Metrics that Matter - Why PR is measuring the wrong things and what to do about it
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Richard Bagnall's Special Address to #PRAXIS 2014 conference in Agra, India. PR has for many years counted on metrics that are no longer meaningful in today's world. The industry is now focussed on measuring the wrong things. We need to focus on measuring what matters and embrace new approaches and new tools. And we need new skills too.
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Metrics that Matter - Why PR is measuring the wrong things and what to do about it
- 1. Metrics that Matter: Making Sense of Social Media Measurement Richard Bagnall, CEO PRIME Research
- 2. A lot has changed
- 3. A lot has changed @richardbagnall
- 5. …to communicate the right message to the right target audience…… …at the right time, in the right medium… …to achieve an objective e.g. sales, footfall, hits, awareness, improve reputation, knowledge, share price etc MY DEFINITION OF PR @richardbagnall
- 6. Output Out-take Outcomes Outputs, Out-takes and Outcomes @richardbagnall
- 8. Communication has changed @richardbagnall
- 9. PR has changed @richardbagnall
- 10. PAID: paid search, display ads, sponsored tweets OWNED: website, blog, Twitter, Facebook EARNED: media relations, WOM,Influenceroutreach CONTENT CHANNELS @richardbagnall
- 11. “Content Marketing is a technique of creating and distributing relevant and valuable content to attract, acquire and engage a clearly defined target audience –with the objectiveof driving profitable customer action.” The Content Marketing Institute CONTENT MARKETING DEFINITION @richardbagnall
- 12. @richardbagnall
- 13. @richardbagnall
- 14. @richardbagnall
- 15. CONSISTENCY
- 16. The Good Old Days @richardbagnall
- 17. THE NEW METRICS @richardbagnall
- 18. Britain’s No 1 most influential person? @richardbagnall
- 20. THE NEW METRICS @richardbagnall
- 22. Over 80 million votes 3.5 million ‘likes’ 60,000 Twitter followers
- 23. “Refresh Projectaccomplished everything a social media program is expected to….
- 24. “The only thing it failed to do was sell Pepsi. “It achieved all the false goals and failed to achieve the only legitimate one.”
- 25. Organisational Goals, Objectives & KPIs PR Goals, Objectives & PR KPIs @richardbagnall
- 26. Business Goals Business Objectives Social Media Goals Social Media Objectives Social Media Strategy Social Media Tactics The right tools & services @richardbagnall
- 27. @richardbagnall MEASURING WHAT MATTERS
- 28. @richardbagnall THE NEW MARKETING FUNNEL CONSUMPTION METRICS SHARING METRICS LEAD GENERATION METRICS SALES METRICS
- 29. Exposure Engagement Influence Impact Advocacy Awareness Consideration Preference Action Loyalty / Advocacy S.M.M. FRAMEWORK THINKING
- 30. AMEC SOCIAL MEDIA MEASUREMENT FRAMEWORK EXPOSURE ENGAGEMENT INFLUENCE IMPACT ADVOCACY PAID OWNED EARNED @richardbagnall
- 31. EXPOSURE ENGAGEMENT INFLUENCE IMPACT ADVOCACY PAID •Impressions •Reach •CPM •Active GRPs •TRPs •Interaction rate •Click-thrus •Time viewing •Completion Rate •Click-Thru Rate •Purchase consideration •Awareness •Purchase Intent •Likelihood to Recommend •Visit website •Attendevent •Sales •Download coupon •Leads captured •Promo redemptions •Mentions in Earned channel •Recommendations •Review •Ratings OWNED •Unique visitors •Page views •Reach •Impressions •CPM •Return visits •Interaction rate •Duration •Subscriptions •Links •Tell a friend •Change in opinion •Association with key attributes •Download paper •Download app •Sales •Requestinfo •Cost savings •Recommendations •Ratings •Reviews EARNED •Number of mentions •Number of posts •Message delivery •Hashtag usage •Contest entries/ participants •Purchase intent •Awareness •Associations with issues/topics •Visit website •Attendevent •Download coupon •Leads captured •Promo redemptions •Recommendations •Ratings •Reviews AMEC SOCIAL MEDIA MEASUREMENT FRAMEWORK @richardbagnall
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- 41. PRAXIS ‘14 Key Takeaways Measure appropriately. Big data… but the right data Measure what matters, don’t just count what’s easy to count There is no magic bullet / single number Use tailored frameworks Tie measurement to objectives Look for the insights Use metrics to help plan, inspire & inform
- 43. @richardbagnall linkedin.com/in/richardbagnall Please stay in touch…