Web 2.0 new metrics new media oct 2011
- 1. New Metrics for New Media Web 2.0 Expo New York CityOctober 10 2011
- 2. What we’re going to do todayOverview of the sessionStrategy & measurementNew media imperativeReview scorecard templates/metrics for 6 different scenarios >break in the middle<Brand exampleScorecard & metrics Tool demo Organizing for Social Media Q & A
- 3. Logistics Hashtags: #socialmeasure #w2ePeople: @setlinger, @blake, @margaretfrancisSurvey: http://surveymonkeyReferences: SlideShare, GoogleDocs, Contact Info Link to Altimeter Report: http://www.slideshare.net/setlinger/altimeter-social-analytics081011final
- 4. Who We Are Margaret Francis / @margaretfrancisCurrent Chief Product Officer at stealth mode startup Former VP Product Scout Labs/ Lithium Technologies, former agency strategist at RazorfishSusan Etlinger / @setlingerIndustry Analyst with Altimeter GroupFormer SVP at PR firm Horn Group, 20 years agency/ inhouse marketing and communications Blake Robinson / @blakeFocused on analytics implementations and startup consulting•Former Director, Technology & Research at Attention and Analyst in Residence at Webtrends•Have written for TechCrunch, Read/Write Web and Mashable
- 6. The (Not So) Dirty Little Secret“There is no single ROI for social media.”- Richard Binhammer, Strategic Corporate Communications, Social Media. and Corporate Reputation Management, Dell Inc.,
- 7. Tying Social Media to the Business
- 8. Few Know How to Measure
- 10. The Use Cases for New Media
- 11. Media & Measurement, 1990TVPrintSale!OOHRadioWOMMailWarranty CardTelephone SurveyCredit/ Payment InfoFocus groups
- 12. We get digital
- 13. Measurement, 2000Online AdsClicksPage ViewsRegisterOptinSessionsSearchTVSale!PrintOOHRadioWOMWarranty CardMailTelephone SurveyCredit/ Payment InfoFocus groups
- 14. We get social
- 15. Measurement, 2011Review ProductBlogPostPostDiggMake videoShareTweetRe-TweetFanLikeReviewBook markRateOnline AdsClicksPage ViewsRegisterOptinSessionsSearchSale!TVWarranty CardPrintOOHCredit/ Payment InfoTelephone SurveyRadioFocus groupsWOMSocial Media
- 16. The more digital our communications get, the more transactions we perform online, the higher our expectations of what we can measure
- 17. So what can we measure?
- 19. Three Kinds of Marketing Metrics ACTIVITIESCONSUMER RESPONSEBUSINESS OUTCOMESVideos postedTweets responded toOnline media servedChanges in perception (NPS, Intent to purchase, customer satisfaction)Consumer engagements (Like, Click, Download)Submission of information (email, lead form, shopping preferences) Revenue Cost Savings Better ROIHigher market share
- 20. On being in love with perfect data"All models are wrong; some models are useful”George Box, Statistician
- 21. New Media Use Cases Brand Health (including PR/ Reputation Management) Marketing OptimizationRevenue GenerationCustomer Experience Operational Efficiency Innovation
- 22. Brand HealthA measure of attitudes, conversation and behavior toward your brand
- 24. Brand HealthMetric: Share of conversation on a specific topicUsed with permission of Netbase
- 25. A look at InfluenceSource: SocialFlow
- 27. Net Promoter Score (NPS)
- 30. Share of Voice/ Share of Conversation
- 31. Themes/ Clusters
- 33. Buzz Timeline with Annotations
- 35. Market Share
- 37. Themes/ Clusters
- 38. Crimson Hexagon for Social Analytics38iPhone on Verizon: Key ThemesCrimson Hexagon’s proprietary algorithm separates relevant from irrelevant content and measures user-defined themes in online conversation.
- 39. Tracx Social Analytics39Tracx offers white labeled social media monitoring platform.
- 40. Shows contextually weighted hits across many social mediums.
- 41. Can be tweaked to remove internal (employee) influencers in order to show more accurate campaign results.Gauging InfluencersNear the end of September Klout scores dropped by approximately 4 points across the board – with no explanation.
- 42. Tools that gauge influencers should not be trusted until these algorithms stabilize.40
- 43. But if you must…Peer Index is a decent alternative whose numbers don’t wildly fluctuate. 41
- 44. Marketing OptimizationImproving the effectiveness of marketing programs
- 46. Marketing OptimizationMetric: Conversion Efficiency: Which visits convert most often?% of Visitors
- 48. Owned Media Channels Growth
- 49. Owned Media Channels Vs Competitors
- 52. Engagement- Beer
- 54. Engagement- Posts, Comments, Likes
- 55. Shareaholic- http://www.shareaholic.com/siteinfo/usatoday.comView the sharing stats of any sites shared through the Shareaholic browser extension
- 56. Pages are accessible at http://www.shareaholic.com/siteinfo/sitename.comFacebook InsightsFacebook Insights provides a top down perspective on who comprises your audience and what they do on your Facebook Page.54
- 57. Facebook Insights for WebsitesYou can include a tag on your site which will allow you to measure the impact that Facebook Likes/ Share have on you site traffic.
- 58. Excellent supplement to Google Analytics (even with the recent introduction of real time analytics).55
- 59. Simple Server Side Analytics Via Tagging Chartbeat provides an excellent way to visualize the correlations between content publishing and real time site traffic.
- 60. Simple for marketers to use: put a (really light) tag on your site and Chartbeat’s server side analytics will analyze the data for you.Simple Server Side Analytics Via Tagging In addition to its standard Chartbeat product, two specialized analytics platforms are now offered.
- 61. Newsbeat is focused aimed at content creators, bloggers, etc.
- 62. Shopbeat is designed specifically for ecommerce sites.Revenue GenerationWhere and how your company or organization generates revenue
- 64. Revenue GenerationMetric: Increase in member spendingSource: http://www.lithium.com/pdfs/casestudies/Lithium-FICO-Case-Study.pdf Disclosure: Lithium is a client of Altimeter.
- 66. Keys to Revenue AttributionSource attribution in the CRM system Source interaction in the CRM system Social media identity appended to the database
- 67. BitlyBit.ly provides analytics behind each link and breaks down the number of clicks and other truncated links to the same site, as well as referral and geographical data.BitlyBit.ly, and other URL truncation services, also provide a layer of analytics that can extend your tracking capabilities to any destination that allows clickable links.This allows you to track referrals through walled services like Facebook and LinkedIn.
- 68. ROI: Page Views Vs. Sales
- 70. >break<
- 71. Customer ExperienceImproving your relationship with customers and their experience with your brand
- 73. Customer ExperienceMetric: Social Service Levels(in development)Dell’s Social Media Listening Command Center (Courtesy Dell, Inc.)
- 78. Qualitative Consumer Opinion on NetFlix
- 82. Topsy is better on all counts.
- 83. Functional breakouts by time, content, influence, etc.TOPSY LabsTopsy provides analytics behind your searches.
- 84. Topsy is better than Twitter’s own search on all counts.
- 85. It’s free!Operational EfficiencyWhere and how your company or organization reduces expenses
- 87. Operational EfficiencyMetric: Percentage of inquiries resolved in social channels
- 90. Response Rate
- 91. Response Time
- 92. InnovationCollaborating with customers to drive future products and services
- 94. InnovationMetric: Ideas generated, productized per year
- 98. Organizing for SocialIdentify your organizational model for social media.Based on that model, outline the roles and responsibilities of your measurement team, including:ResourcesOwnershipProcessesTraining and educationCollaboration
- 99. Organizing for SocialIf you choose to outsource some or all social media monitoring:Balance domain expertise, analytical skill, and tool masteryConsider information sensitivityPlan for knowledge transferImplement checks and balancesCompare expenses
Editor's Notes
- #5: No service bias.Converseon, Undercurrent, Attention, Edelman
- #46: Time on Site
- #62: SusanPetco Example
- #77: Here’s a look at nearly 210,000 consumer opinions from Twitter related to Netflix and its recently announced change in its pricing plans. It’s not surprising that 65% tweeting about Netflix reacted negatively to the change. What is surprising is that 14% of customers expressed the following opinion: “Goodbye Netflix, Hello Redbox”. If you were Redbox, what would you do with this information? How about Hulu? Could this change your plans if you’re Hulu?
- #78: Crimson Hexagon, founded in 2007, is the leading provider of real-time social media monitoring and analysis to brands, agencies, media firms and their partners. Powered by patent-pending technology developed at Harvard University’s Institute for Quantitative Social Science, the Crimson Hexagon ForSight™ platform overcomes the limits of traditional market research by delivering a real-time view of how engaged online consumers truly think and feel about a brand or issue.You may remember that HP recently announced the end of its WebOS tablet as well as its desire to divest itself of the PC hardware business. We analyzed about 120,000 online opinions (all from Twitter) related to HP’s news. We found nearly 60% of online consumers disagree with this move and feel that HP is making a mistake. 10% even stated they had intended to buy an HP device. If you were Leo Apotheker (HP’s then CEO) wouldn’t you like to understand this real-time consumer opinion about your business strategy?