measurement is sexy - wikibrands
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Sean Moffitt's presentation at the Canadian Marketing Association Social Media Conference June 2012, with help from friendsTRANSCRIPT
Measurement is Sexy (and could be even sexier)
CMA Social Media ConferenceTorontoJune 12th, 2012
Wikibrands - Reinventing Your Organization in a Customer-Driven Marketplace www.wiki-brands.com
#wikibrands#CMAsocial
@seanmoffitt@wikibrands
@cdnmarketing
The Old Spice Guy of Business + Digital + Marketing + Social
Alternate Presentation Title
What “words” come to mind when you think of measurement?
evil necessaryboring
helpful
geeky
nerdylieing
tough
expected
critical
inconclusive
wrong elusive worth itinaccurate
useless
integrated
vital
number-crunchingsoul-destroying management
New Media Needs To Grow Up
1998-2001 2002-2004 2005-2006 2007-2008 2009-2011 2012- ???
What is it? Should we do it?
How do we test it?
How do wemake it core?
The Evolution of Engagement/Social
“Geek is Chic”
“I keep saying that the sexy job in the next 10 years will be statisticians. And I’m not kidding.”
Hal Varian, Chief Economist, Google
Source: MasterInIt.org
The Geekiness of TV – Top Shows….
1982
GeekFactor/Intellect
1992 2002 2012
December 2011December 1996
What We Love On TED Talks
Of Metrics Of Data Of Infographics
Some Big Ideas on Sexing up Social
Media Measurement?
Devon SmithDirector of Social Media, Threespot
Libby SneadSenior Marketing Manager, Simply Measured
Get a Nice Room…
”Know who thinks that you’re sexy back."
Jeff EspositoPR & Social Media Manager , Vistaprint
”Seeing it, is believing it."
Stew LangilleCEO and Co-Founder, Visual.ly
" I get an orgasm over big data. Make love to data directly and find the unknown unknowns."
Avinash KaushikDigital Marketing Evangelist, Google
Why is Social Media Measurement Sexy?
What Makes People Sexy?
Sexy Attributes?- Intimacy
- Going Places
- Important
- Fit
- Good Listening
- Attractive
- Tell a good Story
Sexy Attributes?- Many
Talents/Connections
- Responsive to Needs
- Tell a Good Story
#1 Intimacy – The more you use it, the sexier you know it is
Source: IBM
#2 Going Places – Sexiest growth segment in a terrifying world
$326M
$689M
TBD
$300M
$400M
#3 Important – Sexiest internal social priorities for companies
Source: Altimeter 2011
#4 Fitness – Not many of us practice it well
#4 Fitness – Not many of us do all of it
To Access
and Monitor
It
To Analyze It and
Measure It
To ExtractValue and
InsightFrom It
To ProjectIt and Build
Foresight
To Socialize
and Communi
-cate It
#5 Good Listening Skills are Sexy
Source: Agent Wildfire 2011 Buzz Report
Biggest Sins of Social Media Practitioners
#6 Attractive/Good LooksDashboards and Infographics
Source: Radian6 dashboard
#6 Attractive/Good LooksInfographics and Dashboards
Google Search Returns “Infographics”: Jan’01 – 0.5 millionJune’12 – 14.2 million
#7 Many Talents and ConnectionsBroad Health Signs and Connected Data
Marketing/brand engagement health
Business/Sales health
Employee/internal health
Customer service/response health
Research and Innovation Health
Customer Experience Health
Web
Social media
Internal
Mobile
Face to Face
Phone
Community
Retail
#8 Responsive to NeedsLess than ½ of Us Track and Follow IUp
Source: Satmetrix 2012
Engage with Customer Queries and Information….quickly
#9 Storytelling - Merchandise and Generate Narrative from
Your Measured Successes
http://stories.facebook.com/http://stories.twitter.com/
#9 Storytelling - Stumble Upon, Charity Water and Toyota
What’s In the Way of Social Media
MeasurementSexiness?
The biggest obstacles that continue to exist in implementing social media/WOM in your
company/clients?
1. Inability to measure 40%2. Lack of budgets 31%3. No accepted standards/benchmarks 29%4. Fear of loss of control 29%5. Inability for culture to accept 25%6. Technical skills/expertise not in place 23%7. Do not understand diff. bet. Mass marketing 21%
Source: Agent Wildfire Buzz Report 2011
Biggest Hurdles to Measurement Sexiness – The Uncontrollables
-Sentiment and Language Limits
-New social behaviours/new networks/new media
-Data quality and datasets
-Vendor specific approaches and Industry standards
Source: Insites Consulting 2012
There is no silver bullet to measurement
Social Media Value
(vs. objective)=
Benefits – Risks----------------------
Cost
Measurement - You Need to Roll Your Own
Really?“What’s the ROI of putting on your pants every morning?”
Scott Monty, Ford Head of Social Media
Organic factors:Core product/service + Customer Experience
Content and Engagement factors:Interestingness + Socialness + Intimacy + Authenticity + Reputation + Incentives
Amplification and connection factors:Presence + Value adds (UGC+insights+support) + Advocacy
Proportion and Expectations?
Source: Booz Allen
How to Make Social Media Measurement
Sexier?
“Baseball thinking is medieval, they are asking all the wrong questions…
Using stats to reread them, we'll find the value of players that nobody else can see. Because everyone else in baseball under values them. Like an island of misfit toys.”
The communication, collaboration and social media underrated list:
➷ Content – variety/engagement/impact difference
➷ Community – active members/contributions
➷ Insight and Foresight – business changes from social influence and impacts
➷ Influence – two-level influence/differential impact
Measuring Your Home, Neutral and Away Game
Home:Website
BlogCommunity
Forums
Away:Social Networks
Sharing SitesOther BlogsInfluencers
Neutral:Brand Pages
Personal ProfilesRSS Feed
Facebook Connect
The Future
Agent Wildfire/Wikibrand’s 3rd Annual Buzz Report Survey
“We will be able to track the presence and value of conversations much more accurately over the next
decade”
88% agree/strongly agreehttps://www.surveymonkey.com/s/buzzreport2012
The socialization of everything…and that’s OK but frustrating
13.8% of online population…
…create 80% of the online influence posts
6.2% of online population…
…create 80% of the online influence impressions
R E C Sx x x
Four sources of Influencer power
Reach Exposure Credibility Suasion
=
Now we can provide the raw evidence
Sexy Measurement Brands
• Leveraging what we see in conversations
• Initiating discussion and dialogue
• Acquiring people for our community
• Managing our communities
Molson uses LIAM
Area of Benefit - Microsoft
Feedback - Emerging top issues - Product issues identified
Advocacy - Word of mouth/evangelism/Sharing - Important stakeholders - VIPs
Support - Break-fix issues - Recognize people who provide answers
Nestor Portillo, Microsoft – Worldwide Director, Community and Offline Support
What to Change
Ten Things If I Was Running Your Social Media Measurement Gig
#1 Build a central and localized real-time dashboard
#2 Measure the value of social insights, customer support and innovation
#3 Hire a sexy infographics designer
Ten Things If I Was Running Your Social Media Measurement Gig
#4 Update CEO every month –
#5 Test ½ year experiments
#6 Train and expand staff measurement use
Ten Things If I Would Be Running Your Social Media Gig
#7 Time Management – Steps – spend 1/4 of time on monitoring/1/4 of time on reporting/1/4 of time on insight and 1/4 time on foresight
#8 Time Management – Source – spend 1/3 of time on your owned metrics/your shared metrics/your earned metrics (home, neutral and away game)
#9 Don’t benchmark to competition
#10 Tell Stories and Celebrate Milestones
Moneyball Knows …
Reframing the Game“Your goal shouldn't be to buy players. Your goal should be to buy wins. In order buy wins, you need to buy runs.”