rockhouse partners - social media measurement for neta
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TRANSCRIPT
2011 NETA ConferenceSocial Media Measurement
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Is it worth the effort?
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“We don’t have a choice whether we DO social media, the question is how well we do it.”
- Erik Qualman
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Social media isn’t a fad…it‘s a fundamental shift in the way we communicate.
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You can’t buy attention anymore. The old media paradigm was PAYto PLAY. Now… you’ve got to be willing to PLAY to PLAY.
- Alex Bogusky
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Social media is like teen sex…
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Everyone wants to do it.Nobody knows how.When it’s done, it’s surprising that it’s not better.
- A. Kaushik, Google
That said…
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It takes…
1. People2. Technology3. Time… all of which are limited
resources.
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If you can’t measure it,you can’t manage it.
And…
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In other words
The best social mediastarts and ends with data.
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The future of social media is about math, metrics and monetization.
Before we go any further
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We’re going to talk about…
Return On Investment
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The ROI equation
(Gain from investment – Cost of investment)
Cost of investment
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So is everyone else measuring social media ROI?
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Social media metrics
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It actually is easy to measure…just not with conventional success metrics.
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Three categories
1. Quantitative metrics2. Qualitative metrics3. ROI metrics
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Quantitative metrics
Data-intensive and number-oriented. e.g. unique visits, page views, followers, demographics, and frequency.
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Qualitative metrics
The emotional component.e.g. if 80% of your viewers “love” your programming and 20% say it “needs improvement”.
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Or, a mix of QUANT and QUAL:the number of positive comments on a specific post in a given week.
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Or…number influential blogs linking to you.
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ROI metrics
All roads lead here.e.g. how has social increased viewership or led to more donors.
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The key:pick the key metrics that most impact your station, and don’t get bogged down with the rest.
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Data alone isnot enough
Action Data
Reporting
Analysis
Insight
At the endof the day…
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There is a sequence
Investment
Action
Reaction
Non-financial impact
Financial impact
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Not everything is measurable:Loyalty Trust Passion
Interaction Brand awareness
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Driving traffic is half the battle.What users do/see/feel on your website once they click… matters as much (if not more).
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Do “likes” and “followers” matter?Successful social media strategies focus on morethan just getting attention.
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So are “1,000 true fans” better?
10 ROI best practices
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ROI best practices
1. Define goals and objectives. e.g. what exactly are you trying to accomplish and how will you measure success?
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ROI best practices
2. Track everything. All the time.
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ROI best practices
3. Give viewers donor opportunities where they live and play.
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ROI best practices
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ROI best practices
4. Look at all metrics in one place. i.e. develop a comprehensive dashboard of stats.
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ROI best practices
5. Test, test, test.
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ROI best practices
6. An email address is always far more valuable than a social interaction.
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ROI best practices
7. Don’t think of social media channels in silos. Allow disparate social networks to complement and amplify each other.
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ROI best practices
8. ROI isn’t just about tracking success metrics. You should also track time spent managing social media.
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ROI best practices
9. Learn how to best communicate social media ROI to key stakeholders.
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ROI best practices
10.Be patient. It’s a process, not an event.
