the bleeding edge of social media measurement
TRANSCRIPT
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The Bleeding Edge of Social Media Measurement
Kami Watson Huyse, APR, @kamichat
Some rights reserved by Stéfano Obregón
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Kami HuyseFounder
zoeticamedia.com
@kamichat
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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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Where Measurement Starts
SMART Objectives–Specific
–Measurable
–Attainable
–Results-Oriented
–Time Bound
http://bit.ly/SMARTObjectives
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The Things We Measure
Activities
Attention
Awareness
AttitudesActions
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Activities
Are all about YOU:
• How many posts?• How many comments?• How many tweets?
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Attention
• How many visits?• How many fans?• How many interactions?• Estimated reach• Demographics
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Awareness
• Do they LIKE or comment?• Are they mentioning you?• What is your share of voice? • How often do they visit?• Who is referring?
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Attitudes
• What is the sentiment?• Are they committed?• Are they satisfied?• Would they recommend?
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Actions• 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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Define ROI
What is ROI?
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ROI DefinedReturn on Investment (ROI) is a measure of a company’s profitability, equal to a fiscal year’s income divided by equity and long-term debt; and, ROI measures how effectively the 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
Ticket price $150x100
$15,000 -$1,000 staff time and outreach
NET: $14,000
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Balanced Scorecard: Beyond ROI
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Financial
Customer
Process
Innovation
4 ways to Measure SMResults
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FinancialSalesRevenue EventsCorrelation and Regression
CustomerCost of SupportAverage Lifetime ValueImpact on Value
ProcessLeads and ClosingFulfillmentChannel Success
InnovationNew Ideas AdoptedEmployee Turnover RateEmployee Satisfaction
Results
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Financial
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Revenue Impact of a 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• Return: 100 leads
– An average cost of a digital lead $40 x 100 = $4,000– OR track actual conversions for true ROI
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The control case
Isolate the variables– Audience segmentation– Timing or location segmentation– Message segmentation– A/B Testing
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Channel Revenue
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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Multi-Channel Attribution
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Types of Attribution
• Last Click Attribution• First Click Attribution• Multi-touch Attribution
Source: Avinash Kaushik
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Source: Adobe Digital Index
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Source: Adobe Digital Index
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Source: Adobe Digital Index
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Source: Case Study by Edgewater Technology Using WebTrends
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Predictive Analysis
Some rights reserved by queercatkitten
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Correlations
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Immigration: 1800-2000
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Regression Analysis
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Finding a Proxy
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Tweets and Hollywood HSX
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Exposure = AwarenessFollowers = Results
Klout = Influence
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Analysis Tools
DIY: Multi-Channel Attribution Spreadsheet
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Customer
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Pure Michigan Site Survey
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Customer Lifetime Value
Source: Avinash Kaushik
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Segment by Channel
Source: Avinash Kaushik
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The REAL Value
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Influence Tools
KRED
And more…
1st Generation 2nd Generation 3rd Generation
Proprietary Frameworks
SCORE SAY SEE
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Relationship Mining:NextGen Influence
http://www.tellagence.com
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Process
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Social Lead Cultivation
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Monitoring For Leads
“strategic” “marketing” “research” “metrics” “clients”
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Unstructured Data Collection
Source: Lead Confidential
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Unstructured Data Collection
Source: Lead Confidential
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Data Collection Tools
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Anas Younes, MD: LymphomaMD Anderson
Problem: Too few people signing up for clinical trials
Objective: Build reputationAnd clinical trial base
Results: Quadrupled clinical trial patients
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Revenue and CostCampaign:•Online Campaign Only•Influencer Outreach
Measurement:•Impressions•Survey
Results:•Cost per impression
• Television: $1• Social Media: $.22
•ROI$2.6 million in revenue http://bit.ly/JTAResults
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ConversionPeople: PR professionals and social media consultants looking for inexpensive monitoring solution for clientsObjective: 5,000 registered users, 500 users to repeat weekly usage and 50 paying customersStrategy: Reach out to 10 top-tier bloggers, and send out press releaseResults: 102,394 unique users, and 7,874 registered users over 1 week post launch
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•Launch:January 2009
SOLD:February 2010
$4 million SOLD!
Some rights reserved by affiliatesummit Some rights reserved by shelisrael1
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Track Value by Keyword or Visit
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Innovation
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Generate Ideas
• Over 17,882 ideas submitted• 738,848+ votes• 96,881+ comments• 515+ ideas implemented
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Recruiting
Source: ROI of Social Media
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out of8 10
Demo-tivated
Work Around
Leave0%5%
10%15%20%25%30% 26%
14%
3%
Limiting Social Media
Social Media in the Workplace
21%
79%
Turn Down Job 21%Take Job 79%
Trust is more important than $$
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Talent Acquisition LinkedIn
• Unqualified Resumes• Recruiter Fees• Expatriate CostsLink Humans by Laurent Brouat
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Measurement Requires Data
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Set Up Your Analytics
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Analytics ToolsYour Site
Competitors
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Monitoring Tools
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Social Network Measurement
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Data Collection Tools (CRM)
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Recommended Reading
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http://scr.bi/AAAMeasurement
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Kami HuyseZoetica, CEO
zoeticamedia.com@kamichat
Links for this presentation:http://www.diigo.com/
list/kamichat/mpb2bpreso