Prove Your Worth: Social Media Measurement
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Social Fresh 2016. Do your social media tactics tie back to business goals? Are you able to define measurable success within your social media campaigns? Can you effectively track performance throughout your customer’s journey? In this practical session, you'll learn to answer "yes" to all of those questions. Plus we'll discuss best practices for KPIs, attribution, and tools for measurement. Learn how to develop reporting that will allow you to prove ROI and iterate effectively based on past performance.
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Prove Your Worth: Social Media Measurement
- 1. PROVE YOUR WORTH: SOCIAL MEDIA MEASUREMENT Zontee Hou for
- 2. ABOUT YOU • • Marketing director or management • Agency or consulting • B2B •
- 3. ABOUT ZONTEE • Strategist for leading consulting firm Convince & Convert, founded by Jay Baer • Digital marketing expert & founder of her own consultancy, Media Volery, in NYC • Adjunct professor of communications at the City College of New York • Advise brands from Indiana University to Allstate Insurance
- 4. MAKING THE BUSINESS CASE What tactics are worth doing? What channels are worth exploring?
- 5. DEFINE YOUR CUSTOMERS’ JOURNEY See. Think. Do. Care.
- 6. THE ACTION DEPENDS ON THE JOURNEY STAGE
- 7. SEE: BUILD AWARENESS • Changes in brand awareness/recognition • Percent of new visits/visitors to the website • Volume of social chatter and enagement/interaction • Clicks on Youtility-driven content
- 8. THINK: MAKE THEM CONSIDER • Repeat visits within a specific period • Pages viewed per visit • Behavior/flow • Click-through rates from product-specific content • Leads generated from social channels or content
- 9. DO: CONVERT THEM • Conversion rate • Abandonment rate • Accounts/logins created • Time spent on customer- specific pages • Customer loyalty/churn
- 10. CARE: ENGAGE WITH THEM • Customer loyalty • Repeat purchases • Net promoter scores/ likelihood to recommend • Participation in customer communities • Number of reviews • Volume of social chatter
- 11. YOUR TURN! • Identify one type of social content you’re creating currently for your business at each stage: See, Think, Do, Care • Define the key metric for that execution • Is there more than one audience stage that this content might impact/reach?
- 12. DEFINING SUCCESS AND MEASURING IT Know what your business needs to achieve.
- 13. SEE: HOW ARE THEY ENGAGING? • Establish benchmarks for success • Measure results for each target group • Track each individual version of your content
- 14. THINK: WHAT ARE THEY DOING? • Track behavior flow • Look at efficacy of retargeting ads • Measure behavior within automations/series
- 15. DO: WHY HAVE THEY COMMITTED? • Test and optimize shopping cart flow/conversion flow • Send follow-up surveys • Measure activity levels within the first 30, 60, 90, 180 days
- 16. CARE: WHAT DO THEY VALUE? • Survey regularly • Listen for community participation and monitor user-generated content • Benchmark tone, sentiment, and volume of social chatter
- 17. TRACKING YOUR METRICS Go beyond the basics.
- 18. MEASURING MULTIMEDIA Tracking is about thinking end-to- end. You have to build action- worthy content in the first place. • Ebooks • Slideshows • Video • Podcasts
- 19. EBOOKS & SLIDESHOWS • Interactive content • Share buttons • Click-to-tweet • Cross-promotion
- 20. VIDEOS & PODCASTS • Uniquely searchable titles • Calls-to-action (hashtags, search terms on-site) • On-screen/spoken short URLs • Special codes • Post-credit content
- 21. IN ADDITION TO NATIVE TOOLS & DASHBOARDS… Social Media Metrics Competitive Benchmarking Social Listening & Sentiment Analysis Website Tracking
- 22. TOOLS FOR EACH STAGE See Think Do Care • Conversation Score • Wolphram Alpha • Facebook Report • LikeAlyzer • Social Bakers • Sysomos • Talkwalker • Zignal Labs *free/freemium/lo w cost • Hotjar • Google Analytics • CrazyEgg • KISSmetrics • Segment • Usability Tools • Peek • Optimizely • User Testing • Survey Monkey • Google Consumer Surveys • Survey Monkey • Google Consumer Surveys • Conversation Score • Agora Pulse Facebook Barometer • Talkwalker • Brandwatch
- 23. USE ATTRIBUTION MODELING Graphic: Google Adwords
- 24. KEY TAKEAWAYS • Set content goals based on the stage of the customer journey addressed by that content • Define success so you’re measuring apples to apples • Look at the right metrics for each stage of the customer journey • Measure against your competition, listen actively, track specifically • Attribute each touchpoint in a way that acknowledges its value • Keep adjusting what you’re measuring to reflect your business goals
- 26. CONNECT WITH ME • Twitter: @zontee_hou • LinkedIn: linkedin.com/in/zonteehou • ConvinceandConvert.com • MediaVolery.com
Notes de l'éditeur
- 5 years ago: I was managing day-to-day marketing for one of America’s largest craft/hobby brands Built the social media program from the ground up Everything from podcast to blog to FB page of then 200K, now well over half million Growing direct revenues and our reputation among competitors Even so, I still got questions at every management meeting about what we were getting from all these activities. They had trouble seeing the ROI of our work—they weren’t wrong to ask How many of you find this to be a familiar story? It took us a while to figure out how to document and prove that value. But we’re now at a point where audience growth is harder and harder, and value isn’t intrinsic to growing a big audience.
- Media?
- Let’s be interactive. I encourage you to ask questions. This presentation is a framework, but we’ll learn more if we learn from each other.
- Smart measurement lets us… Learn from your audience, get to know them Know what works and what doesn’t, be able to iterate Who’s tracking… audience size? tracking Interaction and engagement? behavior flow on website? How many people stay on? How many return? How many go to which pages? Sentiment? net promoter score? NO numbers in this talk, not going to look at how tools work, want to give you a framework
- A customer-centric model for measurement leads to more accuracy and clarity for the business. Why should we do this? Every business’s customer needs multiple touch-points with the business before ZMOT. Think with Google said at least 11 in 2009; in 2016, it’s many more. We need to know that marketing touch-points are incremental. You don’t usually convert during the first touch. Avinash Kaushik: See, think, do, care
- Different CTAs for people in different parts of the journey Chase highly ranked by NetBase in terms of social media success
- See: might be exposed to Chase through TV or online ad, might hit the website when they click through a youtility-driven article shared by a friend awareness metrics
- Think: Looking at banking options—consideration
- How much is a customer worth to you? Do you know your customer lifetime value? How much more expensive is it for you to acquire a customer than keep one? (acquisition cost?) Customer lifetime value ($) = Margin ($) * (Retention Rate (%) ÷ ([1 + Discount Rate (%)] - Retention Rate (%))
- Define success more narrowly than broadly Look to create a matrix of success based on the audience, the type of content, and the stage of the customer journey Break it down by type of content, because you’re not going to want to end up only cat photos, just because those get the highest engagement—make sure your mix of content is still addressing your business goals Ask the right questions.
- Broad-based content—measure against each niche (Wolffepack: people 30+ in NY, NY) Track each individual version of each ad or post, so you can compare—reposting content? Make sure the tags are different Social posts: reach, engagement, click-throughs, shares Videos: FB allows you to see 10-second views (in addition to standard 3-second views) Slideshares: views, drive people with a CTA at the end (possibly throughout), shares Podcasts: click-throughs from other sources, downloads, drive people to the shownotes and/or use codes (bonus materials partway into the podcasts)
- You’re still going to have social posts, video content, Slideshares, etc, but this type of content won’t be broad-based, so your have to benchmark against other “think” content. Videos and social posts specifically related to your industry/vertical, products Content at this stage is for people who want to learn more. You might retarget content for people who have filled out a lead form, for instance
- Your customers are ready to convert The key here is follow-through and abandonment How can you close the deal and learn what works/doesn’t? Don’t just measure
- Look at customer reviews, social chatter—Black Milk, Modcloth Listen for brand references Look for ways to track referrals from current customers—see how you can reward them Also look at the age and interaction of accounts (e.g. email—10 year LB example)
- Last Week Tonight, @Midnight—hashtags that people really want to use
- Excel is your friend; export data out of FB, Twitter, etc. You can also track website clicks with Bitly, Buffer, Wordpress Don’t want to do it yourself? Services like Napkyn can help you out.
- https://stories.buffer.com/the-0-marketing-stack-41-free-options-to-popular-paid-services-and-tools-375ff1dbf42f#.2zvujcj5r
- Are you setting goals in Google Analytics? Which actions should be credited for the conversion of your customer? Assigning value through attribution modeling can help you to translate social touchpoints into real business value