Social Media Analytics
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A look at what social media analytics, KPIs and other insights you should be focusing on to help improve your social media marketing campaigns.
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Social Media Analytics
- 1. Social Media Analytics Taylor Pratt Raven Internet Marketing Tools @RavenPratt | raventools.com/oms
- 2. What is the ROI of social media?
- 3. The key to social media success is understanding your audience.
- 5. Nielsen’s State of the Media: The Social Media Report http://raven.im/nielsensm
- 6. Nearly 4 in 5 active Internet users visit social networks and blogs.
- 7. 70% of active online adult social networkers shop online, 12% more likely than the average adult user
- 8. Socially engaged consumers spend 20 to 40% more than other customers.
- 9. 53% of active social networkers follow a brand.
- 11. How do consumers access social media? Are you • 97% - Computer ready? • 37% - Mobile Phone • 3% - Gaming Console • 3% - iPad • 2% - Internet-Enabled TV • 2% - E-Reader • 1% - Handheld Music Player
- 12. What is the ROI of social media?
- 13. According to Oliver Blanchard, you’re asking the wrong question.
- 14. What is the ROI of [insert activity here] in social media? Oliver Blanchard The BrandBuilder Blog Author of Social Media ROI
- 15. Social Media Marketing Process Discovery Measurement Listening Execution Planning
- 16. Social Media Marketing Process DISCOVERY
- 17. Start Monitoring Brand [Keyword] Mentions Product Mentions Mentions Competitor Influencer Mentions Mentions
- 18. What to Identify Social Networks Forums Associations Key Influencers Popular Topics
- 19. Tools That Can Help $150/mo $775/mo $99/mo Based on Usage Free Based on Usage
- 20. Social Media Marketing Process LISTENING
- 22. How are your customers using social media?
- 23. Where are they participating?
- 24. Do they interact with other companies?
- 25. What are they already saying about you?
- 26. What is their activity level on each social network?
- 27. Who are the key influencers on each network?
- 28. Save time and money by properly evaluating potential advocates.
- 29. Create a Scorecard Customer Advocate Share of Voice Reach Topics Overlap Arachnoids, Peter Parker 5% 50,000 Red Heads, Medium Goblins Tank Tops, Hulk Hogan 2% 25,000 High Weight Lifting Cheesy Poofs, Eric Cartman 12% 120,000 Low Racial Slurs
- 30. Don’t overlook social media as a product innovation hub.
- 31. Monitor both your brand, your competitors’ brands and keyword mentions for customer pains.
- 32. Social Media Marketing Process PLANNING
- 33. Step 1: identify your business objectives
- 34. Types of Social Media Goals • Engagement • Customer Support • Brand Recognition • Product • Reach Development • Share of Voice • Brand Sentiment • Sales • Brand Advocates • Brand Loyalty • Brand Trust
- 35. Get more specific! • Reduction in sales cycles • Reduction in customer support costs • Number of product improvement suggestions from [social network] • Increase in product reviews/ratings • Number of people in [specific location] who follow us on Twitter
- 36. Other KPIs to Consider • Volume of consumer- • Interaction/engagement created buzz rate • Seasonality of buzz • Number of interactions • Rate of virality • Store locator views • Embeds/installs • Registrations by channel • Increases in searches • User-initiated views • Ranking improvements
- 37. Step 2: identify your value add
- 38. Wal-Mart: Low Prices Southwest Airlines: Freedom Harley Davidson: Rebellion
- 40. Step 3: define your level of commitment
- 41. Social Media Marketing Process EXECUTION
- 42. How is social media impacting your other online marketing activities?
- 44. Social Media Marketing Process MEASUREMENT
- 45. Brand Awareness Brand Share of Recognition Voice Engagement Reach
- 46. To measure Share of Voice compare brand mentions to competitors.
- 47. Source: Web Analytics Demystified & Altimeter Group http://bit.ly/pratt1
- 48. To measure Engagement, measure participation.
- 49. [Social Network] Interactions Engagement = Engagement Total Views Source: Web Analytics Demystified & Altimeter Group http://bit.ly/pratt1
- 50. To measure Reach, compare audience participation to your audience reach.
- 51. Source: Web Analytics Demystified & Altimeter Group http://bit.ly/pratt1
- 52. Customer Oriented Goals Customer Brand Sentiment Support Product Brand Development Advocates
- 53. Measuring Customer Support Reduction in Increase Increase Support Resolution Resolution Costs Rate Rate Reduction in Improved Leads On-Site Customer Generated Support Satisfaction by Support
- 54. Measuring Brand Sentiment Sentiment by volume of posts and impressions Number of positive reviews generated Number of mentions of your brand’s value add Average resolution time to reputation crises
- 55. Measuring Product Innovation Number of new Number of new product ideas product ideas built Traditional R&D time saved research cost savings
- 56. Measuring the success of your brand advocates fulfills two goals: 1. Provides an understanding of the ROI you receive 2. Provides you with data to better incentivize advocates
- 57. It is okay to reward advocates for their hard work. Wouldn’t you want to be rewarded?
- 58. Use event tracking in Google Analytics to quickly assess the virality of your content.
- 60. The key to successful social media measurement is asking questions.
- 61. Thank You! Taylor Pratt Raven Internet Marketing Tools @RavenPratt | raventools.com/oms
Editor's Notes
- Brand mentionsProduct mentionsKeyword mentionsInfluencer mentionsCompetitor mentions
- What are people saying about you already? Find out with word clouds.
- Time, money & resources
- Brand recognition – see word clouds and how they’ve changed.