Social Media Analytics

Taylor PrattRaven Internet Marketing Tools

@RavenPratt | raventools.com/oms

What is the ROI of social media?

The key to social media success is understanding your audience.

Don’t get distracted!

Nielsen’s State of the Media:The Social Media Reporthttp://raven.im/nielsensm

Nearly 4 in 5 active Internet users visit social networks and blogs.

70% of active online adult social networkers shop online, 12% more likely than the average adult user

Socially engaged consumers spend 20 to 40% more than other customers.

53% of active social networkers follow a brand.

How do consumers access social media?

• 97% - Computer• 37% - Mobile Phone• 3% - Gaming Console• 3% - iPad• 2% - Internet-Enabled TV• 2% - E-Reader• 1% - Handheld Music Player

Are you ready?

What is the ROI of social media?

According to Oliver Blanchard, you’re asking the wrong question.

What is the ROI of [insert activity here] in social media?

Oliver BlanchardThe BrandBuilder BlogAuthor of Social Media ROI

Social Media Marketing Process

Discovery

Listening

PlanningExecution

Measurement

DISCOVERYSocial Media Marketing Process

Start Monitoring

Brand Mentions Product

Mentions

[Keyword] Mentions

Competitor Mentions

Influencer Mentions

What to Identify

Social Networks

Forums

Associations

Key Influencers

Popular Topics

Tools That Can Help

LISTENINGSocial Media Marketing Process

Understand your audience!

How are your customers using social media?

Where are they participating?

Do they interact with other companies?

What are they already saying about you?

What is their activity level on each social network?

Who are the key influencers on each network?

Save time and money by properly evaluating potential advocates.

Create a Scorecard

Advocate Share of Voice Reach Topics Customer Overlap

Peter Parker 5% 50,000Arachnoids, Red Heads,

GoblinsMedium

Hulk Hogan 2% 25,000 Tank Tops, Weight Lifting High

Eric Cartman 12% 120,000 Cheesy Poofs, Racial Slurs Low

Don’t overlook social media as a product innovation hub.

Monitor both your brand, your competitors’ brands and keyword mentions for customer pains.

PLANNINGSocial Media Marketing Process

Step 1: identify your business objectives

Types of Social Media Goals

• Engagement• Brand Recognition• Reach• Share of Voice• Sales• Brand Loyalty

• Customer Support• Product

Development• Brand Sentiment• Brand Advocates• Brand Trust

Get more specific!

• Reduction in sales cycles• Reduction in customer support costs• Number of product improvement suggestions

from [social network]• Increase in product reviews/ratings• Number of people in [specific location] who

follow us on Twitter

Other KPIs to Consider

• Volume of consumer-created buzz

• Seasonality of buzz

• Rate of virality

• Embeds/installs

• Increases in searches

• Ranking improvements

• Interaction/engagement rate

• Number of interactions

• Store locator views

• Registrations by channel

• User-initiated views

Step 2: identify your value add

Wal-Mart:Low Prices

Southwest Airlines:Freedom

Harley Davidson:Rebellion

Step 3: define your level of commitment

EXECUTIONSocial Media Marketing Process

How is social media impacting your other online marketing activities?

MEASUREMENTSocial Media Marketing Process

Brand Awareness

Brand Recognition

Share ofVoice

ReachEngagement

To measure Share of Voice compare brand mentions to competitors.

Source: Web Analytics Demystified & Altimeter Grouphttp://bit.ly/pratt1

To measure Engagement, measure participation.

Engagement = Engagement[Social Network] Interactions

Total Views

Source: Web Analytics Demystified & Altimeter Grouphttp://bit.ly/pratt1

To measure Reach, compare audience participation to your audience reach.

Source: Web Analytics Demystified & Altimeter Grouphttp://bit.ly/pratt1

Customer Oriented Goals

CustomerSupport Brand Sentiment

BrandAdvocates

ProductDevelopment

Measuring Customer Support

Reduction in Support

Costs

Reduction in On-Site Support

Increase Resolution

Rate

Improved Customer

Satisfaction

Increase Resolution

Rate

Leads Generated by Support

Measuring Brand Sentiment

Sentiment by volume of posts and impressions

Number of positive reviews generated

Number of mentions of your brand’s value add

Average resolution time to reputation crises

Measuring Product Innovation

Number of new product ideas

Number of new product ideas built

R&D time savedTraditional

research cost savings

Measuring the success of your brand advocates fulfills two goals:

1. Provides an understanding of the ROI you receive

2. Provides you with data to better incentivize advocates

It is okay to reward advocates for their hard work. Wouldn’t you want to be rewarded?

Use event tracking in Google Analytics to quickly assess the virality of your content.

http://gaconfig.com

The key to successful social media measurement is asking questions.

Thank You!

Taylor PrattRaven Internet Marketing Tools

@RavenPratt | raventools.com/oms