Digital summit social media measurement

Editor's Notes

• #4: Only 22% of 700 survey respondents have a strategy that ties data collection and analysis back to business objectives. (Econsultancy Online Measurement & Strategy Report for 2012 , Page 16 of free sample report (www.econsultancy.com) http://econsultancy.com/us/reports/online-measurement-and-strategy-report#content.) Only 28% of 1500 survey respondents struggle to tie analytics back to their campaign strategy, and only 30% are reporting regularly to management. (Alterian Annual Survey: How Engaged is One’s Brand?, Page 19, 2011. http://www.alterian.com/resources/research/Alterian-Annual-Survey-Results). Fifty-seven percent of 622 marketers surveyed by cited “poorly defined success metrics and key performance indicators” as among the top three major obstacles to social media marketing adoption. (2012 B2B Social Media Marketing: A Surge in Adoption; http://www.btobonline.com/section/researchreports11)
• #5: Factor in budgetCompare to competitorsBuild a dialogue with audience: “we heard you” – engagement process
• #6: The Barcelona Declaration of Measurement Principles – This declaration of standards and practices to guide the measurement and evaluation of public relations was first adopted at the 2nd European Summit on Measurement in Barcelona, Spain, in June 2010. Leaders of the charge were AMEC, the Institute for Public Relations (IPR) (www.instituteforpr.org), PRSA (www.prsa.org), ICCO (http://www.iccopr.com) and the Global Alliance (http://www.globalalliancepr.org), and David Rockland, Ph.D., Partner/Managing Director at Ketchum (www.ketchum.com). Seven Principles were adopted focusing primarily on the setting of measurable goals and objectives, and the importance of measuring against business outcomes. Valid Metrics Framework for Public Relations Measurement– a Post-Barcelona Task Force actualized the principles through a Framework providing eight different matrices. Each matrix provides metrics suggestions for assessing the three phases of PR - PR Activity, Intermediary Effects and Target Audience Effects -- through the Communications Funnel, from Awareness through Action. The matrices address different kinds of PR programs including product/brand, reputation, crisis, non-profit, issues, education and more. The Task Force was led by Ruth Pestana, former Worldwide Director of Strategic Services of Hill and Knowlton, and Tim Marklein, Practice Leader, Technology & Analytics at W2O Group (www.w2ogroup.com).  Coalition for Public Relations Research Standards – A further outgrowth of the Barcelona Principles, and through AMEC, Global Alliance, PRSA, IPR and the Council of Public Relations Firms (www.prfirms.org), the Coalition has created an interactive site where opinions can come together in the creation and adoption of standards for research and measurement. This group, and site, seeks to set standards in three areas: the Communications Lifecycle, Traditional Media Measurement and Social Media Measurement. The public is welcome to comment on the site on proposed standards as they emerge. (http://www.instituteforpr.org/researchstandards) The #SMM Standards Conclave - Formed in 2011 the Conclave is the social media working group of the Coalition, and has brought together a wide variety of associations and corporations to establish social media measurement standards in six key areas: Content Sourcing and Methods; Reach and Impressions; Engagement; Influence and Relevancy; Opinion and Advocacy; and Impact and Value. (http://www.smmstandards.org). Each suggested standard is ‘open for comments’ on the site, with ratification to follow. As of this writing, the first key standards area has been set through the ratification of the Transparency Table (http://www.smmstandards.com/category/content-sourcing-methods), which provides for the consistent reporting of Content Sourcing & Methods. Just some of the players include the IPR, AMEC, PRSA, the Council of PR Firms (www.prfirms.org) and Katie Delahaye Paine (www.kdpaine.com). The #SMMStandards Conclave was formed in 2011 to bring together various associations and perspectives working on social media measurement standards. The organizations include the Institute for Public Relations (IPR), International Association for Measurement and Evaluation of Communications (AMEC), Council of PR Firms (CPRF), Digital Analytics Association (DAA), Public Relations Society of America (PRSA), Word of Mouth Marketing Association (WOMMA), International Association of Business Communicators (IABC), Chartered Institute of PR (CIPR), Federation Internationale des Bureauxd’Extraits de Presse (FIBEP), Global Alliance for Public Relations and Communications Management, Society for New Communications Research (SNCR) and the Media Ratings Council. Client participants include research and communication leaders from Dell, Ford Motor Company, General Motors, McDonald’s, Procter & Gamble, SAS, Southwest Airlines and Thomson Reuters, as well as many major communications agencies. So far, the conclave has defined engagement (with you) and conversations (about you) and have come up with a transparent measurement methods transparency form. 
• #8: Set measureable objectives for social media channels and audiencesDetermine which metrics make the most sense for your programChoose tools you will use to measureImplement the programAnalyze and present the resultsMake adjustments and start over
• #9: It starts with SMART Objectiveshttp://overtonecomm.blogspot.com/2010/10/commonsense-social-media-measurement.htmlIn order to get results from your marketing and public relations programs, you have to have a clear vision of what you want to achieve. We call these SMART Objectives. They are:Specific: not vagueMeasurable: have numbers attached to themAttainable: Are not too easy, or too hard to achieveResults-Oriented: they are tied to business goalsTime Bound: They have a time frame by which they can be accomplishedAnother way to think of this, is by asking yourself:How many/much of X results to I hope to achieve by X date? How many, by when?Let’s look at an example of a SMART Objective…
• #10: Specific – 100 peopleMeasureable – influencer codeAttainable – Registration numbers. This is something that must be adjusted with resultsResults Oriented – 15% ahead of usual registrationsTime Bound – two month prior to event
• #11: If you are having trouble getting at the heart of the objectives ask yourself the Five Why’sDoes anyone here have an objective for their social media program they could share. OR, Say that my objective for my blog is to build thought leadership in the areas of measurement, crisis management, CSR and social media for large nonprofit institutions.
• #17: Do track your activities and benchmark them against results but don’t stop there…Agencies tend to focus on this a lot so they can show the client that they are doing the work they were hired to do, but they should not be lumped into results measurement
• #19: Use Google spreadsheets to work with clients on this editorial calendar to make this more of a living document.Other things you can measure include:Content creation (the number of assets created, videos/podcasts)Social media engagement (numbers of blog posts, blogger events, blogger briefings, Twitter posts, community site posts and events)Influencer and stakeholder engagement (what activities were undertaken to drive engagement forward, such as the number of Facebook and Twitter posts, community site posts, etc.)Events/speeches, offline community events and traditional media outreach
• #20: They say that any publicity is good publicity, but as we all know in this 24/7 news-hungry world not ALLattention is good attention. The easiest thing to measure in social media is attention. You can see how many visits your page has, how many were unique and how many were repeat or new visitors. You can also easily see who referred them to your site, and perhaps even find some of your fans. Attention looks at volume and number of friends.
• #24: This just means that people are starting to become aware that you exist in social channels. It doesn’t mean they will take any action beyond this, or that there will be any appreciable business results. This is the most common place where measurement stops, because up to this point it has been pretty easy to get the numbers.
• #25: The Michigan Economic Development Corporation (MEDC) – a public corporation created through an agreement between state and local governments – assists and helps grow thousands of Michigan businesses each year.Facebook fans had a high likelihood of traveling in Michigan. Even out-of-state fans had a higher likelihood to travel to Michigan after engaging with Pure Michigan’s social media. The tool tracks where visits come from on the site.Custom questions showed that the website and word of mouth were main drivers of visits to the social media presence. In addition, they found out that 71% of survey respondents were made more aware of places and activities in Michigan through the Facebook page.
• #28: http://www.instituteforpr.org/topics/measuring-relationshipsThere is a way to test your relationships through a survey that was developed by By Linda Childers Hon and James E. Grunig. The survey measures in five areas to test perceptions: Trust, Satisfaction Commitment, Exchange Relationship Communal Relationship Look also at customer satisfaction surveys and peg to their involvement with social media sources, Loyalty over time, visitors that come back more than once, and Repeat visitors.You can also measure to sentiment to get a crude idea of where you stand with the community over time, mostly positive, mostly negative and mostly neutral. However, sentiment doesn’t give a full view.
• #32: Finally, the golden ring and the thing that fuels ROI are actions. In the end, how people feel about your brand, and how many people come to see your online properties and interact with you, are only important insofar as they predict how many people will DO something about it.We went over the idea of setting SMART objectives. There are very advanced analytics that can show you how many people came to the site and bought and from where. We also had the case study earlier to show ROI for ticket sales. All of these are great ways to measure.We can’t go in depth in how to measure everything, but you will go a long way to identifying HOW if you have taken the time to set up the WHAT, or your SMART Objectives.Four to Six visitor questions for analyzing a website: http://www.4qsurvey.com (Avinash Kaushik)1. Based on today’s visit, how would you rate your site experience overall?2. Which of the following best describes the primary purpose of your visit?3. Were you able to complete the purpose of your visit today?4a. (If yes) What do you value most about the [sitename] website?4b. (If no) Please tell us why you were not able to fully complete the purpose of your visit today? 3 optional questions can be included: Visit Frequency, Path to Site and an email solicitation questionSeth Godin: http://sethgodin.typepad.com/seths_blog/2011/11/six-questions-for-analyzing-a-website.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+typepad%2Fsethsmainblog+%28Seth%27s+Blog%29What's the revenue per visit? (RPM). For every thousand visitors, how much money does the site make (in ads or sales)?What's the cost of getting a visit? Does the site use PR or online ads or affiliate deals to get traffic? If so, what's the yield?Is there a viral co-efficient? Existing visitors can lead to new visitors as a result of word of mouth or the network effect. How many new visitors does each existing user bring in? (Hint: it's less than 1. If it were more than 1, then every person on the planet would be a user soon.) This number rarely stays steady. For example, at the beginning, Twitter's co-efficient was tiny. Then it scaled to be one of the largest ever (Oprah!) and now has started to come back down to Earth.What's the cost of a visitor? Does the site need to add customer service or servers or other expenses as it scales?Are there members/users? There's a big difference between drive-by visits and registered users. Do these members pay a fee, show up more often, have something to lose by switching?What's the permission base and how is it changing? The only asset that can be reliably built and measured online is still permission. Attention is scarce, and permission is the privilege to deliver anticipated, personal and relevant messages to people who want to get them. Permission is easy to measure and hard to grow.
• #33: SAP Community Networkhttp://wiki.sdn.sap.com/wiki/display/KPI/Business+KPIsKPIs represent the most important drivers of value creation for your business
• #34: A measure of a company’s profitability, equal to a fiscal year’s income divided by equity and long-term debt; and, ROI measures how effectively the organization is using its resources to generate a financial profit.
• #35: I could also look to measure Revenue Event. Perhaps there are a number of participants that you need to attend your conference to make it profitable. Let’s say in this case, that number would be 400 paying participants at the early bird rate. Let’s say that historically, at three months before the conference, you usually have 200 people registered, 300 at two months out and 400 in the month leading up to the conference. Perhaps you give a special discount code to the online influencers you have invited to your conference that they can give to their followers.“By two months prior to the event, over 100 people will have registered using the ‘friends of online influencer code and we will be 15 percent ahead of usual registration numbers.” Let’s say that tickets for the conference through the online influencer code is $150, if you multiply by 100 tickets, this is $15,000. To truly calculate ROI, you need to then subtract the cost for getting those ticket sales. So let’s say you spent $1,000 in staff time and outreach to get those influencers involved, so you net $14,000.
• #36: Add the cost of the event, this is still not bottom line. You could compare the cost to acquire each participant.
• #37: 42 RULES FOR B2B SOCIAL MEDIA MARKETINGBy Michael Procopio,Peter Spielvogel,Natascha ThomsonRule 29: Track ROI SelectivelyI don’t believe you can measure the ROI of every action in social media. You can measure specific actions. If you initiate almost any social media project, your manager will probably ask you: “What’s the ROI (Return on Investment)?” Common responses in social media circles include: “What is the ROI of the telephone or email?”“If we take ROI to mean Return on Influence…” “ROI is easy, of course you can show it.”First, ROI is a financial measure typically expressed as a percentage. Example: I bought 10 apples for $10 and I sold them for $50. ($50*10 apples)-($10*10)=$400. $400/($10*10 apples) = 4. To get to a percentage = 4*100 = 400% ROI.For many social media initiatives, both the return and costs are fuzzy. This makes things difficult from a tracking standpoint. I don’t believe you can measure the ROI of every action in social media. But you can measure certain specific actions. I * once measured a 2500% ROI for a lead generation activity with social media. The campaign team was promoting a webinar. Forty-eight hours before the webinar they asked the product manager to:Write a blog post about the webinarPut a short post on LinkedIn with a link to the blog postTweet the link to the blog postThe return was 100 “leads”, that is, 100 people signed up for the webinar. Assume a digital lead costs an average of $40, which would make the return $4,000. In this case, the product manager’s burdened cost was $150 for the one hour he spent on the project.When I told co-workers the results, they immediately challenged them:You didn’t take into account that he’s been building up his blog following over three yearsYou didn’t calculate this out for a full yearYou didn’t include all the costs of maintaining the blog Writing a blog post is part of his jobThis is why I only track ROI selectively. Like many other things, the full picture may take more time to calculate than it is worth. But if you bound the problem, it becomes manageable.The key to obtaining a credible ROI is determining the source of online clicks. For the above example we used a web tracking tool that let us create the links we used in the blog. Then all other activities pointed to the blog. Hence, we could easily report on how many readers clicked the link in the blog to register for the webinar. And how many completed the registration form. To know which channels are working best for you, create a separate tracking link for each social channel. If you don’t have a web reporting tool already set up on your web site, you can approximate by using a URL shortening service such as http://bit.ly which will provide statistics on clicks per individual URL. Unfortunately, it only tracks that a person got to a specific page, not whether they completed the form on it. But, you might be able to track this separately.You also need to design work flow into your campaign to help you track the results as people move through the sales process. One presentation I saw showed how a video was constructed with the goal of getting the viewer to request a demo. The link from the video went to a specific landing page where the viewer could request an in person demo. By tracking those leads through the sales process, the team showed an $8M dollar pipeline increase; they will eventually be able to show the revenue once the sales close. * Michael
• #39: AvinashKaushnik
• #40: http://success.adobe.com/en/na/programs/digital-index/1205_18011_social_media.htmlAdobe Digital Index interviewed social media analytics experts and analyzed 1.7billion visits to the websites of more than 225 U.S. companies in the media, retail, and travel industries.First-click attribution more accurately captures the impact of social media, increasing its value by up to94 percent.Analyzed using Adobe’s Omniture Site CatalystAdobe Digital Index Report, “Why marketers aren’t giving social the credit it deserves”http://success.adobe.com/en/na/programs/digital-index/1205_18011_social_media.html
• #41: Image From:http://www.blogstorm.co.uk/keyword-funnel-tracking-google-analytics/Patrick Altoft is Director of Search at Branded3, a Leeds SEO & Digital Agency specialising in SEO, Web Design,Development & Social Media.
• #42: Consider how AnasYounes, a doctor at MD Anderson Cancer Center in Houston, Texas, harnessed the power of his fans. Younes specializes in lymphoma and needed more patients to enroll in his clinical trials. For 18 months, he used Twitter and Facebook to share important information about cancer studies and trials, focusing on lymphoma. He amassed a modest but respectable community of 617 (913 now) followers on his Facebook fan page and 1,511 (3,000 now) on Twitter — not bad for a busy doctor, but probably not successful from purely a popularity standpoint.The key was that his fans were highly motivated by his topic. If someone has lymphoma, Younes is a “go-to” guy. He has built strong thought leadership on Facebook, Twitter and through MD Anderson’s Cancerwise blog, and he curates the topic well. As a result, Younes has had a lot of people e-mail him with questions about the disease. More importantly, they are signing up for and referring friends to his clinical trial program. According to Younes, he has quadrupled the number of patients in his clinical trials using social media channels. For a busy doctor who relies on robust participation to further his career, this metric is much more important than the number of Facebook fans he has. Younes has the right fans, who are taking action to benefit his bottom line as a research doctor at a prestigious hospital.Time Flies: Looking Back at a Year of Using Social Media, Dr. http://www2.mdanderson.org/cancerwise/2010/08/looking-back-at-a-year-of-using-social-media.html Cancerwise Blog, MD Anderson, http://www2.mdanderson.org/cancerwise/ 
• #43: http://www2.mdanderson.org/cancerwise/2010/08/looking-back-at-a-year-of-using-social-media.html
• #44: Channel Success
• #45: http://linkhumans.com/blog/how-a-company-used-linkedin-and-social-media-to-recruitby Laurent BrouatCH2M HILL is a global leader in full-service engineering, construction, and operations. With 25K employeesEnglewood, Colo.Results1) 98% of hires in the US are directly sourced2) 95% of all hires outside of the US are also the result of direct recruitment activities3) they reduced significantly the cost and time to hire4) it is one of the only construction company to be among the 100 best companies to work for
• #47: http://www.hpl.hp.com/research/scl/papers/socialmedia/socialmedia.pdfPredicted vs. Box Office SalesUsing the rate of chatter from almost 3 million tweets from the popular site Twitter, we constructed a linear regression model for predicting box-office revenues of movies in advance of their release. We then showed that the results outperformed in accuracy those of the Hollywood Stock Exchange and that there is a strong correlation between the amount of attention a given topic has (in this case a forthcoming movie) and its ranking in the future.We also analyzed the sentiments present in tweets and demonstrated their efficacy at improving predictions after a movie has released. While in this study we focused on the problem of predicting box office revenues of movies for the sake of having a clear metric of comparison with other methods, this method can be extended to a large panoply of topics, ranging from the future rating of products to agenda setting and election.
• #48: Listen/Monitor:Listening is monitoring. Monitoring tools are not necessarily measurement tools. There are several types of monitoring: keyword, influence and channel specific. None of these tools are perfect and sometimes, especially in the case of keyword monitoring, you will miss things and also get inconsistent results.Engage: Engagement tools allow you to respond, react, and sometimes work with a team to have interactions. Some listening tools have this built in, many do not.Measure: Measurement tools come in many shapes and sizes. Most are platform specific, though some can measure many different platforms. Some look to measure certain aspects about all mentions (keyword searches), others are measuring a specific owned channel (your Facebook page or YouTube channel), which still others look to measure the influence of a certain group or person.Some tools can do at least aspects of all three things, some tools can do one or two. You need to look at all three areas and determine how your client will complete each step and which tools you need to get them all done.
• #50: https://www.diigo.com/user/kamichat/monitoring%20CoolTools
• #51: https://www.diigo.com/user/kamichat/SocNet%20CoolTools
• #52: https://www.diigo.com/user/kamichat/Influence%20CoolToolsScore = Interpret markers, this is a influence proxySay = Looking at topics and behaviorSee = Watching what people actually do, and how others behave in community
• #53: The ability to look at relationships by topic is coming, there are already lists that you can buy by topic through Tracckr, and Klout and others try hard through Topics.
• #54: https://www.diigo.com/user/kamichat/Unstructured%20CoolTools
• #55: https://www.diigo.com/user/kamichat/Analytics%20CoolTools
• #56: https://www.diigo.com/user/kamichat/Measurement%20Analysis