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The Social Data Disconnect - Social Monitoring Forum 2017

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December 2017 keynote at the Social Monitoring Forum in Munich. Nate Elliott, principal of Nineteen Insights, describes how we've been using social data wrong -- and the right way to get value from social insights.

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The Social Data Disconnect - Social Monitoring Forum 2017

  1. 1. The Social Data Disconnect (And How To Fix It) Nate Elliott | @nate_elliott | NineteenInsights.com Monitoring Forum 2017 | München ©2017 Nineteen Insights
  2. 2. We’ve been using social data wrong. ©2017 Nineteen Insights
  3. 3. Social data doesn’t prove business success. “Last year we had our most engagement ever, but terrible sales.” ©2017 Nineteen Insights Head of Social Sports Equipment Brand
  4. 4. But that’s how most companies use social data “Which metrics do you use most often to measure the success of social?” Source: Simply Measured, “The State of Social Marketing 2017.”©2017 Nineteen Insights
  5. 5. Social data does offer vital insights. “Social delivered its findings in less than half the time and cost of conventional research.” ©2017 Nineteen Insights IPA report on Unilever
  6. 6. But few companies understand how social drives insights ©2017 Nineteen Insights Source: Altimeter, “Beyond ROI,” Q2 2017. “I understand how social impacts our understanding of customer preferences.” 37%
  7. 7. We must fix the social data disconnect. ©2017 Nineteen Insights
  8. 8. 1. Social data doesn’t prove success. ©2017 Nineteen Insights 2. Social data does offer insights. 3. We must better educate our companies.
  9. 9. 1. Social data doesn’t prove success. ©2017 Nineteen Insights 2. Social data does offer insights. 3. We must better educate our companies.
  10. 10. Social teams know they can’t measure ©2017 Nineteen Insights Sources: Simply Measured “The State of Social Marketing 2017,” June 2017. Gartner “How To Determine Social Marketing Revenue Attribution,” January 2015. Social Media Examiner “2016 Social Media Marketing Industry Report,” May 2016. Can measure ROI Can’t measure ROI 0% 25% 50% 75% 100% 59% 59% 61% 41% 41% 39%
  11. 11. But social sites push likes and engagement ©2017 Nineteen Insights
  12. 12. So social teams keep tracking social data ©2017 Nineteen Insights
  13. 13. Not even Facebook thinks social data proves success Source: Facebook, “Engagement on Facebook: When it Matters” Industry research, however, has repeatedly shown that engagement rates do not correlate with the outcomes ultimately used to judge the success of your marketing efforts. While clicks can be strong indicators of success for online direct response campaigns, research by Nielsen shows very limited correlation between clicks and offline sales life; the same is true of clicks and standard brand metrics like awareness. Given these findings, the success of advertising campaigns should be measured through business results and not via engagements rates. The same KPIs and metrics you use in other channels, and you know drive your business, should be used to assess impact on Facebook. ...products will do so without clicking on your ads, studies show that more than 90% of offline sales come from people who don’t interact with ads during the campaign. ©2017 Nineteen Insights
  14. 14. The result: Executives don’t think social drives value 16% ©2017 Nineteen Insights “We have proven the impact of social media quantitatively” Source: The CMO Survey, “Topline Results,” August 2017. 16%
  15. 15. Social data doesn’t prove success. ©2017 Nineteen Insights
  16. 16. 1. Social data doesn’t prove success. ©2017 Nineteen Insights 2. Social data does offer insights. 3. We must better educate our companies.
  17. 17. 1. Understand your customers. ©2017 Nineteen Insights
  18. 18. 2. Build better products and services. ©2017 Nineteen Insights
  19. 19. 3. Develop great messaging, content, and creative. ©2017 Nineteen Insights
  20. 20. 4. Buy media more successfully. ©2017 Nineteen Insights
  21. 21. Social data does offer insights. ©2017 Nineteen Insights
  22. 22. 1. Social data doesn’t prove success. ©2017 Nineteen Insights 2. Social data does offer insights. 3. We must better educate our companies.
  23. 23. First: Use social data for what it’s good for. ©2017 Nineteen Insights
  24. 24. Show execs social data doesn’t prove success “Which metrics do you use most often to measure the success of social?” Source: Simply Measured, “The State of Social Marketing 2017.”©2017 Nineteen Insights
  25. 25. Branding Brand surveys measure awareness and consideration. Sales Web analytics tools measure leads, sales, and revenue. Service Service software measures resolutions and response time. Loyalty CRM platforms measure retention and repeat purchase. Today, we should measure using traditional metrics ©2017 Nineteen Insights
  26. 26. “I’d been showing them data for a year. But the anecdote struck a chord.” ©2017 Nineteen Insights Head of Social Sports Equipment Brand Use stories, not just data.
  27. 27. Show execs social data does offer insights ©2017 Nineteen Insights Source: Altimeter, “Beyond ROI,” Q2 2017. “I understand how social impacts our understanding of customer preferences.” 37%
  28. 28. “When we show vanity metrics, our leadership latches onto them.” ©2017 Nineteen Insights VP of Marketing B2B Tech Company Highlight the data that offers value.
  29. 29. Second: Find better ways to use social data. ©2017 Nineteen Insights
  30. 30. Filtered properly, social listening offers .881 correlation to brand survey data. ©2017 Nineteen Insights Converseon, 2012 Develop, and use, proxies that work.
  31. 31. We can fix the social data disconnect. ©2017 Nineteen Insights
  32. 32. Thank You Nate Elliott | @nate_elliott | NineteenInsights.com ©2017 Nineteen Insights

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