Defining Your Social Media Strategy and Measuring Success - A Step-by-Step Guide
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- A practice framework that helps you define your Social Media Strategy - A Step-by-Step guide the 3 metrics you need to track today - InStyle magazine as a case study on how social can help enhance both brand presence and user experience - Links to all the tools you'll need - Suitable to entrepreneurs and companies of all size - With a bonus tool box that helps you achieve you goals
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Defining Your Social Media Strategy and Measuring Success - A Step-by-Step Guide
- 1. On Social Strategy & Measuring Success A Step-by-Step Guide Cathy Ma Head of Social Media, IPC Media 27 March 2012 @cathyma
- 2. Agenda • About IPC • The Holy Grail of Social Media Success • The 3 Core Metrics • Case study - InStyle • Bonus Social Tool Box @cathyma
- 3. What’s ? @cathyma
- 4. @cathyma
- 5. The Holy Grail of Social Media Success Business User Objectives Needs / Value Platform / Technologies @cathyma
- 6. The 3 Core Metrics Cost per Acquisition Engagement Metrics Value of conversation @cathyma
- 7. Begin the tracking journey Top 3 Actions to Start Today @cathyma
- 8. Acquisition Step 1: Start Tracking How does Social Media bring you new customers? utm tracking http://bit.ly/URLgenerator @cathyma
- 9. Acquisition Step 2: Iterate & Improve http://www.tbgdigital.com/view/awards/heineken-opener-festival/
- 10. Acquisition Step 3: Start Playing Facebook’s Open Graph Application
- 11. Acquisition Step 3: Start Playing New readers: 1 million in 3 weeks Monthly Active Users: 4 million Page View generated: 1 million extra per day Web Referral from FB Up 600% through social graph Sources: http://www.simplyzesty.com/ http://www.poynter.org/ http://www.onlineschools.org/
- 12. 2. Retention – who’s talking? How does Social Media retain your customers? Credits: http://bit.ly/SMRetention @cathyma
- 13. 3. Monetisation – Value per Engagement How does Social Media help you monetise? Credits: http://bit.ly/SMRetention @cathyma
- 14. Not Everything Can Be (directly) Measured @cathyma
- 15. Real time feedback @cathyma
- 16. Sharing Passion @cathyma
- 17. Engagement Everywhere The InStyle Case Study @cathyma
- 18. InStyle’s Best Beauty Advice 18 @cathyma
- 19. On Facebook… 19 @cathyma
- 20. Then Print… @cathyma
- 21. With Top Content… 21 @cathyma
- 22. Enhancing Brand Experience using Social From Web… Best Content… To Social Media… Then Print… @cathyma
- 23. The Holy Grail of Social Media Success Business User Objectives Needs / Value Platform / Technologies @cathyma
- 24. Key Takeaway 1. Acquisition – Campaign Tracking 2. Retention – Engagement Metrics 3. Monetisation – Conversion Analysis 4. Not Everything can be Measured 5. Finding your Holy Grail @cathyma
- 25. Bonus: Your Social Analytics Tool Box Selected Useful Tools @cathyma
- 26. Getting the Right People @cathyma
- 27. Social Editorial Calendar @cathyma
- 28. http://www.nextanalytics.com/ @cathyma
- 29. Feedback / Questions? Cathy Ma @cathyma p://uk.linkedin.com/in/cathyma
Editor's Notes
- I love agenda. They make you know what you’re getting…
- Not a sales pitch – but just to give you some context to the credibility of our learning
- There are 60+ brands in IPC Media, and we reach over 26 million unique monthly visitors a month. It provides us with a great environment for learning and experimentation.
- People always ask me, ‘how to run a Facebook Page?’ ‘What apps should I be using?’ ‘What data should we be tracking?’ While these are all valid questions, we should start with WHY? How does your business sustain itself? What is your bottom line? I.e. How do you make money? What do your customers want? How can you help them? No one wants to be a friend of someone who only cares about himself/herself. (Surprisingly many people don’t get this.) THEN we talk about how platforms and technologies can help That’s what I coin as the Holy Grail to Social Media Success
- If there are only three things you measure, they gotta be: How you acquire your customers How good you are in keeping them How do you convert them to transact and hence helping you identifying the value of 1 and 2
- Let’s rock and roll
- VERY IMPORTANT. Track all links you use. Google Analytic’s Link Generator (See URL can help); but all analytics suites would allow you to put some ‘campaign tracking code’ at the end of the urls for you to identify where the sources of the traffics are. It might feel weird and scary at first, but once you start to see results and data, it’s AMAZING. Über critical for you to identify and optimise your effort across different social network.
- An excellent example (click link to see TBG’s example) in identifying cost per acquisition.
- If you have the resource and curiosity, consider stepping up and use the new Facebook Open Graph apps to help you reach even more audience.
- Examples publishers that have done this well.
- We’ve talked through acquisition; next step is Retention. Occam’s Razor blog post, if you only read ONE blog post in your entire career on social media campaign tracking, make this one yours (see link above). A brilliant model (including excel template) for you to go beyond tracking ‘likes’ and fan numbers, and to identify core retention metric that will provide insights for you to optimise and grow.
- Finally is to tie your eCPM (how much you make per a thousand page view visited) to the visits you get from Social Media. Sexy isn’t it??
- BUT not everything can be measured. Just like the fact that you cannot measure (or teach) someone to be charismatic or inspiring, you cannot make someone good in managing social media. You cannot also measure the value of being approachable, human, and helpful as a brand (and to your own employee satisfaction!). At least not directly.
- For example, we’ve uploaded the images of our subscribers’ and news stands editions of the Golf Monthly Magazine. Our readers love the fact that they can to see something that only normally brands get to, but also the fact that we are learning from them and taking on board their feedback.
- NME created a hashtag for people to share the Song that has changed their lives. Started as a series of blog posts in November last year, the blog post generated over 13k tweets and people are still talking about this today. We are not here to tell people what to think, but as an inspiration for them to ponder, dream, and share their platform. Whenever we can, we try our best to put our readers into the heart of our brands.
- A case study that demonstrate the power of Engagement.
- I love this example from InStyle. We have created a franchise called ‘The Best Beauty Advice We’ve Ever Heard’. We kick-started the concept on our website, then ask people to share their tips on our Facebook page created specifically for this.
- People then can come and like this page, and continue to gather tips with us and tell us what they think.
- We didn’t stop there. We leverage our print heritage and published a supplement to highlight the best content.
- Inside you’d see all the best tips, and our link back to the facebook page.
- This is how we see Social, Web and Print can interplay and create a powerful loop in enhancing brand experience.
- Just to sum it up – always start with your business objectives. Identify your core audience needs, THEN you work out how to solve that for them as well as for you. Win-win situation.
- Compulsively recapping.
- As you’re cool, I’m sharing my secret tool box on 3 things you’d need to run your social strategy successfully.
- Cannot emphasise more. Today we cannot afford to hire someone who only cares about one vertical. You gotta hire people who are driven, smart, willing (almost obsessed with) to learn/learning. I love working with people are slightly technical, slightly aesthetically astute, funny, ideally charming, humble… you get the point. Stephen Fry said you can’t teach people Social Media just like you can’t teach someone to be charming. Well, maybe we can just hiring someone charming (but also works hard). Also, remember if you only have £10 budget, spend only £1 on tools, definitely you get more out of a £9-brain. (Note: metaphorically).
- When I run Social Media workshops I am quite obsessive-compulsive about getting actionable output. I love the simplicity of this calendar that can help the whole team captured actions. Once you create this and pin this on a board, everyone can just build this into their day-to-day workflow. No chasing, no drama.
- I’m slightly addicted to this Excel plugin that talks directly to Google Analytics, Facebook Insights and Twitter etc. It’s not free but it’s inexpensive. What it does is once you build a dashboard once, each week/month you just need to press a refresh button and all the stats would just magically update itself. (this means that you can also build a competitive dashboard really easily!!) Sexy isn’t it? (Sad that we find an excel dashboard sexy. Or not.)
- I also run a company on social media strategy, training, workshop and consultancy. Best to connect with me via linkedin: http://uk.linkedin.com/in/cathyma