1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Create a Social Media
Measurement Strategy That
Clearly Ties to
Organizational Goals
Angela Jeffrey, APR, Senior Counsel
CARMA International
@ajeffrey1
#prmeasurement
#prmeasurement
#prmeasurement
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Leap-Frogging to Outcomes
• Great conceptual frameworks
from Don
• Skip the usual metrics soup …
• Explore cool financial metrics
and links to outcomes!
#prmeasurement
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Your Comfort Zone …
78%
55%
40%
35%
35%
32%
20%
Web Analytics
Owned Channel Metrics
URL Tracking via Bit.ly, etc.
Benchmark and Tracking Surveys
Tracking of Sales, Leads, Donations…
Search Analytics
CRM Systems
PRNews/CARMA 2013 Measurement Survey % Respondents Measuring Outcomes
#prmeasurement
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Your Comfort Zone …
78%
55%
40%
35%
35%
32%
20%
Web Analytics
Owned Channel Metrics
URL Tracking via Bit.ly, etc.
Benchmark and Tracking Surveys
Tracking of Sales, Leads, Donations…
Search Analytics
CRM Systems
PRNews/CARMA 2013 Measurement Survey % Respondents Measuring Outcomes
#prmeasurement
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Your Comfort Zone …
78%
55%
40%
35%
35%
32%
20%
Web Analytics
Owned Channel Metrics
URL Tracking via Bit.ly, etc.
Benchmark and Tracking Surveys
Tracking of Sales, Leads, Donations…
Search Analytics
CRM Systems
PRNews/CARMA 2013 Measurement Survey % Respondents Measuring Outcomes
#prmeasurement
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
New IPR Paper - Tying SSM to Organizational Goals
… • Eight-Step Process with
AMEC Framework
• Extensive tools and
metrics appendices
• Contact @ajeffrey1
#prmeasurement
Valid Metrics Framework Template:
Key Area of Communication
(Brand/Product Marketing, Reputation Building, Issues
Advocacy/Support, Employee Engagement, Investor Relations, Crisis/Issues Management, Not-
for-Profit, Social/Community Engagement)
Awareness Knowledge/
Understanding Interest/
Consideration Support/
Preference Action
Public Relations Activity
Intermediary Effect (Outputs)
Target Audience Effect
(Outtakes, Outcomes)
COMMUNICATIONS/MARKETING STAGES
CO
MM
UN
ICA
TIO
NS
PH
ASE
S
ORGANIZATION/ BUSINESS RESULTS
7 #prmeasurement
1615 M Street, NW; Suite 750
Washington, DC 20036 USA Tel 1.202.842.1818
carma.com
Here We Go -- Outcomes & Cost Efficiency
• ROI and Cost-Efficiency
• Web Financial Metrics
• Goals, funnels and channel comparisons
• Linking to Outcomes
• Pearson Correlations
• Market Mix Models
#prmeasurement
ROI & Cost Efficiency
#prmeasurement
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Return on Investment (ROI) … NOT!
True ROI applies to organization-wide financial measures.
But if you insist …
• ROI = [(Payback - Investment) / Investment)] * 100 • Payback = incremental revenue
• Investment = what you put into it
• Example: • Payback = donations of $100,000
• Investment = 250 hours @ $100/hour = $25,000
• ($100,000 - $25,000) = $75,000/$25,000 = 3 x 100 = 300%
#prmeasurement
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Revenue Events … Good Alternative!
These are mini-contributions to overall ROI …
• Revenue Event = (Payback – Investment) • Payback = incremental revenue
• Investment = what you put into it
• Example: • 100 people registered at your conference at $150 = $15,000
• Staff time and out-of-pockets = $1,000
• Net: $14,000
• Caveat: Not ROI but valid as a contribution toward it
#prmeasurement
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Cost Efficiency by Activity
Activity metrics are great for comparisons across channels. Thanks to: Katie Paine “Measure What Matters”
• Cost-per-Impression (Tweets, Fans …) • Add up target Impressions
• Divide campaign costs by impressions
• Result: Cost for one person to see your item
• Example: • Your release receives 500,000 Target Impressions
• Cost is $5,000
• ($5,000/$500,000) = $.01 Cost-per Impression
• Caveat: If comparing to a paid campaign, multiply results by 1,000.
• To convert: $.01 x 1000 = $10.00 CPM (cost-per-thousand)
#prmeasurement
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Cost-per-Message-Communicated
Since a relatively small number of stories have key messages,
(if so, they are 6x as likely to be favorable), another approach:
• Cost-per-Message Communicated • For each story, multiply the # of key messages by impressions
• Divide campaign costs by # of impressions
• Result - Total opportunities to see a key message
• Example: • 1,000,000 Impressions with Key Messages
• Cost of campaign is $10,000
• ($10,000/1,000,000) = $.01 Cost-per Impression
#prmeasurement
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Cost-per-Survey Results
Using results from surveys w/questions specific to your
campaign, you can compare campaign costs against the
amount of improvement seen.
• Cost-Per-Awareness, Attitude, Understanding,
Preference or Loyalty Uplift • Gather % uplift in survey scores
• Divide Campaign Costs by % gain
• Result - Cost of % gain in survey results
• Example: • Unaided Awareness of new product rose by 10%
• Cost of campaign is $20,000
• ($20,000/10) = $2,000 to increase awareness by 1%
#prmeasurement
Web Financial Metrics
#prmeasurement
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Web and Owned Channel Efficiencies
Moving past the usual … let’s explore two cool methods for
gauging success. But first:
http://bit.ly/11x56m8 #prmeasurement
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Assigning $$ “Macro” and “Micro Goals”
Assigning dollar results to “Micro” goals can show progress against “Macro”
organizational goals, and can be established with a bit of internal research
and agreement with management.
• Example: • A Macro goal is a $500 sale or donation
• A Micro goal is a “Contact Me” sign-up
• It takes 10 “Contact Me” sign-ups to get a sale
• $500/10 = $50 for each Contact Me sign-up
• Read Chapter 14 of Sam’s - “Set up Goals and Funnels” • Avinash Kaushik – “Excellent Analytics Tips #19: Identify Website
Goal [Economic] Values”
#prmeasurement
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Channel Revenue Comparisons
What is the value of a visit from a social channel? How do they compare?
• Set up goal funnels in web analytics or owned channels • Track visits and dollars spent from each channel
• Divide revenue (or other goal value) by # of visits from each platform
to compare values-per-visit
• Example:
Channel Visits Revenue $/Visit
Facebook 3,390 2,433 $0.72
Blog 357 $56 $0.16
Twitter 41 $8 $0.20
#prmeasurement
Linking to Outcomes (Correlations & MMMs)
#prmeasurement
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Correlations to Outcomes
#prmeasurement
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Hundreds of studies show a direct Pearson Correlation
between competitive share of coverage and outcomes
• Coverage must factor in “quality and quantity”
– Quality = Net Positive (Positive + Neutral – Negative)
– Quantity = Impressions or Item Counts
• Best to do a combined scorecard index
Correlations to Outcomes
#prmeasurement
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Scorecards work best for Market Mix Models, as well as
correlations. (Don’t supply simple clip counts or impressions
to MMMs)
Scorecards and Market Mix Models
#prmeasurement
Media Index Scorecard
Clip Quality Variables 0-100 points
Tone -100 to + 100 points
Media Index Score Multiply Part 1 x Part 2 / 100
Net Impressions Multiply Index Score as a % against Impressions (best for traditional media)
(Use Media Index Score to compare Social and Traditional Results)
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Easy Correlations in Excel!
• Row 2 is Media Index or Share of Voice %
• Row 3 is Business Result
A B C D E F G
1
Time
Period Jan Feb Mar April May June
2 SoV % 10.5 14.5 19.5 19.0 10.0 50.0
3 Leads 6 30 60 25 25 70
• In an empty cell, enter the cell numbers of the starting and
ending values: =Correl or =Pearson(B2:G2,B3:G3)
• Hit enter … and result appears – r = .80
#prmeasurement
Take-Away Tips
#prmeasurement
• Social and web metrics are great,
but link your full PR effort to
business outcomes
• Master a few comparative financial
metrics instead of “ROI”
• Try your hand at setting financial
goals in Google Analytics
• Measure social and traditional
media by quality and quantity
• Correlate to outcomes!
1615 M Street, NW; Suite 750 Washington, DC 20036 USA Tel 1.202.842.1818 carma.com
Angela Jeffrey, APR
Senior Counsel, CARMA International
President, MeasurementMatch.com
@ajeffrey1
214-926-9794
For More Information
#prmeasurement
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