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Social KPIs & MeasurementCONFERENCE IN A MOMENT
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UNDERSTANDINGSOCIAL KPIS & MEASUREMENT
OCTOBER 2014
In the Old Days…
Traditional marketing provided reachbut lacked any reliable means of
measurement
BUY IT NOWat WH SMITHS
DEBUT ALBUM
But of course...
If you can’t measure it
...you can’t manage it.
With DIGITAL channels, however, practically everything can be measured
Social Media Measurement – The Challenge
The VOLUME of Social traffic has continued to grow over the past decade - and on a global scale
Whilst Social activity has been long recognised as being good for increasing visibility (especially when content goes viral) the actual BUSINESS VALUE has often been less clear
Organisations are understandably now increasingly concerned about measuring the EFFECTIVENESS of their Social Media activities
There has been much debate over the past few years regarding which METRICS are actually meaningful from a business viewpoint and how they should be categorised
Drowning in Oceans of Social Data
LIKES Retweets Shares
+1s
views
followerssubscribers
amplification
applause
comments
reach
trending
Making Connections - what should we be measuring?
Certain Twitter account followings are not what they appear to be:
3 Essential Capabilities in Social
Publishing (Workflow
management)
Effectiveness: KPI
Measurement & Reporting
Listening & Monitoring
Ability to create and manage all your content (across several departments) and to publish to multiple platforms
Single view of most important numbersacross all Social Platforms
Ability to monitor conversations on own channels, and also to pin-point conversations on the wider web (Twitter, forums, blogs, etc.)by keyword
Customer Service
Brand /
Marketing
HR
CorpComms/ PR
Measuring Social Conversation
Defined KPIs need to account for conversations across multiple platforms and provide an indication of the ‘health’ of overall social activities – as well as specific campaigns
Metrics should be categorised into awareness/reach, engagement and conversion
Multiple departments will be involved in these conversations
And all KPIs do need to be understood in terms of their context (channel, season, etc.)
Keeping it Simple – Define your ultimate goal
Good social media goals should line-up with the key goals of your organization:
• Increase awareness
• Generate leads
• Convert leads to sales
• Retain existing customers
• Reduce costs
Specific KPIs
• Impressions
• Engagement: likes, comments, favs, sentiment
• Amplification: shares, RTs, rePins, etc
• Conversion
Influencer social posts
#KeyHashtag mentions
Influencers activated Event Impressions
Device Impressions
Product Name in Social Posts
Proactive Outreach
TARGET 200 250 40 4,000,0003,000,00
0(Over 2 weeks)
8-10 500
ACTUAL 301 902 29 13,636,343 TBD 15 235
KEY TAKEAWAY
Influencers were happy
to post about their new phones and cycles.
There was a great deal of interest in the bike
giveaway. Our influencers were very
chatty as well.
The rain dampened
some influencers
plans to borrow a
bike.
Our influencers were hyper-active online, posting thoughts,
images and using our hashtag liberally.
We had a great deal of content to
promote, including our
BRAND MixRadio playlists and photos of the Create Space.
While effective, the amount of
time to proactively
outreach to 500 people was
highly underestimated.
KPIs - Focused Social Measurements
Decide which metrics are actually the most important for your brand
#@ @@
ENTERPRISE LEVEL SOCIAL ANALYTICS
Social Platform Analytics
All the main platforms provide free Analytic tools:
• Facebook• LinkedIn• Twitter• YouTube• Pinterest• G+
But an enterprise also needs a way to monitor across channels.
Enterprise Dashboard: Top Level Social Media KPIs• Dashboard collates and elevates the most meaningful data available to measure the
‘health’ of Social Channels - combining data for all relevant channels• Dashboard gives consistent data presentation across geographic regions• Data is sourced from Google Analytics/Site Catalyst and Simply Measured
Graphic Summaries
Key data trends are mapped as a series of graphs
Allowing Year on Year (YOY) overlay of data
• Engagement by channel
• Visits versus Conversion rate
Simply Measured (Data Provider)
Simply Measured provides data reporting across multiple Social platforms. Their data feed is used to populate the RSA/Stream:20 Social KPI Dashboard
Cost is based on number of profiles, audience size and no. of mentions
Additionally, the Simply Measured subscription allows for more detailed reporting and graphs, useful for deeper dives by Social Managers
Onsite (Website) Analytics
Vitally, you need an accurate view of traffic coming from social sites
Which Social platforms are:
• driving traffic volume
• converting the best
Free tool
CONVERSATION MONITORING
Key tools to consider
Social Media Conversation Monitoring
• What is it? • Finding conversations that are happening that are relevant to
your brand (keyword based).
• Why do it? • Customer service• Finding brand advocates and influencers• Spotting trends • Monitoring competitor status • Crisis response
• How? • Various toolsets
Measuring Social Conversation (by Keyword)
www.socialmention.com - Similar free sites include Addict-o-matic and Twazzup
Free tool
Salesforce (Radian 6)
Similar products to Radian6 include BrandWatch, Nielsen Buzz Metrics, Meltwater, Sysomos, Alterian SM2.
Social Media – Marketing Channel Summary
SEO Key Points
Channel Share around 5-8%
Conversion Rate Generally Very Low (though there are ways...)
Positive Cost effective, brand/awareness building, viral potential
Negative Low CR - generally ineffective as a sales channel
Optimise Engage meaningfully, focus on current conversations
CPA
Display
PPC
SEO
Affiliate
Social
Affiliate
SEO
PPC
Display
Social
CR
3 Essential Capabilities in Social
Publishing (Workflow
management)
Effectiveness: KPI
Measurement & Reporting
Listening & Monitoring
Ability to create and manage all your content (across several departments) and to publish to multiple platforms
Single view of most important numbersacross all Social Platforms
Ability to monitor conversations on own channels, and also to pin-point conversations on the wider web (Twitter, forums, blogs, etc.)by keyword
KPIs within Content Development & Publishing
SocialManagement
Strategy
Co-ordinate Social Media listening and publishing activities across departments by providing a single solution: combining all key platforms, enabling rapid response to consumers using social channels.
KPI Dashboard to provide rolled-up view of Awareness, Engagement and Conversion data.Separate KPIs required for Marketing Corp Comms, Cust Servs, HR, etc
Performanc
e Targeting
& KPIs
Ability to monitor not just owned channels but conversations on the wider web (where public)
Conversatio
n
Monitoring
Channel Presence&
Purpose
Content Strategy
Workflow Integratio
n
Conversation
Monitoring
Response Criteria & Process
Engagement
Performance Targeting
& KPIs
Defined processes for those trained to engage with audiences
Online tools to manage all response activities across multiple departments.
Permission-based workflow capabilities with the ability to publish to all required social platforms
Publishing
Tools
Useful Links
Free & Cheap Monitoring Tools• Google Analytics • www.hootsuite.com • www.howsociable.com • www.icerocket.com • twittercounter.com• www.socialmention.com • www.twazzup.com• www.addictomatic.com • www.visibletechnologies.com • www.brandwatch.com• www.Klout.com
Enterprise Monitoring/Mgmt Tools• www.hootsuite.com • www.salesforce.com • www.simplymeasured.com• www.peoplebrowsr.com• www.sproutsocial.com• www.buzzbundle.co.uk• Oracle
Social Engagement & Monitoring Cloud Service
• www.viralheat.com (predictive)
Further reading:• www.mashable.com • www.socialmediaexaminer.com • www.briansolis.com • www.toprankblog.com • www.convinceandconvert.com • www.theantisocialmedia.com
APPENDIX
Further Notes on Terms
Impressions – Only Facebook can measure actual impressions; all other channels are measured in terms of potential impressions. (Being rather different figures, these numbers are *not* added together to create a single number)
Bounce Rate – the % of visits that see only one webpage then leave the site
MACRO CONVERSIONS – A measurement of behaviours that have a direct business impact, such as purchases made or leads received
MICRO CONVERSIONS – A measurement of behaviours that represent an important step towards a desired business outcome, such as page views, downloads, video views, and social media engagement (shares, likes etc.). Typically these are indicators of the user moving down the ‘funnel’ towards the macro conversions desired
• NB. It is for the business to decide what equates to a Macro or Micro conversion and separate between the two categories.
Key Social Media Metrics Used: Awareness
Awareness
Engagement
Conversion
Sen
tim
ent
1. Potential Reach / Impressions2. Share of Voice: % Brand Mentions3. % New Visitors4. No. of Mentions5. Amplification per post
Awareness KPIs
Data is sourced from Web Analytics, 3rd party listeningtool and/or Social Property.
Amplification – No. of times a post is shared (shares/RTs/RePins, etc.)
Key Social Media Metrics Used: Engagement
Awareness
Engagement
Conversion
Sen
tim
ent
1. No. of Posts2. Engagement Rate per post3. Micro Conversion rate per post4. Value per post5. No. of Visits to website per post
Engagement KPIs
Value per Post: e.g. For every 100 white papers downloaded, 11 people purchase services worth £80. This means a white paper download can be valued as [(11*80)/100] Web analytics tools that record the value of actions like this allow the value of a single post to be defined.
No. Chat Signals + No. Amplification Signals+ No. Applause SignalsEngagement Rate per Post =
No. Of Posts
• Chat signal = A comment add to an item posted• Applause signal = Facebook like, +1, Digg etc• Amplification signal – Share, retweet, repin, etc
A Micro Conversion might be a white paper download or video play
Key Social Media Metrics Used: Conversion
Awareness
Engagement
Conversion
Sen
tim
ent
1. No. of Clicks2. CTR% (click thru rate)3. CR% (conversion rate)4. No. of Conversions5. Average Macro Conversions Value
Conversions KPIs
Examples of a Macro Conversion might be a sale or a job application received
Key Social Media Metrics Used: Sentiment
NB: Sentiment is only available in English language at present.
Awareness
Engagement
Conversion
Sen
tim
ent
1. Sentiment Index2. Competitor Share of Voice (Mentions % )3. Competitor Sentiment Index
Sentiment KPIs
(Positive Conversations – Negative Conversations) Sentiment Index =
(Positive Conversations + Negative Conversations)
No. Of Brand, Product, Topic mentionsCompetitor Share of =Voice (Mentions %) No. Of Competitor Brand, Product, Topic mentions
+ No, of Brand, Product, Topic Mentions
(Comp Pos. Conversations - Comp Neg. Conversations) CompetitorSentiment Index =
(Comp Pos. Conversations + Comp Neg. Conversations)
Data is sourced from 3rd Party Listening Services