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Show me the Money - Proving success in social media

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iCrossing
iCrossing

This document discusses how to prove the success of social media marketing efforts. It acknowledges that [1] investment has traditionally followed measurable sales results rather than true returns, and [2] digital journeys are complex so data should help understand user behavior. The document recommends [3] conducting a STOP analysis of social media's strategic, tactical, and organizational impacts and developing an engagement framework and measurement models aligned with objectives to prove social media's value.

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Proving success in social media Philip Buxton, head of marketing, iCrossing UK SHOW ME THE MONEY
AGENDA PROVING SUCCESS IN SOCIAL MEDIA Context The curse of the last click Due diligence STOP analysis Engagement framework Measurement models Defining success Proving the case
CONTEXT INVESTMENT HAS FOLLOWED ATTRIBUTABLE SALES Disproportionate spend on paid search Money follows demonstrable ROI, rather than ‘real’ returns. An entire industry built around ‘the last click’
CONTEXT WE KNOW DIGITAL JOURNEYS ARE MORE COMPLEX New tools are allowing us to see the real worth of digital channels But data should only help us build stories of user behaviour What about offline experiences?
“ MARKETING IS NOT A FUNCTION, IT IS THE WHOLE BUSINESS SEEN FROM THE CUSTOMER'S POINT OF VIEW.” Philip Kotler (SOURCE: Flickr.com/Matt McGee)
SOCIAL MEDIA ARE MAINSTREAM They are how your customers do and will view brands
CONTEXT ‘ HOW MUCH SHOULD I SPEND ON SOCIAL MEDIA?’ We shouldn’t seek to apply financial measures to non-financial behaviours (Forrester) ‘ What’s the least I should do?’ Due diligence – become literate, have a strategy
DUE DILIGENCE ICROSSING’S 3 TOOLS FOR SOCIAL MEDIA STRATEGY STOP Analysis Engagement framework Measurement models
DUE DILIGENCE STOP analysis Strategic – how does the social web affect my marketing strategy? In a world where information and experience is ‘networked’ how can we market ourselves? Tactical – how should my marketing campaigns/customer service be different in the short-term now that these new platforms exist and are dominant? Organisational – social media cuts through departments. How might we organise ourselves better? What platforms do we need to build and who should own them? Personal – I and all those around me need to know the rules of engagement in social media so we can act appropriately and with confidence. What rules should we set?
DUE DILIGENCE ENGAGEMENT FRAMEWORK
DUE DILIGENCE MODELS OF SOCIAL MEDIA MEASUREMENT Forrester Advises against assigning financial values to non-financial metrics: Fails to measure true business value Gets in the way of achieving objectives Can attribute success to the wrong channels Is for a “balanced social media marketing scorecard”: Financial – revenue or profit increases or costs decreases Digital – enhancement of own or earned digital assets Brand – positive changes in consumer attitudes to the brand Risk management – improvements in preparation to note and respond to attacks or problems that affect reputation Aligns measurement to corporate objectives, enhancing strategic development and satisfying as many stakeholders as possible
DUE DILIGENCE MODELS OF SOCIAL MEDIA MEASUREMENT IAB
DUE DILIGENCE MODELS OF SOCIAL MEDIA MEASUREMENT Virtue Calculates ‘value’ of a Facebook page using fan count, customer activity, brand activity, and a proprietary engagement multiplier Configurable CPM of ‘earned media’ that defaults to $5
DEFINING SUCCESS WHAT IS THE OBJECTIVE?
BRIEF Raise awareness of the new iQ city car through the use of social media SOLUTION Hypermiling identified as key topic through social research Hypermiling stunt to drive to 18 cities on one tank of fuel Project reported through a range of social media channels, Flickr, Twitter, YouTube, Google maps mashup and the iQ blog Word of mouth used to contact influential bloggers lightly informing them of project RESULTS Programme ‘reached’ 105 million people worldwide. 3.7m in the UK, through coverage in 64 blogs, including Wired, New York Times and Treehugger Traffic to iQ blog increased by 212% - 32x traffic from external sources Traffic arrived with ‘advocacy’ in-built from independent editorial coverage WHAT IS THE OBJECTIVE? Awareness measured? Awareness up?
DEFINING SUCCESS WHAT WAS THE OBJECTIVE? Ann Summers case study Reach, CPM, coverage, brand perception, ‘sentiment’ Toyota iQ case study Reach, coverage, traffic, traffic source, ‘advocacy’
DEFINING SUCCESS PROVING THE CASE Be utterly clear on the objective. Measure against that alone Use numbers, but only to tell a story Compare - how else could the objective have been achieved? Or…
TRUST ME I’M A MARKETER (SOURCE: Flickr.com/Matt McGee)
THANK YOU Email: [email_address] Twitter: @icrossing_uk Blog: http://connect.icrossing.co.uk Website: www.icrossing.co.uk

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Show me the Money - Proving success in social media

  • 1. Proving success in social media Philip Buxton, head of marketing, iCrossing UK SHOW ME THE MONEY
  • 2. AGENDA PROVING SUCCESS IN SOCIAL MEDIA Context The curse of the last click Due diligence STOP analysis Engagement framework Measurement models Defining success Proving the case
  • 3. CONTEXT INVESTMENT HAS FOLLOWED ATTRIBUTABLE SALES Disproportionate spend on paid search Money follows demonstrable ROI, rather than ‘real’ returns. An entire industry built around ‘the last click’
  • 4. CONTEXT WE KNOW DIGITAL JOURNEYS ARE MORE COMPLEX New tools are allowing us to see the real worth of digital channels But data should only help us build stories of user behaviour What about offline experiences?
  • 5. “ MARKETING IS NOT A FUNCTION, IT IS THE WHOLE BUSINESS SEEN FROM THE CUSTOMER'S POINT OF VIEW.” Philip Kotler (SOURCE: Flickr.com/Matt McGee)
  • 6. SOCIAL MEDIA ARE MAINSTREAM They are how your customers do and will view brands
  • 7. CONTEXT ‘ HOW MUCH SHOULD I SPEND ON SOCIAL MEDIA?’ We shouldn’t seek to apply financial measures to non-financial behaviours (Forrester) ‘ What’s the least I should do?’ Due diligence – become literate, have a strategy
  • 8. DUE DILIGENCE ICROSSING’S 3 TOOLS FOR SOCIAL MEDIA STRATEGY STOP Analysis Engagement framework Measurement models
  • 9. DUE DILIGENCE STOP analysis Strategic – how does the social web affect my marketing strategy? In a world where information and experience is ‘networked’ how can we market ourselves? Tactical – how should my marketing campaigns/customer service be different in the short-term now that these new platforms exist and are dominant? Organisational – social media cuts through departments. How might we organise ourselves better? What platforms do we need to build and who should own them? Personal – I and all those around me need to know the rules of engagement in social media so we can act appropriately and with confidence. What rules should we set?
  • 11. DUE DILIGENCE MODELS OF SOCIAL MEDIA MEASUREMENT Forrester Advises against assigning financial values to non-financial metrics: Fails to measure true business value Gets in the way of achieving objectives Can attribute success to the wrong channels Is for a “balanced social media marketing scorecard”: Financial – revenue or profit increases or costs decreases Digital – enhancement of own or earned digital assets Brand – positive changes in consumer attitudes to the brand Risk management – improvements in preparation to note and respond to attacks or problems that affect reputation Aligns measurement to corporate objectives, enhancing strategic development and satisfying as many stakeholders as possible
  • 12. DUE DILIGENCE MODELS OF SOCIAL MEDIA MEASUREMENT IAB
  • 13. DUE DILIGENCE MODELS OF SOCIAL MEDIA MEASUREMENT Virtue Calculates ‘value’ of a Facebook page using fan count, customer activity, brand activity, and a proprietary engagement multiplier Configurable CPM of ‘earned media’ that defaults to $5
  • 14. DEFINING SUCCESS WHAT IS THE OBJECTIVE?
  • 15. BRIEF Raise awareness of the new iQ city car through the use of social media SOLUTION Hypermiling identified as key topic through social research Hypermiling stunt to drive to 18 cities on one tank of fuel Project reported through a range of social media channels, Flickr, Twitter, YouTube, Google maps mashup and the iQ blog Word of mouth used to contact influential bloggers lightly informing them of project RESULTS Programme ‘reached’ 105 million people worldwide. 3.7m in the UK, through coverage in 64 blogs, including Wired, New York Times and Treehugger Traffic to iQ blog increased by 212% - 32x traffic from external sources Traffic arrived with ‘advocacy’ in-built from independent editorial coverage WHAT IS THE OBJECTIVE? Awareness measured? Awareness up?
  • 16. DEFINING SUCCESS WHAT WAS THE OBJECTIVE? Ann Summers case study Reach, CPM, coverage, brand perception, ‘sentiment’ Toyota iQ case study Reach, coverage, traffic, traffic source, ‘advocacy’
  • 17. DEFINING SUCCESS PROVING THE CASE Be utterly clear on the objective. Measure against that alone Use numbers, but only to tell a story Compare - how else could the objective have been achieved? Or…
  • 18. TRUST ME I’M A MARKETER (SOURCE: Flickr.com/Matt McGee)
  • 19. THANK YOU Email: [email_address] Twitter: @icrossing_uk Blog: http://connect.icrossing.co.uk Website: www.icrossing.co.uk