Social Media Performance Measurement and Business Impact
-
Upload
hamill-associates-ltd -
Category
Business
-
view
1.533 -
download
2
description
Transcript of Social Media Performance Measurement and Business Impact
![Page 1: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/1.jpg)
Social Media Performance Measurement and Business Impact
Dr. Jim Hamill and Alan Stevenson
www.energise2-0.com [email protected]
June, 2010
![Page 2: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/2.jpg)
Performance Measurement
• Social media can be ‘cool and funky’ ...... but it should also deliver ROI and positive business impact
• Your social media strategy should be: – fully aligned with and supportive of overall business goals and
objectives– driven by agreed business objectives, KPIs and targets
• On-going performance measurement benchmarked against agreed objectives is critical
![Page 3: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/3.jpg)
Performance Measurement
Should be undertaken at four main levels....
• Web 1.0
• Web 2.0 (Individual Channels)
• Web 2.0 (Overall ‘Buzz’) • Business Impact
![Page 4: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/4.jpg)
Web 1.0 KPIs
Site visits Unique visits Geographical spread of visits Length of time spent on the site Navigation through the site Most/least popular pages Number and quality of site enquiries e-mail registrations e-commerce sales User feedback on the site Links
![Page 5: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/5.jpg)
Web 1.0 measures are still important....... but in a social media era, new performance measures are
required
![Page 6: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/6.jpg)
Social Media KPIs
• There will be ‘winners’ and ‘losers’ in social media. ‘Winners’ will be those companies who fully utilise the interactive power of 2.0 technology for building strong ‘1-to-1’ customer and network relationships
• Those who fully leverage social media for Identifying, Acquiring, Retaining and Growing ‘Quality’ Customers
• In a social media era, the key drivers of future business success are:– Network quality– Relationship strength– Ability to leverage
![Page 7: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/7.jpg)
The Four I’s
![Page 8: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/8.jpg)
The Four I’s
• Involvement – number and quality of people in your various online networks/communities
• Interaction – actions they take – read, post, comment, reviews, recommendations
• Intimacy – affection or aversion to the brand ; community sentiments, opinions expressed etc
• Influence – advocacy, viral forwards, referrals and recommendations, social bookmarking
![Page 9: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/9.jpg)
The Four I’s
Can be measured at two main levels.....
• Individual Social Media Channels/Platforms – the effectiveness/success of each social media channel you use benchmarked against agreed targets
• Web 2.0 (Overall ‘Buzz’) – your organization’s performance or ‘presence’ in the wider social media landscape
![Page 10: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/10.jpg)
Social Media Monitoring Tools
Emerging Social Media Monitoring Tools allow your organisation to monitor online
conversations about your brand, the overall‘buzz’ being created by your social media
activities , who is talking about your brand,where on social media and the sentiments being
expressed.... later
![Page 11: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/11.jpg)
Web 2.0 – Individual Channels
• Most social media channels/platforms provide statistics which allow you to monitor/evaluate the ‘Four I’s’ to a high degree of accuracy
• Some examples......
![Page 12: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/12.jpg)
Cafe Gandolfi
![Page 13: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/13.jpg)
Cafe Gandolfi
![Page 14: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/14.jpg)
Cafe Gandolfi
![Page 15: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/15.jpg)
United Breaks Guitars
![Page 16: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/16.jpg)
United Breaks Guitars
![Page 17: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/17.jpg)
United Breaks Guitars
![Page 18: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/18.jpg)
www.energise2-0.com
![Page 19: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/19.jpg)
www.energise2-0.com
![Page 20: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/20.jpg)
www.energise2-0.com
![Page 21: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/21.jpg)
www.linkedin.com
![Page 22: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/22.jpg)
www.linkedin.com
![Page 23: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/23.jpg)
www.linkedin.com
![Page 24: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/24.jpg)
www.klout.com
![Page 25: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/25.jpg)
![Page 26: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/26.jpg)
![Page 27: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/27.jpg)
![Page 28: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/28.jpg)
![Page 29: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/29.jpg)
![Page 30: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/30.jpg)
Merchant City – Twitter Performance
![Page 31: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/31.jpg)
Merchant City – Twitter Performance
![Page 32: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/32.jpg)
Merchant City – Twitter Performance
![Page 33: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/33.jpg)
Merchant City – Twitter Performance
![Page 34: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/34.jpg)
Social Media Monitoring Tools
![Page 35: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/35.jpg)
Social Media Monitoring Tools
• Monitor and evaluate what is being said, by who, where and what impact – delivers actionable insights
• Three stage process– Aggregate what is being said – Natural language analysis – understand the data– Deliver actionable insights
• We have identified more than 100 Companies in this space
![Page 36: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/36.jpg)
Social Media Monitoring Tools
![Page 37: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/37.jpg)
What they offer
• Search and relevance filters
• Further categorisation and tagging
• Assign Events to the Social Graph
• A variety of channels: web, news, blog, twitter
• Mention Volume, Importance and Demographics
• Analyse sentiment or tone
• Analyse date parameters
• Updates as they happen
![Page 38: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/38.jpg)
Some Tools Are Free but
Relatively Unsophisticated
![Page 39: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/39.jpg)
Google Alerts
![Page 40: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/40.jpg)
Social Mention
![Page 41: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/41.jpg)
Trackur
![Page 42: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/42.jpg)
Others Are Expensive but
Highly Sophisticated
![Page 43: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/43.jpg)
Social Radar
![Page 44: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/44.jpg)
Social Radar
![Page 45: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/45.jpg)
Social Radar
![Page 46: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/46.jpg)
Social Radar
![Page 47: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/47.jpg)
Social Radar
![Page 48: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/48.jpg)
Social Radar
![Page 49: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/49.jpg)
Social Radar
![Page 50: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/50.jpg)
Social Radar
![Page 51: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/51.jpg)
Social Radar
![Page 52: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/52.jpg)
Business Impact
![Page 53: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/53.jpg)
Business Impact
• The ‘Four I’s’ are ‘Lead’ rather than ‘Lag’ measures i.e. they are the main drivers of future business success NOT strategic goals in their own right
• Your social media strategy should be driven by agreed business objectives......– Marketing/communications effectiveness– Marketing/ communications efficiency– Marketing/communications ROI– Customer acquisition, increased sales– Brand awareness– etc
![Page 54: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/54.jpg)
Business Impact
Recommend the use of a Balanced Scorecard approach to ensure that your social media activities are fully aligned with and supportive of overall business goals and objectives
![Page 55: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/55.jpg)
SM Strategy Development
Strategic objectives Targets Key performance indicators (KPIs) Customer segments The key social media actions and initiatives required for ‘getting
there’ Organisational, people and resource issues
Ensure that your social media strategy is fully aligned with andsupportive of your overall strategic goals and objectives with
clear targets and ROI criteria
Social Media Strategy Map
![Page 56: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/56.jpg)
Social Media Strategy Map
Brief statement of your overall 2.0/Social Media Vision and Mission Strategic Objectives Customer Perspective Internal Management Perspective Organisation Perspective
Strategic Objectives KPIs / Targets
KPIs / Targets KPIs / Targets
KPIs / Targets
Customer Group 1
Customer Group 2
Customer Group 3
Customer Group 4
2.0/Social Media Initiative 1 - Objectives - KPIs - Targets - Actions
2.0/Social Media Initiative 2 - Objectives - KPIs - Targets - Actions
2.0/Social Media Initiative 3 - Objectives - KPIs - Targets - Actions
2.0/Social Media Initiative 4 - Objectives - KPIs - Targets - Actions
Organisation People Resource
![Page 57: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/57.jpg)
Thank You
![Page 58: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/58.jpg)
Continue the discussion at
www.energise2-0.com
www.web2-0cpd.com
![Page 59: Social Media Performance Measurement and Business Impact](https://reader034.fdocuments.us/reader034/viewer/2022051818/54c0ddff4a7959c46f8b45d5/html5/thumbnails/59.jpg)
www.web2-0cpd.com