Presentation on theme: "Social Metrics – Evil and Essential Presented: June 27, 2012 for Social Medial Breakfast Waterloo Region #smbWR By: Kelly Craft"— Presentation transcript:
Social Metrics – Evil and Essential Presented: June 27, 2012 for Social Medial Breakfast Waterloo Region #smbWR By: Kelly Craft (@krcraft)
acknowledgements and appreciation Let’s give a round of applause to James Howe & the @smbWR volunteers for all that they do to nurture the #socbiz conversation. Kudos also to Alan Quarry (@aquarry) and his team for acting as our gracious hosts today. They really understand #custexp And thanks to Quarry and @thebauerkitchen for donating the 4 - $50 gift cards you might win today! mmm… Short Rib Gnocchi #smbWR
More Practitioner than Preacher, but can sing with the choir Lateral, tech-savvy hybrid spanning strategy, design, implementation & analytics 10+ years with multi-national vendor for Enterprise Collaboration platform Narrative story engineer Big believer in taking a holistic approach to business Silo buster and frequent dinosaur tipper
the mission – why bother? Help organizations learn how to tell more compelling end-to-end stories (narratives) Define and refine supporting strategy, delivery methodologies, and frameworks Using repeatable methods for measuring success, identifying patterns, and recognizing risks enables agile responses #smbWR
Core challenges of metrics: Evil = Anything can be measured. Essential = Analysis that turns data into actionable intelligence. #smbWR the devil is in the details
Evil Biggest evil of all: most orgs don’t bother to ask customers what they want before planning social strategies. Mindless measurement: tracking stats without setting goals. Metrics without analysis and action aren’t worth tracking at all. #smbWR
Essential Customers will measure you by their own set of metrics, which might be far different than your own. Find out what they want. Metrics must be tied to business goals, events, and KPIs. Metrics are rarely static. You can support dynamic changes by implementing a repeatable process for measurement, analysis, & action. #smbWR
conversation mapping Collect social media conversations Who? Customers, partners, leads, competitors, industry analysts, advocates Where? Create conversation maps & matrix of channels and overlaps. What? Examine and identify what is important and relevant to the target audience Why? Identify segments by categories and themes #smbWR
metrics Metrics are rarely static. Have core benchmarks, but tweak, refine and add as you surface new intelligence Segment metrics based on use cases and jobs to be done – not revenue Singular metrics aren’t very useful. Metrics should be grouped and compared from multiple pivots. (i.e. channel to channel) #smbWR
metrics based on events Mail campaigns, product launches, sales, conferences, webinars, even things like relocation of an office facility or Service disruptions like RIM or Rogers outage Even a tweet is an event. Especially the snarky ones. ;) Events may have additional (tightly and loosely) related events – Press release, analyst opinion, stock price decrease.
events > metrics > results #smbWR Bonobos. Exclusive sale on Twitter generated 1,200% ROI in 24 hours on promoted tweet. (Twitter, 2011) Charles Schwab. Online community drives 56% increase in Gen X customer base versus year ago. Honda. Friending Honda campaign increased Facebook fans from 15k to 422k, generated over 3,500 dealer quote requests. Kiddicare. 30% reduction in inbound customer communications and first call resolution increased from 60% to 98% via sCRM solution. (GetSatisfaction, unkn) Starbucks. 75,000 product and service ideas suggested. (Forrester, 2008) Virgin America. Exclusive flash sale on Twitter raised the maximum $50,000 in charitable donations for Stand Up To Cancer. It was also one of the top five sale days ever for the airline. (Twitter, 2011) Virgin America. Exclusive flash sale on Twitter drove 25% increase in sign-ups over the previous week to Elevate, Virgin America’s loyalty program. (Twitter, 2011) Source: http://www.dachisgroup.com/2012/01/social-business-roi-examples/http://www.dachisgroup.com/2012/01/social-business-roi-examples/
current situation – recent event On top of 300 job cuts in March, Rogers eliminating 375 more jobs, citing ‘low profits’. Q1 profits? $305 million Challenge: Rogers reports they lost 7,000 cable customers in a highly competitive period (Q1) with Bell's IPTV service. UBS analyst Phillip Huang said at that time the loss of subscribers was not a "one-off event'' and he has predicted Rogers will lose 86,000 cable subscribers in 2012. #smbWR
listen analyze act Methodology provides a framework for better identification and extraction of target data sets Easier to plan KPIs and set goals Unify activities across business units & phases collaboration Create consistent matrix structured on event/phase/perspective themes Analyze data by conversation, author and domain within each theme/phase Optimize content (in parallel with traditional non- digital campaigns)
#smbWR I’d like to extend my personal ‘thanks with an cherry on top’ to all of you for joining us this morning, especially for sticking it out and not running for those emergency exits 30 minutes ago!