dos and dont’s of social analytics
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DOs and DON’Ts of Social Analytics
Christophe Lauer – Valtech Corp. twitter: @clauer
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What we can do for you.!
Enterprise Technology!
We turn the CIO into a strategic business
leader.
Marketing Technology!
We enable the CMO to develop ROI driven digital
marketing.
Agile Transformation!
We empower people and organizations to
be reactive to change.
Customer Experience!
We help marketers develop customer-
centric digital strategies.
We are Valtech. We create value through technology. !
Ò IT Consulting Ò Enterprise 2.0 Ò Cloud Ò Architecture &
urbanization Ò Software factory Ò Java & .net Ò Microsoft Ò SAP Ò IBM Ò Global Sourcing
Ò E-commerce Ò Mobile & Tablets Ò CMS Ò Analytics Ò E-reputation Ò Social media Ò Websites
Ò Application development
Ò Agile transformation
Ò Agile coaching Ò Agile testing
Ò Ideation & creative services
Ò Rapid prototyping Ò Digital strategy Ò Digital Branding Ò Campaigns Ò Business modeling Ò UX services
DOs and DON’Ts of Social Analytics
Defining the scope of the conference!
Social Monitoring
Social Media Strategy
E-reputation
Social Analytics
Social Media MarketingWhere are we now?!
Social Media MarketingWhere are we now?!
“ Half the money I spend on advertising is wasted ; the trouble is I don't know which half.
-- John Wanamaker
Social Analytics Why measure?!
For internal use
For clients (if agency)
To Pilot and Optimize
“ Measure how?!
78% of European marketers unhappy with social media measurement More here: http://econsultancy.com/uk/blog/8122-78-of-european-marketers-unhappy-with-social-media-measurement
“Measure what?!
Not everything that counts can be measured. Not everything that can be measured counts. ’’ -- Albert Einstein
The question of ROI What we can hear about it…!
Our opinion is that it can be tracked, but it’s not always the most adapted metric to track
« The ROI is simple: you’re out of business in
5 years if you don’t ! »
« What is the ROI of your mother? »
« RONI: Return On Non Investment »
« COI: Cost Of Inaction »
« It’s just not
measurable anyway »
Measuring ROI?!
ROI = (Gain from campaign – Cost of Campaign)
Cost of Campaign
How to get a better ROI ?!
To get a good ROI, you need a big « R » ... or a small « i »
R
I
“
Acquisi.on Costs, Expenses
Revenue, Mone.sa.on
The big picture!
Listening!
Discover! Measurement!
Planning!
Execution!
Measurement!
Optimization!
DOʼs and DONʼTs!
You’re welcome to tweet this.
It should fit in less than 140c J
#1!
There is no magic list of metrics
• Sorry to deceive you...
• You will have to define the metrics that make sense in your context, on your market, and given the objectives and your business goals that are yours
• Though, you’re not left alone: there are some good documents, studies and frameworks out there for you to start with. You can find more than a good inspiration in these. – Do not miss this document from IAB and TMW: http://www.slideshare.net/Ifonlyblog/iab-measurement-framework-for-social-media-final4-3
There is no magic list of metrics!
#2!
Social Analytics is more than just ROI
• If you’re into acquisition, the number of new contacts and the cost of acquisition may be good KPIs for you
• If you’re focusing on brand awareness, you’ll probably want to track your brand’s Share of Voice
• If you’re working on Customer Care, you may want to measure the customer satisfaction, the tickets resolution ratio and resolution speed
• And so on... But the ROI is not the end all be all
Social Analytics is more than just ROI!
#3!
Activity ≠ Productivity
Your metrics must pass the « so what? » test
• Altimer Group insists on:
« Give preference to result-oriented—rather than activity-oriented—metrics. One of the biggest pitfalls of social media measurement is the tendency to report activity-based metrics without demonstrating the corresponding result. This means looking at an increase in fans, followers, or page views as an end in itself, rather than as a step toward a specific goal. Use The Social Media Measurement Compass to put activity-based metrics in context: Did the additional followers also correlate with additional conversions? Did you see a Y% increase in conversions for every X% increase in followers? » (abstract)
• More here: www.slideshare.net/setlinger/altimeter-social-analytics081011final
Activity ≠ Productivity!
#4!
You need a Benchmark
• South Korea – Total area: 100,210 km2 – Pop. density: 488 per km2 – HDI: 0.897 – GDP/capita: $31,753
• You need a reference: – Market studies and market data – Time reference (YoY, years N-1, N-2, …) – Geographic, per countries – From your competition – A/B testing – etc.
You need a benchmark!
?!?!?!?!
?!?!
#5!
Tools aren’t « automatic »
You need to inject intelligence
• You need to connect to your data sources
• You need to clean and normalize your data
• Know what you want to observe
• You need to inject intelligence into the tools if you want to get intelligence from the tools in return...
Tools arenʼt automatic!
#6!
All languages are not built-in equal
• Check that the tools you plan to use do support the various languages present in your different markets
– English is generally OK... – What about Spanish? – What about French? – What about German? – What about Italian? – etc.
All languages are not supported equally!
#7!
Context is key
« Just read the book! »
Depending on the context, the exact same comment can have very different meanings
• On Amazon.com: « just read the book » means that you should read this book. == Positive advice
• On Netflix: « just read the book » means that the film is bad and that you should rather read the original book == Negative advice
Context is key!
#8!
You need to have a holistic approach
By now you should now that there’s no such thing as a « social media strategy »: there is a marketing strategy, and it may contain some layers of social media to some degree So, how are you realistically going to measure your actions and investiments in digital marketing and social media, with tools that do focus on just a small part of the scope and do not give you a view on the whole campaigns?
You need to have a holistic approach!
#9!
There are some good frameworks out there
• Good news: You’re not left alone, and you don’t have to reinvent the wheel
• There are some good « frameworks » out there to start with. They provide more than just a source of inspiration:
– IAB/TMW http://www.slideshare.net/Ifonlyblog/iab-measurement-framework-for-social-media-final4-3 – Altimeter Group http://www.slideshare.net/setlinger/altimeter-social-analytics081011final
There are some good frameworks out there!
#10!
Be clear of the confidence in your data sets
• Be aware that you work on partial and limited data sets
• Typically: – Search results from twitter, since you do not have access to
the full « firehose » – Public data and updates from Facebook – Limited history
• Where possible, also communicate on the confidence
in your data source along with your results and dashboards
• Corollary: You cannot do generalization and assumptions of your case to your market or your industry
Be clear of the confidence in your data sets!
#11!
Metrics should be « transparent »
• Because of the Google Pagerank and Facebook Edgerank, we are used to work on opaque metrics with secret calculation formulas in our industries. But this is a bad habit and we should try to do what is possible to avoid reproducing it.
• Unfortunatelly, there is not standard definition for « engagement », and no standard calculation formula for it either. Same story as before: the GRP in TV is different from the GRP for display.
• Some people and organizations – like IAB – try to come up with standard definition proposals.
• Until then, make your best to use transparent metrics, and whenever possible do communicate on your methods and share your calculation formulas.
• Corollary: Do not give too much importance to « black box » metrics that are calculated from formulas, like for instance the Klout score.
Metrics should be transparent!
#12!
You cannot measure in case of a paradigm change
• For instance: when you open a new sales channel • Or when you make your first steps into Branded
Content • Recent exemple: the Facebook timeline for Brands
– Your brand pages changes from being a destination to a stream (=your history, your legacy)
• Though, you should measure and store data to built
an history (see point #4 : You need a Benchmark)
You cannot measure in case of a paradigm change!
#13!
Measuring without taking action is useless
• You are not measuring just for producing reports that stay on the corner of your desk
• If you measure, it is for taking actions.
– If not, don’t measure!
Measuring without taking action is useless!
#14!
Measuring and optimizing have a cost
• Measuring has a cost: tools, software licences, integration, data storage, computing, your time and the salaries of the teams, ... Measuring and optimizing have a cost
• In some cases, these costs may be superior to
the value that you can get from optimizing, and as a result this activity doesn’t pay off.
• On the other hand: some topics are « a tax » and you just have to do it, even if rentability isn’t there
Measuring and optimizing have a cost!
...
Social Analytics ismore than just counting fans!
HAVE QUESTIONS?!
THANK YOU!!… now it’s time for a break