Measuring Social Media

Social Media: Measuring Effectiveness

Dave Evans,Author, “Social Media Marketing: An Hour a Day”Principal, Social Web Strategies

Where Social Media and Health Care Meet- Harnessing New Media Tools

Thursday, June 18, 2009 THA Headquarters

Outline

The Driving Factors The Social Feedback Cycle Social Media Metrics Web Analytics Quantifying the Social Web

2

The Original Dream

“I had (and still have) a dream that the web could be less of a television channel and more of an interactive sea of shared knowledge. I imagine it immersing us as a warm, friendly environment made of the things we and our friends have seen, heard, believe or have figured out. I would like it to bring our friends and colleagues closer, in that by working on this knowledge together we can come to better understandings.”

--Tim Berners Lee, 1995

The Current Landscape

As people take control over their data while spreading their Web presence, they are not looking for privacy, but for recognition as individuals. This will eventually change the whole world of advertising. - Esther Dyson, 2008

The Audience

Consumption and participation are indicators of the clear trend.

Reinforcement and confidence…

*

The Purchase Funnel

be aware

consider

buy

relative media spending

brand awareness keyword

consumer-generated

(Think “megaphone”)

marketer-generated

(Think “funnel”)

be aware

consider

buy use

form opinion

talk

Social content, networks, and interactions

word-of-mouth

The Social Feedback Cycle

relative media spending

brand awareness keyword

The Social Flywheel

It takes money to drive the purchase funnel. It takes a great product or experience to drive the flywheel. Over the long-term, the Flywheel always wins.

The Core Cycle

The cycle connects conversion and popular measurements—e.g., engagement and influence—with fundamental “try-buy-talk” consumer purchase behaviors.

Touchpoint Analysis

People experience different aspects of brands in different ways and places. Understanding these experience drivers is the first step in

tapping word-of-mouth. Doing something with them is the second.

Experiences that get talked about add up to conversations.

You can measure this!

Touchpoint Analysis

Functional

talk-value

Per

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ance

of

tou

chp

oin

t

posit

ive c

onve

rsat

ion

Customer

talk-value

Imp

ort

ance

of

tou

chp

oin

t

valu

e to

cus

tom

er

Channel

talk-value

con

sist

ency

of

tou

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repl

icabl

e ex

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nce

There are multiple views of touchpoint analysis. Choose the one(s) that expose the aspects of your business that

matter to your customers, and, that you can control.

Touchpoint Optimization

talk-value

per

form

ance

???

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Identify and focus on what gets talked about.

not profitable

Influencers and Profitability

prof

itabi

lity

profitable

not profitable

Influencers and Profitability

prof

itabi

lity

profitable

non-influential

degree of influence

profitable

influential

not profitable

influentialnon-influential

not profitable

Influencers and Profitability

prof

itabi

lity

profitable

non-influential

degree of influence

profitable

influential

not profitable

influentialnon-influential

I’d promote youI’d slam you

You can measure this!

Social Media Measurement

Raw Data– Google Alerts

Conversational Data– BlogPulse– Cymfony– Techrigy– Radian6– Collective Intellect

Diagnostic Data– Net Promoter

Social Media Dashboards

Web Analytics

Measurement Points

Relevance{Impact

{ {Content

{

Social Media Monitoring

Web Analytics

Pipeline Metrics

Evaluating Content: Audience

Metric Source Reveals

Blog PostsTweetsMentions of:Brand, Product, ServiceCompetition

Recommends

BlogPulseCymfonyTechrigyRadian6Collective Intellect

Net PromoterGoogle AlertsBlogsearchTechnorati

Who is talking about you, what people are sayingabout you and your industry.

?

Social Content: Dashboards

Dashboard view provides summary info, sentiment, top sources

Referrer data facilitates drill-down to sites

Site/source data can be examined for additional insights

Tracking Vanity URLs

In print and TV, “vanity” URLs can be tracked

Using tools like BudURL, you can create and track user-friendly vanity URLs across the Social Web.

Tracking Conversations on Twitter

Twitter Search Tweet Deck

– Search– Filter

Evaluating Relevance: Influence

Metric Source Reveals

Time on SiteBounce Rate

Google Analytics Web Analytics (e.g.,Omniture)

The value of the opinions and conversations to those interested in purchase.

?

Evaluating Relevance: Engagement

Metric Source Reveals

Pass-Alongs

Comment to Post Ratio

Diggs, StumblesBookmarks

Podcast Listens and Views

Google AnalyticsWeb AnalyticsDoubleClick

Blog Analytics

Digg.comStumbleUpon.comDel.icio.us

Feedburner

The interest levels in your message. Are customers willing to refer given a potential gain or loss of personal “social capital?”

?

Evaluating Relevance: Loyalty

Metric Source Reveals

Blog Posts TweetsRecommends

BlogPulseCymfonyTechrigyRadian6Collective IntellectGoogle Alerts Blogsearch Technorati

The context and intensity of blog posts. Are people sticking up for you? Is the information YOU provide making it to the consideration process?

?

Tying Social Content to Web Analytics

Social monitoring tools point to referrer

Referrer ties to your analytics data*

Analytics data shows site path and goals

* It’s less than perfect, but it’s better than nothing!

Evaluating Impact: Audience

Metric Source Reveals

Referrers DemographicsClick-throughs

Google Analytics Web Analytics DoubleClick

To whom your social media campaign is appealing.Actions are being taken by those exposed to it.

?

Evaluating Impact: Influence

Metric Source Reveals

Time on SiteBounce rate

Google Analytics Web Analytics (e.g.,Omniture)

Repeat Customers

How involved your audience is with your message and brand, product, service as a result of exposure to social media.

?

Evaluating Impact: Action

Metric Source Reveals

ConversionsReviewsRecommendsTweets

Google Analytics Web Analytics

Review Platform

Net Promoter

The number of times a desired outcome occurs following

exposure to your holistic campaign.

?

Baseline Measures ROI

Conversation (Inference) Historical Analytics

– TIP: Social Dashboards provide historical data as well as current.

Differential Measures validate ROI

Conversation (Inference) Historical Analytics Ask Your Customers (Direct)

Key Point Summary

Establish Your Baseline

Integrate Your Data

Social media components surround and support the “conversion” process. Social media data supports/informs your other data sources.

Integrated Campaigns

Social Media

Magazines

TV and Radio

Direct MailOnline

Advertising

Conversion (Purchase)

COLLABORATIVE TOOLS

BLOGS

VIDEO

PERSONAL SOCIAL

NETWORKS

MICROBLOGS

EMAIL (BACN)

SMS

AUDIO (PODCAST)

WIKIS

EVENTS WHITE-LABELSOCIAL NETWORKS

PHOTOS

Measure the Feedback

consumer-generatedmarketer-generated

be aware

consider

buy use

form opinion

talk

Social content, networks, and interactions

word-of-mouthYou can measure

this!

Track and Tie to Business Analytics

Build Quantitative Social Awareness

At least weekly, social media use: (age 12-21, Q4 2006)

More Information

Twitter: evansdaveBlog: http://www.ReadThis.com

Contact: http://www.socialwebstrategies.com

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