Social Media Business Intelligence (SNHU Bootcamp Presentation)
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Transcript of Social Media Business Intelligence (SNHU Bootcamp Presentation)
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Sean Owen
Digital Drill Sergeant
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Basic Training
Unable to translate social media logistics into
valuable information? This session on Business
Intelligence highlights metrics, measurements,
social media scalability, and return on investment in
a practical way.
Attendees will leave with an understanding of how
to identify successes, and implement change to
make the most out of social media business
ventures.
Social Media Business Intelligence
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Anyone can do it.
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Anyone can do it. We are all experts.
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Anyone can do it. I wrote a book or I’m gonna.
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Anyone can do it.
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Anyone can do it.
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RIGHT?NO, It’s hard stuff.
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When in
doubt, we’ll
find a way.
It just may
not be the
best way to
use the tools
around us.
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It may not be
the smartest
way.
We may make
a few
mistakes
along the
way, but
nothing fatal.
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What’s the objective… ULTIMATE
MORE SALES.• Better conversion
• Thought leadership positioning / reputation management
BETTER SERVICE.• More vehicles for communication
• Direct access to groups traditionally behind the curtain
PRODUCT DEVELOPMENT.• Current products
• New products
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NO!
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We are here for
Business Intelligence.(refer to slide #2 and wake up)
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LEARNINGis your primary goal.
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OLD School Media
vs.
New Media
• Audience shift.
• NO control groups
95% of marketers will use 5% of statistics
available.
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Anyone can do it. Newspaper Audiences Change with Increased
Obituaries
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Anyone can do it. Our SM Audience Changes Daily
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Campaign: Frozen Pizza
Week One
Marketing to Organic and Vegan Food Lovers
Results:
52% Female
45% Male
3% Unsure
4,600 Likes on Facebook
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Campaign: Frozen Pizza
Week Two
Marketing to Mom’s Groups & Play Dates
Results:
67% Female
33% Male
11,200 Likes on Facebook
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Advertising, Campaigns, Trends, etc.
Influence Your Data
- Audience changes based on inside & outside
factors
- Advertising campaigns
- Social media apps, microsites
- Trend effects
- Platform standards and changes
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Where we advertise changes audience.
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Message / ad content changes audiences.
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Beginner
Stuff
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Determine your KPI Metric
• Different campaigns have different
objectives.
• Identify the tools you will use.
• Record your goals / estimates separately.
• Record influencing factors and weight
them.
• Learning is always an objective.
• Review the entire metric.
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Facebook:
Brand Awareness
Edge Rank formula and what you can do to manipulate
it
Reach Insights
Conversion Traffic
Bit.ly
Google Analytics
Consumer Insights
Reverse advertising
Seeded questions in posts
Polls
A/B advertising
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Twitter:
Brand Awareness
Tweet Reach
Klout
Conversion Traffic
Bit.ly
Google Analytics
Customer Support
Reduction in call center calls
Quicker reaction time
―real person‖ answering concerns
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YouTube:
Subscriptions
Likes
Channel Views
Individual Video Views
Links from Channel/Video to web site
Sources pointing to videos
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LinkedIn:
Thought leadership positioning
LinkedIn answers
Groups
Brand page Statuses
HR
Recruitment
Lead Gen
Product section on brand pages
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Capture Contact
Enter a Sweeps
Test Dialogue
Entertain w/ Video
Product Interest
Push to Retail
Start Dialogue
Ask for UGC
The Conversion Cycle
Learn w/App/Si
te
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Expert
Stuff
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Anyone can do it.
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Anyone can do it.
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Anyone can do it.
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Ratios 101
Reports LIE!
Think about a simple advertising campaign.
10 people respond to an ad out of 100 targets
You yielded 10% response
Next campaign yields 5 responses out of 100
targets.
You yielded 25% response, but may show as
5%
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Get $2 OFF a PIZZA Get $10 OFF a Bikini
10 people = 10% 5 people = 25%
*Audience is 100 people total (80 men, 20 women)
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Measurement Tools
$ Level 1
Quantitative analysis using native app or entry level tool
$$ Level 2
Multi-platform tools, still focused on quantitative
measurement
Potentially some ability to measure qualitative /
sentiment
$$$$ Level 3
Multi-platform management separate from measurement
Focused on all platforms and cross-media campaigns
Ability to create content or devices for measurement
Definitely driving qualitative / sentiment measurement
Top-line comparison features
Ability to code reports based on individual APIs
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Qualitative Measurement
• Sentiment
• Opinion
• Trending conversations
• Document level vs. aggregate level
Challenge:
―Yeah, I loved that keynote.‖
Honest? Sarcastic? Sincere? Funny?
NOT!
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Comparative Measurement - Simple
• Your campaign performance
measuring:
• Audience changes
• Platform performance
• Activation content (messaging)
Compared to yourself!
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Recommendations
• Do not run audience building
campaigns at the same time as
engagement campaigns
• Separate engagement into distinct
areas of testing, executing, engaging
• Monitor your competition
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Comparative Measurement - Complex
• Establish your own ratios
• Create a Marketplace
• Identify similar competitors and include
them in your overall measurements,
especially for comparison data.
• Traditionally known as market reach or
total market share.
• Analysis is more than reading the
numbers.
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Depending on activity vs. spend this formula may be inconclusive.
(Retweets + likes + fans) / Total Campaign ―A‖ Spend
(Retweets + likes + fans) / Total Campaign ―B‖ Spend
*Altimeter Group
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Applying Metrics Across Platforms
Degree of measurement depends on data available and
ability to make changes that may influence the measurement.
Innovation metric can be used on blogs, forums, even YouTube
videos with training or product announcement content.
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Integration with Offline Activities
Ideally, you can measure activity per audience, per content and message, per platform,
and even in online and offline activities.
The integration across AdSense campaigns vs. email and abandoned shopping carts
is reaching high sophistication with less effort. You will need to remain competitive.
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Pay Attention to Details
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Special Areas of Considerations
• Inactivity is activity – measure audiences which are not
engaging.
• Drop Point – this is the most important item for getting
users to complete the sale and it’s very measurable.
• Psychographic – better than demo and geo
• Behavioral Triggers – non—opens, abandoned carts,
etc.
• Business Alignment – Non-competitors who are great
compliments for audience
• Size Doesn’t Matter – People concentrate on bigger
numbers, sometimes that’s less important
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The DROPA key indicator of performance is the drop point. This is the
moment that you lose interaction with a consumer and they do not
complete full conversion.
• Campaigns should be structured to measure drop points.
• Usually requires multiple systems and a bit more attentiveness to
tech
Here is a potential lifecycle of a conversion
1. Social media app engagement
2. Prompt for user information *optional
3. Complete engagement of SM app such as a coupon print
4. Enticement to web and product purchase
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The DROP
Here is a potential lifecycle of a conversion
1. Social media app engagement
2. Prompt for user information *optional
3. Complete engagement of SM app such as a coupon print
4. Enticement to web and product purchase
To measure the campaign above will require two tools:
- Utilize SM Native to measure original traffic
- Manual setup of each step with Google Analytics
- Utilize CouponFactory for coupon views/prints
- Track from one platform to next is a challenge
Set goals at EACH stage of the conversion
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The Conversion
You can't produce a baby in one month
by getting 9 women pregnant.
-Warren Buffet
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Thank You