Reaching Social Media Monitoring & Measurement ROI in 35 minutes

Marshall Sponder

IntroductionMarshall Sponder is the CEO/Founder of WebMetricsGuru INC , a Social Analytics Solutions Design, Social Media Analytics, Web Data Analysis and SEO/SEM Practice focusing on cutting edge market social research and social media trend analysis.

Marshall is Board Member Emeritus at the Web Analytics Association and Member of the Search Engine Marketing Professionals Organization (SEMPO) and teaches Analytics at Rutgers University and the University of California, IRVINE extension (UCI)

He’s also the author of Social Media Analytics: Effective Tools for Building, Interpreting, and Using Metrics, published by McGraw-Hill, 2012.

• Where do I Start? Platform?• Tools vs. Process vs. Strategy? • What’s a Fan Worth?• How much Time/Money should I spend?• Where’s the ROI?

5 Questions

• No Process• Success Undefined• 90 % Unstructured • Time Consuming• Hard to do, Scale, esp. at the beginning

5 Observations

• Platforms• Use cases • Level of maturity (for ROI)• Social Media Analytics Plans • Goals, Strategies and Tactics• Dashboards• New Approaches• Practice Examples

Getting from 0 to 60 mph in

35 Minutes

4 types of

platforms

Self-serve

Hybrid

Full Service

Internal

Platform Definitions Self serve – Brandwatch, Radian6, Alterian SM2, etc.

Full service – Brandtology, Synthesio, Converseon, Integrasco, etc.

Hybrid – Additional Reporting included with Self Serve.

Internal – Some companies build their own listening and analytics platforms for internal/private use.

4 Types - Definitions

Thoughts on Choosing to Measure SM1. Hard, Initially – need to access what your goals are

(stakeholder consensus)2. How are you marketing products and services (and plugged

in Social Media)?3. Do you have a model on how customer interaction is meant

to happen? How is it actually happening?4. How are you measuring each interaction? Can you?5. What are the two or three things you must know about

(KPI’s) in order to know how well your efforts/programs/campaigns are doing with Social Media?

6. How do you “frame” your business goals in such a way that you can determine the best platforms / tools / processes / people to employ? (hint, this is what I do)

Use Cases & Objectives

#1 -What do you want to do?• Brand Analysis

• Sentiment Analysis

• Market Research

• Campaign Management

• Seo & Sem Social Media

• International Monitoring

• Competitive Analysis

• Influencer Identification

Consumer Research

Listening for Insights

Rich Categorization

NLP (machine learning)

Social Media Coverage*

PR Monitoring & Support

Listening and Engagement

Traditional Media

Coverage*

Influencer Identification

Topic Categorization

Social CampaignsAutomating of the

engagement

Workflow

Operational Metrics

Low-Latency

#2 Why? Use case will highlight needed toolset features

Adapted from Gary Angel – Semphonic.com

Uses of Social

Customer Support

Public Relations

Campaigns

Communities

Social CRM

Product & Customer Research

Advanced NLP Analysis

Customer Data

Integration

Engagement & Attrition

Listening & Web

Analytics

Listening & Influence

Categorization

Operational Metrics

# 3 Which tools?

…might need more than one

…depends on framing what and

why’sCare of Gary Angel – Semphonic.com

What can you operationalize? Consider your Social Analytics ROI Maturity Level

Size of Your Business often determines how many SM Channels are active

1. Need to be active where your customers/followers are.

2. Need to determine what are the most profitable channels to be active in.

3. Need to come up with a business strategy that maximizes the communications within those channels.

4. Need to come up with a Measurement Strategy that is aligned with the business strategy.

5. Need to tightly MAP/TIE the business / measurement strategy to brick and mortar transactions whenever possible.

What level of Maturity is your organization operating at?

1. Dormant 2. Testing 3. Coordinating 4. Scaling & Optimization 5. Empowering

Resistant to any use of social technologies due to unwillingness to participate or "analysis paralysis"

Individuals or departments test in isolated pockets

Management begins to coordinate across teams and departments

Organizational shift toward growing and improving social applications

Organization empowers all relevant employees; fosters & rewards top performers

Source: Forrester Research

Example (maturity): AMEX Measureable ROI

Tie Social Media (geo location / Mobile) with the Point of Sale appears to be the Holy Grail – esp. for Retailers – others need to be more creative about tie-ins and measurement strategies.

Example: American Express YourBuzz Measureable ROI

Example: American Express SearchManager Measureable ROI

Link all your activity to the AMEX card – also provide services to them (which are measureable) – Smart!

Mature Organizations are selective about the technologies employed and how they are used – workflow and collaboration tools are highlighted

Source: Collective Intellect

Map Marketing Strategy to Site /Business Enablement Strategy – then Score the Results – HEARDABLE does part of this job for you using Site Metadata

According to Heardable – Dell gets a B, even though it’s clearly a leader in Social Media ROI (at least from the Retail/ Merchandizing perspective)

According to Heardable – Dell gets a B, though it’s clearly a leader in Social Media ROI (at least from the Retail/ Merchandizing perspective), it may not have mapped is content enablement strategy with it’s social and analytics enablement strategy

Planning for Success

THE PLAN = GOALS + STRATEGIES + TACTICS

Very basic business plan with measurement hooks –

Examples of Typical Business Goals (Business Objectives)

Increase Market Share by X% (this/next Y/Q)Increase Business Income/Profit by X% (this/next Y/Q)Save X% of our quarterly spent (this/next Y/Q)Improve Productivity by X% (this/next Y/Q)Improve Services provided by X% (this/next Y/Q)Increase Company Profit by X% (this/next Y/Q)Improve Team Productivity by X% (this/next Y/Q)

Business Goal Target

Align Marketing and Measurement

When the foundation of a house is not set right – the walls crack. Having the right Framework helps

Marketing Measurement

Biz/Measurement Plan – WebMetricsGuru INC

My GOAL: Increase Business Income 1600%+ this year

among Corporate Business Execs I speak with

Conferences and Book Signingsat

2012during

through My writings, virtual appearances, and in person presentations.

Biz/Measurement Plan – WebMetricsGuru INC

I guide my audiences and customers to

Better understand and Invest in the best technologies, process and people by retaining me

to help them

Design and implement successful online social customer intelligence listening projects

All over the worldWhere

Biz/Measurement Plan – WebMetricsGuru INC

Where my success will be judged by (KPI’s)

• % of new customer signups retaining me

• % rise in my bank account balance this quarter

• % increase in online buzz

My Sample DashboardDate Latest Clients

Jan abc

Jan efg

Jan hij

Feb klm

Feb nop

Mar qrs

Mar uvw

Date Bank Deposit

Jan $$$

Jan $$$

Jan $,$$$

Feb $,$$$

Feb $,$$$

Mar $$,$$$

Mar $,$$$ Jan Feb Mar Apr0

100200300400500600700800900

$$$$ in Bank Deposits

1/1/2011

1/16/2011

1/31/2011

2/15/2011

3/2/2011

3/17/2011

4/1/2011

4/16/2011

5/1/2011

5/16/2011

5/31/2011

6/15/2011

6/30/2011

7/15/2011

7/30/2011

8/14/2011

8/29/2011

9/13/2011

9/28/2011

10/13/2011

10/28/2011

11/12/2011

11/27/2011

12/12/2011

12/27/2011

1/11/2012

020406080

100120140160

Online Buzz/Mentions Bank/Buzz %

1st Qtr2nd Qtr3rd Qtr4th Qtr

Sailing into a New Approach

Source: Tuvie.com

Aeros ML866.

Real Time (social) Data may require more of a Forensic approach than is typical for

Social Media projects

http://www.amazon.com/Pulse-Science-Harnessing-Internet-Opportunities/dp/0470932368

Forensic Paradigm for Social (real time) data

• What Measures do you want to track?

• What Decisions would you make differently were one of the measures surprisingly high or low?

• What is the threshold of the measure? At what point if the value was exceeded or dipped would an alternative action take place?

Source: Douglas Hubbard - The Pulse

ExampleClient: Measure positive to negative ratio around the a new Android phone being launched to the public using only Twitter, Facebook and a blog contest and comments.

Analyst: Very Interesting – Why do you want to do with this information?

Client: Want to know if my blogger relations program is working and if I should add more bloggers to the contest of the 2000 that entered .

Analyst: What is the level of online buzz would the campaign fall below before you would add more bloggers to the program?

Example

Client: Depends on a few factors. Less than 75 tweets a week from the first 25 bloggers or less than 300 Retweets from their followers in aggregate, we might want to double the number of bloggers in the program.

Analyst: Great! Lets try to nail down those triggers so we can build that into our analytics for you.

[Triggers and Thresholds were then defined]

Ultimate Social Media Measureable ROI

by connecting POINT OF SALE systems with Social Media

Square turns the iPad into a cash register

Let’s try an Analytics Game

• Pick a random set of – Your Goal(s)– Your Audiences– Your Internal Audiences – Your Budget– Your Location– Your Program/Service/Offering– Your Vehicle– Your Call to Action – Your Metrics / KPI’s

ExampleA Large Telecommunications Network in AustraliaYour Goal – Increase sales of handsets in 1Q 2012

– Your Audiences – Gen X/Y females– Your Internal Audiences - (Corporate Marketing)– Your Budget - 600,000 Australian Dollars– Your Location – Australia– Your Program/Service/Offering – New Rate Plan for young

females– Your Call to Action – Sign up now– Vehicle -Website Signup form, local signup in store, mobile signup

in handset, Facebook Ads, Search – Your Metrics / KPI’s – % Buzz, Net Promoter Score, SOV, SOC, plus

more

Your Template (beware of “black boxes”)

Goal(s): Audience:

Location: Timing :

Vehicle (how your going to do it): Venues (where your going to do it):

Message (Call(S) to Action):

Product / Service / Program

Metrics/KPI’s

among

through/ with

ask fans and customers to

Regarding our

Success will be judged by

EXTRA - UltraViolet Audit

Summary1. Framing your business goals and measurement strategy

with the right tools, process and people is the hardest part of Social Media ROI.

2. The companies most “mature” in the Social Maturity Spectrum are the most likely to be able to measure Social Media ROI and profit from their investments in Social Media. [Graduate from EXPLORATORY (research –i.e.: UV Audit) into TACTICAL MEASURES & KPI’s).

3. Framing and Mapping Business and Measurement Strategies happens at the same time, for the best results.

4. You can get a high level plan created fairly quickly with the exercises covered in this deck – which will help illuminate where you need to measure and what’s missing (gaps).

Questions ?

Contact me at @webmetricsguru

Marshall SponderWebMetricsGuru INC.

www.smabook.comwww.webmetricsguru.com

now.seo@gmail.com@webmetricsguru@smanalyticsbook

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