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A Framework For Measuring Social Media Activity Republished by IAB Ireland Social Media Council Produced originally by Richard Pentin, Group Planning Director,

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Presentation on theme: "A Framework For Measuring Social Media Activity Republished by IAB Ireland Social Media Council Produced originally by Richard Pentin, Group Planning Director,"— Presentation transcript:

1 A Framework For Measuring Social Media Activity Republished by IAB Ireland Social Media Council Produced originally by Richard Pentin, Group Planning Director, TMW On behalf of IAB UK Social Media Council With thanks to IAB UK Social Media Council and digital and direct marketing agency Tullo Marshall Warren (TMW) measurement-frameworkhttp://www.iabuk.net/research/library/social-media- measurement-framework

2 introduction  IAB Social Media Measurement Framework  The IAB Ireland Social Media Council have adopted the IAB Social Media Measurement Framework as the best framework to measure, benchmark and evaluate social media campaigns.  The framework, created originally by IAB UK Social Media Council in partnership with digital and direct marketing agency Tullo Marshall Warren (TMW), has been designed to help advertisers and agencies better digest the complexities of social media measurement.  This framework is complemented by Irish case studies, provided by the IAB Ireland Social Media Council.

3 overview 1. Why do we need a framework? 2. The iab measurement framework 3. Guidelines to defining KPIs 4. Putting theory into practice

4 1. Why do we need a framework?

5 why do we need a framework? WHY? EFFICACY INTERPRETATION OPTIMISATION BENCHMARKING STANDARDISATION ACCOUNTABILITY COMPANY SPECIFIC REASONS INDUSTRY SPECIFIC REASONS

6 2. Introducing the iab framework

7 the iab framework intent awareness appreciation action advocacy benchmark Establish intentions and objectives in order to define which KPIs are most pertinent Define core KPI metrics by social media platform (soft metrics & hard financials) Compare benchmarks with other SM activity, channels, industry averages

8 intent Without clearly defined objectives we have absolutely no criteria on which to evaluate success intent Establish intentions and objectives in order to define which KPIs are most pertinent

9 intent To build brand awareness? To generate buzz, advocacy or WOM? To generate brand engagement? To shift consumer perceptions? To influence key opinion formers? To generate leads or build prospect base? To stimulate dialogue or relationship with prospects To encourage participation for social event? To manage brand reputation? To divert a PR crisis? To engender customer loyalty? To uncover customer or product insights? To enhance customer service? Your intent should dictate which KPIs are most pertinent

10 intent But the trick here is to collate your KPIs into more meaningful groups in order to tell a bigger story…

11 The 4 As awareness appreciation action advocacy awareness Awareness of social media platform appreciation Engagement and appreciation of content on social media platform APPRECIATION action Solicits a response or influences purchase behaviour in some way advocacy Creates WOM or stimulates advocacy KPIs can be assigned to one or more of these 4 As to tell a bigger story Define and measure core KPI metrics by social media platform (soft metrics & hard financials)

12 The 4 As The importance you place on all 4 As will depend on your original intent INTENT 1INTENT 2 Activity designed to generate buzz and WOM might focus more on awareness, appreciation and advocacy metrics Activity designed to generate leads may be much more weighted towards action metrics WEIGHTING OF METRICS

13 benchmark Without comparative benchmarking most metrics are completely meaningless Compare benchmarks with other SM activity, channels, industry averages

14 What is this? An atom, a ping pong ball or a beach ball?

15 Uranus’ approximate density is 1.27 grams per cubic centimeter Atmosphere: 82.5% molecular hydrogen, 15.2% helium and 2.3% methane The mass of Uranus is about 8, The diameter of Uranus is 51,118 km Its distance from the sun is 19 AU Uranus travels at an average speed of 15,290 miles per hour Average temperature -350 degrees. URANUS Now for some interesting but fairly meaningless metrics

16 Metrics only have real meaning when compared to something else

17 benchmark So, how does this social media platform compare to other social media platforms used by your brand? Only compare with other platforms which share similar objectives

18 benchmark ADVERTISING DIRECT MARKETING CUSTOMER BASE COMPARATIVE BENCHMARKIN G PUBLIC RELATIONS E- MARKETING SALES PROMOTION CRM EVENT MARKETING SOCIAL MEDIA MARKETING CHANNEL How does this social media activity compare to other marketing channels? Only compare with other channels which share similar objectives, otherwise it’s not comparing like-for-like

19 benchmark How does this social media activity compare to your competitors? Only compare your platform to competitors where they share similar objectives

20 benchmark How does it compare to historical data? Time Social Media Metric ? Has this activity improved since last measurement period?

21 3. Guidelines to help define KPIs

22 defining KPIs  3 parameters for defining KPIs  by social media platform (e.g. blog, microblogging, community forum, social network, fanpage, video sharing site, branded channel widget/application etc)  by 4As  by soft metrics AND hard financials

23 defining hard financials awareness appreciation action advocacy awareness Cost per Impression (CPI) appreciation Cost per Engagement (CPE) APPRECIATION action Cost per Lead (CPL) advocacy Cost per Referral (CPR) Define and measure core KPI metrics by social media platform (soft metrics & hard financials)

24 defining KPIs  The following tables are intended to outline some of the KPIs at your disposal.  It is only intended to be a helpful guide rather than an definitive list  Select the KPIs most pertinent to your objectives or feel free to add KPIs of your own!

25 social media measurement iab SOCIAL MEDIA PLATFORM INTENT AWARENESSAPPRECIATIONACTIONADVOCACY BENCHMARKS Awareness of social media platform Brand engagement and appreciation of social media platform Solicits a response or influences purchase behaviour in some way Creates word of mouth and stimulates advocacy Can be any Social Media platform eg. Social network (community forum, fan page), Blog, Microblogging,App, Sharing video / photos, podcasting, Social Media Advertising. SOFT METRICS Search rankings# of fans / followersWebsite referrals# of bookmarks Comparative stats from: - similar social media platform/similar historical campaigns - other social media platforms - non social media platforms (e.g. direct mail/banner advertising) - competitor activity - non-sector specific/best in class Referrals from brand website# of subscribers ( , RSS)Call centre enquiries# of status updates Unique visitors # of comments, # of DMs, # of plays, bookmarksBrochure requestsShare This metrics Reach# of discussion threadsCoupons downloaded# of tweets / retweets per post Impressions inbound links, trackbacks, pinbacksHandraiser registrationsDigg/ Stumbleupon/Reddit Search rankings# of active users # of inbound links Poll votes Influence Ranking Page views Media coverage incl blogs Videos viewed Video installs Return visits spin-offs (video) Dwell time # of competition entries UGC uploads/submissions FINANCIAL Cost per Impression (CPI)Cost per Engagement (CPE) Cost per Lead (CPL) Cost per Referral (CPR) Cost per unique visitorCost per subscriberIncremental sales Cost per page viewCost per incremental sale Cost per followerFrequency of purchase Cost per play (video)Average purchase value Reduction in call centre costs Retention rates

26 measurement template iab SOCIAL MEDIA PLATFORM INTENT AWARENESSAPPRECIATIONACTIONADVOCACY BENCHMARKS Awareness of social media platform Brand engagement and appreciation of social media platform Solicits a response or influences purchase behaviour in some way Creates word of mouth and stimulates advocacy Can be any Social Media platform eg. Social network (community forum, fan page), Blog, Microblogging,App, Sharing video / photos, podcasting, Social Media Advertising. TIP: Do a separate table for each Social Media Platform so you can compare them against each other SOFT METRICS Comparative stats from: - similar social media platform/similar historical campaigns - other social media platforms - non social media platforms (e.g. direct mail/banner advertising) - competitor activity - non-sector specific/best in class FINANCIAL Cost per Impression (CPI) Cost per Engagement (CPE) Cost per Lead (CPL) Cost per Referral (CPR)

27 4. Case studies using the framework


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