Social Media Competitive Analysis & Benchmarking Session 2
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The document outlines strategies for social media competitive analysis and benchmarking, emphasizing the importance of effective social listening, accurate demographic targeting, and recognizing the illusion of success in ROI. It presents exercises for defining marketing objectives and understanding audience behavior, along with analyses of competitive performance on platforms like Facebook. The overall goal is to achieve sustainability and long-term value through optimized social media strategies.
Social Media Competitive Analysis & Benchmarking Session 2
- 1. Session 2: Social Media Competitive Analysis & Benchmarking
- 2. Session 2: Social Media Competitive Analysis and Benchmarking โ Setting an appropriate scope for analysis โ Effective social listening for measurement and observation โ Detecting the illusion of success and decipher what contributes to real ROI โ Achieving sustainability for long term value
- 3. How long is that piece of string
- 5. Exercise โ Campaign name โ Product โ Company name and URL โ Marketing objectives: โ Geography (limit to one country) โ How many people reached/converted โ Demographics โ Time frame โ Budget (estimate) โ Keywords
- 6. How long is that piece of string
- 8. Size matters
- 9. Exercise
- 10. Changing online behaviour Know your audience. Digital tools can help you be very precise if you understand your goals and stick to them
- 11. Changing online behaviour โ Location โ Age โ Gender โ Language โ Interest โ Behaviour โ Connections โ Budget zozoeli@ymail.com
- 12. Exercise, How did you do? โ Campaign name โ Product โ Company name and URL โ Marketing objectives: โ Geography (limit to one country) โ How many people reached/converted โ Demographics โ age โ gender โ interests โ Time frame โ Budget (actual)
- 13. Effective Social Listening โ Content aggregation โ Lead generation โ Data harvesting โ Crisis/ Reputation โ CRM โ Share of voice โ ?
- 14. Setting the right KPIโs
- 15. Social Listening
- 16. The โWsโ of listening โ Who โ What โ Where โ Why KOLโs, Leads, Thought leaders, Potential problem makers (gunners) Understanding the conversation, collecting data, identifying trends, keyword usage, key questions Which social sites, times of day, content preference Competitor info, CRM, content selection, sentiment, crisis alerts
- 18. Detecting the Illusion of success
- 19. Thank you
- 20. Thank you
- 21. Club Monaco Facebook This selection of competitors was not done with any preconceived ideas. They were randomly selected or had been in past comparisons. What is important to notice is that despite the large Fan size of Club Monaco (472k) the Fans appear to be either of poor quality or maintenance of the page is below expectation. The last column (Ad Value) displays what the cost would be to achieve the same marketing result if you used Facebook advertising and the page did not exist. As you can see US$408 dollars is not very much. ยฝ million Fans and virtually no ROI
- 22. CND Strategic Analysis January 2015 Competitors The graph on the left shows the number of Fans each of brands have on their Facebook page. The graph on the right shows the level of Fan interaction weighted for the number of Fans. Most all are performing inline with each other. David Wellington is the exception. What we take away from this is all are performing significantly below the industry projected minimum of 1% organic engagement. The roller coaster look of David Wellington suggests paid performance. None are performing to even minimum expected industry standards. Fans Weighted Avg.
- 23. CND Strategic Analysis January 2015 CGO Demo Defining the correct demographic. CGO has implemented an aggressive paid Like campaign of Facebook. The result is a page skewed toward males and geographically not aligned. The CKO Facebook page is skewed significantly towards Asian countries however, the target is largely North America.
- 24. Facebook Demographic It was recognised at the beginning of the project that the Fan base was not accurately aligned with the desired customer target. Along with low quality of Fans, analysis shows low education levels and a disproportionate number of blue collar jobs. CND Monthly Report Feb - March 2015 CGO Facebook Fan Demographic Data
- 25. Facebook Demographic The most remarkable finding is the spending habits of the CGO Facebook Fan base. They appear to underspend across most all metrics and are much less likely to use credit cards (online purchases). CND Monthly Report Feb - March 2015 CGO Facebook Fan Demographic Data
- 26. CGO Facebook Demo Targeting Insight and Learning Demographic shifting. Moving from an over representation of non-target countries. Top chart shows existing Fan base Bottom chart shows that the content strategy is reaching a target audience closer to the desired demographic. The overrepresentation of Mexico is likely the result of Mexico being a significant portion of the existing Fan base and the new focus on North America CND Monthly Report Feb - March 2015 15,000 9,000
- 27. Facebook Demographic Device Usage It is all about the mobile experience. CND Monthly Report Feb - March 2015
- 28. Achieving sustainability for long term value โ Session 3 Optimising Your Social Media Strategy โ Session 4 Content and Editorial Creation โ Session 5 Brand Publishing โ Session 6 Social CRM and Engagement
- 29. Summary Summary โ Remember basic business rules. โ Scope of project must be realistic โ Expectations and size as it relates to Fans needs to be accurate โ Use tools to help you make informed decisions โ What you can see is seldom all there is