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Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008 1 Monitoring and Measuring Conversations Sean Moffitt, President & Chief Evangelist– Agent Wildfire Inc. [email protected]

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Monitoring and Measuring Social Media Conversations by Sean Moffitt, Agent Wildfire

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Page 1: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008 1

Monitoring and Measuring Conversations

Sean Moffitt, President & Chief Evangelist– Agent Wildfire Inc.

[email protected]

Page 2: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

Blonde Guys Trying to Make the World a Better Place….

Page 3: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

Communication Collaboration

Page 4: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

WhySocialMedia?

Page 5: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

4 Camps of Social Media Benefits

People Produce Content

About You

People Engage/

Rally Behind

You

People Collaborate

With You

People Advocate

You

Page 6: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

Page 7: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

*I think a pillow should be the symbol of peace, not the dove. The pillow has more feathers than the dove, and it doesn't have that dangerous beak.

Page 8: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

“There is only one thing in the

world worse than being

talked about, and that is not being talked

about.”

Was Oscar Wilde a good social media practitioner?:

Page 9: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

If one ad impression is worth $0.01-0.10

…what’s the value of a social media conversation?

Page 10: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

If a newspaper publishes their print content in a blog format but turns commenting off…

..do we account for it as social media…and is it just as important as the hobbyist blogger post?

Page 11: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

Page 12: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

Would you rather have your social media be engaging…

….or Influential?

Page 13: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

What’s happening more quickly…

Is social media becomingmore traditional…

..or is traditional media becoming more social?

Page 14: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

Would you like 1% of your social media audience very involved..

…or 10% of your audience somewhat involved?

Page 15: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

If we hold sales people accountable for sales and operations people accountable for operations…

…what do we hold social media people accountable for?

Page 16: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008 16

The 10 somewhat immutable laws of social media measurement…

10

SOCIAL MEDIA MEASUREMENT

Page 17: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

“It’s an imperfect science, but that’s OK…”

Law #1 -

- it’s new- it resists neatly packaging- it’s multi-media- it has many stakeholders- it has many benefits- it keeps changing

- Blogs (2005)- YouTube (2006)- Facebook (2007)- Twitter/FriendFeed (2008)- ???? (2009)

Page 18: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

…because its ½ of what your next student/employee/customer does…

51%

35%

27%

23%

34%

49%

65%

73%

77%

66%

Millenials (13-24)

Generation X (25-41)

Baby Boomers (42-60)

Matures (61-75)

All Respondents

User Generated Media Company Generated Media

Source: Harrison Group 2007

Page 19: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008 19

…because it’s the new currency on how to build brands

“Something you Buy” “Something you Trust” “Something you Want”

“Something you Prefer” “Something you Love”“Something you Participate In”

Page 20: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

1960/70s 2008 Ads Exposed to Daily 700 3,000-5,000

Per Capita Spending on Ads $110 $865*

Ave No. of TV Channel/Household

5.7 116 No. of Products - Grocery Store

7,000 45,000+No. of Books Available

20,000 4 mil.+

Day-After-Recall on TV Ads 36% 3%

Trust Ranking of Advertisers n/a 20nd out of 21

•US numbers, Inflation adjusted number for 2007 $465, •4x as much as 1972

…and because It’s a Panacea for What Ails Marketing/Media/Communications

Page 21: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

“Social media value is trapped in the Long Tail of its metrics”

Law #2 -

Social Media Metrics

Metrics

Why Social Media benefitsare trapped in the tail…

Page 22: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

What we measure :

- Traffic (75%)- Member engagement (74%)- Unique visitors (72%) - Member registrations (70%)

- Product feedback/ideation (40%) - WOM Influence (31%)- Comments per post (25%)- Cost savings (16%)- Tech. support (11%)- Insights, content, employees, competitive intelligence

The activity(clickstream)

The benefits

Source: Online Community Research Network

Page 23: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

“It’s an intimacy medium – Participation of a few > Eyeballs of many”

Law #3 -

“The Ones Who Create

Ideas”

“The Ones Who Spot & Scout New

Stuff”

“The Ones Who Sell and

Lead Opinions”

“The Ones Who

ProvideCredibility”

“The Ones Who

AttractAttention”

“The Ones Who Connect & Spread the

Word”

Page 24: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

Harnessing the Influencer Grapevine

Turning small groups of Enthusiasts,

Users, Customers andConsumers

Into Authors, Producers, Scouts, Testers and

Collaborators & Broadcasters

Into Community Members, Advocates, Ambassadors

and Evangelists

Thinktank/Sounding

Board

Scout/MysteryShopper

AdvisoryCouncil/Cause

Torchbearer

SeededAdopter/

Beta Tester

Customer

User

Consumer

Collaborator/Producer

Evangelist/Ambassador/

Advocate

CommunityMember/

VIP Insider

Influencer

Page 25: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

“The measurement lense depends on your perspective…

Law #4 -

A hustler (media/ads)

A fisher (e-commerce)

A surveyor (researcher/ innovation)

A farmer/gardener (community owner)

A sniper (PR)

Page 26: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

The Influencers – 6 ArchetypesA Fisher (E-commerce) “What’s my catch like?”- Visitors, conversions, sales

A Hustler (Ads/Media) “How many people paid attention?”

- Traffic, page views*, time spent

A Sniper (PR) “Who is my most important target?”- Authority ranking, influence, velocity,

comments/post

A Farmer/Gardener (Community Owners) – “What am I growing/is this being cared for?”- Engagement, interaction, sentiment

A Surveyor (Research/Innovation) – “What have we learned?”

- Insight, quality of content, relevance

Page 27: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

Social media outcomes trump traditional media inputs…

Law #5 -

Traditional media measurement deals with what you aired…

…social media measurement deals with what actually happened

Vs.

Page 28: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

Those who “measure” social media are those who “manage” social media

Law #6 -

- CEO Key Metric- 49% - bottom line profits

- CEO Key Critical Drivers (rank)1st - Business Strategy2nd - Customer Service3rd - Customer Experience4th - Sales Force5th - Marketing Strategy6th - Product development7th - Pricing8th - Distribution

Conversely12th - Advertising13th - Promotions

Source: Microsoft Executive Circle

Page 29: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

1 +1 = 3 – Social Media Measurement is multi-variate

Law #7 -

Page 30: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008 30

Excitement

Intimacy

BroaderAudience

Targeted

UGC/CGM

BUZZ

VIRAL

SOCIAL

CAUSE

COMMUNITY

INFLUENCER

EXPERIENTIAL

AFFILIATE

Page 31: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

What is your Social Media Shooting for?

Reach – how far does it travel?

Relevance – does it support your intended direction?

Influence – who shares and passes along with who?

Authority – how trusted is the source?

Engagement – how involved do they get?

Page 32: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

What is Your Social Media Shooting for?

Interaction – do they do anything with it?

Velocity – how fast does it travel?

Attention – how much time do they spend with it?

Sentiment – how positive are they?

Net Promoter – are they recommending you?

Page 33: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

Ownership – where can I find the data…

Measurement is quite different based on ownership of data, is your effort:

Hosted by your school/company? – communities/corporate blogs/CGC platforms

Outreached by your school/company? – blogger relations/social network apps/groups,

widgets

Exists in the social media ether? – independent social media monitoring

Page 34: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

Monitoring Tools, tools, tools

FreebiesTechnorati (authority, links)Del.icio.us (quality/type)Google Analytics (traffic)Feedburner (subscribers)Compete/Alexa (relative traffic)Appsholic (social media) Video/photo (YouTube, flickr)Social bookmarks (Digg/Stumble

Upon) Forums (Boardtracker/Twing)Communities, widgets

The Paid Methods:Radian6BuzzlogicNielsen Buzzmetrics

Page 35: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

There are 27 Flavors of Conversation

Law #8 -

Page 36: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

The 27 Types of Social Media Conversation

Acknowledge receiptAdvertise somethingAnswer questionAsk a questionAugment a postCall for actionDisclose personal infoDistribute mediaExpress agreement

Express criticismExpress surpriseRally supportGive a heads upRespond to criticismGive a shout outMake a jokeMake a suggestionMake an observation

Offer a greetingOffer an opinionPut out a wanted adRallying supportRecruit peopleShow dismaySolicit commentsSolicit helpStart a poll

Source: KD Paine & Partners

Page 37: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

There are no “silver bullet” standards

Law #9 -

Page 38: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

You Need to Roll your Own

Social Media Value

(vs. objective)

=Benefits – Risks----------------------

Cost

Page 39: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

One of my favourite “roll your own” examples….

Page 40: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

The Gladwell – The New Social Media Measurement Incorporates the benefits:

• Engagement• Influence/Advocacy • Polarity (Positivity)• Depth of Interaction• Action (Conversions/Sales)• Search results• PR Value• Content• Insight• Support• Credibility/Authority• Community/Lifetime Value

/Loyalty

Page 41: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

Faith goes a long way…

Law #10 -

Page 42: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008 42

What progressive companies are currently practicing?

Currently Use Plan To PilotBlogs 49% 31%RSS 47% 32%Social Networking 40% 31% Customer Service 40% 26%Podcasts 33% 41%CGC 27% 35%Wikis 21% 29%Co-creation 13% 24%Open-Source 12% 20%Virtual Worlds 9% 23%

Source: Society for New Communications Research, 2007

Page 43: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

Major Media/Marketing Implications – The Future is Social

Word of Mouth Marketing +30%

Social Network Ads+51%

Social Media Ads +71%

2008-2011 Projections (CAGR)

Source: VSS

Page 44: Monitoring Measuring Social Media

44

Take Back to the Class

Join the conversation:- Facebook, LinkedIn, Twitter- Find top 50 blogs of interest- Start commenting

Start a new conversation:- Build a blog – post 27 types of

conversation- Outreach to other bloggers- Produce a Social Media Release- Network out to video/photo sites - Social bookmark content

Define what they should measure:- Establish metrics- Roll their own measurement- Track progress over time- Measure vs. objective

Analyze results:- Prove the value of the effort- Identify improvement

Page 45: Monitoring Measuring Social Media

45

Never Forget - Humans are Social Animals

Page 46: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008

Page 47: Monitoring Measuring Social Media

Agent Wildfire – Canada’s Word of Mouth Expert - Proprietary and Confidential 2008