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Social KPIs & Measurement
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UNDERSTANDING
SOCIAL KPIS & MEASUREMENT
OCTOBER 2014
In the Old Days…
Traditional marketing provided reach
but lacked any reliable means of
measurement
But of course...
With DIGITAL channels,
however, practically
everything can be measured
Social Media Measurement – The
Challenge
The VOLUME of Social traffic has continued to grow over the past decade - and
on a global scale
Whilst Social activity has been long recognised as being good for increasing
visibility (especially when content goes viral) the actual BUSINESS VALUE has
often been less clear
Organisations are understandably now increasingly concerned about measuring
the EFFECTIVENESS of their Social Media activities
There has been much debate over the past few years regarding which METRICS
are actually meaningful from a business viewpoint and how they should be
categorised
Drowning in Oceans of Social Data
trending
reach
Making Connections - what should
we be measuring?
Certain Twitter account followings are not what they appear to be:
3 Essential Capabilities in Social
Ability to monitor
conversations on
own channels, and
also to pin-point
conversations on
the wider web
(Twitter, forums,
blogs, etc.)
by keyword
Listening &
Monitoring
Publishing
(Workflow
management)
Effectiveness: KPI
Measurement &
Reporting
Single view of most important numbers
across all Social Platforms
Ability to create
and manage all
your content
(across several
departments)
and to publish to
multiple
platforms
Measuring Social Conversation
Defined KPIs need to account for
conversations across multiple
platforms and provide an indication
of the ‘health’ of overall social
activities – as well as specific
campaigns
Metrics should be categorised into
awareness/reach, engagement
and conversion
Multiple departments will be
involved in these conversations
And all KPIs do need to be
understood in terms of their context
(channel, season, etc.)
Customer
Service
Corp
Comms
/ PR
Brand /
Marketing
HR
Keeping it Simple – Define your
ultimate goal
Good social media goals should line-up
with the key goals of your organization:
• Increase awareness
Specific KPIs
• Impressions
• Generate leads
• Convert leads to sales
• Retain existing customers
• Reduce costs
• Engagement: likes,
comments, favs, sentiment
• Amplification: shares, RTs,
rePins, etc
• Conversion
KPIs - Focused Social Measurements
Decide which metrics are actually the most important for your brand
@
#
@
@
Influencer
social posts
#KeyHashtagmentions
Influencers
activated
Event Impressions
Device
Impressions
Product Name in
Social Posts
Proactive
Outreach
TARGET
200
250
40
4,000,000
3,000,000
8-10
500
ACTUAL
301
902
29
13,636,343
TBD
15
235
Influencers
were happy
to post about
their new
phones and
cycles.
There was a great deal
of interest in the bike
giveaway. Our
influencers were very
chatty as well.
The rain
dampened
some
influencers
plans to borrow
a bike.
Our influencers were
hyper-active online,
posting thoughts, images
and using our hashtag
liberally.
We had a great deal
of content to
promote, including
our BRAND
MixRadio playlists
and photos of the
Create Space.
While effective, the
amount of time to
proactively
outreach to 500
people was highly
underestimated.
KEY
TAKEAWAY
(Over 2 weeks)
ENTERPRISE LEVEL SOCIAL
ANALYTICS
Social Platform Analytics
All the main platforms provide
free Analytic tools:
•
•
•
•
•
•
Facebook
LinkedIn
Twitter
YouTube
Pinterest
G+
But an enterprise also needs a
way to monitor across channels.
Enterprise Dashboard: Top Level
Social Media KPIs
•
•
•
Dashboard collates and elevates the most meaningful data available to measure the
‘health’ of Social Channels - combining data for all relevant channels
Dashboard gives consistent data presentation across geographic regions
Data is sourced from Google Analytics/Site Catalyst and Simply Measured
Graphic Summaries
Key data trends are mapped as a series of graphs
Allowing Year on Year (YOY) overlay of data
• Engagement by
channel
• Visits versus
Conversion rate
Simply Measured (Data Provider)
Simply Measured provides data reporting across multiple Social platforms. Their data feed
is used to populate the RSA/Stream:20 Social KPI Dashboard
Cost is based on number of profiles, audience size and no. of mentions
Additionally, the Simply Measured subscription allows for more detailed reporting and
graphs, useful for deeper dives by Social Managers
Onsite (Website) Analytics
Vitally, you need an
accurate view of
traffic coming from
social sites
Which Social
platforms are:
• driving traffic
volume
• converting the
best
Free tool
CONVERSATION MONITORING
Key tools to consider
Social Media Conversation
Monitoring
• What is it?
• Finding conversations that are happening that are relevant to
your brand (keyword based).
• Why do it?
•
•
•
•
•
Customer service
Finding brand advocates and influencers
Spotting trends
Monitoring competitor status
Crisis response
• How?
• Various toolsets
Measuring Social Conversation (by
Keyword)
Free tool
www.socialmention.com - Similar free sites include Addict-o-matic and Twazzup
Hootsuite
Free tool
www.hootsuite.com
Salesforce (Radian 6)
Similar products to Radian6 include BrandWatch,
Nielsen Buzz Metrics, Meltwater, Sysomos, Alterian
SM2.
Social Media – Marketing Channel
Summary
SEO
Key Points
Channel Share
around 5-8%
Conversion Rate
Generally Very Low (though there are ways...)
Positive
Cost effective, brand/awareness building, viral potential
Negative
Low CR - generally ineffective as a sales channel
Optimise
Engage meaningfully, focus on current conversations
Social
Display
Affiliate
PPC
Display
email
SEO
CR
Affiliate
PPC
SEO
email
Social
CPA
3 Essential Capabilities in Social
Ability to monitor
conversations on
own channels, and
also to pin-point
conversations on
the wider web
(Twitter, forums,
blogs, etc.)
by keyword
Listening &
Monitoring
Publishing
(Workflow
management)
Effectiveness: KPI
Measurement &
Reporting
Single view of most important numbers
across all Social Platforms
Ability to create
and manage all
your content
(across several
departments)
and to publish to
multiple
platforms
KPIs within Content Development &
Publishing
Co-ordinate Social Media listening and publishing activities across departments by providing a single
solution: combining all key platforms, enabling rapid response to consumers using social channels.
KPI Dashboard to provide
rolled-up view of
Awareness, Engagement
and Conversion data.
Separate KPIs required for
Marketing Corp Comms, Cust
Servs, HR, etc
Performanc
e Targeting
& KPIs
Online tools to manage
all response activities
across multiple
departments.
Social
Management
Strategy
Publishing
Tools
Permissionbased workflow
capabilities with
the ability to
publish to all
required social
platforms
Conversatio
Defined processes for those
trained to engage with
audiences
n
Monitoring
Ability to monitor not just
owned channels but
conversations on the
wider web (where public)
Useful Links
•
•
•
•
•
•
•
•
•
•
•
Free & Cheap Monitoring Tools
Google Analytics
www.hootsuite.com
www.howsociable.com
www.icerocket.com
twittercounter.com
www.socialmention.com
www.twazzup.com
www.addictomatic.com
www.visibletechnologies.com
www.brandwatch.com
www.Klout.com
Enterprise Monitoring/Mgmt Tools
• www.hootsuite.com
• www.salesforce.com
• www.simplymeasured.com
• www.peoplebrowsr.com
• www.sproutsocial.com
• www.buzzbundle.co.uk
• Oracle Social Engagement &
Monitoring Cloud Service
• www.viralheat.com (predictive)
Further reading:
• www.mashable.com
• www.socialmediaexaminer.com
• www.briansolis.com
• www.toprankblog.com
• www.convinceandconvert.com
• www.theantisocialmedia.com
ANY QUESTIONS?
[email protected]
@stream20
uk.linkedin.com/in/patrickwbray
APPENDIX
Further Notes on Terms
Impressions – Only Facebook can measure actual impressions; all other channels are
measured in terms of potential impressions. (Being rather different figures, these numbers
are *not* added together to create a single number)
Bounce Rate – the % of visits that see only one webpage then leave the site
MACRO CONVERSIONS – A measurement of behaviours that have a direct business
impact, such as purchases made or leads received
MICRO CONVERSIONS – A measurement of behaviours that represent an important step
towards a desired business outcome, such as page views, downloads, video views, and
social media engagement (shares, likes etc.). Typically these are indicators of the user
moving down the ‘funnel’ towards the macro conversions desired
• NB. It is for the business to decide what equates to a Macro or Micro
conversion and separate between the two categories.
Key Social Media Metrics Used:
Awareness
Awareness KPIs
Sentiment
1.
2.
3.
4.
5.
Potential Reach / Impressions
Share of Voice: % Brand Mentions
% New Visitors
No. of Mentions
Amplification per post
Awareness
Engagement
Conversion
Data is sourced from Web Analytics, 3rd party listening
tool and/or Social Property.
Amplification – No. of times a post is shared (shares/RTs/RePins, etc.)
Key Social Media Metrics Used:
Engagement
Engagement KPIs
Sentiment
1.
2.
3.
4.
5.
No. of Posts
Engagement Rate per post
Micro Conversion rate per post
Value per post
No. of Visits to website per post
Awareness
Engagement Rate per Post =
No. Chat Signals + No. Amplification Signals
+ No. Applause Signals
Engagement
Conversion
No. Of Posts
• Chat signal = A comment add to an item posted
• Applause signal = Facebook like, +1, Digg etc
• Amplification signal – Share, retweet, repin, etc
Value per Post: e.g. For every 100 white papers downloaded, 11 people purchase
services worth £80. This means a white paper download can be valued as
[(11*80)/100] Web analytics tools that record the value of actions like this allow
the value of a single post to be defined.
A Micro Conversion might be a white paper download or video play
Key Social Media Metrics Used:
Conversion
Sentiment
Examples of a Macro Conversion might be a sale or a job application
received
Awareness
Engagement
Conversion
Conversions KPIs
1.
2.
3.
4.
5.
No. of Clicks
CTR% (click thru rate)
CR% (conversion rate)
No. of Conversions
Average Macro Conversions Value
Key Social Media Metrics Used:
Sentiment
NB: Sentiment is only available in English language at present.
Data is sourced from 3rd Party Listening Services
Sentiment KPIs
Sentiment
1. Sentiment Index
2. Competitor Share of Voice (Mentions % )
3. Competitor Sentiment Index
Awareness
(Positive Conversations – Negative Conversations)
Sentiment Index =
(Positive Conversations + Negative Conversations)
Engagement
Conversion
Competitor Share of =
Voice (Mentions %)
No. Of Brand, Product, Topic mentions
No. Of Competitor Brand, Product, Topic mentions
+ No, of Brand, Product, Topic Mentions
(Comp Pos. Conversations - Comp Neg. Conversations)
Competitor
Sentiment Index =
(Comp Pos. Conversations + Comp Neg. Conversations)