social media analytics - going beyond the numbers

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2010 Smart Social Media – www.smartsocialmedia.com.au

Social Media Analytics

Beyond the Numbers

Mark Parkermparker@smartsocialmedia.com.au

2010 Smart Social Media – www.smartsocialmedia.com.au

Today’s Objectives

• How is social media impacting the enterprise

• Start by Listening

• Social Media and the Enterprise

• Are traditional KPI’s still relevant – Measuring ROI

2010 Smart Social Media – www.smartsocialmedia.com.au

Part 1What’s Changing

2010 Smart Social Media – www.smartsocialmedia.com.au

What is Changing

Two things stand out for me

• Trust

• Behaviour

2010 Smart Social Media – www.smartsocialmedia.com.au

Is this a Revolution

A revolution doesn’t happen when society adopts new tools, it happens when society

adopts new behaviours

C. Shirky

2010 Smart Social Media – www.smartsocialmedia.com.au

Part 2Start Listening

2010 Smart Social Media – www.smartsocialmedia.com.au

Texas Tea Anyone?

2010 Smart Social Media – www.smartsocialmedia.com.au

So if we listen – that’s good?

• The best communicators start as listeners

• Social Listening is emerging as one of the most important skills for an enterprise to master

• I’m suggesting to you that this has enterprise wide application

• Most people perceive someone who listens as someone who cares

• Requires an almost “sales funnel” like approach to engagement – the move to conversational listening

2010 Smart Social Media – www.smartsocialmedia.com.au

How Do We Manage the Volume?

• Take a sales funnel type approach to managing the volume

• You want to filter and funnel the information until you get to actionable insights

2010 Smart Social Media – www.smartsocialmedia.com.au

How Do We Manage the Volume?

2010 Smart Social Media – www.smartsocialmedia.com.au

Part 3Enterprise Wide Application

of Social Media

2010 Smart Social Media – www.smartsocialmedia.com.au

Social Media and Sales

• Buyers seek information they can trust to support their decision making process

• This means they are not searching for brands, but for information and user opinion

• You, the seller, need to be better prepared to bring value to the interaction

But…

• Social media will not replace face to face selling

• A social sales model is required so as to align the enterprise

2010 Smart Social Media – www.smartsocialmedia.com.au

Social Media and Service

• The greatest impact social media is having in service is self-help

• Some social media tools like Twitter can promote queue jumping

Key Point

• Profit may mean a reduction in costs

2010 Smart Social Media – www.smartsocialmedia.com.au

Social Media and R&D

• Significant opportunity for product managers – R&D managers, the innovators

• Tap into the crowd

• Harness their enthusiasm, their advocacy

2010 Smart Social Media – www.smartsocialmedia.com.au

Real World ExampleThis is one way of looking at the strategy

SMARTPEN

The

destination

The tools to

facilitate the

dialogue

Out here we

listen and

learn

2010 Smart Social Media – www.smartsocialmedia.com.au

Part 4Measuring the UnmeasurableGoing Beyond the Numbers

2010 Smart Social Media – www.smartsocialmedia.com.au

Are Traditional Metrics Still Relevant?

• Yes.

• But you need to adapt your thinking.

• The data isn’t as obvious

• Seriously, drop the focus on followers, re-tweets, fans etc

• These are corrupt measures

Is what you are doing having a direct and positive impact on buyer/customer behaviour?

2010 Smart Social Media – www.smartsocialmedia.com.au

Influence + Engagement

• Influence

• Start looking at the spread of your information, the connects and disconnects

• Engagement

• Are you doing things that make people react? (i.e. measure the # comments per blog post)

2010 Smart Social Media – www.smartsocialmedia.com.au

ROI in the new world

• ROI is still at the point of transaction – this business fundamental won’t change

2010 Smart Social Media – www.smartsocialmedia.com.au

ROI in the new world

• Define the objective

• Benchmark before you start

• Track the right metrics

• Track activities that measure $

2010 Smart Social Media – www.smartsocialmedia.com.au

Influence Visualisation

2010 Smart Social Media – www.smartsocialmedia.com.au

Summary

• To measure you must begin by listening and engaging

• Driving ROI from using social media will require effort –don’t be afraid to immerse yourself in the data

• This is strategic – there are many ways you can use these tools – listening is just the beginning

2010 Smart Social Media – www.smartsocialmedia.com.au

Thank You & Questions

• Mark Parker

• +61 (414) 72 5549

• mparker@smartsocialmedia.com.au

• http://www.xeesm.com/smartsocialmedia

Acknowledgements – Spiral16, Mike Lewis, Marta Kagan, Marcel LeBrun, Jerimiah Owyang, Olivier Blanchard

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