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Some of the Slideshare presentations that I have uploaded were not created by me. They are all worth having a look at. I am Stephen Darori on Linkedin. If you think we have or could have some synergy now or in the future.do Send me an invitation to connect on Linkedin
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Social Media Analytics
Taylor PrattRaven Internet Marketing Tools
@RavenPratt | raventools.com/oms
What is the ROI of social media?
The key to social media success is understanding your audience.
Don’t get distracted!
Nielsen’s State of the Media:The Social Media Reporthttp://raven.im/nielsensm
Nearly 4 in 5 active Internet users visit social networks and blogs.
70% of active online adult social networkers shop online, 12% more likely than the average adult user
Socially engaged consumers spend 20 to 40% more than other customers.
53% of active social networkers follow a brand.
How do consumers access social media?
• 97% - Computer• 37% - Mobile Phone• 3% - Gaming Console• 3% - iPad• 2% - Internet-Enabled TV• 2% - E-Reader• 1% - Handheld Music Player
Are you ready?
What is the ROI of social media?
According to Oliver Blanchard, you’re asking the wrong question.
What is the ROI of [insert activity here] in social media?
Oliver BlanchardThe BrandBuilder BlogAuthor of Social Media ROI
Social Media Marketing Process
Discovery
Listening
PlanningExecution
Measurement
DISCOVERYSocial Media Marketing Process
Start Monitoring
Brand Mentions Product
Mentions
[Keyword] Mentions
Competitor Mentions
Influencer Mentions
What to Identify
Social Networks
Forums
Associations
Key Influencers
Popular Topics
Tools That Can Help
LISTENINGSocial Media Marketing Process
Understand your audience!
How are your customers using social media?
Where are they participating?
Do they interact with other companies?
What are they already saying about you?
What is their activity level on each social network?
Who are the key influencers on each network?
Save time and money by properly evaluating potential advocates.
Create a Scorecard
Advocate Share of Voice Reach Topics Customer Overlap
Peter Parker 5% 50,000Arachnoids, Red Heads,
GoblinsMedium
Hulk Hogan 2% 25,000 Tank Tops, Weight Lifting High
Eric Cartman 12% 120,000 Cheesy Poofs, Racial Slurs Low
Don’t overlook social media as a product innovation hub.
Monitor both your brand, your competitors’ brands and keyword mentions for customer pains.
PLANNINGSocial Media Marketing Process
Step 1: identify your business objectives
Types of Social Media Goals
• Engagement• Brand Recognition• Reach• Share of Voice• Sales• Brand Loyalty
• Customer Support• Product
Development• Brand Sentiment• Brand Advocates• Brand Trust
Get more specific!
• Reduction in sales cycles• Reduction in customer support costs• Number of product improvement suggestions
from [social network]• Increase in product reviews/ratings• Number of people in [specific location] who
follow us on Twitter
Other KPIs to Consider
• Volume of consumer-created buzz
• Seasonality of buzz
• Rate of virality
• Embeds/installs
• Increases in searches
• Ranking improvements
• Interaction/engagement rate
• Number of interactions
• Store locator views
• Registrations by channel
• User-initiated views
Step 2: identify your value add
Wal-Mart:Low Prices
Southwest Airlines:Freedom
Harley Davidson:Rebellion
Step 3: define your level of commitment
EXECUTIONSocial Media Marketing Process
How is social media impacting your other online marketing activities?
MEASUREMENTSocial Media Marketing Process
Brand Awareness
Brand Recognition
Share ofVoice
ReachEngagement
To measure Share of Voice compare brand mentions to competitors.
Source: Web Analytics Demystified & Altimeter Grouphttp://bit.ly/pratt1
To measure Engagement, measure participation.
Engagement = Engagement[Social Network] Interactions
Total Views
Source: Web Analytics Demystified & Altimeter Grouphttp://bit.ly/pratt1
To measure Reach, compare audience participation to your audience reach.
Source: Web Analytics Demystified & Altimeter Grouphttp://bit.ly/pratt1
Customer Oriented Goals
CustomerSupport Brand Sentiment
BrandAdvocates
ProductDevelopment
Measuring Customer Support
Reduction in Support
Costs
Reduction in On-Site Support
Increase Resolution
Rate
Improved Customer
Satisfaction
Increase Resolution
Rate
Leads Generated by Support
Measuring Brand Sentiment
Sentiment by volume of posts and impressions
Number of positive reviews generated
Number of mentions of your brand’s value add
Average resolution time to reputation crises
Measuring Product Innovation
Number of new product ideas
Number of new product ideas built
R&D time savedTraditional
research cost savings
Measuring the success of your brand advocates fulfills two goals:
1. Provides an understanding of the ROI you receive
2. Provides you with data to better incentivize advocates
It is okay to reward advocates for their hard work. Wouldn’t you want to be rewarded?
Use event tracking in Google Analytics to quickly assess the virality of your content.
http://gaconfig.com
The key to successful social media measurement is asking questions.
Thank You!
Taylor PrattRaven Internet Marketing Tools
@RavenPratt | raventools.com/oms