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Social Media Measurement, ROI and Business Outcomes

Presentation on "Social Media Measurement, ROI and Business Outcomes" -- delivered by Tim Marklein, Executive VP of Measurement & Strategy for Weber Shandwick -- presented to attendees of 2nd European Summit on PR Measurement, hosted by AMEC and IPR -- June 16, 2010 in Barcelona, Spain

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Social Media Measurement, ROI and Business Outcomes

  1. 1. Social Media Measurement, ROI and Business Outcomes Tim Marklein Executive VP, Measurement & Strategy Weber Shandwick
  2. 2. Audience poll • How many of you are currently monitoring online and social media for your programs/clients?
  3. 3. Audience poll • How many of you are engaged in social media channels, including Facebook, Twitter, LinkedIn and/or others?
  4. 4. Audience poll • How many of you have clearly defined goals for your online and social media engagement?
  5. 5. Proving PR’s value: Integration is critical • Old world, meet new world – Integration of traditional, digital and social media – Integrating WOM and other new influence patterns • Silo #1, meet silo #2, silo #3, etc. – Integration of PR with other communication disciplines – Integration of PR with other marketing disciplines – Integration across business units, products, geographies • Measurement, meet strategy – Integration of metrics, data sources, tools, dashboards – Integration of data and insights into decision-making flow
  6. 6. Old world, meet new: New metrics, sources, concepts • Content measures: Assess how content is accessed, shared, adapted, amplified across various sites and media properties – Syndication measures: Assess the volume, engagement, sentiment and reach of content shared via the web. – Search measures: Assess the paid and organic search rankings for company content, brands and keyword associations – Site measures: Assess the volume, engagement, feedback and reach of content shared via company’s web properties • Conversation measures: Analyze volume, content, sentiment of conversations about company/brands across sites, media • Community measures: Assess audience, reach and “touch points” of company content/conversations across sites, media • Outcome measures: Assess how the content, conversation and community measures correlate with desired outcomes
  7. 7. Old world, meet new: Analyzing channels, audiences Source: Weber Shandwick Measurement & Strategy practice, based on data pulled from the Sysomos Social Media Monitoring tool.
  8. 8. Old world, meet new: Analyzing WOM volume and quality Low Volume / High Quality High Volume / High Quality Nationwid e Prudential Industry All State Average Quality of Advocacy (%) State Farm Metric Score Industry Share of Conversation 10% 4% Net Favorability -62% 18% Net Recommendation -24% 29% Propensity to Relay 31% 50% Source: Weber Shandwick AIG Measurement & Strategy analysis, based on Keller Fay Low Volume / Low Quality High Volume / Low Quality TalkTrackTM survey data Jan’08-Dec’08 Share of Conversation (%)
  9. 9. Old world, meet new: Advocacy takes center stage More than just word-of-mouth… 45% ADVOCATES High intensity (9%) Sharing advice Low intensity (36%) Making recommendations 20% Making their loyalty visible BADVOCATES Reaching out broadly Making fast decisions INFLUENTIALS Taking action OPINION ELITES Source: Weber Shandwick’s New Wave of Advocacy™ with KRC Research, March 2007
  10. 10. Sounds great, right? Be careful what you wish for…
  11. 11. …“badvocates” are everywhere, too… Source: Weber Shandwick’s New Wave of Advocacy™ with KRC Research, March 2007
  12. 12. Old world, meet new: Uncertainty & scale challenges • What’s more valuable? – Chicago Tribune print story – online story – Industry blog post with lots of comments – Customer recommendation via Twitter • Depends on objective, audience, message, tone, influence – Not all easily measured or compared across media channels • Key considerations – Total impressions vs. targeted impressions – efficiency matters – Earned CPM vs. Social CPM – very different scales, don’t equate – Engagement, CPE and Conversion – varies by channel, outlet – Comparative Media Cost – inconsistency of source data
  13. 13. Silo #1, meet silo #2: Cross-media effects, both ways
  14. 14. Silo #1, meet silo #2: Cross-discipline measurement Media Media Web Keyword Analysis Analysis Analytics Analysis (traditional) (social) (site) (search) WOM Brand Customer Employee Analysis Tracking Satisfaction Satisfaction (surveys) (surveys) (surveys) (surveys) Lead Gen Events & Analyst Data Ind. Awards & Sales data DM data & Reports & Scorecards (CRM) (CRM) (third party) (third party) Source: Weber Shandwick Measurement & Strategy practice – ARROW Measurement Suite, February 2009
  15. 15. Measurement, meet strategy: Re-framing the conversation activities reach relevance outcomes worth What activities Did you reach Were you What business What is the were performed your audience? relevant to your results did you estimated dollar to achieve How many audience? Were achieve? value of your results? impressions, you credible? Awareness? communication web visits, Did your ideas Engagement? efforts? What reports, and messages Reputation? was the ROI? attendees, etc. resonate? Did Leads? Sales? were you drive Loyalty? generated? conversation? Advocacy? Quantity/Output  Quality/Outtakes  Business Impact  Value/Efficiency Communications Team  Marketing Team  Executive Team Source: Weber Shandwick Measurement & Strategy practice, “ARROW” measurement model
  16. 16. Measurement, meet strategy: Sample “inline” dashboard Activities 47 Media, Blogger & Influencer Interviews 94 Facebook, YouTube, Blog & Twitter Posts Reach 170 Earned & Social Media Placements 3.9M Earned & Social Media Impressions Relevance 64% Earned & Social Message Penetration 27% Earned & Social Media Share Outcomes 14% Increase in Brand Engagement (via web data) 27% Category Sales Share (source TBD) Worth $4.72 Earned CPM (Cost Per 1K Impressions) $8.22 Social CPE (Cost Per Engagement) Source: Weber Shandwick Measurement & Strategy practice, “ARROW” measurement model
  17. 17. Measurement, meet strategy: Focus on outcomes • Define clear, precise and measurable goals in business or marketing terms – Borrow from outcomes inventory published by PRSA and IPR (left) • Don’t worry whether you can prove PR’s impact – assume you can, and then work backwards to determine how – Anecdotal evidence – Data-based evidence – Correlation – Contribution – Causation
  18. 18. Anecdotal evidence The customer said they read a magazine review, and that’s why they called us to buy the product.
  19. 19. Data-based evidence 9.7% of the customers we surveyed last quarter said they called us because they read a magazine review.
  20. 20. Correlation Every time our competitive media share goes up, our sales in that region go up for the next two months.
  21. 21. Contribution Based on our marketing mix model, we determined that PR contributed 2.7% to our sales goal last quarter.
  22. 22. Causation 720 customers that read about us online, then went to our site, bought the product at an average sales price of $675.
  23. 23. Measurement, meet strategy: Digital/social outcomes Source: Altimeter Group and Web Analytics Demystified,
  24. 24. Proving PR’s value: Advocacy drives sales Source: Weber Shandwick’s European Advocacy Study with Paul Marsden
  25. 25. Proving PR’s value: Advocacy grows business Advocates can help a company grow an average rate of their competitors Source: Bain & Company