what you're missing in social media measurement, presented by nichole kelly
DESCRIPTION
In her Brands-Only Summit Pre-Conference presentation, Social Media Explorer's Nichole Kelly discusses why it's actually very easy to measure social media ROI. She shares a shortcut that will change everything and an actionable framework to get to bottom-line results quickly.TRANSCRIPT
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SOCIALMEDIA.ORG/SUMMIT2014ORLANDOOCTOBER 27–29, 2014
What you're missing in socialmedia measurement
NICHOLE KELLYSOCIAL MEDIA EXPLORER
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What You’re Missing in Social Media Measurement
Nichole Kelly, CEO, SME Digital
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What’s holding us back from measuring social media ROI?
Twitter: @Nichole_Kelly
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We’ve zoomed in too far
Twitter: @Nichole_Kelly
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We’re measuring a single channel world
Twitter: @Nichole_Kelly
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Can we fix it? Yes. There are short cuts.
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There is one key to measuring social media ROI
Twitter: @Nichole_Kelly
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Isolating social users in the database
USERS
Twitter: @Nichole_Kelly
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Conduct a data flow audit
Twitter: @Nichole_Kelly
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Link tagging is the number 1 short cut
Source = SLC + channel promoted in Medium = Content type Campaign = Content 8tle
Twitter: @Nichole_Kelly
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Additional data to consider for tagging
• Social Account Name • Line of business • Product • Organic or Paid • Size and ad type if paid • Department • Unique ID for status update
Twitter: @Nichole_Kelly
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Gap analysis • Will the current process work for real-time link
creation? • Is there a need for operationalizing link tagging? • How much content curation do you do? – Only works for links sent to company website with
primary web analytics code • How many microsites and other company
websites don’t have primary web analytics code?
Twitter: @Nichole_Kelly
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What impact will it have? It changes everything
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Organic search top converting source
. . . . . .
Engagement Consideration Acquisition
Customer Retention
Measuring the Social Media Customer Journey 51%
7.1% cheaper average cost per website visit 39%
29%
79% 92
cheaper average cost per acquisition increase in average
cost per engagement
higher average product adoption for social link clickers
% of negative reviews 8 % of positive reviews
$.15 average CPM
Q2 $.75 ACPE Higher CPE a result of increase in ad Budget for 2nd QTR Brand campaign
$11.75 In Q2 Increase in paid ad spend increased CPM, but CPSV declined
than non-social link clickers
Awareness
✔
5.1 in Q2. Up from 4.9 in Q1.
Q2 Report – June 2014
*An engaged social media user is someone who clicks on a link shared
on a social channel
Advocacy Loyalty
41% higher average 3-year customer value
$1580 in Q2 High negative reviews in York, PA – Escalated to reg. manager
cheaper average cost per thousand impressions (CPM) than paid search only
than non-social link clickers
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Control Group Analysis – 1st party link clickers Social’s Influence on Consideration
Visit 171% more o?en than the average site visitor with 259% more page views
They spend 323% more 8me on site and bounce 72% less o?en
They are far more likely to visit the site mul8ple 8mes. On average they have a 950% li? in mul8ple visits over the average site visitor.
They consume our content and do it o?en with a 2672% increase in 51 to 200+ visits
Twitter: @Nichole_Kelly
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Control Group Analysis – 3rd party link clickers Social’s Influence on Consideration
They visit our site a?er consuming curated content. Visit 188% more o?en than the average site visitor with 302% more page views.
They spend 474% more 8me on site and bounce 71% less o?en
They are far more likely to visit the site mul8ple 8mes. On average they have a 1351% li? in mul8ple visits over the average site visitor.
They consume our content with wild voracity with a 4915% increase in 51 to 200+ visits
Twitter: @Nichole_Kelly
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Control Group Analysis – Social’s Influence on Consideration
Twitter: @Nichole_Kelly
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Control Group Analysis – Influence on Consideration
Twitter: @Nichole_Kelly
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Not everything that can be counted counts, and not
everything that counts can be counted.
-Albert Einstein
Email: [email protected] Book: How to Measure Social Media
Questions?
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Learn more about past andupcoming events
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SOCIALMEDIA.ORG/SUMMIT2014ORLANDOOCTOBER 27–29, 2014