Social Bakers EngageX: Building Measurement Frameworks - 1000heads
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DEVELOPING A MEASUREMENT FRAMEWORK ENGAGEX 2015
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Transcript of Social Bakers EngageX: Building Measurement Frameworks - 1000heads
DEVELOPING A MEASUREMENT FRAMEWORK
ENGAGEX 2015
SOCIAL MEDIA MEASUREMENTIT’S NOT ONE SIZE FITS ALL
DEFINE SUCCESSHOW CAN WE MEASURE IT
MEANINGFUL MEASUREMENT MEASURING BEHAVIOR CHANGE
“If you change the way you look at things the, the things you look at change”
- Dr. Wayne W. Dyer
THE BASICSWHAT YOU CAN & SHOULD MEASURE
OWNED PAID EARNED
VALUE OF SOCIAL ACTIONSNOT ALL ARE EQUAL
Light engagement High quality engagement Sales
Follow See Watch Talk Share Create Buy
Acquisition Awareness Investment Participation Amplification Creation Sales leads
Follow -owned social presences in
social
Like a brand post on -owned
channels
Watch more than 75% of
a video
Comment on a brand post or engage
directly with
Share content with
own community
Users create content and share with
their communities,
either unsolicited or inspired by campaign activity
Click through to
ecommerce page,
demonstrate intent to
purchase or recommend a product to
others
Awareness Amplification Advocacy
“Word of mouth is the primary factor behind 20-50% of all purchasing decisions.”
McKinsey, ‘A new way to measure word-of-mouth marketing’, 2010
SOCIAL MEDIA ROIDOES IT EXIST?!
“Facebook brand fans spend 43% more in respective categories versus non-fans, despite not having higher income”
Syncapse The Value of a Facebook Fan, 2013
THE VALUE OF A FANOUR RESULTS
Put a monetary value on a Facebook fan for Skype
Understand reasons for ‘liking’ Skype on
Based on our findings we were able to…
Create a simple measurement framework
that helped solved for ROI
“Building social advocates (people who share their brand passion with others) delivers at least a 12x ROI; more than twice the ROI of other marketing programs”
Harvard Business Review
Connected
The measure of the overall reach generated by social sharing
Forum memberships
Fan networks Follower
networks Blogger
readerships
Connected
The measure of the overall reach generated by social sharing
Forum memberships
Fan networks Follower
networks Blogger
readerships
Involved
The measure of the actions taken by voices to create and share content
Shares Diggs Retweets Posts Comments Interactions per
fan
Involved
The measure of the actions taken by voices to create and share content
Shares Diggs Retweets Posts Comments Interactions per
fan
Immersed
The measure of brand advocacy
Brand love Expressed
preference Recommendation Frequency and
positivity of brand conversations
Persuasion
Immersed
The measure of brand advocacy
Brand love Expressed
preference Recommendation Frequency and
positivity of brand conversations
Persuasion
Interested
The measure of the actions taken by voices to consume content
Video views Social traffic Subscribers New fans New followers
Interested
The measure of the actions taken by voices to consume content
Video views Social traffic Subscribers New fans New followers
Disconnected
All those in social media not reached by conversations and content
Disconnected
All those in social media not reached by conversations and content
Social value to brand(sales, repeat sales, recommendation driven sales)
ActionsActionsConnectionsConnections
Low engagement High engagement
MEASURING ADVOCACYFROM FRENEMY TO SUPERFAN
92% of people trust recommendations from people they know.58% trust branded websites.36% trust ads on social networks.
Nielsen Global Trust in Advertising Survey, 2014
EQUIVELANT MEDIA VALUEHOW TO CALCULATE
INDUSTRY STANDARD CPM
Cost per 1000 impressions for traditional display
advertising
TRUST VALUE MULTIPLIER
“WOM value” people trust social media content more than traditional advertising
SOCIAL CONVERSION MODELMEASURING FRAMEWORK
INFLUENCE
Uplift in brand conversations
Uplift in sentiment
Increase in share of voice
Conversations within new audiences
RETENTION
Community engagement (sharing, liking, commenting, posting, participating)Advocates
LEADS / CONVERSIONS
Social traffic to website
Leads to partner channels
Community purchase uplift (via polls)
Attributable sales uplift (inc customer transaction exit polls, campaign/sales correlation, YOY / MOM uplift)
AWARENESS
Reach of earned conversations
Reach of owned content
Reach of supporting media (bought)
$ media equivalent value for conversations using our EMV (equivalent media value) calculator
ACQUISITION
Growth in new fans and followers
Newsletter and forum registrants
$ per fan (qualitative research)
MEASUREMENT CAN BE FUN!EXAMPLE MODEL
MEASUREMENT CAN BE FUN!EXAMPLE MODEL
MEASURE CONSISTENTLYEXAMPLE DASHBOARD
