1. Social Media Monitoring & Measurement The University of Kansas, Edwards Campus JOUR 831: Technology in Marketing Communications Kelly Kearney Spiral16 September 22, 2009
2. The marketing challenge “Marketers don’t understand channels where you have to talk and listen at the same time… The marketing industry’s idea of two-way communication is to put an 800 number or a web address in an ad and take orders.” - Josh Bernoff, Forrester Analyst
3. How pervasive is social media? Twitter averages 3,000,000 tweets every single day. YouTube averages 100,000,000 videos viewed per day. There are over 3,600,000,000 photos archived on Flickr.com as of June 2009. If Facebook were a country, it would be the 8th largest in the world … just ahead of Japan. What the F**K is Social Media
4. How pervasive is social media? In 2009, more than four out of five online Americans are active in either creating, participating in, or reading some form of social content at least once a month. Forrester Research, 2009.
6. What departments are using social media? “Nobody owns social media. Social media is just another channel to reach people. The people who use it, own it.” - Brian Solis, Principal of Future Works eMarketer, September 22, 2009.
7. Be prepared to meet your curmudgeon. It’s a FAD. It’s too RISKY. It’s a TIME SUCK. It’s too INVASIVE. There is no ROI. Info from Charlene Li, Convince the Curmudgeon
8. Be prepared to take detours. You will most likely have to: Adapt on short notice. Identify your top 5-10 nightmares. Rehearse with “fire drills” before disasters happen.
9. Be prepared to measure ROI Despite widespread adoption of social media, measurement stills lags. Only 16% of those polled said they currently measured ROI for their social media programs. eMarketer, September 22, 2009.
10. Why should you invest in monitoring? Going it alone can be like drinking water from a fire hose. Photo: Chris Blakeley, Flickr
11. How do you start? LISTEN to your audience to understand the buzz about your brand. UNDERSTAND what they need out of your relationship. ENGAGE with your community to build trust, respect, and loyalty.
12. What are the benefits of monitoring? Effectively manage marketing spend (Marketing / MarCom) Increase efficiencies / improve employee morale (Internal) Gather transparent competitive intelligence (Strategy) Quicker customer service response time (Customer Service) Your Business Monitor brand reputation (Public Relations) Track feedback of a product launch (Product Dev. / R&D) Increase brand loyalty and presence (Brand) Real-time market research (Research) Validate the success of marketing campaigns (Marketing / MarCom) Acquire new customers (Sales)
13. How do you measure the impact? “Your goals determine your metrics. Use the same metrics as your corporate goals.” - Charlene Li, Forrester Analyst
14. How do you measure the impact? Examples of “Micro” Metrics Info from Charlene Li, Convince the Curmudgeon
15. How do you measure the impact? Return on Investment Example Reality Digital Inc. Total investment for social media programs (including technology costs and PR agency hours): $3,000/month Total sales leads generated (April to June): 72 Average sales leads per month: 24 Average cost per sales lead: $125 Lead conversion to sales opportunities: 11.1% Lead conversion to closed deals: 1.4% Computerworld.com, September 21, 2009
