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Social Marketing Analytics

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A joint effort between Web Analytics Demystified's John Lovett and Altimeter Group's Jeremiah Owyang

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  • so good
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  • interesting.. n good~
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  • A nice example of how to quantify social media and it’s benefits to the bottom line.
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  • Excellent starter and just what we need to explore/modify the metrics to suit non-commercial environment.
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Social Marketing Analytics

  1. Social Marketing Analytics A New Framework for Measuring Results in Social Media A Joint Research Presentation With:
  2. SOCIAL MARKETING ANALYTICS: A New Framework for Measuring Results in Social Media @johnlovett @jowyang #SocialAnalytics
  3. 3 About This Research • A Collaborative Effort • Our Methodology • A Nod To Open Research
  4. 4 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
  5. 5 The conversation has shifted off domain Source: Pew Resource Center’s Internet and American Life Project , October 8, 2009
  6. 6 Facebook is the second biggest site in US Source: : Compete.com , January 2010
  7. 7 50 million tweets a day on Twitter Source: Twitter, February 22, 2010
  8. 8 companies are confused Source: http://www.engagementdb.com
  9. 9 The Big Social Experiment • Many companies are stumbling blindly into social media marketing without a measurement strategy in place 9
  10. 10 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
  11. 11 ...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
  12. 12
  13. 14 The Big Payoff is Elusive
  14. 15 The Marketing Funnel
  15. 16 • 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. 17 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. 18 The Discipline Includes a Framework
  18. 19 Begin with an Inside-Out Strategy
  19. 20 The SMA Strategy In Practice Corporate Goals Business Objectives Measures of Success Operational Tactics
  20. 21 The SMA Strategy: Goals •Corporate Goals = Vision •Understand, embrace & support •Socialize goals widely •Leverage motivating factors
  21. 22 The SMA Strategy: Objectives •Business Objectives = Strategy •Foster Dialog •Promote Advocacy •Facilitate Support •Spur Innovation
  22. 23 The SMA Strategy: Measures •Measures of Success = Management •Key Performance Indicators… •Provide context •Set expectations •Mandate actions
  23. 24 The SMA Strategy: Tactics •Operational Tactics = Execution •Specific campaigns •Channel preferences •Closed loop feedback
  24. 25 Use a Measurement Framework
  25. 26 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. 27 The Framework Begins with Goals
  27. 28 ...From Goals Stem Objectives
  28. 29 ...Then Measures of Success
  29. 30 And Finally Execution
  30. 31 A Social Marketing Example... •Goal •Objective •Measures •Tactics Driving Consideration
  31. 32 DIALOG Trumps Sponsorship
  32. 33 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. Foster Dialog Conversa- tion Reach Audience Engage- ment Share of Voice Strategy M anagem ent Execution Granular Metrics
  34. 35 Dialog KPIs in action • Share of Voice: • Audience Engagement: • Conversation Reach:
  35. 36 If I Were At Nike... Share of Voice Conversation Reach Audience Engagement
  36. 37 Advocacy in a Social World
  37. 38 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
  38. Promote Advocacy Advocacy Impact Advocate Influence Active Advocates GranularMetrics Strategy M anagem ent Execution
  39. 40 Advocacy KPIs in action • Active Advocates: • Advocate Influence: • Advocacy Impact:
  40. 41 If I Were At The National Breast Cancer Awareness Foundation... Active Advocates Advocacy Impact Advocate Influence
  41. Support Goes Social
  42. 43 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. Facilitate Support Resolution Time Satisfaction Score Resolution Rate Granular Metrics Strategy M anagem ent Execution
  44. 45 Support kpis in action • Social Media Issue Resolution Rate: • Resolution Time: • Customer Satisfaction Score:
  45. 46 If I Were At Best Buy... Issue Resolution Rate Satisfaction Score Resolution Time
  46. 47 Crowdsourcing innovation
  47. 48 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. Spur Innovation Topic Trends Sentiment Ratio Idea Impact StrategyM anagem ent Execution GranularMetrics
  49. 50 innovation kpis in action • Topic Trends: • Sentiment Ratio: • Idea Impact:
  50. 51 If I Were At Dell... Topic Trends Idea ImpactSentiment Rate
  51. 52 The Framework Is a Process
  52. 53 What about the Vendors???
  53. Business Objective Key Performance Indicator Vendors to Watch Foster Dialog Share of Voice Alterian SM2, Radian6, Scout Labs, Statsit, Trendrr, Visible Technologies Audience Engagement Coremetrics, Webtrends, Radian6, Scout Labs, Converseon, Filtrbox (Jive), Visible Technologies Conversation Reach Alterian SM2, Radian6, Scout Labs, Social Radar, Statsit, SWIX, Trendrr, Visible Technologies Promote Advocacy Active Advocates Biz360, Filtrbox (Jive), Radian6 Advocate Influence Cymfony, Filtrbox (Jive), Radian6, Razorfish (SIM Score), Telligent, Twitalyzer, Visible Technologies Advocacy Impact Coremetrics, Omniture, Webtrends, SWIX, Telligent Facilitate Support Resolution Rate Filtrbox (Jive), RightNow Technologies, Salesforce.com, Telligent Resolution Time Filtrbox (Jive), RightNow Technologies, Salesforce.com, Telligent Satisfaction Score ForeSee Results, iPerceptions, Kampyle, OpinionLab Spur Innovation Topic Trends 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
  54. 55 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
  55. 56 What about the Channels???
  56. 57 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. 58 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
  58. 59 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. DON’T BE THIS GUY, OKAY? DON’T BE THIS GUY, OKAY?
  60. 62 Want to Learn More?
  61. Questions?

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