Key points in this presentation:
- Metrics
- On site
- Off site
- Software
- How best to ensure accountability in SM
- SOCIAL MEDIA RISK MANAGEMENT PRACTICES
- Goal Setting
- Takeaway Tips
2. Introduction
To show business value and return on investment (ROI) for social
media marketing campaigns, effective measurement is key. This
presentation will focus on how you can prove the merit of the time
and resources you invest in social media. It will help you convince
your TOP MENAGEMENT you’re not just wasting time playing on
Facebook.
In addition to conducting demographic research to identify which
social sites your audience is using, you should also set goals with
clearly defined levels for success. This presentation will discuss
both of those topics, as well as teach you the basics of analytics on-and
off-site.
3. The New Media Sings the Old
Media
• Social media analytics is built around many of the basic practices applied to
traditional media—who’s talking, what are they saying—now applied to the
(digital) conversations happening on the Social Web.
• ROI, KPI, and Intangible Value
When defining your metrics program, be clear about the difference in the types
of end results you are seeking. In addition to ROI—which is nearly always
measured in financial terms like increased revenue, cost savings, or cost
avoided as a result of an investment—you should also define target KPIs—
numerical “key performance indicators” like conversions or new registrations
—as well as intangible values associated with simply having a presence in
specific social channels.
4. Key points in this presentation?
Metrics
On site
Off site
Software
How best to ensure accountability in SM
SOCIAL MEDIA RISK MANAGEMENT
PRACTICES
Goal Setting
Takeaway Tips
5. Metrics
• Metric - standard element of measurement.
I think about metrics for social media marketing in two categories: on-site and off-site.
On-site metrics measure activity that takes place directly on your site, whereas off-site
metrics measure activity that happens on other sites where you and your
customers interact.
6. On-Site
This section will
explore some of the
basic on-site metrics
you can use to
measure your social
media efforts.
ROI
• The most important thing you can measure as a marketer is your return on
investment, or how much money your efforts are contributing to your business!
• All decent analytics packages allow you to track certain actions on your site, whether
they are purchases or the completion of lead forms. By labeling visitors who’ve
reached these goals, you’ll be able to trace them back to their referrers, the sites that
sent those visitors to you, and evaluate the effectiveness of each source.
• Most software lets you configure their tracking mechanisms to include the actual price
of a sale or this value per lead, so you can assign a monetary figure to each source of
social media traffic.
• Some analytics systems allow integration with your sales systems to implement a
concept called closed loop marketing. This means you can attribute closed business
to specific leads, traffic sources, and campaigns!
(SEE the example)
7. Google Analytics’ engagement metrics indicate how
engaged people are when they come to your site.
To calculate the actual ROI from your
efforts, simply deduct the cost of your
social media work (include monetary
and time investments) from the income
generated. If the result is a positive
number, your investment has been
profitable!
8. On - site
Engagement
- The two easiest engagement metrics are: time on-site and page views per visit.
The longer a visitor spends on your site, or the more pages she reads, the deeper the
relationship you’re building with her.
- Bounce rates - identify which pages or sources of traffic are totally not working for you
Eyeballs
- Old-school marketers often come to the Web and start looking around for simple
“eyeball” numbers.
- Typical measure: Hits, visits, and unique visitors.
9. Off-Site
So many of your social media marketing activities
occur in places other than your site, you
should also be measuring a class of metrics that
can be found off-site.
• List of what you can measure:
*Fans *Followers *Friends *Likes
*Comments *Shares *Downloads *Ratings
*Interactions *Growth rate of fans,
followers, and friends *Subscriptions
*Interactions
*Awareness *Retweets *Repins *Mention
*Reach
11. Business and SM Analytics
• The business
application of social
media is—or should be
—driven by its
connection to business.
• The links between social
media and web analytics
aimed at finding the
relationships (correlation)
that drive results and then
extracting the key
practices (causation) that
you can replicate to grow
your business.
This Figure shows the relationship between social and
web analytics, and the starting point of your
business analytics, shown here with their related
commerce pipeline metrics!
15. Facebook Insights
Your most succeful post express through REACH and
ENGAGMENT!
How many people SAW the post and how many people CLICK on
it! You can MEASURE and Guide yourself for what your
fans/community want to see on your fan page!
16. Facebook Insights
Here you can see your fans structure express in the
following metrics:
- Age group
- Country
- City
-Language
20. What is hootsuite?
• Hootsuite is a social media management system for businesses and organizations to
collaboratively execute campaigns across multiple social networks from one secure,
web based dashboard.
• Launch marketing campaigns, identify and grow audience and distribute targeted
messages using Hootsuite’s unique social media dashboard. Streamline team
workflow with scheduling and assignment tools and reach audiences with geo-targeting
functionality. Invite multiple collaborators to manage social profiles securely,
plus provide custom reports using the comprehensive social analytics tools for
measurement.
• Key social network integrations include Facebook, Twitter, LinkedIn and Google+
Pages, plus a suite of social content apps for YouTube, Instagram, Tumblr and more.
21. Let’s go INSIGHT!
It’s simple DASHBOARD!
When you will click on
ADD A STREAM, you will
see another column
(depends on your choice).
You can monitor your
followers, mentions,
retweets, Favorites, Likes,
Comments….
AND EVERYTHING
FROM ONE PLACE!
22. Let’s go INSIGHT!
This is the best Social Media Metrics software for measure your success and
ROI! User Friendly, Specific, Precise…
23. Analytics!
From your
left side, you
will find
ANALYTICS,
after that
click on
CREATE
ONE NOW!
24. Analytics!
Here you can select
your TEMPLATE for:
- Twitter Report
- Facebook Report
- LinkedIn Report
- Google Analytics
25. Analytics!
Step 1: Insert your company logo
Step 2: Type your user name
Step 3: Customize the report
Step 4: Choose period of observation
Step 5: Insert your email
Step 6: Create the report
27. HubSpot –Another Metrics
Software!
• HubSpot is an inbound marketing software platform that
helps companies attract visitors, convert leads, and
close customers.
• The ultimate resource for free marketing tools, ebooks,
webinars, templates, and marketing statistics.
28. How best to ensure
accountability in SM
• Check off the social media tools you use:
• __ text messaging
• __ comment-enabled blog or website
• ✓ micro-blog service (e.g. Twitter, Tumblr)
• __ instant messaging or online chat service
• __ online discussion forum
• ✓ social networks (e.g. Facebook, Google+)
• __ video or photo sharing service (e.g. YouTube, Flickr)
29. SOCIAL MEDIA RISK
MANAGEMENT PRACTICES
• Assign accountability for oversight of social media activities, clearly
documenting employee roles and responsibilities.
• Define and align social media objectives with enterprise wide
strategy.
• Establish clear, enterprise wide policies and procedures that
effectively implement the institution’s strategic goals and establish
clear parameters for acceptable use, including employee use of
social media in and outside of the workplace.
• Inventory social media activities across the enterprise.
• Consult with legal counsel and compliance personnel to inventory
and assess the applicability of state, federal, and local laws and
regulations.
30. SOCIAL MEDIA RISK
MANAGEMENT PRACTICES
• Periodically assess the risks of social media activities across the
enterprise.
• Identify and administer customized training to personnel with
operational responsibilities for, and compliance oversight of, social
media activities.
• Monitor and report to senior management and the board of directors'
social media activities, related risks, and qualitative and quantitative
metrics.
• Provide oversight of third-party vendors employed for social media
activities.
31. Compliance with Laws and
Regulations
• Discuss with legal and compliance personnel how legal
and regulatory requirements are assessed for
applicability to social media activities
• Assess the completeness of the institution's inventory of
laws and regulations applicable to social media activities.
• Evaluate how legal and compliance are involved in the
use of new social media technologies that may impact
compliance with legal and regulatory requirements.
32. Reputational Risk
Management
• Evaluate whether management distinguishes consumer
complaints received through social media platforms from
social media incidents.
• Determine if management has identified complaint and
incident scenarios that require escalation to legal,
compliance, senior management, or other parties.
• Assess how social media exchanges are monitored for
integrity and fairness to consumers.
33. Operational Risk Management
• Determine if technological tools have been used to monitor and
restrict social media usage, and consider opportunities to automate
new and existing preventative and detective controls.
• Evaluate how the institution provides and rescinds access to social
media platforms, including standards for reviewing and approving
access as appropriate.
• Discuss with management the types of training provided to
employees with access to the institution's social media platforms.
• Determine if third-party social media tools and software solutions
are evaluated for operational and compliance impacts in accordance
with the institution's documented vendor management program, if
applicable.
34. Goal Setting!
• Before you start a new marketing initiative, you should set goals for your
work:
• What you will measure
• How you will measure
• Which tools you re going to use
• Time period
• Relevant metrics
35. Takeaway Tips!
• Measure ROI as best you can; actual sales amounts or
closed leads are best.
• Focus on engagement metrics over pure eyeball
metrics.
• Don’t forget to measure your performance on external
social sites.
• Set achievable goals, and know how you’re going to
measure your progress.
• Select an easy-to-use web analytics package.