the 8 types of social media goals and how to measure them
TRANSCRIPT
The 8 Common Types of Social Media Goals &
How to Measure Them
Presented by:Taylor Pratt | @RavenPrattRaven Internet Marketing
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The key to social media success is understanding your audience.
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Nielsen’s State of the Media:The Social Media Reporthttp://raven.im/nielsensm
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Nearly 4 in 5 active Internet users visit social networks and blogs.
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70% of active online adult social networkers shop online, 12% more likely than the average adult user
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Socially engaged consumers spend 20 to 40% more than other customers
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53% of active social networkers follow a brand
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How do consumers access SM?
• 97% - Computer• 37% - Mobile Phone• 3% - Gaming Console• 3% - iPad• 2% - Internet-Enabled TV• 2% - E-Reader• 1% - Handheld Music Player
Are you ready?
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Are you ready?
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What is the ROI of social media?
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According to Oliver Blanchard, you’re asking the wrong question.
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What is the ROI of [insert activity here] in social media?
Oliver BlanchardThe BrandBuilder BlogAuthor of Social Media ROI
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Brand awarenessGoals
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Brand Awareness
Brand Recognition
Brand Recognition
Share ofVoice
Share ofVoice
ReachReachEngagementEngagement
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What’s your value add?
Wal-Mart:Low PricesWal-Mart:Low Prices
Southwest Airlines:Freedom
Southwest Airlines:Freedom
Harley Davidson:Rebellion
Harley Davidson:Rebellion
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The key to measuring brand recognition: word trends
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To measure Share of Voice compare brand mentions to competitors.
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Source: Web Analytics Demystified & Altimeter Grouphttp://bit.ly/pratt1
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To measure Engagement, measure participation.
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Source: Web Analytics Demystified & Altimeter Grouphttp://bit.ly/pratt1
Engagement
Engagement
= Engagement[Social Network] Interactions
Total Views
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To measure Reach, compare audience participation to your audience reach.
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Source: Web Analytics Demystified & Altimeter Grouphttp://bit.ly/pratt1
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Customer orientedgoals
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Customer Oriented Goals
CustomerSupport
CustomerSupport
Brand Sentiment
Brand Sentiment
BrandAdvocates
BrandAdvocates
ProductDevelopment
ProductDevelopment
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Measuring Customer Support
Reduction in
Support Costs
Reduction in On-
Site Support
Increase Resolutio
nRate
Improved Customer Satisfacti
on
Increase Resolutio
nRate
Leads Generate
d by Support
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Measuring Brand Sentiment
Sentiment by volume of posts and impressionsSentiment by volume of posts and impressions
Number of positive reviews generatedNumber of positive reviews generated
Number of mentions of your brand’s value addNumber of mentions of your brand’s value add
Average resolution time to reputation crisesAverage resolution time to reputation crises
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Don’t overlook social media as a product innovation hub.
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Monitor both your brand and your competitor brand and keyword mentions for customer pains.
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Monitor both your brand and your competitor brand and keyword mentions for customer pains.
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Measuring Product Innovation
Number of new product ideas
Number of new product ideas
Number of new product ideas
built
Number of new product ideas
built
R&D time savedR&D time savedTraditional
research cost savings
Traditional research cost
savings
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Measuring the success of your brand advocates fulfills two goals:
1.Provides an understanding of the ROI you receive2.Provides you with data to better incentivize advocates
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It is okay to reward advocates for their hard work. Wouldn’t you want to be rewarded?
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Save time and money by properly evaluating potential advocates.
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Create a Scorecard
AdvocateShare of
VoiceReach Topics
Customer Overlap
Peter Parker
5% 50,000Arachnoids, Red Heads,
GoblinsMedium
Hulk Hogan 2% 25,000Tank Tops,
Weight Lifting
High
Eric Cartman
12% 120,000Cheesy Poofs,
Racial SlursLow
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Reach out to advocates and find out how you can help them.
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If you remember one thing from this presentation…
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The key to successful social media measurement is asking questions.
Thank You!
Taylor Pratt | @RavenPrattRaven Internet Marketing
Toolsslideshare.net/raventools