digital summit social media measurement
TRANSCRIPT
#SMResults @kamichat
Measure Social Media Results
Kami Watson Huyse, APR, @kamichat
#SMResults @kamichat
Kami HuyseFounder
zoeticamedia.com
@kamichatHashtag:
#SMResults#DSUM13
#SMResults @kamichat
Only 22% had a strategy that ties analysis back to business objectives. Econsultancy Online Measurement & Strategy Report for 2012
Only 30% are regularly reporting to management. Alterian Annual Survey: How Engaged is One’s Brand?
Fifty-seven percent say “poorly defined success metrics and key performance indicators” were three major obstacles to social media marketing adoption. 2012 B2B Social Media Marketing: A Surge in Adoption
Under-measuring
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• Diagnose: Determine what works and what doesn’t• Prioritize: Build into planning, make decisions• Evaluate: Demonstrate ROI, Business Value
Diagnose Prioritize Evaluate
Purpose of Measurement
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Industry Standards
• The Barcelona Declaration of Measurement Principles.
• Valid Metrics Framework for Public Relations
Measurement
• Coalition for Public Relations Research Standards
• The #SMM Standards Conclave
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Awareness Knowledge Interest Support Action
Public Relations Activity
• Content creation (e.g. assets created, videos/podcasts)
• Social media engagement (e.g. blog posts, blogger events, blogger briefings, Twitter posts, community site posts & events)
• Influencer engagement
• Stakeholder engagement
• Events/speeches
Intermediary Effect
• Impressions/Target audience impressions
• Earned media site visitors/day
• % share of conversation
• Video views• Prominence
• Key message alignment [traditional & social media]
• Accuracy of facts• % share of
conversation
• Expressed opinions of interest
• Social network Followers
• Retweets/Shares/ Linkbacks
• % share of conversation
• Endorsement by journalists or influencers
• Rankings on industry lists
• Expressed opinions of support
• Social network Fans• Likes
Target Audience Effect
• Unaided awareness• Aided awareness• Owned media site
visitors per day• Social network
channel visitors
• Knowledge of company/product attributes and features
• Brand association and differentiation
• Relevance of brand (to consumer/ customer)
• Visitors to website• Click-thru to site• Time spent on site• Downloads from site• Calls• Event/meeting
attendance
• Attitude uplift• Stated intention to
buy• Brand preference/
Loyalty/Trust• Endorsement• Requests for quote• Links to site• Trial
Social/Community Engagement
12NOTE: Within social media, several of these metrics could straddle two rows as an Intermediary Effect and/or Target Audience Effect, depending on who’s engaged in the conversation. For simplicity, we have listed those metrics under Intermediary Effect to reflect the general conversation as you would not know if all participants are in your target audience. If the commenters are known to be in your Target Audience, you could reflect those metrics under Target Audience Effect.
• Active advocates
• Brand engagement
• Leads/sales
• Revenue
• Market share
• Cost savings
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1. Set measureable objectives2. Choose your metrics3. Choose tools4. Implement5. Analyze and Present6. Adjust and Repeat
6 Steps to Measurement
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Set Measureable Objectives
SMART Objectives–Specific
–Measurable
–Attainable
–Results-Oriented
–Time Bound
http://bit.ly/SMARTObjectives
STEP 1
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Goal vs. Objectives
Goal:Increase registration for this year’s conference
SMART Objective:By two monthsT prior to the event, over 100 peopleS will have registered using the “friends of online influencer” codeM and we will be 15 percentR ahead of usual registration numbersR.
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Ask…1. Why? 2. Why? 3. Why? 4. Why? 5. Why?
What Are Your Key Performance Indicators
Photo Credit: http://www.flickr.com/photos/haley8/243182310/in/photostream/
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Choose Your 5A Metrics
Activity
Attention
Awareness
AttitudesActions
STEP 2
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You need Activity
To get Attention
Which brings Awareness
Which cultivates Attitudes
Which leads to Actions
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5 A’s Metric Ideas
Activity Activities to reach community and their networks
Attention Traffic, Views, Followers, Fans, Reach
Awareness Share of Discussion, Shares, Retweets, Mentions, Messages Shared, Blog Posts
Attitudes Sentiment, Satisfaction, Surveying (Net Promoter Score, Relationship Survey, etc.)
Actions Financial Sales, Revenue Events, Correlations
Customer Value of Fans and Followers, Customer Lifetime Value
Process Channel Cost Per Lead, Value of Leads
Innovation New Ideas Adopted, Employee Turnover
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5 As Cumulative Effect
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Measurement PlanThis is a sample spreadsheet format you can use to set your measurement objectives and add the tactic, metrics and tools you will use.
SMART OBJECTIVES
TACTICS TYPE METRICS TOOLS
By two months prior to the event, over 100 people will have registered using the “friends of online influencer” code and we will be 15 percent ahead of usual registration numbers.
Offer code to online influencers via email, Twitter and Facebook
Activities Track # of outreach attempts, build list of influencers and stats
InkybeeExcel Spreadsheet
Attention Track # of open and clicks in emailTrack unique URLs
MailChimpGoogle Analytics
Awareness Track questions and comments in social channels
Hootsuite
Attitudes Cross tab satisfaction and likelihood to attend again against code users
RegistrationSurvey
Action Track number of unique influencer codes used
Registration System
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Activity
Is all about what YOU do:
• How many posts?• How many comments?• How many tweets?• How many connections?• Avg. response time?
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Sample Activity Report
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Attention
Is all about Reach or Opportunities to See
• Visits• Potential reach• Demographics• Click throughs
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Social Networks
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Competitive Benchmark
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Click Throughs
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Awareness
Is all about engagement (with you)…
• Do they LIKE or comment?• Are they mentioning you?• What is your share of voice? • How often do they visit?• Who is referring?• % of followers engaged?
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Pure Michigan Site Survey
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Average PTA (Facebook)
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Attitudes
It’s all about their conversation (about you)…
• What is the sentiment?• Are they committed?• Are they satisfied?• Would they recommend?
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Sentiment “Harlem Shake”
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Search + Brand
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Pre and Post Survey
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ActionsIt’s all about what they actually do (rather than say)…
• What are the financial results?• What is the value of customers?• How are processes impacted?• What innovations emerge?• What about ROI?
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FinancialSales
Revenue EventsCorrelation and Regression
CustomerCost of Support
Average Lifetime ValueImpact on Value
ProcessLeads and Closing
FulfillmentChannel Success
InnovationNew Ideas Adopted
Employee Turnover RateEmployee Satisfaction
Results
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ROI measures how effectively an organization is using its resources to generate a financial profit.
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Revenue Events
Objective:Increase registration for this year’s conference
SMART Objective:By two months prior to the event, over 100 people will have registered using the “friends of online influencer” code and we will be 15 percent ahead of usual registration numbers.
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Calculating Revenue Events
Ticket price $150x100 sold
$15,000 -$2,500 costs
NET: $12,500/15,000 = .83 x 10083% ROI
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Cost Per Lead
• Webinar Activities: – Write a blog post about the webinar– Put a short post on LinkedIn with a link to the
blog post– Tweet the link to the blog post
• Cost: $150 (Salaried employee)• Return: 100 leads
– Avg. cost of a digital lead $40 x 100 = $4,000
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Channel Revenue Tracking
Channel Visits YTD Visits Revenue YTD Revenue
$/Visit
Facebook 3,390 9,236 $ 2,433.00 $ 4,025.00 $ 0.72
Blog 357 1,282 $ 56.00 $ 56.00 $ 0.16
Twitter 41 250 $ 8.00 $ 8.00 $ 0.20
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Customer Lifetime Value
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Track Value by Keyword or Visit
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Anas Younes, MD: LymphomaMD Anderson
Problem: Too Few people signing up for clinical trials
Objective: Build reputationAnd clinical trial base to
sustainable levels, at least double
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Results
• 18 months quadrupled patients in clinical trials
• “Go-to” resource for info about lymphoma, thought leadership
Small but motivated following of patients and other medical professionals - 913 followers, 3,000 fans/LIKES
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Compare CostCampaign:•Online Campaign Only•Influencer Outreach
Results:•Cost per impression- Television: $1- Social Media: $.22
•ROI$2.6 million in revenue- How did you hear?- Why did you visit?- Revenue per visitor
http://bit.ly/JTAResults
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Talent Acquisition LinkedIn
• Unqualified Resumes• Recruiter Fees• Expatriate CostsLink Humans by Laurent Brouat
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Easy Correlations Calculation!Correlate Share of Discussion to Results (Leads)
TimePeriod
1Period
2Period 3
Period 4
Period 5
Period 6
SoD % 10.5 14.5 19.5 19.0 10.0 50.0Leads 4 6 45 50 30 15Correlation -0.05 -0.28 -0.69 -0.68 -1
In an empty cell, enter the cell numbers of the starting and ending values in each row like this: =Correl(B2:G2,B3:G3)
Hit enter … and it returns a correlation of r = .547.
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Regression Analysis
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Choose Your ToolsSTEP 3
Listen Engage Measure
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socialmediaanalysis.com/directory/@smanalysis
A global reference to the hundreds of companies that offer products and services
for listening to what people are saying in social media. Currently at 409 listings.
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Listening Tools
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Engagement Measurement Tools
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Proprietary Frameworks
Influence Tools
KRED
And more…
1st Generation 2nd Generation 3rd Generation
SCORE SEESAY
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Relationship Mining:NextGen Influence
http://www.tellagence.com
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Unstructured Data Mining(Big Data)
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Analytics ToolsYour Site
Competitors
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Analysis Tools
DIY: Multi-Channel Attribution Spreadsheet
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Tool Links
• Listening: http://ow.ly/hVl3P • Engagement: http://ow.ly/hVlgJ• Influence: http://ow.ly/hVlm3• Data Mining: http://ow.ly/hVlyp• Analytics: http://ow.ly/hVlCK• Analysis: http://ow.ly/hVlMC
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Recommended Reading
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Kami HuyseZoetica, CEO
zoeticamedia.com@kamichat
Links for this presentation:www.slideshare.net/kamichat