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Uncovering the Real Value of Social Media
Uncovering the Real Value of Social Media • v15.012
Executive SummarySocial has multiple touch points across the purchase
funnel, and as such, merits an attribution model that takes into account its holistic capabilities. For measurement and metrics to be effective, they need to be deployed
and assessed across the consumer journey.
A comprehensive social strategy covers both soft KPIs, such as brand sentiment, as well as getting to the heart of bottom-line KPIs, like conversion rate or basket size.
In an exclusive survey from Brand Republic and Shoutlet, over 150 marketing decision-makers were asked to describe
how they currently navigate the social landscape and measure their output.
This expert report examines where some brands are leading when it comes to their social measurement
and where others are perhaps falling short.
Uncovering the Real Value of Social Media • v15.013
Most marketers do not yet incorporate email address acquisition (63% of respondents) or user generated content metrics (76% of respondents) into their KPI mix.
Key Findings
Most brands currently assess the impact of their social marketing campaigns by measuring brand sentiment, conversation volume,
direct sales, and lead generation.
There is opportunity to connect the dots to revenue, only one-third of respondents track lead generation to revenue, and just 10% attribute social for email revenue derived
from socially sourced leads.
Brands should more quickly embrace social customer service to live
up to customer expectations. Over 60% currently do not have formal metrics in place for tracking social
media customer service.
Brands intend to build out social measurement systems in support of brand advocacy (29%) and client retention (34%) initiatives.
A majority of brands should revisit their social content mix to ensure it
is aligned with downstream business drivers. 65% of brands surveyed
indicate they direct social posts to their ecommerce sites or lead forms
less than 30% of the time.
Sophisticated analysis is lacking as just 25% of survey respondents
currently monitor the type of content that gets shared by brand
advocates in order to optimize reach and engagement via their
advocacy programs.
While many brands have embraced using social as a means to source ideas for product innovation and
gather new product feedback, only 1% of survey respondents track gross margin attributed to their
socially sourced new product ideas.
Monitoring share of voice can provide many marketers with
additional benchmarks to measure the impact of their social marketing
programs, yet only one-third of marketers currently track share
of voice for social media.
Uncovering the Real Value of Social Media • v15.014
Responses
15.66% (13)
12.05% (10)
8.43% (7)
8.43% (7)
7.23% (6)
7.23% (6)
7.23% (6)
4.82% (4)
4.82% (4)
4.82% (4)
3.61% (3)
3.61% (3)
3.61% (3)
3.61% (3)
3.61% (3)
1.20% (1)
Total Respondents: 83
Answer Choices
Agency
Other (please specify)
Education
Technology
Media
Travel/hospitality
FMCG
Healthcare
Manufacturing
Services
Finance
Professional services
Entertainment
Telecommunications
Retail
Insurance
AGENCY
OTHER (PLEASE SPECIFY)
EDUCATION
TECHNOLOGY
MEDIA
TRAVEL/HOSPITALITY
FMCG
HEALTHCARE
MANUFACTURING
SERVICES
FINANCE
PROFESSIONAL SERVICES
ENTERTAINMENT
TELECOMMUNICATIONS
RETAIL
INSURANCE
Q: WHAT IS YOUR INDUSTRY? Please tick all that apply / Answered: 83 Skipped: 25
0% 10% 20%
Sample:The survey was conducted with marketers from a wide range
of company sizes and industries.
Uncovering the Real Value of Social Media • v15.015
What to measure?This report will look at the range of ways brands can quantify the
impact of their social output.
It’s no secret that most brands are running social marketing campaigns,
79% of our respondents stated that they regularly measure campaigns
to determine business value.
More than half of the respondents currently measure brand sentiment
and conversation volume. And 45% measure social’s influence on direct
sales and lead generation.
“Brand advocacy” is measured by only 28%, but an additional 42% identify
a need and desire to improve in this area. Brand advocates are the holy
grail of earned marketing, and as recent Nielsen research found, 84% of
consumers trust advertising messages that come from friends and family.
Customer retention is another area within the social mix that only 10%
of brands are measuring; but 34% of respondents want to improve their
social client retention metrics.
Employee advocacy remains an underdeveloped and unproven strategy.
Only 19% currently attempt to measure its business value, and just 21%
view it as an area worthy of advancement.
BUSINESSVALUE
BRANDSENTIMENT
CONVERSATIONVOLUME
SOCIALINFLUENCE
BRAND ADVOCACY
CUSTOMERRETENTION
EMPLOYEEADVOCACY
Uncovering the Real Value of Social Media • v15.016
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Answer Choices
Social marketing campaigns
Brand sentiment and volume of conversations
Direct sales and lead generation
Market insights
Social customer service
Brand advocacy
Employee advocacy/corporate use of social
Client retention
Other (please specify)
Responses
78.50% (84)
52.34% (56)
44.86% (48)
36.45% (39)
34.58% (37)
28.97% (31)
18.69% (20)
10.28% (11)
3.74% (4)
Total Respondents: 107
Q: WHICH OF THE BELOW DO YOU REGULARLY MEASURETO DEMONSTRATE SOCIAL MEDIA BUSINESS VALUE?
Please tick all that apply / Answered: 107 Skipped: 1
SOCIAL MARKETINGCAMPAIGNS
BRAND SENTIMENT ANDVOLUME OF CONVERSATIONS
DIRECT SALES ORLEAD GENERATION
MARKET INSIGHTS
SOCIAL CUSTOMER SERVICE
BRAND ADVOCACY
EMPLOYEE ADVOCACY/CORPORATE USE OF SOCIAL
CLIENT RETENTION
OTHER (PLEASE SPECIFY)
Uncovering the Real Value of Social Media • v15.017
DEMONSTRATING VALUE
Based on the survey, 35% of marketers ranked tracking the efficiency
of social campaigns as the most important measurement. Not far behind,
with 21%, was tracking direct sales or lead generation. These are undeniably
obvious areas to measure, but do not complete the entire social
media value picture.
Overlooked areas, such as measuring marketing insights, client retention,
and online customer service also deliver value.
10-30%
30-60%
MORE THAN 90%
60-90%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Answer Choices
Less than 10%
10-30%
30-60%
More than 90%
60-90%
Responses
35.51% (38)
29.91% (32)
22.43% (24)
8.41% (9)
3.74% (4)
Total Respondents: 83
Q: WHICH PERCENTAGE OF YOUR SOCIAL POSTS AREDIRECTED TO YOUR ECOMMERCE SITE OR LEAD FORMS?
Please tick all that apply / Answered: 83 Skipped: 25
LESS THAN 10%
With the brands surveyed, 65% indicated that they direct social posts
to their ecommerce sites or lead forms less than 30% of the time.
Uncovering the Real Value of Social Media • v15.018
Many brands are still keeping their strategic intent and actual results disjointed. They know that it is possible to drive measurable results from social media, with direct sales or lead generation measurement being one of their top priorities. However, most are still not making that link between social content and lead/sales generation. While brands must be engaging rather than salesy, there are subtle ways to drive fans to ecommerce or lead forms by offering them value rather than incentivising purchase. For effective results that will allow social marketers to prove their success, they should plan for more innovative content directing to measurable landing pages in at least 30-40% of all the posts they do.ADAM KAY, HEAD OF EMEA FOR SHOUTLET
Uncovering the Real Value of Social Media • v15.019
SOCIAL METRICS
In order to demonstrate the true value of social media, marketers must
take a holistic approach that goes beyond brand sentiment, direct sales,
and lead generation.
Here are the key areas of measurement, along with their associated KPI’s.
Social Marketing Campaigns:
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Answer Choices
Number of engaged users
Audience reach
Campaign participation/entries
Direct sales
Email address/lead acquisition
Quantity of user generated content
N/A - we don’t measure this
Other (please specify)
Responses
72.29% (60)
72.29% (60)
55.42% (46)
38.55% (32)
37.35% (31)
24.10% (20)
8.43% (7)
4.82% (4)
Total Respondents: 83
Q: WHICH METRICS DO YOU USE TO MEASURE YOUR SOCIAL MARKETING CAMPAIGNS?Please tick all that apply / Answered: 83 Skipped: 25
NUMBER OFENGAGED USERS
AUDIENCE REACH
CAMPAIGNPARTICIPATION/ENTRIES
DIRECT SALES
EMAIL ADDRESS/LEAD ACQUISITION
QUANTITY OF USERGENERATED CONTENT
N/A - WE DON’TMEASURE THIS
OTHER (PLEASE SPECIFY)
Uncovering the Real Value of Social Media • v15.0110
The survey revealed that, on the most part, fairly basic metrics were being employed in this area. Reach, engagement, and campaign entries are the primary ways brands measure social campaigns. Most marketers have an opportunity to incorporate email address acquisition and user generated content metrics into their KPI mix.
Four Seasons Hotel Case Study
Viewed primarily as a choice for business travel, the team looked to tap into a different demographic for the summer to increase revenue with a family friendly and child-focused Facebook Contest called #MaxineTakesManhattan.
Maxine, a green fuzzy stuffed toy, was selected to travel around New York City. Each week for 12 weeks, Maxine travelled to a new destination and Four Seasons fans guessed the location on their Facebook page. The hotel added each correct entry into a weekly random drawing and awarded one lucky winner a Four Seasons Gift Card. A range of social media was used, such as Facebook posts, cover photos, a Pinterest page, and a unique hashtag. The team supplemented the contest with Instagram posts and kicked off the promotion with Maxine’s own Vine video over Twitter and Facebook.
With hundreds of contest participants, an increase in family travel during the summer, and guests asking about Maxine at Reception, Four Seasons Hotel New York declared the promotion a huge success.
Shoutlet’s Social Canvas® and Social Contests feature was used to implement and manage the contest. The team developed the creative and entry pages in advance and scheduled each weekly contest to publish automatically, allowing the team to set it and forget it. Social Contest management made it easy to track contest entries, page views, and overall fan data and analytics, easing the process for everybody involved.
Fan/follower growth and year-over-year sales increases as a result of social campaigns should also be monitored.
• 5% revenue increase summer months YOY
• 10% increase in Facebook fans
• 19% increase in Twitter followers
Uncovering the Real Value of Social Media • v15.0111
Social Customer Service:
N/A - WE DON’TMEASURE THIS
NUMBER OF ISSUESSATISFACTORILY RESOLVED
NUMBER OF POSITIVEAND NEGATIVE QUERIES
SPEED OF RESPONSE
OTHER (PLEASE SPECIFY)
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Answer Choices
N/A - we don’t measure this
Number of issues satisfactorily resolved
Number of positive and negative queries
Speed of response
Other (please specify)
Responses
45.78% (38)
38.55% (32)
34.94% (29)
31.33% (26)
1.20% (1)
Total Respondents: 83
Q: WHICH METRICS DO YOU USE TO MEASURE YOUR SOCIAL CUSTOMER SERVICE?Please tick all that apply / Answered: 83 Skipped: 25
Over 60% of respondents are not currently measuring social customer
service. There is opportunity for more brands to measure:
• The number of positive and negative inquiries
• The number of customer service issues satisfactorily resolved
• The speed of response time to address inquiries
Successful social media customer service reduces call centre workload
and increases consumer satisfaction leading to repeat business.
Brands should break down organizational silos and work with their
Customer Service department to establish these metrics that will
further demonstrate social media’s value.
Uncovering the Real Value of Social Media • v15.0112
Peapod Case Study
As an online grocery store, social customer service made sense for Peapod.
The team’s goals include providing service when and where the customer
requests, and to respond to all customer service tweets within a day. By
meeting the customer’s needs on their terms, Peapod has proven increased
engagement with its customers.
The Peapod marketing team manages social media during business hours,
while the customer service team covers inquires the rest of the day. Using
social marketing platform Shoutlet, Peapod restricts the customer service
team’s permissions in their Shoutlet accounts so they can only respond to
customer questions and inquiries.
An important aspect of servicing customers via social media for Peapod is
providing important customer insights to the rest of the team, improving
their company’s online grocery store offerings.
Our belief is by meeting customers where they are and giving them the service where they want it, we’re encouraging loyalty and meeting their needs.SARA BROWN, MARKETING & SOCIAL MEDIA PLANNER
Uncovering the Real Value of Social Media • v15.0113
Brand Sentiment:
NUMBER OFPOSITIVE COMMENTS
NUMBER OFNEGATIVE COMMENTS
SHARE OF VOICE
N/A - WE DON’TMEASURE THIS
OTHER (PLEASE SPECIFY)
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Answer Choices
Number of mentions
Number of positive comments
Number of negative comments
Share of voice
N/A - we don’t measure this
Other (please specify)
Responses
50.60% (42)
49.40% (41)
42.17% (35)
33.73% (28)
33.73% (28)
1.20% (1)
Total Respondents: 83
Q: WHICH METRICS DO YOU USE TO MEASURE BRAND SENTIMENT?Please tick all that apply / Answered: 83 Skipped: 25
NUMBER OF MENTIONS
While over 50% of respondents measure sentiment by counting the number
of brand mentions, only one-third of respondents measure share of voice.
Establishing and optimizing a share of voice metric is a key way to remain
competitive and relevant.
Sentiment is the conduit to nurturing brand advocates, or nipping issues
in the bud. However, without a sophisticated technology system to sample
and interpret keywords, phrases, and social behaviour, this is a challenge
for many brands to ascertain.
Uncovering the Real Value of Social Media • v15.0114
Brand Advocacy:
Just 31% of respondents indicate they currently have a brand advocacy
measurement system in place. Reach of brand advocate posts was indicated
as the most frequently used metric for advocacy.
Many brands can start to make inroads measuring brand advocacy simply
by monitoring the number of advocates they have on a monthly basis.
Sophisticated analysis is lacking, as just 25% of survey respondents currently
monitor the type of content that gets shared by brand advocates in order
to optimize reach and engagement.
REACH OF BRANDADVOCACY POSTS
FREQUENCY OF BRANDADVOCACY POSTS
NUMBER OF ADVOCATES’POSTS ENGAGEMENT
NUMBER OFBRAND ADVOCATES
TYPE OF CONTENT SHAREDBY BRAND ADVOCATES
OTHER(PLEASE SPECIFY)
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Answer Choices
N/A - we don’t measure this
Reach of brand advocacy posts
Frequency of brand advocacy posts
Number of advocates’ posts engagement
Number of brand advocates
Type of content shared by brand advocates
Other (please specify)
Responses
40.96% (34)
31.33% (26)
30.12% (25)
30.12% (25)
27.71% (23)
25.30% (21)
2.41% (2)
Total Respondents: 83
Q: WHICH METRICS DO YOU USE TO MEASURE BRAND ADVOCACY?Please tick all that apply / Answered: 83 Skipped: 25
N/A - WE DON’TMEASURE THIS
Uncovering the Real Value of Social Media • v15.0115
Sales or Lead Generation:
CLICKS CONVERSIONRATE
NUMBER OFCLICKS
RESULTINGREVENUE
N/A - WE DON’TMEASURE THIS
EMAIL REVENUE FROMSOCIALLY SOURCED LEADS
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Answer Choices
Number of orders/lead forms filled
Clicks conversion rate
Number of clicks
Resulting revenue
N/A - we don’t measure this
Email revenue from socially sourced leads
Responses
49.40% (41)
40.96% (34)
34.94% (29)
33.73% (28)
25.30% (21)
9.64% (8)
Total Respondents: 83
Q: WHICH METRICS DO YOU USE TO MEASURE SALES OR LEAD GENERATION?Please tick all that apply / Answered: 83 Skipped: 25
NUMBER OF ORDERS/LEAD FORMS FILLED
There remains an opportunity to connect the dots to revenue. Only
one-third of respondents track lead generation to revenue, and just 10%
attribute social for email revenue derived from socially sourced leads.
Uncovering the Real Value of Social Media • v15.0116
To start measuring social content, marketers must firstly ensure that every link to their website (whether this is to a direct ecommerce page or not) included in a social post is trackable. Technology like Shoutlet ensures this URL tracking is added automatically to every link. By connecting your social content with your website analytics tool, you will be able to see the entire journey from social to website landing page and whether these fans end up making a purchase. Many times, however, fans won’t make a purchase directly that day, but might come back another day. This is another tracking difficulty that Shoutlet comes to solve as it captures social data from all the fans who interact with your brand, so if these fans who first interacted in social will eventually purchase, marketers will have the visibility to match social and purchase data to analyse success.ADAM KAY, HEAD OF EMEA FOR SHOUTLET
$2,344.50
Uncovering the Real Value of Social Media • v15.0117
Customer Retention:
There is a 60% to 70% chance of selling to a previous customer whilst the
possibility of selling to a new prospect is anywhere between 5% and 20%.
What is remarkable, is that in the post-purchase stage the majority of
respondents are not tracking metrics that pertain to customer retention.
NUMBER OF ENGAGEDCUSTOMERS
NUMBER OF RETURNINGCUSTOMERS ACTIVE ON SOCIAL
NUMBER OF POSITIVE OUTCOMESFROM SOCIAL INQUIRIES
CROSS SELLS/UP SELLSDRIVEN THROUGH SOCIAL
OTHER(PLEASE SPECIFY)
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Answer Choices
N/A - we don’t measure this
Number of engaged customers
Number of returning customers active on social
Number of positive outcomes from social inquiries
Cross sells/up sells driven through social
Other (please specify)
Responses
51.81% (43)
26.51% (22)
26.51% (22)
20.48% (17)
12.05% (10)
2.41% (2)
Total Respondents: 83
Q: WHICH METRICS DO YOU USE TO MEASURE CLIENT RETENTION?Please tick all that apply / Answered: 83 Skipped: 25
N/A - WE DON’TMEASURE THIS
Uncovering the Real Value of Social Media • v15.0118
Market Insights:
MARKET TRENDS
TRENDINGINDUSTRY TOPICS
N/A - WE DON’TMEASURE THIS
COMPETITORINTELLIGENCE
PRODUCT FEEDBACK
CUSTOMER/PROSPECTDATA INSIGHT
GROSS MARGIN ATTRIBUTEDTO SOCIALLY SOURCED...
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Answer Choices
Market trends
Trending industry topics
N/A - we don’t measure this
Competitor intelligence
Product feedback
Customer/prospect data insight
Gross margin attributed to socially sourced product innovations
Responses
45.78% (38)
33.73% (28)
32.53% (27)
32.53% (27)
28.92% (24)
22.89% (19)
1.20% (1)
Total Respondents: 83
Q: WHICH METRICS DO YOU USE TO MEASURE MARKET INSIGHTS?Please tick all that apply / Answered: 83 Skipped: 25
The beauty of social engagement is that it is not simply a sales driver, but can
offer feedback and insight into products, innovations, and consumer preferences.
For a long time now, community managers have actively garnered feedback or
formally run beta testing with connected ‘would be’ consumers to great effect.
Many brands use social to identify market and industry trends, as well as
gather competitor intelligence and product feedback. Yet there remains an
opportunity to tie these market insights back to business drivers. Only 1%
of survey respondents are tracking gross margin attributed to their new
products ideas gathered through social media.
With today’s proliferation of social, there is a real-time crowd sourcing
opportunity to acquire market insights.
Uncovering the Real Value of Social Media • v15.0119
Employee Advocacy:
Nearly 60% of respondents note that their brands do not formally
measure or apply employee advocacy metrics. Of the brands that do,
the top two metrics are the amount of content shared by employees
and the reach it produces.
EMPLOYEE SYNDICATION(CONTENT SHARED...)
REACH OBTAINED FROMEMPLOYEE POSTS
NEW PARTNERSHIPSSOURCED FROM SOCIAL...
NEW HIRES SOURCEDFROM SOCIAL MEDIA
OTHER(PLEASE SPECIFY)
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Answer Choices
N/A - we don’t measure this
Employee syndication (content shared by employees)
Reach obtained from employee posts
New partnerships sourced from social media
New hires sourced from social media
Other (please specify)
Responses
60.24% (50)
22.89% (19)
19.28% (16)
13.25% (11)
10.84% (9)
2.41% (2)
Total Respondents: 83
N/A - WE DON’TMEASURE THIS
Q: WHICH METRICS DO YOU USE TO MEASURE THE EFFECT ON EMPLOYEE ADVOCACY/CORPORATE USE OF SOCIAL?
Please tick all that apply / Answered: 83 Skipped: 25
Uncovering the Real Value of Social Media • v15.0120
ConclusionMarketers employ a wide variety of metrics to demonstrate
the value of social media. While most marketers have systems
in place to track social marketing campaigns by measuring
brand sentiment, conversation volume, direct sales, and lead
generation, there remains significant opportunity to add KPI’s
that demonstrate the depth and breadth of social media value.
Additional steps, such as tracking revenue attributed
to socially sourced email addresses, must be taken to fully connect
social media’s influence on revenue. And it’s not just new business
revenue, metrics must be put in place to track social’s influence on
retention/repeat purchase as well.
Most brands have the opportunity to employ social media customer service
metrics, such as the number of issues resolved, and the speed of response.
Customer service is key to any company’s success. Happy customers lead
to repeat business and brand advocacy. Customers that advocate and
spread positive messages on your behalf should also have metrics behind
them in order to further demonstrate what social media is delivering for
your company.
Social KPIs, such as share of voice and gross-margin on socially
sourced product ideas, are under utilized and provide opportunities
for marketers to advance their social marketing impact.
One key to advancing social media KPIs is to collaborate across
departments on relevant social metrics. For example, involve
customer service with social care and talk revenue with your
analytics team.
What’s clear is brands have only begun to scratch the surface
of defining measurable, socially driven business value; but many
are rapidly implementing processes to successfully do so.
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