bang for the buck sm measurement

Bang for the Buck:A Guide to Social Media Analysis & Measurement

Heidi Miller Mediawww.heidi-miller.com@heidimiller

#measurement

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Social Media

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• Real conversations

• Product development

• Deepen relationships

• Spark innovation

Social Media = Cocktail Party engagement

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Don’t be that guy

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Social Media Analysis

discovering, mapping, and measuring relationships

among people, groups, companies, and any other entities

—with which they interact

including products,

online content,

and

personal computers

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• A silver bullet

Social Media Engagement ISN’T

• A megaphone• A strategy

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Social Media ISN’T

• One-time implementation

• Set it and forget it

• Requires constant engagement

• Requires constant tweaking

• Requires constant fine-tuning

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What is your goal?

• Direct sales

• Improve public sentiment

• Provide customer service

• Reduce traffic to call centers

• Provide a channel for crisis communications

• Increase brand awareness

• Increase attendance to live events

• Develop new product offerings13Wednesday, January 13, 2010

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chrisbrogan.com15Wednesday, January 13, 2010

How can engagement in social media...

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Widescreen Approach

•Customer retention

•Customer satisfaction rates

•Overall profits

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What to measure

• Alerts (register and response rates / by channel / CTR / post click activity)

• Bookmarks (onsite, offsite)

• Comments

• Downloads

• Email subscriptions

• Fans (become a fan of something / someone)

• Favorites (add an item to favorites)

• Feedback (via the site) 

• Followers (follow something / someone)

• Forward to a friend

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What to measure

• Groups (create / join / total number of groups / group activity)

• Install widget (on a blog page, Facebook, etc)

• Invite / Refer (a friend)

• Key page activity (post-activity)

• Love / Like this (a simpler form of rating something)

• Messaging (onsite)

• Personalization (pages, display, theme)

• Posts

• Profile (e.g. updates)

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What does

“engaged”

mean?

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Level of engagement

5 = Addicted

4 = Highly engaged

3 = Regularly engaged

2 = Occasionally engaged

1 = Repeat visitor

0 = Unengaged

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More to measure (from Chris Brogan)

• % of online conversation (versus competitor)

• % of coverage improvement

• # of new subscribers/attendees/buyers via tracking links

• # of new threads, comments, conversations for engagements

• # of actions taken (for instance, on email newsletters)

• increase in $ per visitor, monthly average

• # of leads

• # of sales call conversions

• unique visitors (all those basic web metrics)

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Case Study: Knight News Challenge 2008

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Objectives

• Improve diversity of the applications

➡From tech community

➡From social media communities

➡Online news

• Grow international submissions, esp. from Asia

• Increase awareness of the program

• Build community among applicants

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Strategy

• Blogger outreach to 100 social media, open-source tech and Web 2.0

• Send info to 7,500-person mailing list

• Twitter 3-5x/day

• Create and promote a hashtag

• Podcast interviews with past winners giving advice; post to blog

• Email campaign to journalists and educator influencers

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Strategy

• Built News Challenge Garage site on Drupal to encourage community participation

• Barcamp-style real-life meetups

➡9 overall

➡promoted as Facebook and Upcoming.org events

• International outreach campaign via email

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Outcomes

• Increased awareness

➡Traffic to KNC site up 47%, average 2,930 visits/day

➡224 blog posts about KNC versus 24 the previous year

➡60,000 mentions on Google, up 110% from previous year

• Improve diversity of applications

➡2,323 projects submitted, 258 asked for full proposal--quality high

• Build community among participants

➡1,600 registered for the Garage site32Wednesday, January 13, 2010

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Basic tools for competitive analysis

• Google alert

➡Company name

➡Competitors’ names

➡Topics in the field

• Blogsearch www.google.com/blogsearch

➡Where are your industry’s influencers?

• Twitter search http://search.twitter.com

➡Where are your industry’s influencers?34Wednesday, January 13, 2010

Tools: socialmention.com

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Tools: twitteranalyzer.com

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Tools: Radian6.com

http://www.gravity7.com/blog/media/2008/05/radian6-and-climate-change-views-of.html

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Resources

• http://www.chrisbrogan.com/measuring-social-media-marketing/

• http://www.interactiveinsightsgroup.com/blog1/social-media-metrics-superlist-measurement-roi-key-statistics-resources/

• http://altitudebranding.com/2010/01/10-ways-to-get-serious-about-social-media/

• http://econsultancy.com/blog/3407-10-ways-to-measure-social-media-success

• http://socialmediametrics.wikispaces.com/

• http://womma.org/metrics/

• http://econsultancy.com/blog/4402-20+-more-mind-blowing-social-media-statistics

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Bang for the Buck:A Guide to Social Media Analysis & Measurement

Heidi Miller Mediawww.heidi-miller.com@heidimiller

#measurement

41Wednesday, January 13, 2010