can we build a better social media scorecard?

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1 Metrics RELEVANCE Five KEYS Case STUDY SQ INDEX Contact US TITLE

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Webinar presentation detailing how social media can be better scored against business goals and objectives.

TRANSCRIPT

Page 1: Can We Build a Better Social Media Scorecard?

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TITLE  

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S ABOUT MARKETBRIDGE

•  A  leading  provider  of  technology-­‐enabled  Marke=ng  &  Sales  solu=ons  to  the  Fortune  1000.    We  create  scalable  revenue  growth  strategies  and  programs  for  Marke=ng  &  Sales  execu=ves.  

Client  Characteris=cs  " Face  disrup=on  in  customer  buying  process  " Seek  quantum  produc=vity  gains  with  Sales  &  Marke=ng  technologies  

" Go-­‐to-­‐Market  through  mul=ple  sales  channels  

" Sell  a  “considered  purchase”  

MarketBridge  Differen=ators  " Exclusive  focus  on  Go-­‐to-­‐Market  execu=on  " 150  Fortune  1000  and  emerging  growth  clients  

" 20  years  Marke=ng  &  Sales  thought  leadership  

" Over  1,000  client  engagements  

" 15%+  revenue  liV  on  client’s  Marke=ng  &  Sales  spend  

Sample  Clients  

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BIO  LANE DOUGLAS Principal, Social Media Solutions

[email protected]

@lanedouglas

•  Lead for Social Media analytics and solutions at MarketBridge

•  Architect for SQ Index, patent-pending social media scoring index.

•  Lead consultant / social media strategist for Mexico Tourism Board in 2011-2012

•  Co-founder Ataway Exchange digital marketing conference

•  Social media consultant for top brand destinations and properties in Las Vegas, Orlando, Boston

•  15 years online marketing experience

linkedin.com/in/lanedouglas

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S WEBINAR GOALS

...defines how to build context into social media scoring

...integrates and weights metrics for a more holistic approach

...relates social metrics to a sales or marketing funnel

We want to investigate how to build a score card for social media that...

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S METRIC RELEVANCE M A Y  

2010 Facebook changes “Fan” to “Like”"

J U L  2011

Twitter introduces “Promoted” Tweets"

S E P  2011

Facebook adds “Subscribers” to “Likes”"

O C T  2012

Facebook introduces “Promoted” posts"

D E C  2012

Facebook changes “Subscribers” to “Followers”"

“Assigning a value to a fan on Facebook is problematic because fans have little innate value; it is what brands do with their followers — not merely that they have them.”!Forrester Report!The ROI of Social Marketing"June 20, 2012 !

J U N  2010

LinkedIn adds own version of “Like”"

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0  

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60%  

65%  

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90%  

95%  

100%  

Facebook  Likes    

Posi-v

e  Bran

d  Sen-

men

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Facebook Likes vs!Overall Positive Brand Sentiment!

Facebook  Likes   Posi=ve  Sen=ment  

0%  

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Overall  Share  of  Voice  

Twi=er  Followers  

Twitter Followers vs!Overall Share of Voice!

Twicer  Followers   Share  of  Voice  

METRIC RELEVANCE Individual social metrics can be misleading and may distort reports of “progress” in social media growth.

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S METRIC RELEVANCE

47%  

*  Survey  done  by  Pivot  in  conjunc-on  with  Al-meter  Group  and  Hudson  Group.    Survey  Sample:    October  2012  survey.  185  brand  managers,  marketers  and  directors  surveyed  for  the  Pivot  Conference  .  

Budget  

Unclear  outcomes    

Absence  of  clear  social  strategy  for  brand  

Lack  of  understanding  benefits  of  social  media  

Execu-ve  skep-cism  

Lack  of  metrics  

Lack  of  cross    func-onal  support  

Other  

45%  

42%  39%  39%  

37%  25%  25%  

Lack of clarity, metrics to show ROI keeping social from corporate mainstream

Q:  What  prevents  your  organiza=on  from  moving  beyond  experimenta=on  in  social  marke=ng  ?*  

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S THE FIVE KEYS

1 2 3 4 5

5 essential keys to successfully scoring social media.

Score metrics, not networks (platforms).

Use a well-defined competitive set to create limits.

Always define progress as a measure of all the metrics.

Normalize/weight your scores.

Map your metrics to existing business objectives/categories.

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Likes People Talking About This Followers Listed Retweets Mentions Share of Conversation Share of Voice Brand Sentiment Page Followers % Seniority % Upstream Traffic

STEP ONE Identify relevant metrics

•  Think “metrics” not “networks”Select only those that are publicly available or accessible for competitorsBe selective, not every metric is truly valuable"

Facebook Twitter LinkedIn

Paid Earned Owned

Radian6 Hitwise

Media Type!

Social Network / Source!

Netw

ork

Med

ia

Sheet 1

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Likes People Talking About This Followers Listed Retweets Mentions Share of Conversation Share of Voice Brand Sentiment Page Followers % Seniority % Upstream Traffic

STEP TWO/THREE Score against competitors; other metrics •  Watch for progress across all the metrics and not just a select few

Thirty days is a good “refresh period” for recording Score on the same date each month"

Facebook Twitter LinkedIn

Paid Earned Owned

Radian6 Hitwise

Media Type!

Social Network / Source!

My Brand

Competitor # 2

Competitor # 3

Competitor # 4 AVG

5,236 7,824 19,811 3,619 9,123 Ne

twor

k

Med

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You’re now scoring your

brand in the context of other

relevant metrics as well as

against your competitors.

Sheet 1

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0"

1,000"

2,000"

3,000"

4,000"

5,000"

6,000"

7,000"

8,000"

9,000"

Oracle" HP" IBM" Dell" Hitachi" EMC" Seagate" WD" NetApp" Fujitsu"

LinkedIn Group Size Comparison!Technology Storage Vertical – October 2012"

HIGHEST"

LOWEST"

100

75

50

25

.05

Score = 47

STEP FOUR Social metrics carry unique units (“Likes,” “Shares,” etc). "Normalizing them allows for properly equating them to each other.

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Likes People Talking About This Followers Listed Retweets Mentions Share of Conversation Share of Voice Brand Sentiment Page Followers % Seniority

SCORE TOTALS

STEP FIVE Map metrics to business goals or categories •  Use goals already in existing for your marketing objectives

Consider “weights” for each metric per goal."

Facebook Twitter LinkedIn

Paid Earned Owned

Radian6 Hitwise

Media Type!

Social Network / Source!

GOAL # 1

GOAL # 2

GOAL # 3

GOAL # 5

GOAL #6

75 Ne

twor

k

Med

ia

25

25 45 35 60

Sheet 2

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The  research  studies  shown  at  the  beginning  of  this  presenta=on  pointed  out  that  many  corpora=ons  s=ll  hold  back  from  moving  significant  marke=ng  dollars  into  social  media  for  lack  of  metrics  that  truly  speak  to  exis=ng  business  objec=ves.  The  SQ  Index  provides  nine  categories  that  group  and  integrate  the  core  social  metrics  from  the  prominent  social  networks  and  present  their  values  in  execu=ve-­‐level  vernacular.  

DIRECT!REACH!

Measure of immediate fans and followers in

owned networks"

POTENTIAL!REACH!

Extended audience not necessarily in owned

networks"

ENGAGED!COMMUNITY!

Degree to which social community interacts with

and promotes brand"

INDUSTRY!IMPACT!

Measure of how much social conversations is impacting the industry"

BRAND!SENTIMENT!

Measure of the consumer opinion of the brand inside

social conversations"

SOCIAL!ACCESSIBILITY!Ease with which people

can reach the brand through social channels"

CONVERSION!POTENTIAL!

Viability of the social media space to

generate conversions"

SOCIAL!INFLUENCE!Measure of social channel motivating

others towards action"

COMMUNITY!DEVELOPMENT!Measure of intentionality of brand to cultivate an

engaged community"

DR! PR! EC! II!

BS! SA! CP! SI! CD!

THE SQ INDEX TM

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.05   .25   .50   .75   1.0  Facebook  Likes  

Facebook  People  Talking  About  This  

Twicer  Followers  

Extended  Twicer  Followers  

Company  Page  Followers  

Specialized  Group  Members  

Employees  on  LinkedIn  

10%  

5%  

20%  5%  

10%  5%  

20%  

.05   .25   .50   .75   1.0  

.05   .25   .50   .75   1.0  

.05   .25   .50   .75   1.0  

.05   .25   .50   .75   1.0  

POTENTIAL REACH!Potential Reach is defined as the number of possible viewers the brand was able to extend it’s message to during the period measured. Weights change based on industry and market."PR!

.05   .25   .50   .75   1.0  

.05   .25   .50   .75   1.0  

Metrics are integrated based on related value

Sample normalization of scores to equate the measurements

Weights are given based on criteria such as industry, campaign performance or business goals

OUR SCORING METHODOLOGY

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REACH   ENGAGE   CONVERT   EXPAND  

DR!Direct Reach!

PR!Potential Reach!

EC!Engaged Community!

II! Industry Impact!

BS!Brand Sentiment!

SA!Social Accessibility!

CP!Conversion Potential!

SI!

Social Influence!

CD!Community Development!

MAPPING THE SALES FUNNEL Social media does not have to be relegated to a “top-of-the-funnel” marketing channel.

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“...while the number of American visitors dropped by 3% overall in 2011... the number of American visitors in the last four months of 2011 was up 10.6% compared with 2010...”"

Figures from the Mexico Tourism Board and compared to U.S. Department of Commerce!

CNN Travel!March 9, 2012"

CASE STUDY - TRAVEL

8%  

13%  

18%  

23%  

28%  

33%  

38%  

43%  

48%  

July   August   September   October   November   December  

Compara-ve  Share  of  Voice  U.S.  Travelers  to  Outbound  Des=na=on  

HAWAII  

MEXICO  

0  

20,000  

40,000  

60,000  

80,000  

100,000  

120,000  

140,000  

0  

500,000  

1,000,000  

1,500,000  

2,000,000  

2,500,000  

September   October   November   December  

Facebook  Likes  as  Compared  to  U.S.  Visita-on  Data  

Facebook  Likes   U.S.  Visitors  

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S WEBINAR GOALS

...defines how to build context into social media scoring

...integrates and weights metrics for a more holistic approach

...relates social metrics to a sales or marketing funnel

We want to investigate how to build a score card for social media that...

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The"MARKETBRIDGE!SQ INDEX!TM

The definitive way businesses score social media

NEXT STEPS... We’re happy to help you further in making sure you’re social media scoring system is truly measuring progress...

•  Contact for consultation on setting up your own score card using your competitors and your metrics

- or - •  Learn more about our social scoring system,

the MarketBridge SQ IndexTM

Please visit http://www.market-bridge.com/what-we-do/social-media-benchmarks/

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BIO  OUR NEXT WEBINAR Better Understanding Earned Media!Gaining consumer insights about your brand outside the channels you own and moderate can be the key to successfully knowing how to build your social marketing blueprint."

Date: TBA"

[email protected]

@lanedouglas

linkedin.com/in/lanedouglas

Lane  Douglas  Principal,  Social  Media  Solu=ons