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Metrics and MeasurementThe Hunt for Social Media ROI
Scott SchablowChief Strategic Officer
Provenance Digital Media
Opening Thought
“ Social media is like teen sex.
Everyone wants to do it.
Nobody knows how.
When it’s finally done there is
surprise it’s not better.” Avonash Kaushik – Analytics Evangelist, Google
Measuring ROI
Traditional Measurement• Investment $30,000• Yield = 1000 leads• Cost Per lead = $30
Measuring ROI
Social Media Measurement• Comments + Conversation + Facebook x Twitter = Success
Huh?
Measuring ROI
“What do you want to measure the “social” or the “media” - David Alston of Radian6
• Media: traditional measurement = quantitative• Social: untraditional measurement = qualitative
What Do You Want To Measure?
Number of influential blogs that linked to us.
Increase in Pagerank Reduction in complaints
Number of repeat, unique visitorsNumber of new ideas that were implemented
Number of Tweets about us Number of new leads
Number of leads converted into salesNumber of new insights gained about customers’ attitudes
Reduction in support costs
Amount of increase in satisfaction
What Do You Want To Measure?
Meaningful Metrics• 20,000 Twitter followers• 200 Interested, engaged followers who are qualified
prospects
What Do You Want To Measure?
Meaningful Metrics• What metric can you measure that management considers
valuable?• Consider that indirect benefits often lead to sales (they’re just
harder to measure)
What Do You Want To Measure?
Meaningful Metrics• Media: traditional measurement = quantitative• Social: untraditional measurement = qualitative
What Do You Want To Measure?
Meaningful Metrics• Media: bean counters & cash = quantitative• Social: untraditional measurement = qualitative
What Do You Want To Measure?
Meaningful Metrics• Media: bean counters & cash = quantitative• Social: authority & loyalty = qualitative
What Do You Want To Measure?
Meaningful Metrics• Quantitative - $ales, qualified leads, re-acquisitions • Qualitative – authority, interaction, loyalty, satisfaction,
feedback
What Do You Want To Measure?
Meaningful Metrics often are:• Intangible benefits• Reasonably likely to create sales, loyalty and brand
evangelism
Quantitative ROI Cases
SeaWorld San Antonio's
Journey to Atlantis social media campaign
Quantitative ROI Cases
SeaWorld: Journey to Atlantis
Campaign Objectives:• Build relationships with the coaster community• Build awareness of Journey to Atlantis• Assist in driving visitation to the park
Quantitative ROI Cases
SeaWorld: Journey to AtlantisCampaign Strategy:• Initial research phase• Targeted list of 22 coaster enthusiast blogs & forums
identified• Treat coaster bloggers as a VIP audience• Content rich Web site was deployed as the hub for content
and information
Quantitative ROI Cases
SeaWorld: Journey to AtlantisImplementation:• Eleven videos & a 45-photo portfolio that spanned from
construction to opening day were created• Deployed with a Creative Commons license on YouTube, Flickr
& Veoh• Used on the SeaWorld Coasters multimedia site • Coaster Enthusiast group were invited to attend the media
launch day and to be among the first to ride Journey to Atlantis
Quantitative ROI Cases
SeaWorld: Journey to AtlantisDesired Results:• Links from coaster sites• Attendees at the media day• Ongoing contact.
Quantitative ROI Cases
SeaWorld: Journey to Atlantis
Actual Results:• Of 22 sites identified, 12 covered the ride, including Theme
Park Insider• The campaign received 50 links from unique Web sites, 30
were from coaster enthusiast sites • The American Coaster Enthusiasts group brought 30 members
to ride Journey to Atlantis on media day. These riders later left positive comments on YouTube videos
• SeaWorld San Antonio attended its annual meeting in 2008. The relationship is ongoing
Quantitative ROI Cases
SeaWorld: Journey to AtlantisActual Results:• Budget for the campaign about $44,000• Overall, the cost per impression for the social media
campaign was $0.22 versus $1.00 for television• Used an internal formula that applies a value to each visitor
to the park (per cap rate)• The online group represented more than $2.6 million in
revenue.
Quantitative ROI Cases
Southwest Airlines“Southwest Airlines attributes more than $1 million in additional
ticket sales to it’s presence on Twitter”
Marriott "Marriott has made more than $5 million in bookings from
people who clicked through to the reservation page from Marriott's blog."
Qualitative ROI Cases
Qualitative ROI CasesCampaign to Innovate Products & Service
Success Metrics Goal By
Amount of good suggestions that company hadn’t thought of
N amount of suggestions collected per month and N amount that you actually implement
Starbucks
Amount of above that you actually implement
Qualitative ROI Cases
Qualitative ROI Cases
Qualitative ROI Cases
Qualitative ROI Cases
Success Metrics Goal By
Amount of influential blogs linking to you
N Pagerank by a certain date
CopyBlogger
Pagerank relative to competitors
Nth position in Pagerank relative to competitors by a certain date
Amount of organic traffic per month
N% of organic traffic per month
Amount of traffic that converts to sales
$N per month attributable to referrals from blog
Measuring Authority
Metrics – Tools of the Trade
• What do you want to measure?• Web analytics fall short for social media
Metrics – Tools of the Trade
Social Media Metrics
Plug-in for Google Analyticshttp://userscripts.org/scripts/show/35080
Metrics – Tools of the Trade
Metrics – Tools of the Trade
Metrics – Tools of the Trade
Metrics – Tools of the Trade
Metrics – Tools of the Trade
Metrics – Tools of the Trade
Metrics – Tools of the Trade
Metrics – Tools of the Trade
Metrics – Tools of the Trade
Metrics – Tools of the Trade
Metrics – Tools of the Trade
Metrics – Tools of the Trade
Metrics – Types of ROI Measurement
1. Post-project ROI
2. Efficiency gains or cost avoidance
3. Proxy Metrics
4. Product/Service/Process Innovation
5. Improved Conversions
6. Digitalization of knowledge
7. Social capital and empowerment of the workforce
Metrics – Types of ROI Measurement
Some quick tools and suggestions:• Create campaigns & events specifically for social media. Then
customize your analytics software to make it easy to track those events.
• Track a specific Twitter traffic campaign or DiggBar URL with campaigns.
• Organize a dashboard and set up email reports. To get specific information on social media, have traffic stats from top social media websites (i.e. Digg, Facebook, Twitter, etc.) emailed to you so you can see it all in one place.
Summary
• Find out what metrics a viewed as valuable by management
• Determine what metrics you can measure• Report it in a way that clearly demonstrates
the value (diagrams, charts, etc.)• Evaluate successes and failures and then take
another small step forward
Join the Conversation
• [email protected]• [email protected]• Blogs: www.SchaBlog.com www.PrinciplesOfProvenance.com• Web: http://www.ProvenanceDigital.com
• Twitter: @ScottSchablow• FF: http://friendfeed.com/sschablow• FB: http://www.facebook.com/profile.php?id=507966818• LI: http://www.linkedin.com/in/schablow• Almost anywhere as sschablow or ScottSchablow
