Social2B - Execsense - Measuring Social Media Analytics
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Can an Enterprise scale it's Social Media? Is there a Best Practices for Measuring Social Media Analytics? Can Social Media be Outsourced? Social2B, Inc. has not only answered these questions but developed Methodologies behind each and is doing this in practice for large Enterprise Clients!
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Social2B - Execsense - Measuring Social Media Analytics
- 1. Best Practices for Measuring Analytics on Social Networking Sites in 2011 Ytzik Aranov, Partner & COO, Social2B, Inc. Material in this webinar is for reference purposes only. This webinar is sold with the understanding that neither any of the authors nor the publisher are engaged in rendering legal, accounting, investment, or any other professional service directly through. this webinar. Neither the publisher nor the authors assume any liability for any errors or omissions, or for how this webinar or its contents are used or interpreted, or for any consequences resulting directly or indirectly from the use of this webinar. For legal, financial, strategic or any other type of advice, please personally consult the appropriate professional
- 2. Slide 2 About the Webinar Speaker • About Ytzik Aranov, Partner & COO, Social2B, Inc. Online Marketing Media and PR Industry • Strategy / Management Consulting for A.T. Kearney & Coopers & Lybrand Management Coopers & Lybrand Consulting Metrics & Scorecard Multichannel Marketing Polytechnic University Author/Co-Creator of Analytics, Scorecard, Metrics & Delivery • Methodologies Outsourcing Globalization Social2B Value Chain Operations • Restructured the Value Chain, Operations, Supply Chain and Restructuring Enterprise Marketing Online Marketing for Fortune 100 companies Supply Chain Social Media Marketing B2C Marketing Social Media Policy UCLA Social • Serial Entrepreneur in Online, Services, Health Care, Real Risks A.T. Kearney, Inc. Entrepreneur Estate & Technology companies – 1 Company went public Online Advertising Public Company then private Director Crisis Management M&A, • Director, Corporate Finance, M&A and Investment Banking Investment Banking New York London Best Practices for Measuring Analytics on Social Networking Sites in 2011 Ytzik Aranov www.ExecSense.com © ExecSense, Inc.
- 3. Slide 3 Overview • New Rules of Engagement for Social Media Marketing • A New World Order for the Sales & Marketing Funnel • Social Media / Network Metrics are different than Traditional Marketing • Social Media, Online Brand recognition - don’t get left behind! • The C-level suite still needs to be convinced this channel works & you have the metrics to prove it!! Best Practices for Measuring Analytics on Social Networking Sites in 2011 Ytzik Aranov www.ExecSense.com © ExecSense, Inc.
- 4. Slide 4 Overview The “New Rules”. Scary, but true! Best Practices for Measuring Analytics on Social Networking Sites in 2011 Ytzik Aranov www.ExecSense.com © ExecSense, Inc.
- 5. Slide 5 Overview – New Rules of Engagement Old Marketing New Marketing One-way communication Brand is dialogue Brand penetration is holy grail Customers determine brand value Group customers by demographics Group customers by behavior Content controlled by marketers Enterprise + user-generated content Virality driven by technology Virality based on content Michelin Guide: expert reviews Amazon: user reviews Publishers control channels Publishers build relationships Top-down strategy Bottom-up strategy Information hierarchy Information on demand Emphasis on cost – CPM Invest for growth – Measurable ROI Best Practices for Measuring Analytics on Social Networking Sites in 2011 Ytzik Aranov www.ExecSense.com © ExecSense, Inc.
- 6. Slide 6 Overview, Traditional vs. Social Media Metrics Traditional measurement: Marketing Investment = $30,000 # of Leads Generated = 1000 Cost per Lead = $30 Social Media Measurement: SM resource x (Blog Comments + Conversations + LinkedIn + Twitter + Facebook) x Time = ROI Success (Brand value, prospect data, greater conversions) Best Practices for Measuring Analytics on Social Networking Sites in 2011 Ytzik Aranov www.ExecSense.com © ExecSense, Inc.
- 7. Slide 12 What you Need to Know about Social Media Metrics • Exposure Take your measurement • Engagement all the way through to the Action • Influence • Action • ROI Don Bartholomew, VP, Digital Research at Fleishman Hillard Best Practices for Measuring Analytics on Social Networking Sites in 2011 Ytzik Aranov www.ExecSense.com © ExecSense, Inc.
- 8. Slide 14 What you Need to Know about Social Media Metrics, cont. Exposure • Unique Visitors Tools • Page Views • Google Analytics • Search Engine Rankings • Butterfly Publisher • Sentiment • Raven Tools • Message Inclusion • SocialMention • Share of Online Discussion • Radian6 • Net Positive Comments Best Practices for Measuring Analytics on Social Networking Sites in 2011 Ytzik Aranov www.ExecSense.com © ExecSense, Inc.
- 9. Slide 15 What you Need to Know about Social Media Metrics, cont. Engagement • Click-thru’s Tools • Repeat Visits • Floaters on page • Time on Visit • Facebook • Subscribe to Feeds • Custom apps / widgets • Comment on posts • Twitter • Retweet / @replies • RSS • Message recall • Google Analytics • TweetDeck FriendFeed “Social media is not about technology or tools. It’s about real conversations, with real people.” • Ytzik Aranov, COO, Social2B, Inc. Best Practices for Measuring Analytics on Social Networking Sites in 2011 Ytzik Aranov www.ExecSense.com © ExecSense, Inc.
- 10. Slide 16 What you Need to Know about Social Media Metrics, cont. Influence • Change in Awareness Tools • Change in Attitude • Monitoring tools • Purchase Consideration • Comments • Association with Brand • Klout • Likelihood they will recommend to a • PostRank friend • Google Insight "To me, Influence isn't about popularity. Or even reach. It's about the trust, authority, and presence to drive relevant actions within your community that create something of substance." Amber Naslund, VP, Radian6 Best Practices for Measuring Analytics on Social Networking Sites in 2011 Ytzik Aranov www.ExecSense.com © ExecSense, Inc.
- 11. Slide 17 What you Need to Know about Social Media Metrics, cont. Action • Visit the store Tools • Attend an event • eCommerce tools • Tell a friend • Customer Service dashboard • Contact the company • Twitter • Purchase the product • Integrated CRM • Donate • Volunteer Best Practices for Measuring Analytics on Social Networking Sites in 2011 Ytzik Aranov www.ExecSense.com © ExecSense, Inc.
- 12. Slide 18 What you Need to Know about Social Media Metrics, cont. ROI • Return on Investment Tools • Return on Ignoring • CRM • Return on Influence • Enterprise platform • Social capital • Integrated financials • Brand Equity • Social Media performance tools • Market Share or “Influence over large numbers” • Loyalty • AutoShip • Relationship Management According to the CMO Club, 81% of CMO’s plan to link their annual revenue to their social media investment! Best Practices for Measuring Analytics on Social Networking Sites in 2011 Ytzik Aranov www.ExecSense.com © ExecSense, Inc.
- 13. Slide 19 The Impacts of Measuring SM efforts • Credibility with the C-level suite • Shift marketing investment to profitable segments • More predictable results & ROI • Profound insight into prospects & improved cross-sell / up-sell - Advocacy • Brand Loyalty Best Practices for Measuring Analytics on Social Networking Sites in 2011 Ytzik Aranov www.ExecSense.com © ExecSense, Inc.
- 14. Slide 23 What To Know About – Key social media Performance Indicators - KsmPI’s 1. Business 1. Business contribution contribution Organization's tactics Organization's targets 2. Marketing 2. Marketing outcomes outcomes 3. Customer satisfaction 3. Customer satisfaction 4. Customer behavior 4. Customer behavior 5. Channel promotion: 5. Channel promotion 6. Social 6. Social media Media Best Practices for Measuring Analytics on Social Networking Sites in 2011 Ytzik Aranov www.ExecSense.com © ExecSense, Inc.
- 15. Slide 33 Conclusions & Key Metrics, cont. Best Practices for Measuring Analytics on Social Networking Sites in 2011 Ytzik Aranov www.ExecSense.com © ExecSense, Inc.
- 16. Slide 35 Thank You! Best Practices for Measuring Analytics on Social Networking Sites in 2011 Ytzik Aranov www.ExecSense.com © ExecSense, Inc.