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C-Suite Insights 4Social Media ROI,[object Object],Marshall Sponder,[object Object],Socialize 2011 NYC – April 1, 2011,[object Object],SocialMediaAnalyticsBook.com,[object Object]
Situation Today:  Businesses are capturing a fraction of the data needed to measure SM-ROI.The missing information is “ultraviolet” but can be captured using more deliberate analytics tracking mechanisms ,[object Object],For more information goto : http://tinyurl.com/ROIsocial,[object Object]
1) Social Media is about beginning and deepening relationships over time.,[object Object],Friends, Likes, Shares, Tweets, ReTweets are qualitative ; value is “soft” and can be estimated, but not known precisely. ,[object Object],??,[object Object],3) Formulas for ROI are immature and need further research by standards organizations such as the IAB, WAA and CIPR SMM group.,[object Object],2) “soft” values are difficult to  plug into return on investment equations such as Altimeter Group proposed last year.,[object Object]
Reporting often focuses on “diagnostic” information  instead of the insight derived from it,[object Object],..and much of the data is “ultraviolet” or unusable,[object Object]
9 Areas of Concern for C-Suite with SM-ROI,[object Object],Confusion on what measure, how to price  social media efforts ,[object Object],Difficulty distinguishing signal from noise, hype from reality; finding the right platform(s) (medium) to collect and analyze messages (social media, search, web analytics, internal house data, etc, etc).  ,[object Object],Sheer volume of data to be analyzed and understood doubling every few months,[object Object],No Standards yet (IAB, WAA, CIPR, etc, etc) – still the Wild, Wild West,[object Object],Vendors and Agencies obscuring the message in order to keep business; difficult to compare and evaluate platforms,[object Object],Finding, retaining the right people and empowering them,[object Object],Realistic Timelines and Budgets,[object Object],Immature formulas for measuring SM-ROI – ROI needs to be redefined for Social media,[object Object],Data Integrity – not enough attention paid to the accuracy of the information culled from Social Media Listening Systems.,[object Object]
5 C-Suite insights about the Data,[object Object],Distilling signal from noise in social media (and anything else) is expensive, highly manual and usually customized for each business case, department, industry, etc.,[object Object],The sheer amount of data to be analyzed requires very powerful and intelligent analytics platforms, skilled personnel  and mushrooming storage capacity (the Cloud?), but also brings up privacy and speed issues.,[object Object],Overlaying data from multiple sources (select paid tools) provides  the right context and insight which is missing most free tools and platforms, but these are difficult to plan for, evaluate and properly manage.,[object Object],Consensus within organizations is difficult to manage, change control, clear roles and unambiguous ownership are needed,[object Object],Level of Certainty information is correct and actionable is what businesses are paying a premium for (for example: Klout vs. TRAACKR or mPACT on influencer identification),[object Object]
The Medium is the Message -McLuhan,[object Object],Social Media altered how communications are perceived,[object Object],Analytics altered how Social Media is valued,[object Object],Data and Insights is the message the C-Suite really wants and needs,[object Object]
PR vs. Marketing  vs. Analytics. Who Wins?,[object Object],Paul Holmes vs. Marshall Sponder in Davos at On The Top  - Feb 2011,[object Object],Hint – read next slide,[object Object]
    ,[object Object],holmesreport.com - Does Your Agency Need A Chief Analytics Officerposted by Paul Holmes,[object Object],I am on my way home after a debate at the Communication on Top Forum in Davos on the subject of “The New PR vs. The New Marketing.” Given that the audience consisted primarily of PR people, I figured the odds were stacked heavily in my favor, and maybe my original opponent felt the same way, since he withdrew at the last moment. As it turned out, he was replaced by Marshall Sponder, a Brooklynite, author of the upcoming book Social Media Analytics and an expert in the same subject.,[object Object],Marshall and I certainly didn’t agree on anything, and I certainly don’t think we’re going to witness a wholesale takeover of the PR field (or the marketing field) by analytics folks (although you could make the case that Mark Penn at Burson-Marsteller is in the vanguard of just such an invasion). But I do think Marshall is right that PR people need to understand analytics better, and make analytics a much more robust element in both planning and evaluation.,[object Object],So I’ll meet him half way. Two or three years from now, every public relations firm that wants to be taken seriously in the C-suite and/or a lead marketing role with have someone like Marshall in its senior leadership ranks, a chief analytics officer responsible for ensuring that account leaders think more deeply about analytics and that the firm works with the best available outside suppliers to integrate analytics appropriately.,[object Object]
Getting our Business and Measurement  Metrics goals / tactics aligned,[object Object]
For more information:,[object Object],Marshall Sponder,[object Object],www.Webmetricsguru.com,[object Object],SocialMediaAnalyticsbook.com,[object Object],Now.seo@gmail.com,[object Object],@webmetricsguru,[object Object]

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Social media roi measurement for socialize 2011 nyc - april 1-2011 - marshallsponder-socialmediaanalyticsbook-com

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