Metrics Madness: Social & Digital Media Measurement & ROI

Quote source: Content Marketing Institute: Field Guide to the Four Types of Content Marketing Metrics

Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Agenda
Not everything that can be counted
counts, and not everything that counts can be
counted.
- attributed to Albert Einstein
1. Metrics Matter for Business Success
2. Goals Come First
3. Now Set Key Performance Indicators (KPIs)
4. Then Choose Online Marketing Tools
5. Ta-da! Show The ROI (Return on Investment)

Is Social Media ROI a
Fraud?
More trackable
than traditional
advertising ROI
But still not
easy or 100%
certain
Photo credit: PhotoAtelier, on Flickr

It Ain’t Easy!
"Half the money I spend on
advertising is wasted; the trouble is
I don't know which half."
John Wanamaker
Must measure multiple touch points
From a multitude of data sources
Which activity (activities) should get
the "conversion credit“?

Omnichannel Challenges
But it must be
done.
More being
accessed 1st or
only on mobile.
http://www.emarketer.com/Article/Mobile-Search-Reshapes-Path-Purchase/1010749#CL0W5dY6Om4dPCJi.99
“Matching up mobile, tablet and desktop activity so
that advertisers can establish best practices remains a
work in progress.”

Metrics Matter – Why?
 To deal with complexity
 Learn about your audience
 Where are they?
 How do they behave?
 What is measured happens
 Helps with SEO & other
ongoing markeing
improvements
Photo by Bill Brooks, Flickr

Goals Come First

Takes a Team Effort
Good goals have input from:
CEO
Marketing
Sales
Customer Service
Operations
Finance
IT

What are your Business
Goals?
Brand Awareness
Customer Understanding
Raving fans
Leads
Customer service costs
Customer service response (time &
quality)
Customer satisfaction & retention
Increase sales/profits/donations

What does ROI mean to
you?
What are you hoping to achieve?
What are the cost savings & revenue
increases digital media might
achieve?
Could we achieve these goals without
online media? How? What would that
cost?

Who’s Your Customer?
Photo credits: Man- Flickr – Tim Rodenberg; woman – Flickr – Sam Churchill; Family - TFrank

Think about:
1. Acquisition
 From where?
 Earned, Owned, & Paid considered?
 Priorities for each element? Spending?
2. Behavior
 Steps in ideal buyer’s journey – micro-goals, influencers
 Process to buy
 Can we simplify?
3. Outcomes
 What outcomes = value delivered to the business bottom-line?
A download? A phone call to your call center? A qualified online lead?
Signing up for email promotions? People buying your product / services ?
A 95% task completion rate? A 10 point lift in brand perception?
Source: http://www.kaushik.net/avinash/digital-marketing-and-measurement-model/

Set Key Performance
Indicators
What KPIs will measure progress
towards the goals you have set?
Is it realistic to think you can collect
the data?
Who needs to be involved? Get their
input before buying tools!

Categories of Metrics
Consumption
Sharing & Engagement
Lead Generation
Sales
Profitability Social
Media
Offline
Our site

Consumption metrics
What are visitors
consuming? (pages, videos,
podcasts, documents,
downloads, page views)
What are they reading
about us from other
sources?
What are they searching?
How do these
relate to
sales?

Sharing & Engagement
Metrics
Likes, shares, tweets, +1s, pins
Sentiment analysis (still no great tools
for this)
Forwarding from e-mail
Inbound links (can get free from
ScreamingFrog, Google Webmaster
Tools, http://www.opensiteexplorer.org/ and other SEO
tools)
http://www.slideshare.net/fullscreen/CMI/a-field-guide-to-the-four-types-of-content-marketing-metrics/2

More Social Media Metrics
Social Media Conversion rate
 # of audience comments/post
Amplification rate
 # retweets/post or shares/post
Applause rate
 likes, faves, +1s
Share of voice
 what % of mentions are yours
http://www.convinceandconvert.com/social-media-measurement/6-critically-undervalued-social-media-success-metrics/ GroupM study

Lead Generation Metrics
Form completions
Downloads
Email subscriptions, opens & clicks
Blog subscriptions & comments
Conversion rates of people who did the
above vs those who didn’t
 increasing over time?
Bounce rates
http://www.slideshare.net/fullscreen/CMI/a-field-guide-to-the-four-types-of-content-marketing-metrics/2

Sales Metrics
Conversion rates
Impact on offline sales
Customer retention
Order frequency
Average order size/price

Profitability Metrics
Cost/lead
Revenue/lead
Customer service costs (declining?)
# of sales per sales rep
Returns rate
Online ad campaign profitability

You Thought That Was Tough…
Now for the How

Process
Now you have decided what to
measure, so how will you do it?
Determine IT and systems needs
Create implementation plan
Train & implement
Maintain, measure & refine

Costs
Time (especially for social media!)
Tools
Learning curve/training
Social media advertising (increasingly
important)

Tools
Tools for:
Data
Gathering
& Posting
Data
Analysis
Testing &
Refinement Lots of overlap
Photo by Tony Hall, Flickr

The Basics
What do you really need?
What budget range?
Timing
Extensibility
IT participation needed?
Likelihood of vendor survival

Multi-Channel Challenges
55% of online retail activity
occurring through mobile devices(comScore)
 How track behavior across multiple channels?
Many mobile devices and apps don’t even
support cookies
Facebook: 48% of Daily Active
Users and 49% of Ad Revenue
Come from Mobile
(http://socialmediatoday.com/socialbarrel/1883521/facebook-says-48-percent-daily-active-users-
and-49-percent-ad-revenue-come-mobi)

Think Multi-platform
Google now has
cross-device analytics
 Must have the User-ID
feature implemented
Only catches users
who are signed in to
Google
That may be
representative
enough of your
target markethttp://online-behavior.com/analytics/cross-device

Types of attribution
Last click
First click
Even
Store (physical world) vs digital world
– who gets credit? How to share it?

Data Gathering & Posting Tools
Photo by Alan, Flickr

Data Gathering Tools
Google Analytics
Google Webmaster Tools (especially for
keywords, now that no longer in basic Analytics)
Competitive Research Tools
Social Sign-in
Lots of Social Listening Tools

What’s the Competition
Doing?
Find out what they are doing on:
Their own site
Social media of all types (including
YouTube)
Advertising

Competitor research tools
Free at basic level:
Quantcast.com
Alexa.com
Compete.com
Google Trends
(See also “social listening tools”)

Social Listening Tools
HootSuite – great for posting too
Tweetreach – reach, impressions, activities
Social Mention - Strength, Passion,
Sentiment and Reach (for comp analysis too)
Addictomatic – includes Bing & more
Bottlenose.com – fun to watch
Klout – influence score
 & more…

More free tools
Facebook Insights
[don’t just “boost post”; you want your
investment going to likely prospects]
Twitter Analytics
YouTube
Pinterest
Etc. … Almost all platforms have
analytics

Handy Posting Tools
Bitly – link shortener
Buffer – for multi-platform posting
http://hashtagify.me/ – to find out
which to use

Analysis Tools
Creative Commons photo of Sigmund Freud

Enough to drive you crazy!!
Review of 50 tools at http://socialmediatoday.com/pamdyer/1458746/50-top-tools-
social-media-monitoring-analytics-and-management-2013
HubSpot – also a CRM tool
Domo.com - expensive
SproutSocial – free trial; after that,
$59/user/mo up to $1500)
Radian 6 – for big co’s (prices start at $12K/yr)
Mention.net, Sysomos, Viralheat -
For measuring social conversations
True Social Metrics (just for social media;
has free trial; will also analyze competitors)

More Tools
Simply Measured (has several free reports
to test out)
UberVu (no free trial)
SocialBakers (also has free data on top
brands & pages, by country) has a free trial of
competitive intelligence and social media
measurement – looks pretty easy to use (basic
is $120/month)
Quintly – nice layout; has free trial; good for
competitive analysis too

Tools Will Change
Remember to match what they can do with
what you need to:
Measure the KPIs you selected, in order to:
Accomplish the goals you set

Ask the Vendor
1. Difference between your tool and free tools?
2. How do you capture the data?
3. What is the Total Cost of Ownership?
4. What is in your free support? What is in paid?
5. Segmentation capabilities?
6. Export formats?
7. Data integration with other tools?
8. Two new features/tools/acquisitions on the
horizon?
9. Why did your last two clients you lost cancel?
Can we talk to them?
Source: Web Analytics 2.0 by Avinash Kaushik

Google Analytics
Google Analytics Academy has great
free videos; watch & learn
1. Install Universal Analytics
2. Set Conversion Goals
3. Set Filters
 Exclude yourselves

Setting Goals in GA
4 types of goals:
 Destination
Thank You or confirmation page
Funnel goals – where losing them?
 Duration
 Pages/Screens per visit
 Event (e.g. viewed video)
Goal $ values helpful for ROI
https://analyticsacademy.withgoogle.com/course01/unit?unit=4&lesson=4

Testing & Refinement
Photo by Sean MacEntee on Flickr

Correlation vs
Causality
What else might
explain the
changes?
How do you
separate out the
effects?
Image from
http://www.thevisualeverything.com/2011/12
/problem-online-graphs-charts-correlation-
causation/

A/B Testing & More
Test many things! (But not all at once)
Test often!
Test hypotheses
Visual Website Optimizer (free)
Google Content Experiments (free)

Return on Investment
ROI = Investment – Revenues
Investment
Investment includes:
Staff costs
Overhead that can be attributed to that
medium or effort
Outsourcing costs, e.g. design, hosting,
subscriptions, software, tools

Essential Tools
Google Analytics
Hootsuite or equivalent
Buffer or equivalent
Bit.ly or equivalent
A/B Testing tool

Future?
 Better in-store tracking & linking with online
channels
 Real-time data, sync’d across channels
 Give shoppers incentive to let you access
their data (cell phone or face triggered) as
soon as they enter your store (or are even
near it)
 E.g http://www.shopperception.com/ for in-store
shopper tracking (video)

Metrics Madness: Social & Digital Media Measurement & ROI

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