Measurement is Sexy (and could be even sexier)

CMA Social Media ConferenceTorontoJune 12th, 2012

Wikibrands - Reinventing Your Organization in a Customer-Driven Marketplace www.wiki-brands.com

#wikibrands#CMAsocial

@seanmoffitt@wikibrands

@cdnmarketing

The Old Spice Guy of Business + Digital + Marketing + Social

Alternate Presentation Title

What “words” come to mind when you think of measurement?

evil necessaryboring

helpful

geeky

nerdylieing

tough

expected

critical

inconclusive

wrong elusive worth itinaccurate

useless

integrated

vital

number-crunchingsoul-destroying management

New Media Needs To Grow Up

1998-2001 2002-2004 2005-2006 2007-2008 2009-2011 2012- ???

What is it? Should we do it?

How do we test it?

How do wemake it core?

The Evolution of Engagement/Social

“Geek is Chic”

“I keep saying that the sexy job in the next 10 years will be statisticians. And I’m not kidding.”

Hal Varian, Chief Economist, Google

Source: MasterInIt.org

The Geekiness of TV – Top Shows….

1982

GeekFactor/Intellect

1992 2002 2012

December 2011December 1996

What We Love On TED Talks

Of Metrics Of Data Of Infographics

Some Big Ideas on Sexing up Social

Media Measurement?

Devon SmithDirector of Social Media, Threespot

Libby SneadSenior Marketing Manager, Simply Measured

Get a Nice Room…

”Know who thinks that you’re sexy back."

Jeff EspositoPR & Social Media Manager , Vistaprint

”Seeing it, is believing it."

Stew LangilleCEO and Co-Founder, Visual.ly

" I get an orgasm over big data. Make love to data directly and find the unknown unknowns."

Avinash KaushikDigital Marketing Evangelist, Google

Why is Social Media Measurement Sexy?

What Makes People Sexy?

Sexy Attributes?- Intimacy

- Going Places

- Important

- Fit

- Good Listening

- Attractive

- Tell a good Story

Sexy Attributes?- Many

Talents/Connections

- Responsive to Needs

- Tell a Good Story

#1 Intimacy – The more you use it, the sexier you know it is

Source: IBM

#2 Going Places – Sexiest growth segment in a terrifying world

$326M

$689M

TBD

$300M

$400M

#3 Important – Sexiest internal social priorities for companies

Source: Altimeter 2011

#4 Fitness – Not many of us practice it well

#4 Fitness – Not many of us do all of it

To Access

and Monitor

It

To Analyze It and

Measure It

To ExtractValue and

InsightFrom It

To ProjectIt and Build

Foresight

To Socialize

and Communi

-cate It

#5 Good Listening Skills are Sexy

Source: Agent Wildfire 2011 Buzz Report

Biggest Sins of Social Media Practitioners

#6 Attractive/Good LooksDashboards and Infographics

Source: Radian6 dashboard

#6 Attractive/Good LooksInfographics and Dashboards

Google Search Returns “Infographics”: Jan’01 – 0.5 millionJune’12 – 14.2 million

#7 Many Talents and ConnectionsBroad Health Signs and Connected Data

Marketing/brand engagement health

Business/Sales health

Employee/internal health

Customer service/response health

Research and Innovation Health

Customer Experience Health

Web

Social media

Email

Internal

Mobile

Face to Face

Phone

Community

Retail

#8 Responsive to NeedsLess than ½ of Us Track and Follow IUp

Source: Satmetrix 2012

Engage with Customer Queries and Information….quickly

#9 Storytelling - Merchandise and Generate Narrative from

Your Measured Successes

http://stories.facebook.com/http://stories.twitter.com/

#9 Storytelling - Stumble Upon, Charity Water and Toyota

What’s In the Way of Social Media

MeasurementSexiness?

The biggest obstacles that continue to exist in implementing social media/WOM in your

company/clients?

1. Inability to measure 40%2. Lack of budgets 31%3. No accepted standards/benchmarks 29%4. Fear of loss of control 29%5. Inability for culture to accept 25%6. Technical skills/expertise not in place 23%7. Do not understand diff. bet. Mass marketing 21%

Source: Agent Wildfire Buzz Report 2011

Biggest Hurdles to Measurement Sexiness – The Uncontrollables

-Sentiment and Language Limits

-New social behaviours/new networks/new media

-Data quality and datasets

-Vendor specific approaches and Industry standards

Source: Insites Consulting 2012

There is no silver bullet to measurement

Social Media Value

(vs. objective)=

Benefits – Risks----------------------

Cost

Measurement - You Need to Roll Your Own

Really?“What’s the ROI of putting on your pants every morning?”

Scott Monty, Ford Head of Social Media

Organic factors:Core product/service + Customer Experience

Content and Engagement factors:Interestingness + Socialness + Intimacy + Authenticity + Reputation + Incentives

Amplification and connection factors:Presence + Value adds (UGC+insights+support) + Advocacy

Proportion and Expectations?

Source: Booz Allen

How to Make Social Media Measurement

Sexier?

“Baseball thinking is medieval, they are asking all the wrong questions…

Using stats to reread them, we'll find the value of players that nobody else can see. Because everyone else in baseball under values them. Like an island of misfit toys.”

The communication, collaboration and social media underrated list:

➷ Content – variety/engagement/impact difference

➷ Community – active members/contributions

➷ Insight and Foresight – business changes from social influence and impacts

➷ Influence – two-level influence/differential impact

Measuring Your Home, Neutral and Away Game

Home:Website

BlogCommunity

Forums

Away:Social Networks

Sharing SitesOther BlogsInfluencers

Neutral:Brand Pages

Personal ProfilesRSS Feed

Facebook Connect

The Future

Agent Wildfire/Wikibrand’s 3rd Annual Buzz Report Survey

“We will be able to track the presence and value of conversations much more accurately over the next

decade”

88% agree/strongly agreehttps://www.surveymonkey.com/s/buzzreport2012

The socialization of everything…and that’s OK but frustrating

13.8% of online population…

…create 80% of the online influence posts

6.2% of online population…

…create 80% of the online influence impressions

R E C Sx x x

Four sources of Influencer power

Reach Exposure Credibility Suasion

=

Now we can provide the raw evidence

Sexy Measurement Brands

• Leveraging what we see in conversations

• Initiating discussion and dialogue

• Acquiring people for our community

• Managing our communities

Molson uses LIAM

Area of Benefit - Microsoft

Feedback - Emerging top issues - Product issues identified

Advocacy - Word of mouth/evangelism/Sharing - Important stakeholders - VIPs

Support - Break-fix issues - Recognize people who provide answers

Nestor Portillo, Microsoft – Worldwide Director, Community and Offline Support

What to Change

Ten Things If I Was Running Your Social Media Measurement Gig

#1 Build a central and localized real-time dashboard

#2 Measure the value of social insights, customer support and innovation

#3 Hire a sexy infographics designer

Ten Things If I Was Running Your Social Media Measurement Gig

#4 Update CEO every month –

#5 Test ½ year experiments

#6 Train and expand staff measurement use

Ten Things If I Would Be Running Your Social Media Gig

#7 Time Management – Steps – spend 1/4 of time on monitoring/1/4 of time on reporting/1/4 of time on insight and 1/4 time on foresight

#8 Time Management – Source – spend 1/3 of time on your owned metrics/your shared metrics/your earned metrics (home, neutral and away game)

#9 Don’t benchmark to competition

#10 Tell Stories and Celebrate Milestones

Moneyball Knows …

Reframing the Game“Your goal shouldn't be to buy players. Your goal should be to buy wins. In order buy wins, you need to buy runs.”

Twitter:@wikibrands

Q&A

Contact me:sean@wiki-brands.com@seanmoffitt