Are You Measuring The Right Social Media Metrics?
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It was Einstein who said "just because you can measure something doesn't mean you should". In the world of social media, Facebook 'likes' are very easy to measure, but very hard to value. Is it therefore possible that we are basing our activity in social media around things that are easy to measure, rather than the things that create the most value? In this lunchtime webinar, Richard Stacy discusses the value of measuring social media metrics and which ones we should be focussing on.
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Are You Measuring The Right Social Media Metrics?
- 1. Page 1 © Emarketeers 2007
- 2. A bit about me • 20 years agency experience (Saatchi & Saatchi / Publicis) • 7 years experience in social media • Trainer and mentor • Mission: to clarify all the unnecessary complexity and confusion that exists (and in some cases is deliberately being perpetrated) about social media Page 2 © Emarketeers 2013
- 3. Making the wrong assumptions about the social media environment Being seduced by the tools Page 3 © Emarketeers 2013
- 4. Einstein “Not everything that can be counted counts, and not everything that counts can be counted” Page 4 © Emarketeers 2013
- 5. A story about social media measurement ? Page 5 © Emarketeers 2013
- 6. Objective = maximising reach and engagement Page 6 © Emarketeers 2013
- 7. Page 7 © Emarketeers 2013
- 8. Page 8 © Emarketeers 2013
- 9. How does this translate into a business benefit? What is the link between your Facebook activity and the metrics? Page 9 © Emarketeers 2013
- 10. ? ? Translation into a business benefit? Page 10 © Emarketeers 2013
- 11. “The great thing about Facebook is that it tells me what people think of my latest TV ad” Page 11 © Emarketeers 2013
- 12. Perhaps you shouldn’t be measuring social media activity. Perhaps social media activity is the measure Page 12 © Emarketeers 2013
- 13. Perhaps a Facebook Like is a bit like a degree celsius Page 13 © Emarketeers 2013
- 14. So activities designed simply to generate social media ‘engagement’ is like putting a thermometer in warm water in order to raise the temperature Page 14 © Emarketeers 2013
- 15. Page 15 © Emarketeers 2013
- 16. The UK’s 3rd most engaging post in November 2012 Page 16 © Emarketeers 2013
- 17. The UK’s 2rd most engaging post in November 2012 Page 17 © Emarketeers 2013
- 18. The UK’s most engaging post in November 2012 Page 18 © Emarketeers 2013
- 19. Competitions = most effective way of creating Facebook ‘engagement’ Competitions Does not mean that the most effective way of using Facebook = competitions Does not even mean that Facebook is the most effective way to run a competition Page 19 © Emarketeers 2013
- 20. A word about scale Facebook is a good way of reaching 0.0022% of your audience Page 20 © Emarketeers 2013
- 21. How to use your social media agency Page 21 © Emarketeers 2013
- 22. There are no audiences in social media Facebook was designed to help geeks get girlfriends Page 22 © Emarketeers 2013
- 23. Different environments Social media Traditional media World of the audience Audience creation task Channel and message Reaching out Reach and frequency Creating engagement with target audiences Page 23 © Emarketeers 2013
- 24. Different environments Social media Traditional media World of the individual Behaviour identification and response Set of tools or infrastructures Page 24 © Emarketeers 2013
- 25. It is never sensible to measure frequency of tool usage Measurement is related to what you want to make, not your effectiveness in using a tool Facebook Twitter Page 25 © Emarketeers 2013
- 26. Measurement linked to value, not activity Activity being measured Creation of value Page 26 © Emarketeers 2013
- 27. Measurement must be linked to objectives A defined business objective (what it is you want to use social media to achieve) Page 27 © Emarketeers 2013
- 28. Why do organisations overlook objectives? Travel with their existing marcoms objectives Assume that reach and frequency is the objective Page 28 © Emarketeers 2013
- 29. Activity t Page 29 m en s u re Mea Obje ctive s Organisations that understand objectives © Emarketeers 2013
- 30. Organisations that have worked this out Vodafone identified a longterm need to hire 40 specialist technicians (in an area not conventionally associated with mobile telecoms). A £1.5 million budget was allocated (advertising and agency fees) Objective: To hire at least 50% via direct recruitment (via social channels), thus saving agency costs Page 30 © Emarketeers 2013
- 31. Organisations that have worked this out Process – train existing employees on social networking and publication techniques – to raise the profile of Vodafone’s expertise and participation in this space. Note: they did not publish the availability of jobs Result: 80% of the hires made via direct recruitment, saving approx. £1.3 million Page 31 © Emarketeers 2013
- 32. Insight Social media is a business process It can be applied to almost any area of a business It is driven by behaviour identification and response processes Page 32 © Emarketeers 2013
- 33. Organisations that have worked this out Business Objective • Identify the occasions on which consumers most enjoy cheese • Confirm hypothesis that consumers most enjoy their cheese product in a BBQ setting Actions Taken • Strategically place cheese next to eggs and dairy aisles • Developing commercial in breakfast setting • Creating other “breakfast themed” campaigns Usage of social media - listening • Cheese gets the most “buzz” and conversation at breakfast time • Consumers talk more about making omelets than cheese burgers Results/ Outcome • Saved time and money on market research • Increased the sales of the cheese by moving it closer to breakfast foods Source: @drnatalie Page 33 © Emarketeers 2013
- 34. Insight Listening and the creation of intelligence is where the greatest value lies All your social media activity should be based on responses to what you hear Page 34 © Emarketeers 2013
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- 36. IBM: Listening for leads Page 36 © Emarketeers 2013
- 37. Logitech KachWachi has saved Logitech $250,000 in call deflection costs Page 37 © Emarketeers 2013
- 38. Lego Mindstorms Productive engagement – the engagement your customers want to give, rather than the engagement you want to create Page 38 © Emarketeers 2013
- 39. We all got seduced by the Facebook fairy airy Page 39 © Emarketeers 2013
- 40. The future battlefield “My kingdom for a monitoring dashboard!” Extracting value from listening and response Creating the Expectation of Listening Page 40 © Emarketeers 2013
- 41. In summary - what most organisations are doing Audience creation Mount Social Media Page 41 Measurement = how many “engagement millimetres” we have pushed the boulder today Failure to understand and locate the source of value in the environment they are operating within © Emarketeers 2013
- 42. Learnings Have to measure the creation of value, not the rate of activity Activity becomes connected to value – via establishing objectives Usage of social media (tools) is never an objective in itself – don’t measure your usage of the tools Page 42 © Emarketeers 2013
- 43. Learning A social media strategy is a business process strategy It is about behaviour identification and response, not channels and content (reach and frequency) Value is created through the ability to listen and respond (social media is the measure) Page 43 © Emarketeers 2013
- 44. Go with the social media gravity! 15 November 2013 Page 44 © Emarketeers 2013
- 45. Thank you! • See all our courses at: http://www.emarketeers.com/training-courses • Or call us on 0845 680 1235 or follow us… @Emarketeers http://www.facebook.com/Emarketeers http://www.linkedin.com/company/Emarketeers http://plus.google.com/emarketeers Page 45 © Emarketeers 2013