Measuring Social Media Effectively Tactics for monitoring by byt34827

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									Measuring Social Media Effectively
Tactics for monitoring, measuring and analyzing
social media campaigns




                                          Wednesday – July 22, 2009
                                                      Interactive Marketing Services


Who Is EyeTraffic Media?




   “EyeTraffic Media supports organizations of all sizes to easily build
    and manage interactive marketing programs, including: Search
    Engine Marketing, Online Media Buying, Targeted E-mail, Viral
    and Social Marketing, as well as other emerging media.

    Market leaders like National Geographic, Unicef, and The United
    Way, partner with EyeTraffic Media to build stronger relationships
    with their members and audiences at a fraction of the cost of
    traditional marketing methods.”



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                                                Interactive Marketing Services


Today’s Social Media Marketing Webinar Discussion


  1) The State of Social Media Online

  2) The Power of Influence & Identifying Influencers

  3) Understanding Social Velocity

  4) The ROI (…or “ROP”) of Social Media

  5) Measuring Social Media Marketing For Success

  6) Recap and Q&A



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                                                                                     Interactive Marketing Services


Five Trends for 2009


1. Brands’ target audiences are on social networks – There will be an estimated
   44% more social network users in 2013 than in 2008*

2. Brands need to keep information fresh – In order to keep users engaged,
   brands must ensure to keep their content fresh and updated*

3. Other types of social networks will emerge – Viewers will continue to look
   for networks that enable them to share and spread information*

4. Explore the impact of social networks on shopping – Consumers are
   increasingly relying on social networks to get product related information;
   brands must link this to the purchase process*

5. Two-way conversation – The old model of the one-way conversation is over.
   Users want to be part of the dialogue, so make sure you’re listening


   *Source: eMarketer: Social Networks Five Consumer Trends for 2009 February 2009


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                                                       Interactive Marketing Services


What Does This Mean for You?


   • Word of Mouth will always be the best form of advertising for
   your organization

   • Friends will always take advice from friends (trust)

   • But with Social Media, the definition of “Friends” has changed
   drastically

   • It’s not a question of if but when you will join the conversation

   • More importantly, how will you be able to determine if social
   media has been effective




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                  Interactive Marketing Services




Regular Members

Best Members

Influencers




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                                                        Interactive Marketing Services


Identify Personas

    •     The success of your viral campaign will depend greatly on
          how well you have researched the marketplace and analyzed
          your target demographic
    •     Creating customer personas allows you to determine one or
          more key target groups into a simple demographic profile

              Characteristics   Persona 1   Persona 2     Persona 3
        Gender

        Ethnicity

        Zip Code

        Age

        Education Level

        Internet Usage

        Habits

        Goals

        Problems/Needs


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                                                                         Interactive Marketing Services


Whose Word of Mouth Matters?




            *Source: eMarketer: Whose Word-of-Mouth Matters? June 2009
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                                                     Interactive Marketing Services


Understanding Social Velocity


   Social Velocity is a formula methodology that describes
   exponential growth and predicts the organic virility of content.

   Social Velocity is controlled by four primary variables: The 4Cs
   Content, Connections, Community and Conversions



                                                   Social Velocity
                                                   (Viral Growth)


                                                  Traditional
                                                  Advertising
       TRAFFIC




                             AD SPEND
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                           Interactive Marketing Services


Example: Social Velocity




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                                                    Interactive Marketing Services


Some Critical Considerations

  1. Your brand no longer belongs to you

  2. If you don’t control the conversation – someone else will

  3. If you can’t control the conversation – you must at least become
     an authentic part of it

  4. A little bad pushes out tons of good

  5. Talking to existing audiences/members in MUCH more valuable
     than trying to solicit new ones

  6. Value exchange is critical for engagement




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                                  Interactive Marketing Services




How Can You Measure Social Media Effectively?



              (R O P )
    RETURN ON PARTICIPATION




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                                                 Interactive Marketing Services


Is ROP Important



   Consider it this way…

    Think about all of the people in your life including friends
    and family. How much would you be willing to pay to
    keep them in your life?

    When it comes to relationships, ROI is NOT the metric.




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                                  Interactive Marketing Services


What is the ROP in Social Media


    - Brand building

    - Relationship management

    - Service development

    - Reputation management

    - Audience interaction

    - Audience feedback

    - Customer support

    - Community building

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                   Interactive Marketing Services




 Measuring Social Media
Marketing for ROP Success




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                                                    Interactive Marketing Services


Advocacy Measurement

 What Is It?

 − Advocacy: “act or process of advocating or supporting a cause of
   proposal”
 − Advocates actively recommend products/services to others
 − Advocacy Measurement: processes used to measure the act of
   advocacy

 What Should I Measure?

 1. How often your product/service is recommended
 2. Number of times a survey about your product/service is
    completed
 3. What motivates people to become advocates for your
    product/service
 4. What topics are advocates of your product/service discussing

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                  Creates awareness
                      Interactive Marketing Services
From unknown to
center stage!




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                            them an Services
                     GivesInteractive Marketing edge
It’s all about
interaction – when
and how they want.




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Helps build their personal brand
                  Interactive Marketing Services




                  150,142 and counting
                  real supporters… err
                  friends!




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                                                    Interactive Marketing Services


Conversation Volume & Share

 What Is It?

 − Conversation Volume: measures overall amount of word of mouth a
   product/service receives within specific time period

 − WOM equivalent to Sales Volume

 − Conversation Share: looks at group of similar brands and the
   amount of conversation each has compared to the total amount

 What Can I Use To Measure?

 1. Syndicated Research (Research Firms, 3rd Parties, Etc.)
 2. Custom Research (Use own resources and advocates)


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                                            Interactive Marketing Services


Conversation Volume & Share: Diet Coke & Mentos Example




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                                                         Interactive Marketing Services


Conversational Reach

 What Is It?

 − Enables an understanding of how far a given marketing message
   spreads

 − Provides marketer with opportunity to determine other outcome
   based metrics (sales, awareness, etc.) to wider population

 − Referring to number of people who’ve been exposed to a social
   media brand related message through peer-to-peer connections

 Why Important?

 1. Utilize Power of Influence
 2. Enjoy benefits of Viral Cycle & Total Referability


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                                                        Interactive Marketing Services


Conversational Reach: Total Referability
 Total Referability: Sum of all referrals that come from an initial
  advocate

 For Example:




Consumer 1 referred 2 people

1 of those 2 people was Consumer 2 who referred 5 people

Consumer 1’s Total Referability = 2 + 5 = 7

Important to monitor each level to determine best advocates

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                                                   Interactive Marketing Services


Online Methods For Quantifying Conversation Reach




 1. URL Analytics Tracking of Website Visitors

 2.   Email Analytics Tracking

 3. Refer-A-Friend/Send-To-A Friend Tracking Platform

 4. Blog Reader Surveying

 5. Generational Conversation Validation & Tracking Platform




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                                                   Interactive Marketing Services


What To Consider When Measuring


 − WHO: Personas of Participants (Demo & Psychographics, Credibility)

 − HOW: The “Action” (Social Velocity, Conversation Volume & Share)

 − WHAT: The “Item” (Timeliness, Clarity, Depth)

 − WHERE: Location (Reach, Awareness, Audience)

 − RESULTS: Key Performance Indicators (Goals, ROP)




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                                                      Interactive Marketing Services


Final Measurement Points To Remember

   •   Traffic to site can be measured by referral sites, organic
       listings, etc.

   •   Amount of conversation threads – number of comments
       you receive

   •   Overall brand image - if one month they slam your
       brand, and the next they are singing your praises, that
       is a success

   •   Amount of times something is shared with other people

   •   Using analytics, set up goals to track conversions
       through KPI paths

   •   Number of inbound links to a page or site – which can
       subsequently affect your natural search rankings


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                                                      Interactive Marketing Services


Helpful Tool # 1: Twitalyzer

  Unique tool to evaluate the activity of any Twitter user and report
   on relative influence, signal-to-noise ratio, generosity, velocity,
   clout, and other useful measures of success in social media.

    http://www.twitalyzer.com/twitalyzer/index.asp




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                                                  Interactive Marketing Services


Helpful Tool # 2: Facebook Grader

  Helps you measure the power and reach of your Facebook user
   account or business page

    http://facebook.grader.com/




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Questions & Answers
Final Thoughts on Social Media
                                                      For More Information:
                                            Twitter: www.twitter.com/eyetraffic
                                                   Blog: insight.eyetraffic.com




To learn more about how to Measure
Social Media Effectively– please contact:
    George Assimakopoulos
    Principal Manager
    E-mail: george@eyetraffic.com

    Ryan Moss
    Media Specialist
    E-mail: rmoss@eyetraffic.com




                                              Toll Free: 1-888-868-MKTG (6584)

								
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