© 2012 Webtrends, All Rights Reserved. Developing a Framework for Social Measurement A Practical Approach to Quantify Social Media Investment
Jan 14, 2015
© 2012 Webtrends, All Rights Reserved.
Developing a Framework for Social Measurement
A Practical Approach to Quantify Social Media Investment
© 2012 Webtrends, All Rights Reserved. |2
Introductions
Susan Etlinger
Industry Analyst
Altimeter Group
Susan is an Industry Analyst with Altimeter Group where she focuses on social media analytics and strategy.
For the past 20 years, she has worked at the intersection of people, processes, and technology, in companies such as Charles Schwab & Co., Inc., and in the agency world, most recently at Horn Group.
Merlyn GordonSr. Product Marketing Manager Webtrends
Merlyn has spent the last decade helping leading brands succeed with digital marketing, social CRM, and multi-channel measurement solutions.
He is currently responsible for product marketing activities related to Webtrends’ digital measurement solutions, including site, mobile and social analytics.
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Agenda
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Where are we?
Measurement challenges
How companies measure
What’s next?
Opportunity for the Social Marketer
Q&A with Susan
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Three Research Themes for 2012:
Dynamic Customer Adaptive
Organization
Sentient World
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Social data is everywhere6
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Companies now average an overwhelming number of corporate-owned accounts
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“41% of more than 1,000 companies and agencies surveyed had ‘no return of investment figure
for any of the money they had spent on social channels as of October
2011.’”
eConsultancy, State of Social Report, November 2011
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“There is no single ROI for social media.”
Richard Binhammer, Dell Inc.
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Barriers to understanding revenue impact10
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“Essentially, all models are wrong, but some are useful.”
George E. P. Box
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Top-Down Approaches
Source: “The Social Media ROI Cookbook: Six Ingredients Top Brands Use to Measure the Revenue Impact of Social Media,” Altimeter Group (July 24, 2012)
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Bottom-Up Approaches
Source: “The Social Media ROI Cookbook: Six Ingredients Top Brands Use to Measure the Revenue Impact of Social Media,” Altimeter Group (July 24, 2012)
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No single approach dominates; it’s a mix14
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What determines the mix today?15
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Revenue is not the primary goal (yet)16
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A Step-By Step Process17
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Focus on business objectives. Use the process on the previous page to clarify strategy, measures of success and organizational requirements first.
Understand your data. Test-and-learn is a great way to evaluate program success.
Get your measurement organization in place now.
Give it time. Set expectations for the short term, plan for the long term.
What you can do now18
© 2012 Altimeter Group
Holistic View of Top-Down, Bottom-Up
• Ecosystem of tools: no single tool can satisfy every organizational requirement or bridge the many device gaps
• Qualitative measurement will provide context Data integration is just beginning
• CRM, BI, Market Research. The customer-of-record and the product-of-record
Customer journey becomes even more dynamic
• More devices generating data feeds and streams
• The race to solve for identity Organizational integration is beginning—slowly
• It’s not a linear path
Emerging Trends19
© 2012 Altimeter Group
“I feel like we’re all data chemists at this point, trying to put a bunch of stuff into our beakers to see if it works.”
− Ken BurbaryChief Digital Officer, Campbell Ewald
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Opportunity for the Social Marketer
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Altimeter Social Media Measurement Compass
Business Goal
Brand HealthA measure of attitudes, conversation and behavior towards a brand
Marketing OptimizationImproving the effectiveness of marketing programs
Revenue GenerationWhere and how a company generates revenue
Operational EfficiencyWhere and how a company reduces expenses
Customer ExperienceImproving the relationship with customers, and their experience with the brand
InnovationCollaborating with customers to drive future products and services
Source: A Framework for Social Analytics, Altimeter Group, August 2011
Webtrends Focus on Social Campaign Measurement
|23© 2012 Webtrends, All Rights Reserved.
The Social Marketer’s Pain Map
Image Source: http://www.flickr.com/photos/vaxzine/2642346629
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CMOs will surpass CIOs in spend on technology in the next 5-years. They must be able to justify their investments
The Social Marketer’s Pain Map
Image Source: http://www.flickr.com/photos/vaxzine/2642346629
|25© 2012 Webtrends, All Rights Reserved.
Difficulty or lack of familiarity applying traditional digital campaign measurement practices to social media campaigns
Image Source: http://www.flickr.com/photos/vaxzine/2642346629
The Social Marketer’s Pain Map
|26© 2012 Webtrends, All Rights Reserved.
Difficulty in recognizing relationships between social platforms and other digital channels such as site and mobile
Image Source: http://www.flickr.com/photos/vaxzine/2642346629
The Social Marketer’s Pain Map
|27© 2012 Webtrends, All Rights Reserved.
Inefficiencies associated with collecting & assimilating highly complex, disparate data sources
Image Source: http://www.flickr.com/photos/vaxzine/2642346629
The Social Marketer’s Pain Map
|28© 2012 Webtrends, All Rights Reserved.
Belief that if you don't own social properties, you can't measure them
Image Source: http://www.flickr.com/photos/vaxzine/2642346629
The Social Marketer’s Pain Map
|29© 2012 Webtrends, All Rights Reserved.
Challenges of scale: Data collection constraints and limited access to historic insights
Image Source: http://www.flickr.com/photos/vaxzine/2642346629
The Social Marketer’s Pain Map
|30© 2012 Webtrends, All Rights Reserved.
Webtrends Social Measurement SolutionsDemonstrate the success of social marketing investments and brand engagement strategies
The Three P’s for Success
|31© 2012 Webtrends, All Rights Reserved.
Webtrends Social Measurement SolutionsDemonstrate the success of social marketing investments and brand engagement strategies
The Three P’s for Success
Product
|32© 2012 Webtrends, All Rights Reserved.
Webtrends Social Measurement SolutionsDemonstrate the success of social marketing investments and brand engagement strategies
The Three P’s for Success
Product Practice
|33© 2012 Webtrends, All Rights Reserved.
Webtrends Social Measurement SolutionsDemonstrate the success of social marketing investments and brand engagement strategies
The Three P’s for Success
Product PartnersPractice
|34© 2012 Webtrends, All Rights Reserved.
The Webtrends Approach
Multivariate Testing
✓
✓
✓
A
B
C
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The Webtrends Approach
Links and Tagging
#
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The Webtrends Approach
Integrated
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Webtrends Unified Approach to Measurement
Multi-channel
Visitor-centric
Open
Real-time
Performance at Scale
Private & Secure
webtrends.com/products/analytics/social/
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Questions?
Q & A Session
Moderated by Merlyn Gordon
Webtrends
Susan Etlinger
susanetlinger.com
@setlinger
Merlyn Gordon
blogs.webtrends.com
@merlyngordon
© 2012 Webtrends, All Rights Reserved. |39
Please Follow Us
Related Resources –
The Social Media ROI Cookbook, by Susan Etlinger, Altimeter Grouphttp://understanding.webtrends.com/AltimeterSocialMediaROIWhitepaper
A Framework for Social Analytics, by Susan Eltinger, Altimeter Grouphttp://understanding.webtrends.com/AltimeterFrameworkForSocialAnalyticsWhitepaper
Webtrends Social Measurement Solution Briefhttp://webtrends.com/shared/solutionbrief/SolutionBrief-SocialMeasurement-Webtrends.pdf
Upcoming Webinar –
Developing a Framework for Social Measurement with guest speaker,
John Lovett of Web Analytics Demystified
November 07 – 9:00am PST http://webtrends.com/expertise/webinars/
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