planning value measurements into your social media strategy
DESCRIPTION
A webinar given as part of the Brighttalk Social Media Marketing Summit in September 2009. http://www.brighttalk.com/webcasts/6326/playTRANSCRIPT
“Show me the money!”planning value measurements into your social media strategy
jenni lloyd / strategy director / nixonmcinnes
i’m strategy director at social media agency nixonmcinnes
hello! I’m Jenni Lloyd
we help connect brands with people through the social web
The UK’s largest dedicated team of social media specialists; founded in 2000
Full service social media agency: strategy, network mapping, outreach, design, build & community management
Thought leaders: instigators of ‘MeasurementCamp’
Social proof :)
can confidently explain the value of social media?
uses social media?
knows what social media is?
Hands up (virtually) who…
So what is social media?
It’s not about tools…
It’s something bigger…
we’re seeing a fundamental shift
from a time when we saw our websites as a destination
‘build it and they will come’
to a recognition that our customers are playing elsewhere
if we want to talk to them we need to be where the conversation is
we need to be useful
and we need to be wherever they want us to be
…we now have a platform that creates both expressive power and audience size. Every new user is a potential creator and consumer, and an audience whose members can co-operate directly with one another, many to many, is a former audience.
Clay Shirky / writer. teacher. consultant / shirky.com
The broadcast model of
communication is dead
Social media is like teen sex. Everyone wants to do it. Nobody knows how. When it’s finally done there is a surprise that it’s not better
Avinash Kaushik / Analytics Evangelist / Google
Measuring this stuff is hard
Why should we care?
Time’s they are a’ changin’
Bob Dylan / iconic singer-songwriter
The traditional marketing model is being challenged and CMOs can forsee a day when it will no longer work
McKinsey Quarterly / 2005 / number 2
To find something comparable, you have to go back 500 years to the printing press, the birth of mass media – which, incidentally, is what really destroyed the old world of kings and aristocracies. Technology is shifting power away from the editors, the publishers, the establishment, the media elite. Now it’s the people who are taking control.”
Rupert Murdoch* / Media Magnate / Wired Magazine / July 2006
* Rupert Murdoch said this… in 2006!
welcome to the world of empowered consumers
Madmen no more…
Monitoring & Measuring Social Media - Agent Wildfire 2009
Trying to shout loudest and longest
isn’t going to work any more
...of consumers don’t believe that companies tell the truth in advertisements -Yankelowich
76%
FUTURELAB
83% trust the word of a friend, 60% trust consumer reviews written by strangers
Businesses that don’t implement web 2.0 tools will stay behind
Darko Herlick / Gartner
Web 2.0 is...
characterized as facilitating communication, information sharing, interoperability, user-centered design and collaboration on the World Wide Web. It has led to the development and evolution of web-based communities, hosted services, and web applications
Wikipedia.org
Coca-Cola have got the right idea…
Adam Brown, digital communications director at Coca-Cola
I’ve made the case… now how do I prove the value?
What do you want measure - the ‘social’ or the ‘media’?
David Alston / Radian 6
Are traditional measures
appropriate?
SocialMedia
Business ValueIncrease In RevenueDecrease In Costs
Objectives:• Reach• Awareness• Coverage• Continuity
Measures:• # of visitors• # of page views• Time on site• Conversions
• Leads/Subscriptions/Sponsorships
Objectives:• Loyalty• Advocacy• Trust• Influence• Engagement
Measures:• Sentiment • Comments • Feedback • Mentions • Readership
The ROI of social media / Lumension / 2009
Define relevant success metrics that translate into a business context
Forrester Groundswell model
Listening
Understand your customers better & generate insight
Talking
Participate in conversations with customers & help them talk to each other
Energising
Identify your fans & help them help you market your services
Supporting
Help your customers support each other
Embracing
Integrate your customers insight into your development process
This isn’t just a job for Marketing
Each team brings a new set
of metrics to the party
Social Media spans the whole business
Listening = research
Cost of focus groups or market research
Talking = marketing
Cost of advertising in a similar content channel / cost of SEO/PPC
Energising = sales
Value of leads generated / %age spread virally
Supporting = customer support
Reduction in call centre costs / value of repeat custom
Embracing = service development
Value of new ideas generated
One of our clients runs a loyalty programme
One of our first actions was to design and build a blog as a feedback channel to the main site.
Acting as a rapid publishing platform the blog both enables consumers to comment and converse about the programme and provides the client with valuable feedback with which they can improve their offer to consumers.
We also redistribute content published to the blog to other social spaces, such as Facebook and Twitter, through RSS feeds.
We worked with internal stakeholders in the marketing, PR and legal team to establish a moderation and escalation process and now moderate the very active blog on a daily basis.
We also run a successful Twitter presence, with the number of followers having doubled week on week since launch.
What Does All This Mean in Practice?
The blog: the touchy feely stuffBuild loyalty & trustgive members a platform for conversationmeasure number & frequency of comments & % of positive comments
Increase satisfactionengage with members and find out what they would like from the programmemeasure good suggestions made and how many are implemented
QUAL!
The blog: the cold, hard stuffGenerate registrationsgenerate interest/awareness amongst prospects measure registrations referred from the blog
Encourage participation in the programmegenerate interest/awareness amongst membersmeasure RSS subscriptions, click throughs from RSS, repeat visits referred from the blog and overall 3 month active figure
QUANT!
The blog
35
The blog: traffic and on-site registrations
36
Twitter: quant & qualUse Twitter to inform prospects & members about upcoming rewards, limited stock and exclusive competitionsgenerate interest/awareness amongst prospects & membersmeasure traffic referred from Twitter using bit.ly
Build loyalty and trustbe nice to people who mention us on Twittermeasure amount of positive conversations about us on Twitter each week
Awareness
passive follower
active follower
inquisitive follower
Winners
Strangers
Evangelists
strangers – no awareness of the brand on twitterIdentified through searching twitter for relevant conversation topics and targeted with relevant messaging to encourage following.
awareness – know of the brand but not a followerIdentified through searching twitter for brand terms and signposted to our profile to encourage following.
passive follower – following but not engagedEncouraged to engage with us through asking questions, serving them offers and signposting to content.
active follower – following and engaged on a low levelTalking to others about us, but not to us – we will contribute to their conversations to drive engagement with us and the site.
inquisitive followers – following and engaged directly with usTalking directly to us – we will engage with them, providing useful information and help to create loyalty.
evangelists – engaged followers that are our advocatesFollowers who regularly retweet our messages and offers, signpost people in their network to us and generally help usfurther grow our followers.
Our Twitter engagement scale & messaging plan
Twitter Metrics
39
Evangelists
Opted-in
Buzz Monitoring
94 mentions this week with a sentiment score of 0.9. This is a 59% increase in mentions since last week.
Twitter is site with most mentions this week (63) – this includes a lot of buzz generated by official account and its followers
Buzz: week on week
Some tipsto get you started
who are they?
where are they online?
what are they doing?
what tools are they likely to use?
know your audience
find out who’s saying what about you
set up Google alerts
use addictomatic / twitter search
listen
invest in tools
what is it you’re trying to achieve…
know your objectives
to listen and understand?
to engage in conversations?
to generate buzz?
to encourage participation?
offer value
be authentic, transparent and helpful
link to those that disagree
disclose your position/interests
match your message to the environment -these are social spaces…
follow the rules of engagement
a facebook fan page?
a blog?
ratings and reviews on your site?
twitter?
choose the right tools
an island in second life?
use what’s right for your audience and objectives, not the big new thing
finally... we can all learn from this man
widgets
blog
you tube
podcasts
raised $250m - lots & lot of small donations
A message from our sponsors…
Attend the IDM Social Media Booster course and receive a £50 discount on the usual price of £495Next date: 08 October 2009Venue: Cavendish Square, London
Places are filling up fast! Book your place now via [email protected] www.theidm.com/smb
special discount for attendees of this webinar
Any questions?
nixonmcinnes.co.uk
nixonmcinnes.co.uk/ebooks
twitter.com/nixonmcinnes
Thank you!