Social Media Analytics - social3i - August2010


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Analytics Presentation from "Social Media Strategies" workshop delivered by Andy Boyer and Xavier Jimenez at the School of Visual Concepts in Seattle.

Social Media Analytics - social3i - August2010

  1. 1. Section 4:<br />Measurement Best Practices, Some Tools, Examples & Case Studies <br />
  2. 2. Measurement Best Practices<br />First rule of Analytics = If you are in a hurry…slow down…and make sure you are asking the right questions.<br />Social Monitoring Tools<br />Second rule of Analytics = Make sure everyone in the organization is “on board” with performing S.M.A.R.T. measurement <br />Human Powered Analysis<br />“I see a lot of peoples time get “chewed up” in Cycles where they have no time to do anything but reporting. One of the things about analysis is it takes some pretty detailed, focused time where you can sit in front of a computer and really work with the tool and work with the data. “ <br />- Gary Angel, President Semphonic<br />Third rule of Analytics = Reliance on tools, is a rookie mistake and often fuels analysis paralysis…<br />
  3. 3. Digital measurement takes time<br />Don’t put unrealistic expectations or conditions on yourself or your team<br />The realistic goal:<br /><ul><li>Methodical
  4. 4. Predictable
  5. 5. Scalable</li></ul>Programmatic<br />Complexity<br />Start here: Benchmark strategic focus areas and pick a few fun projects<br />Beware the endless cycle of testing that prevents you from scaling your results<br />Experimental<br />Novice<br />Expert<br />Maturity<br />
  6. 6. Social Measurement Tools & Technologies<br />
  7. 7. Social IntelligenceTools<br />The new field of "Social Intelligence" uses highly specialized tools to collect, cleanse, catalog, analyze and report on conversations happening on the social web. <br />Social Metrics count activity and measure Impressions, Buzz & Sentiment. <br /><ul><li>Fans on social sites
  8. 8. Social brand mentions
  9. 9. Tweets/Blog entries
  10. 10. Rants vs. raves</li></li></ul><li>Some tools we’ve used<br />
  11. 11. OUR POV: Radian6 – Best for the Enterprise<br />Pros: Largest company reviewed by Forrester. <br /><ul><li>Easy to use widget based dashboards
  12. 12. Real-time data can be configured to listen and respond to UGC posts as they happen.
  13. 13. Tracks established social media KPI’s (volume, engagement and sentiment) with automated workflow tools to turn this data into action.
  14. 14. Allows multiple users to immediately engage with important conversions via the engagement dashboard.</li></ul>Cons: Data quality has some serious issues. <br /><ul><li>Spam hygiene requires significant time investment by the tool operator
  15. 15. Scoring of sentiment in twitter has known defects* that have yet to be addressed in the latest version of this tool
  16. 16. Volume based pricing can make this tool expensive for novice users.</li></li></ul><li>Our POV: Alterian – Best for Midsized Companies<br />Pros: One of the largest data sets among all tools, and a dashboard built for Analysts. <br /><ul><li>Data warehouse has nearly 4 Billion conversations indexed as far back as 2004
  17. 17. Dashboard built for analysts to do both qualitative and quantitative analysis.
  18. 18. Customizable sentiment dictionary allows for the most accurate sentiment tracking of all NLP based tracking tools.
  19. 19. Email reporting capabilities are good.</li></ul>Cons: Data latency concerns and workflow tools require custom configuration to be impactful.<br /><ul><li>Volume based pricing can make this tool expensive for novice users.
  20. 20. Workflow tools are complicated to configure
  21. 21. Customer support services are slow to respond.</li></li></ul><li>Our POV: Lithium – Best for Small Companies<br />Pros: Decent coverage at a reasonable cost<br /><ul><li>Dashboard collects data in real time.
  22. 22. Excellent video capture data
  23. 23. Email reporting capabilities are good.
  24. 24. Flat fee pricing as low as $250/month for unlimited search results.</li></ul>Cons: Workflow tools are not powerful enough for engagement<br /><ul><li>Facebook data not available yet (coming in September)
  25. 25. Twitter data is incomplete </li></li></ul><li>Our POV: Viral Heat – Runner up (small company)<br />Pros: Low price/ decent service<br /><ul><li>Uses data aggregators to do a better job than google alerts
  26. 26. Dashboard built for quantitative analysis.
  27. 27. Email reporting capabilities are good.
  28. 28. Pricing as low as $9.99/month</li></ul>Cons: Data latency concerns and workflow tools require custom configuration to be impactful.<br /><ul><li>Can’t go back in time
  29. 29. Workflow does not empower engagement
  30. 30. Customer support services are slow to respond.</li></li></ul><li>Shoestring Dashboard<br />Pros: Free/low cost tools, widgets and time can get you 70% of what paid tools provide for less than 30% of the cost.<br /><ul><li>Free Buzz monitoring tools are plentiful
  31. 31. Low-cost dashboard and widget based tools can organize, filter and present large amounts of data quickly
  32. 32. Major social channels can be monitored effectively using elbow grease.</li></ul>Cons: Lacks the coverageand analytical power of paid tools<br /><ul><li>Free tools do not the entire social web
  33. 33. Free tools do not provide deep analytical capabilities
  34. 34. Free tools do not integrate workflow for engagement purposes</li></li></ul><li>Creating a Measurement Plan<br />
  35. 35. The Measurement Brief<br />1<br />2<br />3<br />Start with a business question, problem, issue or opportunity<br />From that question, set clear and simple Business Objective(s)<br />Define Goal(s) designed to achieve objectives<br />Your Strategies must support goals<br />Your Metrics for measuring success should be (S.M.A.R.T)<br />4<br />
  36. 36. Measurement program example<br />
  37. 37. How to plan – Be scientific<br />The good measurement plan should be:<br /><ul><li>Methodical
  38. 38. Predictable
  39. 39. Scalable
  40. 40. Habitual</li></li></ul><li>Example – Acme Sunscreen<br />An organic sunscreen manufacturer wants to use social media to drive new online visitors and increase brand awareness.<br />Listen<br />Objective = Identify Top social media locations based on volume of organic sunscreen conversation<br />Goal = Identify Key metrics that can be used to evaluate engagement opportunity<br />Research using the 7-day free trial from RADIAN6 found over 500 highly relevant blog conversations.<br />Key Learning from Radian6:<br />Blogs sending traffic to your site include mommy blogs, where site discussion is highly on topic and there are specific mentions of organic sunscreen products which are increasing in frequency over the last 30 days.<br />Overall Brand mentions were mostly neutral, (82%) but 16% positive and only 2% negative for the period.<br />
  41. 41. Example – Acme Sunscreen<br />Hypothesize<br />Research shows mothers sharing information, on blogs, about your chemical-free sunscreen products and conversation is highly focused on “fragrance”.<br />Hypothesize that a highly focused and product specific outreach campaign, on the top 20 mommy blogs, promoting your products may find success in this community.<br />
  42. 42. Example – Acme Sunscreen<br />Track<br />Configure web analytics tools to track the “pass-along” and conversion of your brand’s social content via tweets, blog posts, Facebook postings etc. <br />Determine which content and what source is driving the most desired behaviors.<br />Compare earned media cost per action to paid media.<br />
  43. 43. Example – Acme Sunscreen<br />Test<br /><ul><li>Test seeding offers of 20%-off the sunscreen on the mommy blogs where the discussions are taking place.
  44. 44. Display Buys
  45. 45. Personal “on-topic” and relevant engagements</li></ul>Buy ACME sunscreen & win a ride on this unicorn!<br />
  46. 46. Example – Acme Sunscreen<br />Learn<br /><ul><li>If you find success, re-test creative that is platform and media specific as well.
  47. 47. Ex. create a Twitter promotion:
  48. 48. Identify top Re-tweeters
  49. 49. Track CTR using urlshorteners
  50. 50. Identify top LP’s
  51. 51. Compare cost per action to paid media</li></ul>Moms: Get 20% off the only truly chemical-free sunscreen this week only. <br />
  52. 52. Example checklist of well executed measurement <br />For online businesses:<br /><ul><li>Measure causal actions (activities, transactions).
  53. 53. Measure the change in traffic over time and whether the ratio of “organic traffic” changes in relation to other social media activity.
  54. 54. Compare change in social traffic to other channels. </li></ul>For offline businesses:<br /><ul><li>Focusing on “softer metrics” like achieving greater brand awareness, customer advocacy and content ‘pass-along’.
  55. 55. If you get sales that don’t come directly from the web, like from CSR’s, look to co-relate factors that align with long term business success.</li></ul>Example: changes in the top ten questions CRS spend time on and whether this increases or decreases CSR efficiency.<br />
  56. 56. Measurement Case Studies<br />
  57. 57. Case Study – Naked Pizza<br /><ul><li>Naked Pizza a New Orleans pizza takeout and delivery restaurant with a mission to make an unhealthy and popular fast food healthier, more nutritious, and better tasting!
  58. 58. Naked Pizza has annually revenues of over 1 Million and has a significant twitter presence according to co-founder Jeff Leach.
  59. 59. Leach posts up to 15 times a day and said his company is primarily using Twitter to market to an area with a 3 mile radius.</li></ul><br />
  60. 60. Case Study – Naked Pizza<br /><ul><li>Naked Pizza has a sustained 20 percent of sales dollars coming from its Twitter presence. 
  61. 61. They use Google Analytics to monitor their website activity and determine which pizza’s are best sellers to its online audience which drives a significant portion of its total business
  62. 62. By aggressively measuring its most profitable channel, Twitter, it has made such a difference for Naked Pizza that they removed the “call for delivery "billboard in front of the restaurant and changed it to “twitter – follow us for specials –”
  63. 63. Jeff himself has said, about his sign, “I didn’t do it to get TechCrunch talking, I did it to reach the 35,000 people who drive by the store every day.”
  64. 64. 20% of total sales from twitter
  65. 65. Set a one day sales record of 65% of sales from Twitter
  66. 66. 85% of new customers from Twitter</li></li></ul><li>Case Study – Pink Cake Box<br /><ul><li>Pink Cake Box is a specialty baker in New Jersey that specializes in custom wedding cakes, cupcakes and cookies always made with an individual flair.
  67. 67. PCB has over ten talented cake decorators and bakers and employees who are committed to their ever growing community of returning customers.
  68. 68. In order to stay connected to their customers, PCB employees blog, post videos and images of their cakes on Twitter, Facebook, Flickr and YouTube.
  69. 69. As a result of very small but focused marketing budget they’ve been on the Rachel Ray show, Food Network and CNN Headline News.</li></li></ul><li>Case Study – Pink Cake Box<br /><ul><li>PCB measures and manages blog performance using Google Analytics
  70. 70. Initially they placed an emphasis on traffic, which worked, but they quickly reached a saturation point where high traffic started contributing to a deluge of “information seekers”.
  71. 71. PCB didn’t have the capacity to handle this deluge and realized that the “more traffic the better” mantra needed to be refined.
  72. 72. They began focusing content on products that lead to better order conversions and focused our measurement on traffic from our strategic focus areas.
  73. 73. Use blog to offer a constant stream of new cakes, contests, & videos.
  74. 74. Over 2000twitterfollowers and 4700facebook fans.
  75. 75. The blog sees about 120,000 visits per month and drives a majority of custom cake orders.</li></li></ul><li>Questions?<br />
  76. 76. Real Life Case Study – Teatro Zinzanni<br />
  77. 77. In Class Projects<br />