what you're missing in social media measurement, presented by nichole kelly
DESCRIPTION
In her Brands-Only Summit Pre-Conference presentation, Social Media Explorer's Nichole Kelly discusses why it's actually very easy to measure social media ROI. She shares a shortcut that will change everything and an actionable framework to get to bottom-line results quickly.TRANSCRIPT
SOCIALMEDIA.ORG/SUMMIT2014ORLANDOOCTOBER 27–29, 2014
What you're missing in socialmedia measurement
NICHOLE KELLYSOCIAL MEDIA EXPLORER
What You’re Missing in Social Media Measurement
Nichole Kelly, CEO, SME Digital
What’s holding us back from measuring social media ROI?
Twitter: @Nichole_Kelly
We’ve zoomed in too far
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We’re measuring a single channel world
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Can we fix it? Yes. There are short cuts.
There is one key to measuring social media ROI
Twitter: @Nichole_Kelly
Isolating social users in the database
USERS
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Conduct a data flow audit
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Link tagging is the number 1 short cut
Source = SLC + channel promoted in Medium = Content type Campaign = Content 8tle
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Additional data to consider for tagging
• Social Account Name • Line of business • Product • Organic or Paid • Size and ad type if paid • Department • Unique ID for status update
Twitter: @Nichole_Kelly
Gap analysis • Will the current process work for real-time link
creation? • Is there a need for operationalizing link tagging? • How much content curation do you do? – Only works for links sent to company website with
primary web analytics code • How many microsites and other company
websites don’t have primary web analytics code?
Twitter: @Nichole_Kelly
What impact will it have? It changes everything
Organic search top converting source
. . . . . .
Engagement Consideration Acquisition
Customer Retention
Measuring the Social Media Customer Journey 51%
7.1% cheaper average cost per website visit 39%
29%
79% 92
cheaper average cost per acquisition increase in average
cost per engagement
higher average product adoption for social link clickers
% of negative reviews 8 % of positive reviews
$.15 average CPM
Q2 $.75 ACPE Higher CPE a result of increase in ad Budget for 2nd QTR Brand campaign
$11.75 In Q2 Increase in paid ad spend increased CPM, but CPSV declined
than non-social link clickers
Awareness
✔
5.1 in Q2. Up from 4.9 in Q1.
Q2 Report – June 2014
*An engaged social media user is someone who clicks on a link shared
on a social channel
Advocacy Loyalty
41% higher average 3-year customer value
$1580 in Q2 High negative reviews in York, PA – Escalated to reg. manager
cheaper average cost per thousand impressions (CPM) than paid search only
than non-social link clickers
Control Group Analysis – 1st party link clickers Social’s Influence on Consideration
Visit 171% more o?en than the average site visitor with 259% more page views
They spend 323% more 8me on site and bounce 72% less o?en
They are far more likely to visit the site mul8ple 8mes. On average they have a 950% li? in mul8ple visits over the average site visitor.
They consume our content and do it o?en with a 2672% increase in 51 to 200+ visits
Twitter: @Nichole_Kelly
Control Group Analysis – 3rd party link clickers Social’s Influence on Consideration
They visit our site a?er consuming curated content. Visit 188% more o?en than the average site visitor with 302% more page views.
They spend 474% more 8me on site and bounce 71% less o?en
They are far more likely to visit the site mul8ple 8mes. On average they have a 1351% li? in mul8ple visits over the average site visitor.
They consume our content with wild voracity with a 4915% increase in 51 to 200+ visits
Twitter: @Nichole_Kelly
Control Group Analysis – Social’s Influence on Consideration
Twitter: @Nichole_Kelly
Control Group Analysis – Influence on Consideration
Twitter: @Nichole_Kelly
Not everything that can be counted counts, and not
everything that counts can be counted.
-Albert Einstein
Email: [email protected] Book: How to Measure Social Media
Questions?
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SOCIALMEDIA.ORG/SUMMIT2014ORLANDOOCTOBER 27–29, 2014