Social Media Analytics : Return on Involvement

Adnan AliHead of Web Strategy

Vopium A/S

SOCIAL MEDIA IS NOT FREE

INVESTMENT vs INVOLVEMENT

Investment

Financial Impact

Action Reaction Nonfinancial Impact

Missing Insights on Involvement

… to help fund $1 billion in marketing cost cuts by 2016, the company will be leaning more heavily on lower-cost digital marketing and easing up somewhat on pricey broadcast ads.

Marc PritchardGlobal Marketing OfficerProcter & Gamble (P&G)

Barriers to Measuring Revenue Impact of

Social Data

Proliferating Social Media

Challenges to Insights

Source: Altimeter

Social Data is New & Different

Primary Business Impact

Source: Altimeter

Business Use Cases for Social MediaSource: Altimeter

How to Measure Revenue Impact of Social Media

Anecdote

Specific examples where social media was known to influence a sale or sales

Correlation

Comparing two data sets (for e.g. likes and revenue) to determine whether there may be a relationship

Multivariate Testing

Comparing one group that was exposed to social media content with another group that was exposed to different or no content

Links & Tagging

Short links and tags / cookies for conversion attribution

Integrated

Refers to apps or SaaS offerings with integrated analytics

Direct Commerce

Addition of an ecommerce storefront to a social platform such as Facebook; frequently known as “fCommerce”

BUSINESS

• Sales Channel: Indirect or Direct• Delivery Medium: Online only or Mixed• Culture: Conservative or Experimental• Target Market: B2C or B2B

PRODUCT

• Type: Product or Service• Sales Cycle: Short or Long• Consideration: Low or High

MEDIA• Paid (taggable)• Owned (taggable)• Earned (not always taggable)• Shared (not always taggable)

CUSTOMER• Demographics: Where & Who they are• Socialgraphics: Where & How they interact

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