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Social Marketing Analytics
This document introduces a new framework called Social Marketing Analytics for measuring results in social media. It provides a process that helps companies measure, assess and explain the performance of social media initiatives in the context of specific business objectives. The framework begins with defining corporate goals and business objectives, then identifying key performance indicators to measure success. It concludes with implementing specific operational tactics. The framework is designed to minimize confusion and deliver tangible results for social media marketing efforts.
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Social Marketing Analytics
- 1. Social Marketing Analytics ANew Framework for Measuring Results in Social Media A Joint Research Presentation With:
- 2. SOCIAL MARKETING ANALYTICS: A NewFramework for Measuring Results in Social Media @johnlovett @jowyang #SocialAnalytics
- 3. 3 About This Research •A Collaborative Effort • Our Methodology • A Nod To Open Research
- 4. 4 Special Thanks To... •Our co-authors – Charlene Li, Eric T. Peterson, Christine Tran • Our Ecosystem Contributors – Lisa Barone, Connie Benson, David Berkowitz, Blake Cahill, Adam Coomes, Monica Cordina, Bill Gassman, Jascha Kaykas-Wolff, Rob Key, Justin Kistner, Scott Lake, Matt Langie, Alex Mann, Louis Marascio, John McCory, Aaron Neumann, Katie Delahaye Paine, Sean Power, Chris Ramsey, Boaz Ronkin, Shiv Singh, R “Ray” Wang, Alan Webber, Jennifer Zeszut – Alterian SM2, Biz360, Cymfony, Lithium, Omniture, Radian6, Scout Labs, Social Radar StatsIT, SWIX, Trackur, Trendrr, LugIron, Visible Technologies, Webtrends
- 5. 5 The conversation hasshifted off domain Source: Pew Resource Center’s Internet and American Life Project , October 8, 2009
- 6. 6 Facebook is thesecond biggest site in US Source: : Compete.com , January 2010
- 7. 7 50 million tweetsa day on Twitter Source: Twitter, February 22, 2010
- 8. 8 companies are confused Source:http://www.engagementdb.com
- 9. 9 The Big SocialExperiment • Many companies are stumbling blindly into social media marketing without a measurement strategy in place 9
- 10. 10 The Numbers areTelling… • “While 2009 may have been a “trial” run for many brands and social media, in 2010, CMOs expect social initiatives to directly impact their bottom lines, without exception.” • “CMOs reported that 64% of them would increase their social media budgets within the next year.” • In 2009, 89% of CMOs tracked social media's impact by using standard metrics such as site traffic, pageviews, and number of fans. Source: BazaarVoice “CMOs Plan for Higher Social Media Measurability in 2010” December 8, 2009
- 11. 11 ...Still Marketers arePerplexed • Social media vendors and platforms are proliferating at an astounding rate • Solutions exist for every channel • A multitude of choice creates confusion
- 12.
- 14. 14 The Big Payoffis Elusive
- 15.
- 16. 16 • The vastmajority of businesses tracking social media today are using the wrong metrics! • It’s time for a new Social Media Measurement standard.
- 17. 17 Introducing... • Social MarketingAnalytics is the discipline that helps companies measure, assess and explain the performance of social media initiatives in the context of specific business objectives.
- 18. 18 The Discipline Includesa Framework
- 19. 19 Begin with anInside-Out Strategy
- 20. 20 The SMA StrategyIn Practice Corporate Goals Business Objectives Measures of Success Operational Tactics
- 21. 21 The SMA Strategy:Goals •Corporate Goals = Vision •Understand, embrace & support •Socialize goals widely •Leverage motivating factors
- 22. 22 The SMA Strategy:Objectives •Business Objectives = Strategy •Foster Dialog •Promote Advocacy •Facilitate Support •Spur Innovation
- 23. 23 The SMA Strategy:Measures •Measures of Success = Management •Key Performance Indicators… •Provide context •Set expectations •Mandate actions
- 24. 24 The SMA Strategy:Tactics •Operational Tactics = Execution •Specific campaigns •Channel preferences •Closed loop feedback
- 25. 25 Use a MeasurementFramework
- 26. 26 Marketers Need AFramework • A pragmatic approach using metrics derived from sound business objectives • Minimizes confusion about the value of social marketing efforts • And delivers tangible results
- 27. 27 The Framework Beginswith Goals
- 28. 28 ...From Goals StemObjectives
- 29. 29 ...Then Measures ofSuccess
- 30.
- 31. 31 A Social MarketingExample... •Goal •Objective •Measures •Tactics Driving Consideration
- 32.
- 33. 33 Dialog Requires… • Buildingawareness by initiating the conversation • Engaging with individuals to determine their response to ideas, thoughts, products and activities generated by the organization • Responding to individuals on behalf of the brand through genuine interactions
- 34.
- 35. 35 Dialog KPIs inaction • Share of Voice: • Audience Engagement: • Conversation Reach:
- 36. 36 If I WereAt Nike... Share of Voice Conversation Reach Audience Engagement
- 37. 37 Advocacy in aSocial World
- 38. 38 Advocacy Requires… • Encouragingword of mouth activity by promoting and endorsing conversations shared by individuals • Developing relationships with individuals who have an affinity towards the brand • Nurturing existing relationships with customers as a proven method of building advocacy within an easily identified segment 38
- 39.
- 40. 40 Advocacy KPIs inaction • Active Advocates: • Advocate Influence: • Advocacy Impact:
- 41. 41 If I WereAt The National Breast Cancer Awareness Foundation... Active Advocates Advocacy Impact Advocate Influence
- 42.
- 43. 43 Support Requires… • Resolvingservice issues through social media channels via direct company response and crowd-sourcing alternatives • Expediting issue resolution with quality and integrity • Elevate satisfaction through flexible support options
- 44.
- 45. 45 Support kpis inaction • Social Media Issue Resolution Rate: • Resolution Time: • Customer Satisfaction Score:
- 46. 46 If I WereAt Best Buy... Issue Resolution Rate Satisfaction Score Resolution Time
- 47.
- 48. 48 Innovation Requires… • Gatheringcustomer insights via social media channels with a clear mission of identifying market needs and service opportunities • Processing ideas and community feedback as a means to drive products and services requires receptive product managers • Delivering new products and services to the market with credit and acknowledgement to customers
- 49.
- 50. 50 innovation kpis inaction • Topic Trends: • Sentiment Ratio: • Idea Impact:
- 51. 51 If I WereAt Dell... Topic Trends Idea ImpactSentiment Rate
- 52. 52 The Framework Isa Process
- 53. 53 What about theVendors???
- 54. Business Objective KeyPerformance Indicator Vendors to Watch Foster Dialog Share of Voice Alterian SM2, Radian6, Scout Labs, Statsit, Trendrr, Visible Technologies Audience Engagement Coremetrics, Webtrends, Radian6, Scout Labs, Converseon, Filtrbox (Jive), Visible Technologies Conversation Reach Alterian SM2, Radian6, Scout Labs, Social Radar, Statsit, SWIX, Trendrr, Visible Technologies Promote Advocacy Active Advocates Biz360, Filtrbox (Jive), Radian6 Advocate Influence Cymfony, Filtrbox (Jive), Radian6, Razorfish (SIM Score), Telligent, Twitalyzer, Visible Technologies Advocacy Impact Coremetrics, Omniture, Webtrends, SWIX, Telligent Facilitate Support Resolution Rate Filtrbox (Jive), RightNow Technologies, Salesforce.com, Telligent Resolution Time Filtrbox (Jive), RightNow Technologies, Salesforce.com, Telligent Satisfaction Score ForeSee Results, iPerceptions, Kampyle, OpinionLab Spur Innovation Topic Trends Alterian SM2, Cymfony, Filtrbox (Jive), Radian6, Scout Labs, Social Mention, Social Radar, Trendrr, Visible Technologies Sentiment Ratio Alterian SM2, Converseon, Cymfony, Filtrbox (Jive), Radian6, Scout Labs, Social Radar, Trendrr, Visible Technologies Idea Impact Biz360, Cymfony, Filtrbox (Jive), LugIron, Radian6, Scout Labs, Visible Technologies
- 55. 55 Vendors Are AMandatory Component • The perfect social media measurement vendor does not exist • Existing vendors shine at listening, sentiment and trending conversations • Technologies can facilitate data collection in diverse social media, but there are no silver bullets 55
- 56. 56 What about theChannels???
- 57. 57 Specific Channels AreSecondary to Strategy • Find your audience, wherever they may be • Recognize influence above the noise • Promote advocacy and leverage your people
- 58. 58 A New SocialMedia Measurement Playbook is Mandatory • Measure based on specific business objectives • Use Key Performance Indicators to Become a Measurement Hero • Adopt the Social Marketing Analytics Framework and make it your own 58
- 59. 59 Your Prescription ForMeasurement 1. Follow the process: Vision>Objectives>Measurement>Tactics 2. Know that not all channels are equal 3. Define requirements first; then select vendors 4. Develop your social media measurement playbook 5. Make our measurement framework your own
- 60. DON’T BE THIS GUY,OKAY? DON’T BE THIS GUY, OKAY?
- 62. 62 Want to LearnMore?
- 63.