measuring meaning, creating value from data to action in social media © 2008 zaaz, inc. all rights...
TRANSCRIPT
Measuring Meaning, Creating Value
from data to action in social media
© 2008 ZAAZ, Inc. All rights reserved. Confidential information.
Ryan Turner
Social Media Lead
Jason Burby
Chief Analytics and Optimization Officer
Ryan = Social MediaJason = Measurement
Other places you can find us:
www.websocialarchitecture.comwww.amazon.com
We work at ZAAZ
Performance-Driven Design
WE BELIEVE SUCCESS DOESN’T HAPPEN BY ACCIDENT.
IT REQUIRES A UNIQUE COMBINATION OF LOGIC AND
CREATIVITY TO ACHIEVE YOUR ONLINE OBJECTIVE.
MORE THAN JUST A VIVID IMAGINATION, CREATIVITY IS
EXPRESSED THROUGH INNOVATIVE THINKING,
COMPREHENSIVE ANALYSIS TO CONTINUOUSLY
IMPROVE YOUR RESULTS.
WE CALL IT PERFORMANCE DRIVE DESIGN. IT WORKS.
AND, YES,
WE CAN PROVE IT.
Agenda
• The Web is a social medium.
• Focus on quality, not quantity.
• Case studies.
• Social media generates business intelligence.
• Cultivate business intelligence.
• Start with the basics.
• Discussion.
THE WEB IS A SOCIAL MEDIUM
When we talk about social media, what we really mean is
participation.
Some Context: Ryan’s Ten-Cent History of the Web
Community-Focused Broadcast ParticipatoryUser-Generated
Bottom-Up
HTML
High Threshold of Entry
Low Bandwidth
Text-Based
Collaboration
Corporation-Driven
Top-Down
Data-Driven
No entry
Flash intros!
Text and Images
Transaction
User-Generated
Bottom-Up
Standards-Driven
Lower Threshold of Entry
High Bandwidth
Multimedia
Interaction
1980’s-1994 1994-2005 2005-Now
Web 2.0 and social media are social phenomena above all.
Blogs Discussion Boards
Forums Chat IM Vlogs
Moblogs SMS Podcasts
Microblogs Photo Blogs
Prediction Markets RSS
Collaboration Collective
Intelligence Communities
Wikis Recommender Systems
Mashups User-Generated
Content
Social media is made up of people, relationships
among people, and things people create and share
VS
What Is Social Media
The tool-centric mentality has produced
some of the worst marketing ever.
“Just because we understand tax code doesn’t mean we can’t bust mad flow.” --Intuit
People don’t want to connect with each other online.
But that’s not the whole story. People do want value.
“The purpose of a business is to create value for its customers, and the reward for doing
so is profit.”
The long-term winners are the ones who create the most value,
not the ones who convert the highest percentage of traffic.
The winners create meaning.
They make stuff that matters.
FOCUS ON QUALITY, NOT QUANTITY.
Not how much stuff you have, but what kind of stuff.
Not how many people show up, but how many come back.
Not how many conversations, but their inherent intelligence.
Not how many people listen to you, but how well you listen, how much you learn, and what you do about it.
“We’ve already got 100,000 registered users.”
“Our users have posted 2500 videos.”
1. Monitoring and response
Where are your people, and what are they saying?
2. Social media products and services
How can you engage customers to co-create value around your core offering?
3. Integrated social tools
What doors can you open, enabling your customers to participate?
4. Intranet
What business value do your participants create?
Four Flavors of Social Media: Quality Questions
How does this work in practice?
Quantity:
• Visits
• Members
• Number of Projects
Quality:
• Active Members
• Average Rate of
Participation
• Positive Offsite Blog
Postings
• Return Visitor %
Quantity vs. Quality Measurements
Quantity:
• My Beacon Activations
• Learn about My Beacon
Visits
Quality:
• Active My Beacon Users
(5x/month)
• Avg. # of Buddies per
Active User
• % Regular User vs. Heavy
Users
Quantity vs. Quality Measurements
Quantity:
• Number of reviews
submitted
Quality:
• % of Reviews “Helpful” 75%+
of the Time
• Review Visits per Product Visit
• % of Reviewers “Heavily
Engaged”
• Conversion Rate based on
Review
Quantity vs. Quality Measurements
Quantity:
• Visits
• Page Views per Visit
Quality:
• Total MVP Activity
• Total Comment Prints
• % Rating Experience
“Helpful”
Quantity vs. Quality Measurements
We’ve already done a lot of great work.Quantity:
• Visits
• Page Views
• Comments
Quality:
• Survey % - Expanded
View of MS Office
capabilities
• Survey % - helpful
content
• % Visits Downloading
Templates
Quantity vs. Quality Measurements
Quantity:
• Raw comment counts
• Visits
Quality:
• % of Votes Over/Under
100 words
• % of “Recommend
Comments” selected
• Rate of Full Page Scrolls
Quantity vs. Quality Measurements
Quantity:
• Visits
• Ideas Submitted
Quality:
• % Return Voters
• # of Customer Ideas
Implemented
• # of Ideas with 20k+ votes
• % with Dell Status Updates
• # of Active Members
Quantity vs. Quality Measurements
Quantity:
• # of Ratings
Quality:
• Clickthroughs to BlendTec Site
• Total Comments
• Video Views
• Active Subscriptions
• “Favorited” Based on Views
Quantity vs. Quality Measurements
THE BASICS ARE THE SAME
Start with your goals.
Get the right tools, and set them up right.
Act on what you learn.
.
Traditional Best Practices Still Apply
A plethora of tools are emerging to monitor online chatter, measure
sentiment, and streamline the effort of engaging with customers.
Tools. There are a bazillion of them.
Every brand should build a programmatic
approach to measuring and managing
customer engagement online.
And it doesn’t have to take a huge budget.
Or any budget!
SOCIAL MEDIA GENERATES BUSINESS INTELLIGENCE
Social media, unlike broadcast and transactive media, is a two-way channel.
Listen, don’t just talk.
Don’t measure your social media marketing to improve your marketing—measure it to improve your business
decisions.
And get ready for higher-level exposure.
Integrating Data to
Understand
the Full Landscape
BUSINESS INTELLIGENCE IS
HUMAN INTELLIGENCE
Measurement tools can’t generate business intelligence, only data.
People translate data into intelligence.
Where to begin?
The social media inventory.
Defining Success – Where to Begin:
Measuring the Success of Social Media in terms of Value
• Create a list of key behaviors on your site.
• Rank them by the amount of created value they reflect.
• Group them into classes with scores.
Build a Value Index
KPI #1 - ENGAGEMENT INDEX
% Change Jan-Feb Nov-Dec LTD Avg
Total Site Engagement Index [1] 111.1% 228,460 108,221 213,095
Active Participation Index [2] 301.4% 4,179 1,041 4,518
Success Events Details [Page Views]
Rating 1083.3% 178 15 93
Login 180.8% 139 50 276
Registration 224.6% 106 33 78
Content Generation 376.2% 50 11 33
Tagging 366.7% 7 2 4
Comment Post 28.6% 5 4 5
Content Consumption Index [3] 109.3% 224,281 107,180 208,577
Success Events Details [Page Views]
UG Doc Visit - Unqualified 130.5% 16,023 6,953 16,022
UG Doc Visit - Qualified 75.6% 11,845 6,745 9,797
Download 73.4% 2,034 1,173 2,254
Tier 1 Doc Visit - Qualified [4] 115.8% 1,606 744 1,415
Tier 1 Doc Visit - Unqualified [4] 90.5% 651 342 1,433
Forum Thread Visit 61.8% 89 55 98
Social Bookmark -46.0% 14 25 30
Email Signup -60.0% 1 3 5
RSS Signup 100.0% 1 1 3
0
100,000
200,000
300,000
400,000
500,000
Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08
Sit
e E
ngagem
ent
Index
Active Participation Content Consumption
How to Monetize Corporate Social Media Behavior
In order to monetize site behaviors we must understand the impact to the business.
How do you translate visitor behaviors into financial benefits for the company?
ANALYZING THE VALUE OF ENGAGEMENT ON A COMMUNITY SITE
Methodologies for Success
Methodologies for Success
“MONETIZING” BRAND VALUE: A “TOKEN” EXAMPLE
But monetization doesn’t tell the whole story.
What is the ROI of a blog post that saves your business?
START WITH THE BASICS
Summary
• Focus your measurement on quality.
• Create meaningful experiences. Add value.
• Build a picture of your social media ecosystem
• Build the right reporting systems
• Operationalize your business intelligence
• Cultivate your human intelligence
Discussion
Jason Burby
Chief Analytics and Optimization Officer, ZAAZ
Ryan Turner
Social Media Lead, ZAAZ