bang for the buck sm measurement
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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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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
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