks and mentions by influencers.Look at how you are doing across all your branded accounts with aggregate reporting. You can also start benchmarking interactions with influencers, try and get more of them to talk about your brand.
- Source: http://www.forrester.com/The+Social+Behaviors+Of+Your+B2B+Customers/fulltext/-/E-RES99721
- If 100% of business decision makers are looking at your brand online – you should be looking at sentiment analysis and also go into deep listening. People will find you online and more importantly find what your customers are saying about you online.
- Make sure social is being used properly by your teams and incite your team’s sensitive nature. Also ensure your customer service is efficient on social with team analytics.
- Lead generation – integrations with Salesforce.com, Sugar CRM and Nimble. You can measure how social is contributing to your pipeline.
- Show the affect of social onsite with the Webtrends and Hootsuite Integration. Measure which messages, hour, team member is most effective in driving revenue, leads or downloads.