connie bensen
TRANSCRIPT
Measuring Social Media Effectiveness
Connie Bensen
@cbensen
Social Media Plus
May 25, 2010
Agenda
• The New Measurement
• Tools & Ownership
• Five Step Process
• Metrics & Key Performance Indicators
• Case Studies
THE NEW MEASUREMENT
Everything is Measurable
Your SiteWeb Analytics
TwitterBlogs Wikis
Message Boards
YouTube
Opportunities of Monitoring Social Media
Brand Audit
Corporate MarketingPublic Relations
Competitive InsightProduct DevelopmentSearch Engine Optimization
Customer ServiceSocial Media Campaigns
Sales – Lead Gen
Time
Enga
gem
ent
TOOLS & OWNERSHIP
Tools ???
Social Media Monitoring Tools
Blogs Google Alerts, Yahoo Alerts
Comments Backtype
Message Boards Board Reader, BoardTracker
Twitter TweetBeep, TwitterSearch
Social Bookmarking StumbleUpon, Digg, Reddit, Delicious
Social Media Search Engine
SocialMention, Serph, Keotag
Social Media Monitoring Tools (continued)
Multimedia Search YouTube, Flickr
Custom Feed Social Media Firehose (Yahoo Pipes)
Professional Tools Trackur, Techrigy SM2, Radian6, Visible Technologies
Website Traffic Google Analytics, Quantcast, Alexa, Compete
Blog Traffic & Backlinks
Technorati, Wordpress
Dashboard Netvibes
Collect
Alterian SM2 indexes the entire social media universe, across the globe and across all platforms.
StoreAlterian’s Social Media WarehouseSM, created in 2007, contains over 5 billion social media mentions, blogs, tweets, posts, images and conversations.
UnderstandAn incredibly powerful and intuitive tool, the AlterianSM2 User Interface enables clients to visualize, analyze, communicate and share findings. Turn content into actionable insight.
The SM2 Technology Components
Over 5 Billion Results
Who Should do This?
Holistic Approach
FIVE STEP PROCESSMeasurement
5 Steps to Success
1. Listen using a comprehensive tool
2. Decide on Objectives & Plan Strategy
3. Objectives will Define Metrics
4. Benchmark & Execute
5. Measure, Report & Refine
1. Listen
Consider:
• Daily Volume• Social networks being used• Locations of communities online & offline• Sentiment & Tone
Daily Volume
How much are
people talking
about your
brand?
6 months: 137, 113
Trending avg: 732/day
Volume: Social Channels
Where are they
talking?
Where are conversations taking place online?
Focus on places consumers are most active.
Plan your strategy.
Where does your audience reside?
Identify new stakeholder groups. Grow membership base.
How do consumers feel about your brand?
Find out what they do or don’t like...
and who’s letting you know.
How polarized are the conversations?
2. Choose Objectives - Value and ROI
Use Case Value/ROI
Brand Audit Identify opportunities in Social Media
Social Media Campaigns Measure progress of Social Media efforts
Corporate Marketing Increased sales & rate of return on ad spend
Customer Service Increased satisfaction, brand loyalty, awareness
Competitive Insight Identify differentiating features & innovate
Public Relations Efficient use of time & identify influencers
Sales – Lead Generation Increased sales & shortened sales cycle
Search Engine Optimization More effective SEO & organic visibility
Product Development Reduced market research costs
HR Reduced hiring costs & less churn
3-4 Define Metrics and Benchmark
Goals will meet the objective(s)
Percentage increase or decrease of desired results
Examples:
15% increase in word of mouth
10% decrease in demand on call center
5% increase in leads from social channels
15% cost reduction in product development costs
Benchmarking sets the stage.
Potential Goals
• Bring outside ideas into organization• Generate more word of mouth• Increase customer loyalty• Increase product/brand awareness• Improve new product success ratios• Improve public relations effectiveness• Reduce customer acquisition costs• Reduce customer support costs• Reduce market research costs• Reduce product development costs
Tip – Choose 1 or 2 to start with
5. Monthly Reporting
• Report on Objectives– established from goals of the position
• Qualitative– Trends in members, topics, discovery of new communities
• Quantitative– Benchmark based on previous report
• Web Analytics – unless someone else is tracking them
• Recommendations – Based on interactions with customers
Comparing Volume
Blue is specifically about Tiger
Represent a specific proportion of total conversations
METRICS & KPI’S
Customized KPI’s
Social Reach Indicators
Alterian generated content
views on Slideshare, whitepaper downloads
Blog subscriptions
Community Health Indicators
Volume of conversations about Alterian products
Social Influence/Reputation Indicators
Reach of participation in:
speaking, training customers/staff, collaborations
CASE STUDIES
After 3 months - Customer base increased by 57%
• Eliminated cold calling• Multiple demo and pricing requests per day• Increased sales staff• Established brand visibility
After 6 months: Increased by 269%
• Freemiums converting without entering sales funnel
• Techrigy acquired by Alterian
At 1 year: Increased by 840%• expanding Twitter engagement
across the enterprise
Techrigy’s Value and ROI of a Twitter engagement
Increasing Customer Engagement by Listening
• 9 sites across Texas• 18,000 staff, 90,000 patients• www.mdanderson.org
Background
• Started monitoring in 2007 using free tools• Monitored online conversations about:
– Cancer experiences– Online discussion of their treatment– Their brand and cancer related topics– The communications they were creating
“Our desire to get closer to patients and the generalpublic online, and engage with those who were sociallyconnected, meant we had to be able to monitor a much larger number of sources”.
Jennifer Texada
ROI of Patient Referral at MD Anderson
Campaign goal:
To increase the number of doctors who registered with the hospital’s online electronic medical records system and in turn increase the number of patients referred.
Tracked spread of campaign using SM2 and web analytics
Noted a 9.5% increase in patient referrals in 3 months
“This was a real eye-opener to how social media could
benefit the business,” Texada said. “We could see which
activity made most impact and which spread fastest.”
Evaluating Public Education
• Strategy planning• Used SM2 to review historical data
– Decided to not run the same Prostate Cancer Awareness program
– They ran a more general campaign on men’s health
• Healthy eating• Eating on a budget• Exercise
Resulted in significantly more traffic
Resources
• ROI Series of 10 white papers – http://AlterianSM2.com– Freemium version of SM2
• Groundswell by Charlene Li and Josh Bernoff
• Measuring Public Relationships by Katie Delahaye Paine
• Putting the Public Back in Public Relations by Brian Solis & Deidre Breakenridge
• Personality Not Included by Rohit Bhargava
• Trust Agents by Chris Brogan & Julien Smith
Connie Bensen@cbensen
http:communitystrategist.com
Director of Community Strategy, Alterian