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