KPI's, Social Media Metrics and Business
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The is presentation was delivered at the Online Community Engagement conference in Sydney on 1 Nov 2012. I picked the dense topic of data, analytics and reporting and how it is critical in the social business journey. How it should/can be used to build compelling business cases.
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KPI's, Social Media Metrics and Business
- 1. Online Community Engagement 1 November 2012 Identifying KPIs for superior customer service Dheeraj Chowdhury Principal Consultant – Business Platforms Infosys Australia & New Zealand (Former Group Leader Digital Media – NSW DEC)
- 2. Agenda •Maximising network effectiveness •Using data evidence to build business case •Measuring analysis of online engagement insights
- 6. STOP
- 19. v v v v v
- 20. v v v
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- 23. Business case
- 24. Why use social media? • 1. Social proof • 2.Humanises your brand • 3. Builds your sphere of influence • 4. Your competition is using it. • 5. Your target audience is using it. • 6. Search engines count social sharing when ranking. • 7. Provides great brand exposure • 8. It‟s the next generation of word of mouth marketing • 9. Social media networking sites have high page rank • 10. Provides transparency • 11. Opens Up conversation • 12. Aids customer service • 13. Brand exposure Source: http://socialmediatoday.com/james-debono/480927/13-reasons-why-using-social-media-business-non-negotiable//
- 32. Data vs Reporting It happens again and again. And again. And…again! It goes like this: • Someone asks for some data in a report • Someone else pulls the data • The data raises some additional questions, so the first person asks for more data. • The analyst pulls more data • The initial requestor finds this data useful, so he/she requests that the same data be pulled on a recurring schedule • The analyst starts pulling and compiling the data on a regular schedule • The requestor starts sharing the report with colleagues. The colleagues see that the report certainly should be useful, but they‟re not quite sure that it‟s telling them anything they can act on. They assume that it‟s because there is not enough data, so they ask the analyst to add in yet more data to the report • The report begins to grow. • The recipients now have a very large report to flip through, and, frankly, they don‟t have time month in and month out to go through it. They assume their colleagues are, though, so they keep their mouths shut so as to not advertise that the report isn‟t actually helping them make decisions. Occasionally, they leaf through it until they see something that spikes or dips, and they casually comment on it. It shows that they‟re reading the report! • No one tells the analyst that the report has grown too cumbersome, because they all assume that the report must be driving action somewhere. After all, it takes two weeks of every month to produce, and no one else is speaking up that it is too much to manage or act on! • The analyst (now a team of analysts) and the recipients gradually move on to other jobs at other companies. At this point, they‟re conditioned that part of their job is to produce or receive cumbersome piles of data on a regular basis. Over time, it actually seems odd to not be receiving a large report. So, if someone steps up and asks the naked emperor question: “How are you using this report to actually make decisions and drive the business?”…well…that‟s a threatening question indeed! Source: http://www.gilliganondata.com/index.php/2012/02/22/the-three-legged-stool-of-effective-analytics-plan-measure-analyze/
- 40. Cross Channel Marketing Initiatives • External Social Sites like Facebook, twitter, YouTube. Social Commerce • Owned assets like communities, forums, blogs • Rich out of the box offerings for popular marketing needs Customer Care New Product Brand Product SM Press Launch hub Recall Rom Integrated Analytics platform • Leverage both web & social to provide rich cross Product Community channel views and reports with the help of text Manager SocialEdge Collaborative analytics Manager Marketing platform • Associate Correlate these insights with marketing initiatives. Collaborative Marketing Lead/ Relationship Marketing Manager Ability to leverage this insights and fine tune • Marketing Strategy Engagement Consumer • Sales Position and approach • Product Design Social Edge Social and Web analytics 360 customer view • Target campaign and content Consumer Portfolio • Psychographics/ techno graphics of your customer 40
- 41. Monetize Digital Demand Infosys SocialEdge helps create a result-oriented social business. It equips organizations to effectively engage with employees, customers and partners to build a social enterprise. Infosys SocialEdge platform offerings – Consumer Portfolio and Enterprise Portfolio – empower companies to harness the power of social media to deepen relationships. The platform is designed to help foster innovation, enhance consumer experience and increase revenues. Harness the power of social media to deepen consumer engagement and enhance employee productivity Social Dashboard Single window to monitor ongoing social activity Build Community Orchestrate conversations between customers and experts Foster Innovation Enable employee collaboration and generate new ideas Engage Customers Content aggregation for context-aware dialogue Social Analytics Gain deeper insights and track ongoing ROI 41
- 42. Deepen Employee Engagement Infosys TalentEdge is a comprehensive Talent Management platform that that deepens employee engagement. TalentEdge addresses the entire HR lifecycle helping companies streamline their HR processes and reduce operational costs. The platform is built on state-of- the-art technology and is delivered in the Cloud on an outcome-based pricing model. Infosys TalentEdge provides companies with the convenience of single point of accountability by taking complete „soup-to-nuts‟ ownership from technology to business operations. Simplify HR lifecycle and drive deeper employee interaction Social Engagement Improve access to organization-wide expertise to accelerate innovation Advanced Analytics Integrated insights to help HR make timely decisions Self-Service Interactive and intuitive user interface minimizes HR intervention Mobile Workforce Access functionalities from virtually anywhere: home, office, or on the go Integrated Solution Comprehensive solution for the entire „hire-to-retire‟ lifecycle 42
- 43. THANK YOU www.infosys.com Dheeraj Chowdhury Principal Consultant – Business Platforms Infosys Australia & New Zealand m: 0412107479 e: dheeraj_chowdhury@infosys.com twitter: dheerajc .
Notes de l'éditeur
- No one way to solve this challenge
- Before we start lets briefly look at:Why social mediaWhy social media metrics
- To put it perspective – multi channel, multi formatNo longer is the discussion - Are these going to stay?Is Facebook going to be around or is it going to be like MySpace?A show of hands who is using what
- Very easy to jump into measurement
- Very easy to jump into measurement
- There are four broad buckets of ways that social media data can be put to use by companies:
- Challenges here are:Consumer PrivacyComplexity and Cost
- Predictive
- PeopleProcessTechnolgy
- 1. Social proofConsumers are more and more savvy about who and where they purchase products from and people will take the time to research online before making a purchase. By having a social media presence that is both engaging and engaged it helps reassure clients that your business is reputable and can be trusted.2.Humanizes your brandCopying and pasting marketing lingo into social media just doesn’t work. You have less space to do it and the environment is completely different. Social media gives your business the opportunity to reach out and actually connect with your audience. No Stuffy corporate policies. Real one to one relationships.3. Builds Your Sphere of influenceYour sphere of influence is the people in and around your brand that you interact with. There will always be key people of influence in your niche so spend some time getting to know them, watch and learn how they engage their audience and then start engaging with them. When you manage to develop a relationship with these key people of influence it impacts on your sphere of influence, people will see it and this too will help build your credibility online.4. Your competition is using it.Your industry or niche is represented on Facebook and Twitter. It is. If you don’t believe me go to Google and do a search for: “Your niche” + “Facebook” and see what comes up.In 2011 Emarketer estimated that Facebook’s revenue from advertising was $3.8 billion and that could be $5.2 billion in 2012.Emarketer also said that almost 40% of small businesses that sell on Facebook say it is their soles sales channel.Companies are paying a lot of money to advertise and grow their brands in social media. That suggests that using social media for business is working. If you aren’t already, then you should be.5. Your target audience is using it.Think of Facebook as a shopping mall, where people are living a virtual social life, being present in this mall is one of the smartest moves you can make for your small business.The old saying goes that, “numbers don’t lie” so here are the official statistics from Facebook about usuage.StatisticsWe had 845 million monthly active users at the end of December 2011.Approximately 80% of our monthly active users are outside the U.S. and Canada.We had 483 million daily active users on average in December 2011.We had more than 425 million monthly active users who used Facebook mobile products in December 2011.Facebook is available in more than 70 languagesSource: http://newsroom.fb.com/content/default.aspx?NewsAreaId=22Of course these numbers are for Facebook only and don’t include any of the other social media sites which have hundreds of millions more of users. What would it mean to your business if you had 8 new customers? That is less than one millionth of the percentage of users on Facebook. Yes, there are certain pitfalls you need to ignore when using small business social media marketingbut surely it is worth trying.6. Google counts social sharing when ranking.The whole concept of the internet is a web. If you think of a web there are many layers or paths to a single point. The more paths, called links, to this single point the more authoritive, or stronger the point becomes.When many different people on social media refer to your content, your website, your articles ,or your video it means that those individual people find your content useful, entertaining, informative or all of the above. When this happens the search engines pay attention and in return use this as a factor to providebetter search engine placement for your content.Click on the following link to learn more about the social media effect on seo.7. Provides great brand exposureIf your brand can really embrace the nature of social media, through providing great content and engaging and interacting with your audience in a manner that leads to building a great community that people want to be involved with, then your brand will get a great boost.8. It’s the next generation of Word of mouth marketingWhat better way to interact with new potential clients than via people who have already experienced what your brand has to offer? When your social media presence starts to generate conversation and reactions such as; likes, shares, tweets, pins or whatever else it maybe then you get their approval. This social recommendation is visible to that persons individual following and acts as a great gateway for their friends or family to get to know more about your brand.9. Social Media Networking sites have high Page RankFacebook, Twitter, LinkedIn have high Page Rank. This means that in terms of the search engines like Google and Bing that they carry authority and therefore get good rank in search results. Having a well optimized social media profile on Facebook or LinkedIn can help you command search result places for your brand name or search terms related to your business, providing more ways for clients to get in contact with you.10. Provides TransparencySocial media is an open book. If someone likes you then great, everyone can see it. If someone doesn’t like you and mentions something negative about your brand or experience then this too is available to the community.Many successful businesses that leverage social media use this as an advantage to show how switched on they are by replying and finding a resolution and closing that loop. This shows to the watching community that your business has integrity and values interaction, criticism and debate and more importantly knows how to deal with it.11. Opens Up ConversationThe users of your brand or experience are the best people to learn from when it comes to making things better. By invoking questions about the usability of your experience you will get an understanding as to what clients are looking for. You will also be able to gauge how to improve things in the future. Social media for small business success is truly about listening as opposed to marketing!Conversations act like a magnet; when one starts people prick up their ears and take notice. This can have a knock on effect where more and more people jump into the conversation. This could help to get your content and brand spread wide and far.12. Aids Customer ServiceMany businesses face the same questions time and time again when it comes to customer service. Use your social media outlets to answer those questions. By doing it this way you can highlight to your community that you are available but also get other people within the community to provide answers and support to new members who have perhaps experienced the same issues themselves.13. Brand ExposureEverybody wants to expose their brand to a larger audience. The more targeted people who are aware of your brand, the greater the chance you have of turning those into leads, paying clients and brand advocates.
- To put it perspective – multi channel, multi formatNo longer is the discussion - Are these going to stay?Is Facebook going to be around or is it going to be like MySpace?A show of hands who is using what
- Demographic DataThis data types enables an effecient way to create context about consumers, yet broad survey-based research may not yield specific nuances and needs about specific individual taste as today’s consumers are given more choices and have more discrete needs. Some marketers are able to glean demographic data from social accounts gender, age range, by profile data, profile pictures, or searching public records like Zabasearch and Spokeo.Product DataA data type commonly used in ecommerce websites, this data type is used to match similar products with each other, in order to cross-sell and up-sell products. Often combined with demographic data, this data type, mixed with referral and behaviorial data yields greater accuracy. Visit any ecommerce website from Amazon, BestBuy and beyond to find examples of product matching.Psychographic DataAs the social web exploded in the past few years, consumers are volunteraily self-expressing their woes, pains, and aspirations in websites. This provides those who want to reach them increased opportunities to market based on lifestyle, painpoints, beyond just product sets. This data type is useful in both message and conversation creation as well as identifying features and products to improve or fix. To learn more about lifestyle and pain point positioning see the 5 stages of positioning by Lifestyle, Pain, Brand, Product, or Features.Behavioral DataThere’s at least two ways to find this data, it’s in both existing customer records like CRM or ecommerce systems or also in the “digital breadcrumbs” that users are leaving in social networks using a variety of web techniques from cookies, FB connect, and other social sign on technologies. The opportunity to suggest content, media, deals, and products to them that matches their previous behaviors will yield a greater conversion.Referral DataCustomers are emitting their recommendations for products, but positively –and negatively. Both explicitly through ratings and reviews, as well as implcity though gestures like the ‘like’ button to their social network. Vendors like Bazaarvoice (disclosure: client) offer a suite of tools for customer feedback and intelligene, Zuberance fosters positive WOM through positive ratings, and ExpoTV is a catalyst for conversation using video reviews, and see the well known case study from Levi’s who implemented the Facebook Like button.Location DataAs location based technology and services emerge for consumers to emit signals where they are using mobile devices, this data helps to triangulate context around location and time for brands to reach them. From Foursquare checkins and the associated contextual ads that emerge to ‘players’ to Facebook places, consumers can now emit their location, in exchange for contextual information, see how Awareness Hub (client) is able to surface influencers by location in Foursquare Perspectives.Intention DataThe most innacurate, this volatile data type holds great opportunity to predict what consumers will do in the future. Wish lists, social calanders like Facebook Events, Zvents, and aspirational websites like PlanCast, 43 Things allow consumers to broadcast their future plansSavvy marketers will harness explicit content and serve up the right messages in advance – as well as poach from competitors. Learn more about intention data –which is faster than real time.
- his diagram was titled “Analytics Maturity.” It’s true — slapping Google Analytics on your web site (behavioral data) is cheap and easy. It takes more effort to actually capture voice-of-the-customer (attitudinal) data; even if it’s with a “free” tool like iPerceptions 4Q, there is still more effort required to ensure that the data being captured is valid and to analyze any of the powerful open-ended feedback that such surveys provide. Integrating behavioral and attitudinal data from two sources is tricky enough, not to mention integrating that data with your e-mail, CRM, marketing automation, and ERP systems and third-party data sources that provide demographic data!
- The diagram starts to get at the never-ending quest to obtain a “360 degree customer view.” A persistent misperception among marketers when it comes to web analytics is that behavioral data alone can provide a comprehensive view of the customer. It really can’t — force your customers to behave in convoluted ways and then only focus on behavioral data, and you can draw some crazily erroneous conclusions (“Our customers appear to visit our web site and then call us multiple times to resolve a single issue. They must like to have a lot of interactions with us!”).Combining multiple data sources — behavioral and attitudinal — is important. As it happened, Larry Freed, the Foresee Results CEO, had a diagram that came at the same idea:
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