The Bleeding Edge of Social Media Measurement
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Transcript of The Bleeding Edge of Social Media Measurement
The Bleeding Edge of Social Media Measurement
Kami Watson Huyse, APR, @kamichat
Some rights reserved by Stéfano Obregón
Kami HuyseFounder
zoeticamedia.com
@kamichat
• Diagnose: Determine what works and what doesn’t• Prioritize: Build into planning, make decisions• Evaluate: Demonstrate ROI, Business Value
Diagnose Prioritize Evaluate
Purpose of Measurement
Where Measurement Starts
SMART Objectives–Specific
–Measurable
–Attainable
–Results-Oriented
–Time Bound
http://bit.ly/SMARTObjectives
The Things We Measure
Activities
Attention
Awareness
AttitudesActions
Activities
Are all about YOU:
• How many posts?• How many comments?• How many tweets?
Attention
• How many visits?• How many fans?• How many interactions?• Estimated reach• Demographics
Awareness
• Do they LIKE or comment?• Are they mentioning you?• What is your share of voice? • How often do they visit?• Who is referring?
Attitudes
• What is the sentiment?• Are they committed?• Are they satisfied?• Would they recommend?
Actions• What are the financial results?• What is the value of customers?• How are processes impacted?• What innovations emerge?• What about ROI?
Define ROI
What is ROI?
ROI DefinedReturn on Investment (ROI) is a measure of a company’s profitability, equal to a fiscal year’s income divided by equity and long-term debt; and, ROI measures how effectively the organization is using its resources to generate a financial profit.
Revenue Events
Objective:Increase registration for this year’s conference
SMART Objective:By two months prior to the event, over 100 people will have registered using the “friends of online influencer” code and we will be 15 percent ahead of usual registration numbers.
Calculating Revenue
Ticket price $150x100
$15,000 -$1,000 staff time and outreach
NET: $14,000
Balanced Scorecard: Beyond ROI
Financial
Customer
Process
Innovation
4 ways to Measure SMResults
FinancialSalesRevenue EventsCorrelation and Regression
CustomerCost of SupportAverage Lifetime ValueImpact on Value
ProcessLeads and ClosingFulfillmentChannel Success
InnovationNew Ideas AdoptedEmployee Turnover RateEmployee Satisfaction
Results
Financial
Revenue Impact of a Webinar
• Activities: – Write a blog post about the webinar– Put a short post on LinkedIn with a link to the
blog post– Tweet the link to the blog post
• Cost: $150• Return: 100 leads
– An average cost of a digital lead $40 x 100 = $4,000– OR track actual conversions for true ROI
The control case
Isolate the variables– Audience segmentation– Timing or location segmentation– Message segmentation– A/B Testing
Channel Revenue
Channel Visits YTD Visits Revenue YTD Revenue
$/Visit
Facebook 3,390 9,236 $ 2,433.00 $ 4,025.00 $ 0.72
Blog 357 1,282 $ 56.00 $ 56.00 $ 0.16
Twitter 41 250 $ 8.00 $ 8.00 $ 0.20
Multi-Channel Attribution
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Types of Attribution
• Last Click Attribution• First Click Attribution• Multi-touch Attribution
Source: Avinash Kaushik
Source: Adobe Digital Index
Source: Adobe Digital Index
Source: Adobe Digital Index
Source: Case Study by Edgewater Technology Using WebTrends
Predictive Analysis
Some rights reserved by queercatkitten
Correlations
Immigration: 1800-2000
Regression Analysis
Finding a Proxy
Tweets and Hollywood HSX
Exposure = AwarenessFollowers = Results
Klout = Influence
Analysis Tools
DIY: Multi-Channel Attribution Spreadsheet
Customer
Pure Michigan Site Survey
Customer Lifetime Value
Source: Avinash Kaushik
Segment by Channel
Source: Avinash Kaushik
The REAL Value
Influence Tools
KRED
And more…
1st Generation 2nd Generation 3rd Generation
Proprietary Frameworks
SCORE SAY SEE
Relationship Mining:NextGen Influence
http://www.tellagence.com
Process
Social Lead Cultivation
Monitoring For Leads
“strategic” “marketing” “research” “metrics” “clients”
Unstructured Data Collection
Source: Lead Confidential
Unstructured Data Collection
Source: Lead Confidential
Data Collection Tools
Anas Younes, MD: LymphomaMD Anderson
Problem: Too few people signing up for clinical trials
Objective: Build reputationAnd clinical trial base
Results: Quadrupled clinical trial patients
Revenue and CostCampaign:•Online Campaign Only•Influencer Outreach
Measurement:•Impressions•Survey
Results:•Cost per impression
• Television: $1• Social Media: $.22
•ROI$2.6 million in revenue http://bit.ly/JTAResults
ConversionPeople: PR professionals and social media consultants looking for inexpensive monitoring solution for clientsObjective: 5,000 registered users, 500 users to repeat weekly usage and 50 paying customersStrategy: Reach out to 10 top-tier bloggers, and send out press releaseResults: 102,394 unique users, and 7,874 registered users over 1 week post launch
•Launch:January 2009
SOLD:February 2010
$4 million SOLD!
Some rights reserved by affiliatesummit Some rights reserved by shelisrael1
Track Value by Keyword or Visit
Innovation
Generate Ideas
• Over 17,882 ideas submitted• 738,848+ votes• 96,881+ comments• 515+ ideas implemented
Recruiting
Source: ROI of Social Media
out of8 10
Demo-tivated
Work Around
Leave0%5%
10%15%20%25%30% 26%
14%
3%
Limiting Social Media
Social Media in the Workplace
21%
79%
Turn Down Job 21%Take Job 79%
Trust is more important than $$
Talent Acquisition LinkedIn
• Unqualified Resumes• Recruiter Fees• Expatriate CostsLink Humans by Laurent Brouat
Measurement Requires Data
Set Up Your Analytics
Analytics ToolsYour Site
Competitors
Monitoring Tools
Social Network Measurement
Data Collection Tools (CRM)
Recommended Reading
http://scr.bi/AAAMeasurement
Kami HuyseZoetica, CEO
zoeticamedia.com@kamichat
Links for this presentation:http://www.diigo.com/
list/kamichat/mpb2bpreso