Socialmarketinganalytics 100610085606-phpapp02

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Published on February 20, 2014

Author: StephenDarori1


Social Marketing Analytics A New Framework for Measuring Results in Social Media A Joint Research Presentation With:

SOCIAL MARKETING ANALYTICS: A New Framework for Measuring Results in Social Media @johnlovett @jowyang #SocialAnalytics

About This Research • A Collaborative Effort • Our Methodology • A Nod To Open Research 3

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 4

The conversation has shifted off domain Source: Pew Resource Center’s Internet and American Life Project , October 8, 2009 5

Facebook is the second biggest site in US Source: : , January 2010 6

50 million tweets a day on Twitter Source: Twitter, February 22, 2010 7

companies are confused Source: 8

The Big Social Experiment • Many companies are stumbling blindly into social media marketing without a measurement strategy in place 9

The Numbers are Telling… • “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 10

...Still Marketers are Perplexed • Social media vendors and platforms are proliferating at an astounding rate • Solutions exist for every channel • A multitude of choice creates confusion 11


The Big Payoff is Elusive 14

The Marketing Funnel 15

• The vast majority of businesses tracking social media today are using the wrong metrics! • It’s time for a new Social Media Measurement standard. 16

Introducing... • Social Marketing Analytics is the discipline that helps companies measure, assess and explain the performance of social media initiatives in the context of specific business objectives. 17

The Discipline Includes a Framework 18

Begin with an Inside-Out Strategy 19

The SMA Strategy In Practice Corporate Goals Business Objectives Measures of Success Operational Tactics 20

The SMA Strategy: Goals • Corporate Goals = Vision • Understand, embrace & support • Socialize goals widely • Leverage motivating factors 21

The SMA Strategy: Objectives • Business Objectives = Strategy • Foster Dialog • Promote Advocacy • Facilitate Support • Spur Innovation 22

The SMA Strategy: Measures •Measures of Success = Management • Key Performance Indicators… • Provide context • Set expectations • Mandate actions 23

The SMA Strategy: Tactics •Operational Tactics = Execution • Specific campaigns • Channel preferences • Closed loop feedback 24

Use a Measurement Framework 25

Marketers Need A Framework • A pragmatic approach using metrics derived from sound business objectives • Minimizes confusion about the value of social marketing efforts • And delivers tangible results 26

The Framework Begins with Goals 27

...From Goals Stem Objectives 28

...Then Measures of Success 29

And Finally Execution 30

A Social Marketing Example... •Goal Driving Consideration • Objective • Measures • Tactics 31

DIALOG Trumps Sponsorship 32

Dialog Requires… • Building awareness 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 33

Granular Metrics n io ut ec Ex Share of Voice Audience Engagement Conversation Reach ag an M gy te ra St t en em Foster Dialog

Dialog KPIs in action • Share of Voice: • Audience Engagement: • Conversation Reach: 35

If I Were At Nike... Share of Voice Audience Engagement Conversation Reach 36

Advocacy in a Social World 37

Advocacy Requires… • Encouraging word 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

Promote Advocacy r St gy e at Advocate Influence Advocacy Impact a M nt e m e ag n Ex n io t cu e Granular Metrics Active Advocates

Advocacy KPIs in action • Active Advocates: • Advocate Influence: • Advocacy Impact: 40

If I Were At The National Breast Cancer Awareness Foundation... Active Advocates Advocate Influence Advocacy Impact 41

Support Goes Social

Support Requires… • Resolving service 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 43

St gy te ra a an M en m ge t Facilitate Support io ut ec Ex n Resolution Rate Resolution Time Satisfaction Score Granular Metrics

Support kpis in action • Social Media Issue Resolution Rate: • Resolution Time: • Customer Satisfaction Score: 45

If I Were At Best Buy... Issue Resolution Rate Resolution Time Satisfaction Score 46

Crowdsourcing innovation 47

Innovation Requires… • Gathering customer 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 48

Sentiment Ratio Spur Innovation r St eg at Granular Metrics Topic Trends y Idea Impact M Ex ec ut io n an a ge m en t

innovation kpis in action • Topic Trends: • Sentiment Ratio: • Idea Impact: 50

If I Were At Dell... Topic Trends Sentiment Rate Idea Impact 51

The Framework Is a Process 52

What about the Vendors??? 53

Business Objective Key Performance Indicator Vendors to Watch Share of Voice Audience Engagement Coremetrics, Webtrends, Radian6, Scout Labs, Converseon, Filtrbox (Jive), Visible Technologies Conversation Reach Foster Dialog Alterian SM2, Radian6, Scout Labs, Statsit, Trendrr, Visible Technologies Alterian SM2, Radian6, Scout Labs, Social Radar, Statsit, SWIX, Trendrr, Visible Technologies Active Advocates Promote Advocacy Advocate Influence Biz360, Filtrbox (Jive), Radian6 Cymfony, Filtrbox (Jive), Radian6, Razorfish (SIM Score), Telligent, Twitalyzer, Visible Technologies Advocacy Impact Coremetrics, Omniture, Webtrends, SWIX, Telligent Resolution Rate Filtrbox (Jive), RightNow Technologies,, Telligent Facilitate Support Resolution Time Filtrbox (Jive), RightNow Technologies,, Telligent Satisfaction Score ForeSee Results, iPerceptions, Kampyle, OpinionLab Topic Trends Spur Innovation 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

Vendors Are A Mandatory 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

What about the Channels??? 56

Specific Channels Are Secondary to Strategy • Find your audience, wherever they may be • Recognize influence above the noise • Promote advocacy and leverage your people 57

A New Social Media 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

Your Prescription For Measurement 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 59


Want to Learn More? 62


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