Using Metrics to Prove Social Media ROI Success

© 2012 Webtrends, All Rights Reserved.

Using Metrics to Prove Social Media ROI Success

© 2012 Webtrends, All Rights Reserved. |2

Introductions

@John LovettSenior Partner Web Analytics Demystified

John Lovett is a Senior Partner at Web Analytics Demystified, Inc. and the author of Social Media Metrics Secrets (Wiley, 2011).

A former Forrester Research Analyst and current Vice President of the Web Analytics Association, John blogs about web analytics industry trends, strategy, business culture, and social analytics.

Merlyn GordonSr. Product Marketing Manager Webtrends

Merlyn has spent the last decade helping leading brands succeed with digital marketing, social CRM, and multi-channel measurement solutions.

He is currently responsible for product marketing activities related to Webtrends’ digital measurement solutions, including site, mobile and social analytics.


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The Four Categories of Social Analytics

Foundational Measures

Counting Metrics

Business Value Metrics

Outcome Metrics


Counting Metrics Can Get You Started

Counting Metrics Are Usually FREE

‣ These are the most basic and readily available metrics in social media

• More than 50% of companies are collecting: fans, mentions, contributors, and traffic metrics

• Think Facebook Insights or YouTube channel profiles

• Counting metrics are a measure of volume

‣ Volume-Based metrics can be helpful for sizing your audience


Collaborate to Find Business Value

‣ Business Value metrics are calculated to align social activity & results with key stakeholders

• These metrics should be developed for specific roles• Get out and talk to your peers – ask hard questions• Your job is to collaborate with stakeholders

‣ Communicating business value with your social media metrics is a CRITICAL task


Business Value Metrics for Executives


Business Value Metrics for Sales, Service & Marketing


Don’t Forget Why You’re in Business

Humanize Your Approach by Measuring Social Media Outcomes

‣ A Tested Framework for Social Media Outcomes:• Gain Exposure• Create Dialogue• Encourage Interactions• Facilitate Support• Build Advocacy• Spur Innovation

‣ Outcome-Based objectives allow you to connect social programs to customers


Identifying Social Media Outcomes

Outcomes Need Associated Metrics …


Social Media Foundational Measures

‣ Gaining buy-in and creating metrics is the hard work; don’t blow it by introducing data doubts

– Metrics must have reproducibility– Gain this by insisting upon standardized

calculations– Publish data dictionaries and knowledge bases

‣ Analytics programs require governance and Foundational Measures can help


Foundational Measures are building blocks.Without them you get Chaos

Foundational Measures are building blocks.Without them you get Chaos

Foundational Measure Calculations


The Four Categories of Social Analytics


Counting Metrics


Outcome Metrics


• Counting Metrics = – Tweets, Contributors, Reach

• Outcome Metrics = – “Amplification”

• Business Value Metrics = – Referrals, Conversions, Revenue

Measuring Customer Acquisition on Twitter


Twitter Counting Metrics

Data Source: TweetReach


Twitter Counting Metrics

Data Source: TweetReach


Outcome Metrics Usually Require Exporting Data...


Calculating Outcomes: Twitter

– Amplification is a relative number that should be evaluated in context


Assessing Business Value

• Business Value comes from integrating data

• Assess your social activities by importing social data to your analytics tool:

– Website Referrals from Twitter– Conversions events from Twitter– Revenue from Twitter


Don’t Miss An Opportunity for Analysis

• Integrated Data also yield insights:

– When does Amplification correlate to Conversions?– Which message types produce highest Conversions?– Which words produce the highest Conversion rates?– What time of day are messages Amplified most?– Which users drive the Amplification and Conversion?– Is there a business case to invest more in Twitter?


Engaging Fans on Facebook

• Counting Metrics = – Likes, PTAT, Total Reach

• Outcome Metrics = – “Engagement”

• Business Value Metrics = – Campaign Response Rate, Loyalty, Advocate

Impact


• Only 6% of fans engage with brands on Facebook*

• More Likes Engagement

• Fans “engage” other fans...

• *According to a new study by Napkin Labs

• http://mashable.com/2012/10/18/facebook-fan-engagement-2/

Counting on Engagement


http://mashable.com/2012/10/18/facebook-fan-engagement-2/

Facebook Counting Metrics

Data Source: Facebook Insights


Facebook Counting Metrics

Data Source: Facebook Insights


Exporting Facebook Insights Data


Correlating Outcome Metrics






• How are you defining Engagement?– Do you have Engagement defined by channel?– Are you comparing cross-channel social

Engagement?– Do your colleagues understand Engagement?

Establishing Your Foundational Measures


• Business Value = what’s important to your brand

• Communicate the value of social activities in language that your peers understand:

– Loyalty– Customer Satisfaction– Sales at-the-shelf

Communicating Business Value


• Interpret your data• Provide business context• Offer insights and recommendations

Producing Analysis & Insight


Bonus Metric!


Counting Metrics


Outcome Metrics


The Most Important Metric is Usually Hardest to Quantify ...

Impact


Counting Metrics


Outcome Metrics


Insights from Web Analytics Demystifiedwww.webanalyticsdemystified.com

Senior Partner, Web Analytics Demystified

www.socialmediametricssecrets.com

[email protected]

@johnlovett

John Lovett

http://www.socialmediametricssecrets.com/

mailto:[email protected]


Questions?

Q & A Session

Moderated by Merlyn Gordon

Webtrends

John Lovett

[email protected]

john.webanalyticsdemystified.com

@johnlovett

Merlyn Gordon

[email protected]

blogs.webtrends.com

@merlyngordon

|43© 2012 Webtrends, All Rights Reserved.

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Additional Webinar

[Webinar] Developing a Framework for Social Measurement featuring Susan Etlinger of Altimeter Group

http://understanding.webtrends.com/AltimeterSocialMeasurementWebinar

Related Resources

[Solution Brief + Data Sheet] Learn more about Webtrends Social Measurement:

http://www.webtrends.com/products/analytics/social

[Announcement] HootSuite Integrates with Webtrends to Connect Social Media Messages to Website Conversion Metrics.

http://ow.ly/e9Nl2


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Using Metrics to Prove Social Media ROI Success