proving the value in social media - leisure industry week 2012
DESCRIPTION
Proving the value in Social Media - James Fairweather - Leisure Industry Week 2012, NEC, Birmingham.TRANSCRIPT
Marketing you can measureTM
@J_Fairweather
Proving the value in Social Media
James Fairweather of Coast Digital
Marketing you can measureTM
@J_Fairweather
Hello. A little bit about me.
• 5+ Years Digital Agency side.
• Digital Strategy & Online Marketing Consultant
“I help businesses extract the most value from the web.”
Social Media
Marketing you can measureTM
@J_Fairweather
Social Media
Marketing you can measureTM
@J_Fairweather
Who is this session for?
•Business owners
•Marketers
•New Business teams
Social Media
Who want to understand
•What to measure
•How to measure it
•How to prove the value in Social Media
•Takeout tips
Marketing you can measureTM
@J_Fairweather
We’re familiar with the channels already.
Social Media
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@J_Fairweather
“The term Social Media refers to the use of web-
based and mobile technologies to turn
communication into an interactive dialogue.”
Social Media
Marketing you can measureTM
@J_Fairweather
What has been changing & how fast?
Social Media
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@J_Fairweather
Where are we with Social now?
• The B2B sector has now embraced social media.
• Businesses are getting customer service and support right.
• Many are struggling moving towards acquisition & lead generation.
Social Media
Marketing you can measureTM
In 2010 there were 65 million Tweets delivered per day. Today, Twitter users are
sending over 340 million Tweets per day.
Currently 18% of the UK population actively use Twitter, which equates to
nearly 11 million people.
The majority of Twitter users are aged between 30 to 49.
66% of all questions asked on Twitter have some commercial intent.
Some facts...
*Twitter.com & Touchagency.com
Marketing you can measureTM
More than 750 million active users , that is equivalent to 1 in every 13 people
on Earth owning a Facebook account.
Average user is connected to 80 community pages, groups and events.
35+ demographic represents more than 30% of the entire user base.
People spend over 700 billion minutes per month on Facebook.
Some facts...
*Facebook.com
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@J_Fairweather
“In the past year, traffic from social has grown from 3% - 27%”via @timgentry
Social Media
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@J_Fairweather
Measuring it
Social Media
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@J_Fairweather
Measuring Success
The challenge lies in the breadth of social;
• Customer service
• Marketing & PR
• Market research
• Business development
• HR & Recruitment
The difficulty is in selecting relevant metrics beyond followers and shares to
represent success in these areas.
Social Media
Marketing you can measureTM
@J_Fairweather
Customer Service
Social Media
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@J_Fairweather
Marketing & PR
Social Media
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@J_Fairweather
Market Research
Social Media
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@J_Fairweather
Business Development
Social Media
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@J_Fairweather
HR & Recruitment
Social Media
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@J_Fairweather
Social Media
Some Social Mistakes
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@J_Fairweather
Measuring Success
•Marketers are still unsure how to calculate social media ROI.
•The bigger picture; would you measure the ROI from your telephone line?
•Marketers need to understand the value in what people are doing to justify
resource on social media.
•Biggest mistake is not considering what success and failure look like early
enough. IBM mantra; Fail, fast.
Marketing you can measureTM
@J_Fairweather
What are people measuring?
•Confusion between social media data, metrics (and KPIs) for ROI
•Last touch & direct conversion metrics.
•Vanity metrics.
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@J_Fairweather
Vanity Metrics
•Follows
•Number of „Fans‟
•Likes
•Shares
• Visits
•„Influence‟ scores like Klout
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@J_Fairweather
Vanity Metrics – Some Pitfalls
•Hundreds of distracting social data points to wade through.
•Most of this data is actually nothing but “data puke”. - Avinash Kaushik
•Analysing this data is risky - they can hide the insights needed to understand
what actions to take.
•They can be relevant, however they don‟t always represent reality and mislead
from meaningful measurement.
Social Media
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@J_Fairweather
Vanity Metrics – Some Pitfalls
•Reach, isn‟t really powerful unless you consider ‘influencer identification‟.
•Discover the most influential people in your networks and map them.
•Go on to build relationships online with those people.
•Track the quality of these engagements.
Social Media
Marketing you can measureTM
@J_Fairweather
Vanity Metrics – Some Pitfalls
There can be a place for vanity metrics as part of a set of KPI‟s alongside other data.
Look into some of the metrics within those tools, for example;
1. Reach & velocity.
2. # Of Retweets Per Thousand Followers, as measure of efficiency.
3. Messages Per Outbound Message, a measure of two way conversation, not just
broadcast.
Social Media
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@J_Fairweather
Last Touch Analytics
• Last touch attribution doesn‟t allow Social Media activity to be credited with
keeping conversation going and leads „warm‟.
• If the final „visit‟ to the site isn‟t from a social source, last touch model doesn‟t
credit it at all.
Social Media
Marketing you can measureTM
@J_Fairweather
What should you really be doing?
• Map metrics to business objectives
• Some metrics to consider
• Consider impact of social on SEO
• Create effective dashboards
• Use the right tools
Social Media
Marketing you can measureTM
@J_Fairweather
Map Metrics to Business Objectives
•Focus on choosing a few metrics to use as your KPI‟s in the context of your
business.
•These should form the basis of your measurement framework and will map back
to your business and marketing goals.
•These KPI‟s should lead to action!
Social Media
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@J_Fairweather
Map Metrics to Business Objectives
•Consider the impact of having a great customer service team.
•What is the ROI from not losing a customer?
•Or reducing your volume of call centre complaint calls by 50%.
These are tangible objectives and have associated costs and savings.
ROI calculation needs to account for how much better your customer
service is.
Social Media
Marketing you can measureTM
@J_Fairweather
What should you really be doing?
• Map metrics to business objectives
• Some metrics to consider
• Consider impact of social on SEO
• Create effective dashboards
• Use the right tools
Social Media
Marketing you can measureTM
@J_Fairweather
Some metrics to consider
Volume of conversation and share of voice – what proportions?
Social graphing - tools like Rapleaf can analyse your email database
Sentiment - analyse conversations around how your brand is portrayed.
Paid Value of Traffic – what cost might equivalent paid traffic be?
On site impact on social – do social visitors behave differently on site?
Lost Customer Value - what impact does a lost customer have socially?
Customer Lifetime Value – consider the impact of increased CLV.
Social Media
Marketing you can measureTM
@J_Fairweather
Planning a strategy
1. Review and learn what works. Keep testing, React and refine.
2. Use A/B testing where you can to optimise performance.
3. Drop things that don‟t work and invest in a steady stream of new initiatives.
4. Always consider time as a key component. Social data may be instantly
available, but building a brand is a timely process.
5. Establish milestones and re-evaluate regularly.
Marketing you can measureTM
@J_Fairweather
What should you really be doing?
• Map metrics to business objectives
• Some metrics to consider
• Consider impact of social on SEO
• Create effective dashboards
• Use the right tools
Social Media
Marketing you can measureTM
@J_Fairweather
Social and search are amalgamating
Social Media
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@J_Fairweather
200 million twitter users.
Over 750 Million active Facebook users.
25 million Google Plus users.
Search engines can‟t afford to ignore this volume of usage.
Social Media
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@J_Fairweather
People trust 'human' recommendations and endorsement.
If relevance is key to keeping Google's search share, they have to adapt.
53% of people on Twitter recommend companies and/or products in their
Tweets, with 48% of them delivering on their intention to buy the product.
(ROI Research for Performance, June 2010)
Social Media
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@J_Fairweather
•Social media has grown so quickly that
Google have to play catch-up to ensure
that they are returning users the most
relevant content.
•It is likely that human endorsement
factors will overtake traditional 'link
based' ranking factors.
•Results are more likely to be based on
real-time 'noise' and activity.
Social Media
Marketing you can measureTM
@J_Fairweather
Social as a Ranking Signal
Social Media
“Yes, we do use it as a signal. It is used as a
signal in our organic and news rankings.”
“For +1‟s and other social ranking signals,
we‟ll be starting carefully and learning how
those signals are related to quality.”
“We do look at the social authority
of a user. This can add a little
weight to a listing in regular search
results.”
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@J_Fairweather
Why would social signals be good for search
engines?
Social Media
Why would social signals be good for search engines?
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Freshness
Social Media
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Freshness is an important property of online
content
Social Media
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@J_Fairweather
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@J_Fairweather
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@J_Fairweather
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What are the effects of this cross-over now?
Social Media
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What are the effects of this
cross-over now?
Social Media
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@J_Fairweather
Source: www.branded3.com
Social Media Optimisation
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@J_Fairweather
•Search engines are open about using likes, tweets and social
endorsements as ranking signals.
•New content gets indexed more quickly.
•If content is relevant in the social space, it can rank much more
effectively.
•More difficult to 'game' - as a result the quality of search results will
improve.
•Google are customising search result to you based on your social
circles.
Social Media
Marketing you can measureTM
@J_Fairweather
What should you really be doing?
• Map metrics to business objectives
• Some metrics to consider
• Consider impact of social on SEO
• Create effective dashboards
• Use the right tools
Marketing you can measureTM
@J_Fairweather
Use effective dashboards
1. Establish your analytics suite and form a good work-flow process
2. There are hundreds of tools and dashboards out there. Trial and test to find
the ones that work for you.
3. Establish a good mix of tools & services that can form your measurement
toolbox and automate where you can.
4. Some can integrate with CRM and other internal systems.
Don’t forget: social media monitoring is about a "team" rather than a "tool"
Marketing you can measureTM
Reach
Reduced
Phone
Reliance
Shares KPI
KPI
KPI
Dashboard – ROI Reporting
Metrics KPI’s
An example strategy
Marketing you can measureTM
@J_Fairweather
What should you really be doing?
• Map metrics to business objectives
• Some metrics to consider
• Consider impact of social on SEO
• Create effective dashboards
• Use the right tools
Marketing you can measureTM
@J_Fairweather
Tools & Takeouts
•The key to getting Social media „right‟ is more in strategy rather than the
toolset.
•In many ways, social monitoring is about a "team" rather than a "tool“.
•However.... there are good services out there that can speed the
management side of social media up.
•“Only 23% of UK marketers said they were able to update multiple
channels from one dashboard.” (Econsultancy)
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@J_Fairweather
Google Analytics Social Reporting
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Google Analytics Multi Channel Goals
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Tools & Takeouts
Identifying Influential Followers
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Tools & Takeouts – A list for later.
Hootsuite – http://www.hootsuite.com Social Media management dashboard
Tweetdeck – http://www.tweetdeck.com Facebook & Twitter account management
Twitsprout - https://twitsprout.com Twitter & Facebook reporting (although primarily Twitter)
Tweetreach - http://tweetreach.com/ Twitter reach metrics, statistics and analysis
Radian 6 - http://www.radian6.com/ Social media monitoring tools & social media engagement software
Alterian - http://www.alterian.com/ Social Conversation management
Brandwatch - http://www.brandwatch.com/ Social Media monitoring platform
Social Bro - http://www.socialbro.com/ Twitter management dashboard
Buffer (web client) - http://bufferapp.com/ Post scheduling tool
Addictomatic - http://addictomatic.com/ Buzz monitoring tool
Icerocket - http://www.icerocket.com/ Meltwater buzz monitoring
Argyle - http://argylesocial.com Enterprise social marketing platform
Sprout - http://sproutsocial.com/ Social Media management platform
Buto.tv - http://get.buto.tv/ Web Video measurement platform
Marketing you can measureTM
@J_Fairweather
Wrapping it up
•Choose careful metrics & map to KPI‟s.
•Measure them meticulously.
•Calculate ROI as you would any other channel.
•Review regularly & learn.
•One size doesn‟t fit all.
•Social should be a platform to support a comprehensive
and interesting content strategy.
Marketing you can measureTM
@J_Fairweather
As a live example; we’ll use
this set of slides and content
as a part of our own
marketing activity.
Social Media
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• Slides onto SlideShare.
• YouTube webcast.
• Post excerpts onto twitter.
• Publish and share on LinkedIn & through groups.
• Add posts to our blog on site.
• Post tweets up with relevant hashtags #socialmedia #SEO
#SMO and share with our followers.
• Support the publication of upcoming guides and whitepapers.
Social Media
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@J_Fairweather
We will be measuring;
1. Inbound links back to our site
2. Additional view, like and share metrics on content
around the event.
3. Increases in traffic volume & engagement to our site.
4. Individuals that we interact with as a result of the
session
5. Return on investment. What return will we make in the
long run?
Social Media
Marketing you can measureTM
@J_Fairweather
Private LinkedIn group for Q&A, http://linkd.in/socialmediaROIgroup
We've also got a free Social Media guide for the business. If you'd like a copy,
connect with us online or leave some details.
linkedin.com/jamesfairweather
twitter.com/j_fairweather
Social Media