social marketing analytics
DESCRIPTION
This webcast reviews the dTRANSCRIPT
SOCIAL MARKETING ANALYTICS: A New Framework for Measuring Results in Social Media
@johnlovett @jowyang#SocialAnalytics
Thursday, June 10, 2010
ABOUT THIS RESEARCH
• A Collaborative Effort
• Our Methodology
• A Nod To Open Research
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Thursday, June 10, 2010
SPECIAL THANKS TO...
• Our co-authors– Charlene Li, Eric T. Peterson, Christine Tran
• Our Ecosystem Contributors– Lisa Barone, Connie Benson, David Berkowitz, Blake Cahill, Adam Coomes,
Monica Cordina, Bill Gassman, Jascha Kaykas-Wolff, Rob Key, Justin Kistner, Scott Lake, Matt Langie, Alex Mann, Louis Marascio, John McCory, Aaron Neumann, Katie Delahaye Paine, Sean Power, Chris Ramsey, Boaz Ronkin, Shiv Singh, R “Ray” Wang, Alan Webber, Jennifer Zeszut
– Alterian SM2, Biz360, Cymfony, Lithium, Omniture, Radian6, Scout Labs, Social Radar StatsIT, SWIX, Trackur, Trendrr, LugIron, Visible Technologies, Webtrends
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Thursday, June 10, 2010
THE CONVERSATION HAS SHIFTED OFF DOMAIN
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Source: Pew Resource Center’s Internet and American Life Project , October 8, 2009
Thursday, June 10, 2010
FACEBOOK IS THE SECOND BIGGEST SITE IN US
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Source: : Compete.com , January 2010
Thursday, June 10, 2010
50 MILLION TWEETS A DAY ON TWITTER
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Source: TwiGer, February 22, 2010
Thursday, June 10, 2010
COMPANIES ARE CONFUSED
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Source: hGp://www.engagementdb.com
Thursday, June 10, 2010
THE BIG SOCIAL EXPERIMENT
• Many companies are stumbling blindly into social media marketing without a measurement strategy in place
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Thursday, June 10, 2010
THE NUMBERS ARE TELLING...
• “While 2009 may have been a “trial” run for many brands and social media, in 2010, CMOs expect social initiatives to directly impact their bottom lines, without exception.”
• “CMOs reported that 64% of them would increase their social media budgets within the next year.”
• In 2009, 89% of CMOs tracked social media's impact by using standard metrics such as site traffic, pageviews, and number of fans.
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Source: BazaarVoice “CMOs Plan for Higher Social Media Measurability in 2010” December 8, 2009
Thursday, June 10, 2010
...STILL MARKETERS ARE PERPLEXED
• Social media vendors and platforms are proliferating at an astounding rate
• Solutions exist for every channel
• A multitude of choice creates confusion
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Thursday, June 10, 2010
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Thursday, June 10, 2010
Thursday, June 10, 2010
THE BIG PAYOFF IS ELUSIVE
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Thursday, June 10, 2010
THE MARKETING FUNNEL
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SOCIAL
NETWORKS
COMPANY
SITE
Prospects interact in
social networks
Customers interact
on company sites
Advocates may have a
dedicated community
Thursday, June 10, 2010
The vast majority of businesses tracking social media today are using the wrong
metrics!
It’s time for a new Social Media Measurement standard.
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Thursday, June 10, 2010
INTRODUCING...
Social Marketing Analytics is the discipline that helps companies measure, assess and explain the performance of social media initiatives in the context of specific business objectives.
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Thursday, June 10, 2010
THE DISCIPLINE INCLUDES A FRAMEWORK
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Social !
Marketing!
Goals!
Business Objective!
Business Objective!
Business Objective!
Business Objective!
Business Objective!
KPI!
KPI!
KPI!
Business Objective!
KPI!
KPI!
KPI!
Business Objective!
KPI!
KPI!
KPI!
Business Objective!
KPI!
KPI!KPI!
Thursday, June 10, 2010
BEGIN WITH AN INSIDE-OUT STRATEGY
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Thursday, June 10, 2010
THE SMA STRATEGY IN PRACTICE
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Corporate Goals
Business Objectives
Measures of Success
Operational Tactics
Thursday, June 10, 2010
THE SMA STRATEGY: GOALS
• Corporate Goals = Vision
• Understand, embrace & support• Socialize goals widely• Leverage motivating factors
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Thursday, June 10, 2010
THE SMA STRATEGY: OBJECTIVES
• Business Objectives = Strategy
• Foster Dialog• Promote Advocacy• Facilitate Support• Spur Innovation
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Thursday, June 10, 2010
THE SMA STRATEGY: MEASURES
•Measures of Success = Management
• Key Performance Indicators…• Provide context• Set expectations• Mandate actions
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Thursday, June 10, 2010
THE SMA STRATEGY: TACTICS
•Operational Tactics = Execution
• Specific campaigns• Channel preferences• Closed loop feedback
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Thursday, June 10, 2010
USE A MEASUREMENT FRAMEWORK
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Thursday, June 10, 2010
MARKETERS NEED A FRAMEWORK
• A pragmatic approach using metrics derived from sound business objectives
• Minimizes confusion about the value of social marketing efforts
• And delivers tangible results
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Thursday, June 10, 2010
THE FRAMEWORK BEGINS WITH GOALS
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Social !
Marketing!
Goals!
Thursday, June 10, 2010
Social !
Marketing!
Goals!
...FROM GOALS STEM OBJECTIVES
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Business Objective!
Business Objective!
Business Objective!
Business Objective!
Thursday, June 10, 2010
...THEN MEASURES OF SUCCESS
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Social !
Marketing!
Goals!
Business Objective!
Business Objective!
Business Objective!
Business Objective!
Business Objective!
KPI!
KPI!
KPI!
Business Objective!
KPI!
KPI!
KPI!
Business Objective!
KPI!
KPI!
KPI!
Business Objective!
KPI!
KPI!KPI!
Thursday, June 10, 2010
AND FINALLY EXECUTION
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Social !
Marketing!
Goals!
Business Objective!
Business Objective!
Business Objective!
Business Objective!
Business Objective!
KPI!
KPI!
KPI!
Business Objective!
KPI!
KPI!
KPI!
Business Objective!
KPI!
KPI!
KPI!
Business Objective!
KPI!
KPI!KPI!
Thursday, June 10, 2010
A SOCIAL MARKETING EXAMPLE...
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• Goal
• Objective
• Measures
• Tactics
Share
of Voice!
Foster Dialog!
Audience Engage-
ment!
Conversa-
tion Reach!
Driving Consideration
Thursday, June 10, 2010
DIALOG TRUMPS SPONSORSHIP
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Thursday, June 10, 2010
DIALOG REQUIRES…
• Building awareness by initiating the conversation
• Engaging with individuals to determine their response to ideas, thoughts, products and activities generated by the organization
• Responding to individuals on behalf of the brand through genuine interactions
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Thursday, June 10, 2010
Foster Dialog
Conversa- tion Reach
Audience Engage-
mentShare of
Voice
Strategy
Managem
entExecution
Granular Metrics
Thursday, June 10, 2010
DIALOG KPIS IN ACTION• Share of Voice:
• Audience Engagement:
• Conversation Reach:–
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Thursday, June 10, 2010
IF I WERE AT NIKE...
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Share of Voice
Conversation Reach
Audience Engagement
Thursday, June 10, 2010
ADVOCACY IN A SOCIAL WORLD
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Thursday, June 10, 2010
ADVOCACY REQUIRES…
• Encouraging word of mouth activity by promoting and endorsing conversations shared by individuals
• Developing relationships with individuals who have an affinity towards the brand
• Nurturing existing relationships with customers as a proven method of building advocacy within an easily identified segment
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Thursday, June 10, 2010
Promote Advocacy
Advocacy Impact
Advocate Influence
Active Advocates
Granular M
etrics
Strate
gy
Management
Executio
n
Thursday, June 10, 2010
ADVOCACY KPIS IN ACTION• Active Advocates:
• Advocate Influence:
• Advocacy Impact:–
39
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Thursday, June 10, 2010
IF I WERE AT THE NATIONAL BREAST CANCER AWARENESS FOUNDATION...
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Active Advocates
Advocacy Impact
Advocate Influence
Thursday, June 10, 2010
SUPPORT GOES SOCIAL
Thursday, June 10, 2010
SUPPORT REQUIRES…
• Resolving service issues through social media channels via direct company response and crowd-sourcing alternatives
• Expediting issue resolution with quality and integrity
• Elevate satisfaction through flexible support options
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Thursday, June 10, 2010
Facilitate Support
Resolution Time
Satisfaction Score
Resolution Rate
Granular Metrics
StrategyManagem
ent
ExecutionThursday, June 10, 2010
SUPPORT KPIS IN ACTION• Social Media Issue Resolution Rate:
• Resolution Time:
• Customer Satisfaction Score:–
44
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Thursday, June 10, 2010
IF I WERE AT BEST BUY...
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Issue Resolution
Rate
Satisfaction Score
Resolution Time
Thursday, June 10, 2010
CROWDSOURCING INNOVATION
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Thursday, June 10, 2010
INNOVATION REQUIRES…
• Gathering customer insights via social media channels with a clear mission of identifying market needs and service opportunities
• Processing ideas and community feedback as a means to drive products and services requires receptive product managers
• Delivering new products and services to the market with credit and acknowledgement to customers
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Thursday, June 10, 2010
Spur Innovation
Topic Trends
Sentiment Ratio
Idea Impact
StrategyM
anagement
Execution
Gra
nula
r M
etric
s
Thursday, June 10, 2010
INNOVATION KPIS IN ACTION• Topic Trends:
• Sentiment Ratio:
• Idea Impact:–
49
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Thursday, June 10, 2010
IF I WERE AT DELL...
50
Topic Trends
Idea Impact
Sentiment Rate
Thursday, June 10, 2010
THE FRAMEWORK IS A PROCESS
51
Social !
Marketing!
Goals!
Business Objective!
Business Objective!
Business Objective!
Business Objective!
Business Objective!
KPI!
KPI!
KPI!
Business Objective!
KPI!
KPI!
KPI!
Business Objective!
KPI!
KPI!
KPI!
Business Objective!
KPI!
KPI!KPI!
Thursday, June 10, 2010
WHAT ABOUT THE VENDORS???
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Thursday, June 10, 2010
Business Objective Key Performance Indicator Vendors to Watch
Foster Dialog
Share of VoiceAlterian SM2, Radian6, Scout Labs, Statsit, Trendrr, Visible Technologies
Foster Dialog Audience EngagementCoremetrics, Webtrends, Radian6, Scout Labs, Converseon, Filtrbox (Jive), Visible Technologies
Foster Dialog
Conversation ReachAlterian SM2, Radian6, Scout Labs, Social Radar, Statsit, SWIX, Trendrr, Visible Technologies
Promote Advocacy
Active Advocates Biz360, Filtrbox (Jive), Radian6
Promote Advocacy Advocate InfluenceCymfony, Filtrbox (Jive), Radian6, Razorfish (SIM Score), Telligent, Twitalyzer, Visible TechnologiesPromote Advocacy
Advocacy ImpactCoremetrics, Omniture, Webtrends, SWIX, Telligent
Facilitate Support
Resolution RateFiltrbox (Jive), RightNow Technologies, Salesforce.com, Telligent
Facilitate Support Resolution TimeFiltrbox (Jive), RightNow Technologies, Salesforce.com, TelligentFacilitate Support
Satisfaction ScoreForeSee Results, iPerceptions, Kampyle, OpinionLab
Spur Innovation
Topic TrendsAlterian SM2, Cymfony, Filtrbox (Jive), Radian6, Scout Labs, Social Mention, Social Radar, Trendrr, Visible Technologies
Spur Innovation Sentiment RatioAlterian SM2, Converseon, Cymfony, Filtrbox (Jive), Radian6, Scout Labs, Social Radar, Trendrr, Visible Technologies
Spur Innovation
Idea ImpactBiz360, Cymfony, Filtrbox (Jive), LugIron, Radian6, Scout Labs, Visible Technologies
Thursday, June 10, 2010
VENDORS ARE A MANDATORY COMPONENT• The perfect social media measurement vendor
does not exist
• Existing vendors shine at listening, sentiment and trending conversations
• Technologies can facilitate data collection in diverse social media, but there are no silver bullets
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Thursday, June 10, 2010
WHAT ABOUT THE CHANNELS???
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Thursday, June 10, 2010
SPECIFIC CHANNELS ARE SECONDARY TO STRATEGY• Find your audience, wherever they may be
• Recognize influence above the noise
• Promote advocacy and leverage your people
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Thursday, June 10, 2010
A NEW SOCIAL MEDIA MEASUREMENT PLAYBOOK IS MANDATORY• Measure based on specific business objectives
• Use Key Performance Indicators to Become a Measurement Hero
• Adopt the Social Marketing Analytics Framework and make it your own
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Thursday, June 10, 2010
YOUR PRESCRIPTION FOR MEASUREMENT
1. Follow the process: Vision>Objectives>Measurement>Tactics
2. Know that not all channels are equal
3. Define requirements first; then select vendors
4. Develop your social media measurement playbook
5. Make our measurement framework your own
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Thursday, June 10, 2010
DON’T BE THIS GUY, OKAY?DON’T BE THIS GUY, OKAY?
Thursday, June 10, 2010
Thursday, June 10, 2010
WANT TO LEARN MORE?
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Thursday, June 10, 2010
John Lovett, CWASenior Partner, Web Analytics [email protected]://john.webanalyticsdemystified.com@johnlovett
Jeremiah OwyangPartner, Altimeter [email protected]/blog@jowyang
QUESTIONS?
Thursday, June 10, 2010