social media measurment for solo practitioners

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Social Media Measurement for Solos

Kami Watson Huyse, APR, @kamichat

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Kami HuyseFounder

zoeticamedia.com

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A quick poll

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It’s too hard/Time consuming

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It costs too much

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I don’t know how

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It’s scary – what will you find out?

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Only 22% had a strategy that ties analysis back to business objectives. Econsultancy Online Measurement & Strategy Report for 2012

Only 30% are regularly reporting to management. Alterian Annual Survey: How Engaged is One’s Brand?

Fifty-seven percent say “poorly defined success metrics and key performance indicators” were three major obstacles to social media marketing adoption. 2012 B2B Social Media Marketing: A Surge in Adoption

Under-measuring

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• Diagnose: Determine what works and what doesn’t• Prioritize: Build into planning, make decisions• Evaluate: Demonstrate ROI, Business Value

Diagnose Prioritize Evaluate

Purpose of Measurement

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Industry Standards

• The Barcelona Declaration of Measurement Principles.

• Valid Metrics Framework for Public Relations

Measurement

• Coalition for Public Relations Research Standards

• The #SMM Standards Conclave

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Awareness Knowledge Interest Support Action

Public Relations Activity

• Content creation (e.g. assets created, videos/podcasts)

• Social media engagement (e.g. blog posts, blogger events, blogger briefings, Twitter posts, community site posts & events)

• Influencer engagement

• Stakeholder engagement

• Events/speeches

Intermediary Effect

• Impressions/Target audience impressions

• Earned media site visitors/day

• % share of conversation

• Video views• Prominence

• Key message alignment [traditional & social media]

• Accuracy of facts• % share of

conversation

• Expressed opinions of interest

• Social network Followers

• Retweets/Shares/ Linkbacks

• % share of conversation

• Endorsement by journalists or influencers

• Rankings on industry lists

• Expressed opinions of support

• Social network Fans• Likes

Target Audience Effect

• Unaided awareness• Aided awareness• Owned media site

visitors per day• Social network

channel visitors

• Knowledge of company/product attributes and features

• Brand association and differentiation

• Relevance of brand (to consumer/ customer)

• Visitors to website• Click-thru to site• Time spent on site• Downloads from site• Calls• Event/meeting

attendance

• Attitude uplift• Stated intention to

buy• Brand preference/

Loyalty/Trust• Endorsement• Requests for quote• Links to site• Trial

Social/Community Engagement

12NOTE: Within social media, several of these metrics could straddle two rows as an Intermediary Effect and/or Target Audience Effect, depending on who’s engaged in the conversation. For simplicity, we have listed those metrics under Intermediary Effect to reflect the general conversation as you would not know if all participants are in your target audience. If the commenters are known to be in your Target Audience, you could reflect those metrics under Target Audience Effect.

• Active advocates

• Brand engagement

• Leads/sales

• Revenue

• Market share

• Cost savings

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Steps to Measurement

1. Set measureable objectives2. Choose your metrics3. Choose tools4. Implement5. Analyze and Present6. Adjust and Repeat

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Set Measureable Objectives

SMART Objectives–Specific

–Measurable

–Attainable

–Results-Oriented

–Time Bound

http://bit.ly/SMARTObjectives

STEP 1

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Goal vs. Objectives

Goal:Increase registration for this year’s conference

SMART Objective:By two months prior to the event, over 100 people will have registered using the “friends of online influencer” code and we will be 15 percent ahead of usual registration numbers.

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Ask…1. Why? 2. Why? 3. Why? 4. Why? 5. Why?

What Are Your Key Performance Indicators

Photo Credit: http://www.flickr.com/photos/haley8/243182310/in/photostream/

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Measurement RubricObjective Metric Date

TACTICS

SM Manager Hire manager at Fund level to report to Communications

# of qualified applicants` April 2013

Social Media Team

Cross-program team to advance digital communication

Capacity built April 2013

SM Policy Enact social media policy and train all employees

# of people trained May 2013

ExChange Blog Launch fund level blog Google Analytics and Social Shares

Summer 2013

Ambassadors Form team of ten influencers #Social Footprint of Ambassadors, Messages

shared by Ambassadors, Reach of messages

June 2013

Interest Survey Get a clear understanding of the interests and participation in social media by donors, former donors and mailing list participants

Survey Monkey Report March 2013

Digital Partners Network

Build a strong digital partner network sharing content at least 3-4 times per week

Twitter lists, RT rates , # of partners

June 2013 and Ongoing

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Choose Your Metrics

Activity

Attention

Awareness

AttitudesActions

STEP 2

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You need Activity

To get Attention

Which brings Awareness

Which cultivates Attitudes

Which leads to Actions

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Activity

Is all about what YOU do:

• How many posts?• How many comments?• How many tweets?• How many connections?• Avg. response time?

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Sample Activity Report

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Attention

Is all about Reach or Opportunities to See

• Visits• Potential reach• Demographics• Click throughs

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Social Networks

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Competitive Benchmark

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Click Throughs

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Awareness

Is all about engagement (with you)…

• Do they LIKE or comment?• Are they mentioning you?• What is your share of voice? • How often do they visit?• Who is referring?• % of followers engaged?

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Pure Michigan Site Survey

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Average PTA (Facebook)

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Attitudes

It’s all about their conversation (about you)…

• What is the sentiment?• Are they committed?• Are they satisfied?• Would they recommend?

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Sentiment “Harlem Shake”

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Search + Brand

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Pre and Post Survey

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ActionsIt’s all about what they actually do (rather than say)…

• What are the financial results?• What is the value of customers?• How are processes impacted?• What innovations emerge?• What about ROI?

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Revenue Events

Objective:Increase registration for this year’s conference

SMART Objective:By two months prior to the event, over 100 people will have registered using the “friends of online influencer” code and we will be 15 percent ahead of usual registration numbers.

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Calculating Revenue Events

Ticket price $150x100 sold

$15,000 -$2,500 costs

NET: $12,500/15,000 = .83 x 10083% ROI

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FinancialSales

Revenue EventsCorrelation and Regression

CustomerCost of Support

Average Lifetime ValueImpact on Value

ProcessLeads and Closing

FulfillmentChannel Success

InnovationNew Ideas Adopted

Employee Turnover RateEmployee Satisfaction

Results

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Cost Per Lead

• Webinar Activities: – Write a blog post about the webinar– Put a short post on LinkedIn with a link to the

blog post– Tweet the link to the blog post

• Cost: $150 (Salaried employee)• Return: 100 leads

– Avg. cost of a digital lead $40 x 100 = $4,000

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Channel Revenue Tracking

Channel Visits YTD Visits Revenue YTD Revenue

$/Visit

Facebook 3,390 9,236 $ 2,433.00 $ 4,025.00 $ 0.72

Blog 357 1,282 $ 56.00 $ 56.00 $ 0.16

Twitter 41 250 $ 8.00 $ 8.00 $ 0.20

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Customer Lifetime Value

@kamichatSource: Adobe Digital Index

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Track Value by Keyword or Visit

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Anas Younes, MD: LymphomaMD Anderson

Problem: Too Few people signing up for clinical trials

Objective: Build reputationAnd clinical trial base to

sustainable levels, at least double

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Results

• 18 months quadrupled patients in clinical trials

• “Go-to” resource for info about lymphoma, thought leadership

Small but motivated following of patients and other medical professionals - 913 followers, 3,000 fans/LIKES

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Compare CostCampaign:•Online Campaign Only•Influencer Outreach

Results:•Cost per impression- Television: $1- Social Media: $.22

•ROI$2.6 million in revenue- How did you hear?- Why did you visit?- Revenue per visitor

http://bit.ly/JTAResults

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Talent Acquisition LinkedIn

• Unqualified Resumes• Recruiter Fees• Expatriate CostsLink Humans by Laurent Brouat

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Easy Correlations Calculation!Correlate Share of Discussion to Results (Leads)

TimePeriod

1Period

2Period 3

Period 4

Period 5

Period 6

SoD % 10.5 14.5 19.5 19.0 10.0 50.0Leads 4 6 45 50 30 15Correlation -0.05 -0.28 -0.69 -0.68 -1

In an empty cell, enter the cell numbers of the starting and ending values in each row like this: =Correl(B2:G2,B3:G3)

Hit enter … and it returns a correlation of r = .547.

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Regression Analysis

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Choose Your ToolsSTEP 3

Listen Engage Measure

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socialmediaanalysis.com/directory/@smanalysis

A global reference to the hundreds of companies that offer products and services

for listening to what people are saying in social media. Currently at 409 listings.

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Listening Tools

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Engagement Measurement Tools

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Proprietary Frameworks

Influence Tools

KRED

And more…

1st Generation 2nd Generation 3rd Generation

SCORE SAY SEE

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Relationship Mining:NextGen Influence

http://www.tellagence.com

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Unstructured Data Mining(Big Data)

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Analytics ToolsYour Site

Competitors

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Analysis Tools

DIY: Multi-Channel Attribution Spreadsheet

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Recommended Reading

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Questions?

kami@zoeticamedia.com @kamichat

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Kami HuyseZoetica, CEO

zoeticamedia.com@kamichat

Links for this presentation:http://www.diigo.com/

list/kamichat/mpb2bpreso