Measuring Social Media Effectiveness

Connie Bensen

@cbensen

Social Media Plus

May 25, 2010

Agenda

• The New Measurement

• Tools & Ownership

• Five Step Process

• Metrics & Key Performance Indicators

• Case Studies

THE NEW MEASUREMENT

Everything is Measurable

Your SiteWeb Analytics

TwitterBlogs Wikis

Facebook

LinkedIn

Message Boards

YouTube

Opportunities of Monitoring Social Media

Brand Audit

Corporate MarketingPublic Relations

Competitive InsightProduct DevelopmentSearch Engine Optimization

Customer ServiceSocial Media Campaigns

Sales – Lead Gen

Time

Enga

gem

ent

TOOLS & OWNERSHIP

Tools ???

Social Media Monitoring Tools

Blogs Google Alerts, Yahoo Alerts

Comments Backtype

Message Boards Board Reader, BoardTracker

Twitter TweetBeep, TwitterSearch

Social Bookmarking StumbleUpon, Digg, Reddit, Delicious

Social Media Search Engine

SocialMention, Serph, Keotag

Social Media Monitoring Tools (continued)

Multimedia Search YouTube, Flickr

Custom Feed Social Media Firehose (Yahoo Pipes)

Professional Tools Trackur, Techrigy SM2, Radian6, Visible Technologies

Website Traffic Google Analytics, Quantcast, Alexa, Compete

Blog Traffic & Backlinks

Technorati, Wordpress

Dashboard Netvibes

Collect

Alterian SM2 indexes the entire social media universe, across the globe and across all platforms.

StoreAlterian’s Social Media WarehouseSM, created in 2007, contains over 5 billion social media mentions, blogs, tweets, posts, images and conversations.

UnderstandAn incredibly powerful and intuitive tool, the AlterianSM2 User Interface enables clients to visualize, analyze, communicate and share findings. Turn content into actionable insight.

The SM2 Technology Components

Over 5 Billion Results

Who Should do This?

Holistic Approach

FIVE STEP PROCESSMeasurement

5 Steps to Success

1. Listen using a comprehensive tool

2. Decide on Objectives & Plan Strategy

3. Objectives will Define Metrics

4. Benchmark & Execute

5. Measure, Report & Refine

1. Listen

Consider:

• Daily Volume• Social networks being used• Locations of communities online & offline• Sentiment & Tone

Daily Volume

How much are

people talking

about your

brand?

6 months: 137, 113

Trending avg: 732/day

Volume: Social Channels

Where are they

talking?

Where are conversations taking place online?

Focus on places consumers are most active.

Plan your strategy.

Where does your audience reside?

Identify new stakeholder groups. Grow membership base.

How do consumers feel about your brand?

Find out what they do or don’t like...

and who’s letting you know.

How polarized are the conversations?

2. Choose Objectives - Value and ROI

Use Case Value/ROI

Brand Audit Identify opportunities in Social Media

Social Media Campaigns Measure progress of Social Media efforts

Corporate Marketing Increased sales & rate of return on ad spend

Customer Service Increased satisfaction, brand loyalty, awareness

Competitive Insight Identify differentiating features & innovate

Public Relations Efficient use of time & identify influencers

Sales – Lead Generation Increased sales & shortened sales cycle

Search Engine Optimization More effective SEO & organic visibility

Product Development Reduced market research costs

HR Reduced hiring costs & less churn

3-4 Define Metrics and Benchmark

Goals will meet the objective(s)

Percentage increase or decrease of desired results

Examples:

15% increase in word of mouth

10% decrease in demand on call center

5% increase in leads from social channels

15% cost reduction in product development costs

Benchmarking sets the stage.

Potential Goals

• Bring outside ideas into organization• Generate more word of mouth• Increase customer loyalty• Increase product/brand awareness• Improve new product success ratios• Improve public relations effectiveness• Reduce customer acquisition costs• Reduce customer support costs• Reduce market research costs• Reduce product development costs

Tip – Choose 1 or 2 to start with

5. Monthly Reporting

• Report on Objectives– established from goals of the position

• Qualitative– Trends in members, topics, discovery of new communities

• Quantitative– Benchmark based on previous report

• Web Analytics – unless someone else is tracking them

• Recommendations – Based on interactions with customers

Comparing Volume

Blue is specifically about Tiger

Represent a specific proportion of total conversations

METRICS & KPI’S

Customized KPI’s

Social Reach Indicators

Alterian generated content

views on Slideshare, whitepaper downloads

Blog subscriptions

Community Health Indicators

Volume of conversations about Alterian products

Social Influence/Reputation Indicators

Reach of participation in:

speaking, training customers/staff, collaborations

CASE STUDIES

After 3 months - Customer base increased by 57%

• Eliminated cold calling• Multiple demo and pricing requests per day• Increased sales staff• Established brand visibility

After 6 months: Increased by 269%

• Freemiums converting without entering sales funnel

• Techrigy acquired by Alterian

At 1 year: Increased by 840%• expanding Twitter engagement

across the enterprise

Techrigy’s Value and ROI of a Twitter engagement

Increasing Customer Engagement by Listening

• 9 sites across Texas• 18,000 staff, 90,000 patients• www.mdanderson.org

Background

• Started monitoring in 2007 using free tools• Monitored online conversations about:

– Cancer experiences– Online discussion of their treatment– Their brand and cancer related topics– The communications they were creating

“Our desire to get closer to patients and the generalpublic online, and engage with those who were sociallyconnected, meant we had to be able to monitor a much larger number of sources”.

Jennifer Texada

ROI of Patient Referral at MD Anderson

Campaign goal:

To increase the number of doctors who registered with the hospital’s online electronic medical records system and in turn increase the number of patients referred.

Tracked spread of campaign using SM2 and web analytics

Noted a 9.5% increase in patient referrals in 3 months

“This was a real eye-opener to how social media could

benefit the business,” Texada said. “We could see which

activity made most impact and which spread fastest.”

Evaluating Public Education

• Strategy planning• Used SM2 to review historical data

– Decided to not run the same Prostate Cancer Awareness program

– They ran a more general campaign on men’s health

• Healthy eating• Eating on a budget• Exercise

Resulted in significantly more traffic

Resources

• ROI Series of 10 white papers – http://AlterianSM2.com– Freemium version of SM2

• Groundswell by Charlene Li and Josh Bernoff

• Measuring Public Relationships by Katie Delahaye Paine

• Putting the Public Back in Public Relations by Brian Solis & Deidre Breakenridge

• Personality Not Included by Rohit Bhargava

• Trust Agents by Chris Brogan & Julien Smith

Connie Bensen@cbensen

ConnieBensen@gmail.com

http:communitystrategist.com

Director of Community Strategy, Alterian