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Tracking Business Value and Measurement of Brand Communities THE 2017 COMMUNITY VALUE AND METRICS REPORT Tracking Business Value and Measurement of Brand Communities

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Page 1: The 2017 Community Value and Metrics Report

Tracking Business Value and Measurement of Brand Communities

THE 2017 COMMUNITY VALUE

AND METRICS REPORT Tracking Business Value and Measurement of Brand Communities

Page 2: The 2017 Community Value and Metrics Report

About the Speakers

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Jane Doe @twitterhandle

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John Doe @twitterhandle

Page 3: The 2017 Community Value and Metrics Report

DEFINING COMMUNITY

Page 4: The 2017 Community Value and Metrics Report

4

Tracking Business Value and Measurement of Brand Communities

How do you define a brand community in your organization? (select all that apply) (% of respondents)

Has measurable goals

and objectives

56%

Is a line of business or a strategic initiative for the organization

54%

Has members who develop relationships with each other online

or offline

66%

Other6%

I don’t know how to define my brand

community

14%

Has a dedicated community manager

59%

Has an executive sponsor

21%

Page 5: The 2017 Community Value and Metrics Report

Tracking Business Value and Measurement of Brand Communities

THE SPACE MODEL: The 5 Dimensions of Community Strategy

Page 6: The 2017 Community Value and Metrics Report

6

Tracking Business Value and Measurement of Brand Communities

Community’s Business Value

1%

4%4%

18%

13%13%

23%26%

What is the single most important value that your community drives for your organization?(% of respondents)

Customer Support or Customer

Success

Product Ideation, Innovation and

Feedback

Acquisition and Advocacy

Content andProgramming

ExternalEngagement

InternalEngagement

Other I am not sure what business value our community drives

Page 7: The 2017 Community Value and Metrics Report

7

Tracking Business Value and Measurement of Brand Communities

Changing Priorities Has the above always been the most important value that community drives for your organization, or has it changed over time?(Number of respondents)

65%This has always been

the most important value

35%Our most important value

has changed

Page 8: The 2017 Community Value and Metrics Report

8

Tracking Business Value and Measurement of Brand Communities

Changing Priorities % that switched to this business value

(% of respondents)

% who have always had this business value(% of respondents)

Customer Support or Customer Success

85%15%

Product Ideation, Innovation & Feedback

53%47%

Acquisition & Advocacy

60%40%

Content & Programming

76%24%

External Engagement

72%28%

Internal Engagement

82%18%

Page 9: The 2017 Community Value and Metrics Report

MEASURING VALUE

Page 10: The 2017 Community Value and Metrics Report

10

Tracking Business Value and Measurement of Brand Communities

The Most Popular Metrics

31%

What metrics do you measure to demonstrate your community’s business value?(Only those options available to all participants)(% of respondents)

Retention

New customers

Customer satisfaction ratings

Customer loyalty

NPS score

Customer lifetime value

Change in sales revenue

Cost savings

54%

37%

37%

28%

24%

24%

14%

Page 11: The 2017 Community Value and Metrics Report

11

Tracking Business Value and Measurement of Brand Communities

The Most Popular Metrics

8%

Among the metrics you measure to show your effect on business value, what is the most important one?(Only those options available to all participants)(% of respondents)

Retention

Change in sales revenue

Customer lifetime value

Customer loyalty

Customer satisfaction ratings

New customers

NPS score

Cost savings

14%

13%

8%

7%

6%

6%

3%

Page 12: The 2017 Community Value and Metrics Report

12

Tracking Business Value and Measurement of Brand Communities

Most Popular Metrics by Community's Business Value

Value Most Popular Metric

Customer Support or Customer Success # or % of answered questions (65%)

Product Ideation, Innovation and Feedback Product Ideas (60%)

Acquisition and Advocacy New user/member sign-ups (62%)

Content and Programming Number of active users/members (74%)

External Engagement Retention (20%)

Internal Engagement Retention (25%)

Page 13: The 2017 Community Value and Metrics Report

13

Tracking Business Value and Measurement of Brand Communities

How Long It Takes to Decide on Metrics

Less than1 month

1-2 months 3-4 months 5-6 months More than 6 months

I don’t know

12%15% 14%

6%

21%

How long did it take you to decide that these were the correct metrics to measure?(% of respondents)

32%

Page 14: The 2017 Community Value and Metrics Report

14

Tracking Business Value and Measurement of Brand Communities

Plan vs. Reality

24%

14%

12%

29%

50%

55%

55%

60%

28%

59%

24%

31%

37%

37%

28%

54%

% of respondents who measure the metric vs plan on measuring the metric(% of respondents)

Change in sales revenue

Cost savings

Customer lifetime value

Customer loyalty

% of respondents who measure the metric % of respondents who plan on measuring the metric

Customer satisfaction ratings

New customers

NPS score

Retention

Page 15: The 2017 Community Value and Metrics Report

15

Tracking Business Value and Measurement of Brand Communities

Measurement Success

2.44%

2.00%

2.83%

2.42%

2.59%

2.71%

2.50% 2.50%

2.71%

3.00%(Weighted Confidence vs. Revenue)

$0 - $250k

$250k - $500k

$500k - $1m$1m - $10m

$10m - $50m

$50m - $100m

$100m - $500m

$500m - $2b$2b - $10b

Over $10b

On a scale from 1 to 4, how confident are you that you have the right metrics in place todetermine the business value of your community?

Page 16: The 2017 Community Value and Metrics Report

INTERNAL EFFECT

Page 17: The 2017 Community Value and Metrics Report

17

Tracking Business Value and Measurement of Brand Communities

Running Reports

3% 1%5%

11%

21%18%

42%

How important is it to have the ability to quickly run reports?(% of respondents)

1 2 3 4 5 6 7

Page 18: The 2017 Community Value and Metrics Report

18

Tracking Business Value and Measurement of Brand Communities

The Role of the Community Manager Is your community staffed with a dedicated Community Manager?(Number of respondents)

71%Yes

29%No

Page 19: The 2017 Community Value and Metrics Report

19

Tracking Business Value and Measurement of Brand Communities

The Role of the Community Manager

22%

38%

69%

71%

69%

79%

80%

91%

94%

67%

Is your community staffed with a dedicated Community Manager?(Responses from particpants who have a community manager)(% of respondents)

$0 - $250k

$250k - $500k

$500k - $1m

$1m - $10m

$10m - $50m

$50m - $100m

$100m - $500m

$500m - $2b

$2b - $10b

Over $10b

Page 20: The 2017 Community Value and Metrics Report

20

Tracking Business Value and Measurement of Brand Communities

Organizational impact How have these metrics affected your organization internally?Please rate the degree to which you've seen these effects (if at all).(% of respondents)

Increased headcount onthe CM team

Increasedleadership support

Increased budget

Spread of community into other departments

Increased interest in community from

other departments

Yes No

7%93%

18%82%

27%73%

10%90%

41%59%

Page 21: The 2017 Community Value and Metrics Report

CONCLUSION What’s Next?