Social analytics

Building an effective analytics programMark Farmer, Ryerson University – July 29, 2013

Return on investment != “Return on engagement” (Gain from investment - cost of

investment) / cost of investment In other words, you want to get out more

then you spend

ROI

It’s immeasurable You shouldn’t measure You need to find the dollars ROAS (Return on Ad Spend) equivalent is

what matters

Myths

Reach Engagement

◦ Conversation Influence Traffic Conversion

◦ …to sale

What do you measure?

Facebook◦ Page impressions◦ Stories created

Comments Shares

◦ Likes◦ Fans◦ Reach◦ People talking about this

Specific measures

Twitter◦ Mentions◦ Retweets◦ Impressions◦ Clicks

Specific measures

YouTube◦ Views◦ Minutes watched◦ Subscribers◦ Likes◦ Shares◦ Favourites

Specific measures

LinkedIn◦ Shares◦ Comments◦ Views

Specific measures

Benchmark!1. Previous effort2. The competition3. Phone-a-friend4. Going forward

But before you do that…

Engagement & Reach◦ Twitter

Retweets Favourites

◦ Facebook Likes “Talking about this” index

◦ YouTube Likes Favourites

◦ Specific interactions (likes, shares, etc.) for other media such as Tumblr, Pinterest, Instagram, etc.

How I slice them: part 1

Pure Reach◦ Facebook

Likes Views Organic & viral reach Virality Frequency of visits per user

◦ Twitter Tweet reach

◦ YouTube Subscriptions

◦ Traffic metrics from other sources such as Tumblr, Pinterest, Instagram, etc.

◦ Total monthly mentions in Radian 6 / Sysomos segmented by sentiment

How I slice them: part 2

Influence◦ Top influencer reach in Radian6 / Sysomos◦ Interaction rate of top influencers◦ Number of stories picked up by mainstream

media via digital sources

How I slice them: part 3

Sentiment◦ Net sentiment in Radian6

How I slice them: part 4

Traffic◦ Total social mentions, filtered by sentiment◦ Social traffic to website & blogs

How I slice them: part 5

Many of the metrics listed above depend on a variety of inputs. Because of this, digital media practitioners shouldn’t be held solely responsible for moving these metrics; such metrics are impacted by many different inputs above and beyond the digital media channels available to an institution.

Challenges

For example, sentiment is a key metric because it’s a proxy for consideration: if people think of you favourably online, we can safely assume (and correlate quantitatively, if needed) that they will consider buying from you / interacting with you in a desirable fashion.

Challenges

However, sentiment is influenced by many different sources around an institution, which are completely separate from digital media.

Challenges

Therefore, although net sentiment can be benchmarked for specific posts or digital media channels, digital media success can’t be based on net sentiment for an institution. Digital media might only contribute a small part of an institution’s overall net sentiment and perception.

Challenges

Radian6 Sysomos Heartbeat SproutSocial HootSuite Google Analytics / Adobe Site Catalyst /

Webtrends / etc.

Tools – 3rd-Party Dashboards

Facebook Insights Google+ ripples (sort of) (ok, not really)

Tools – native dashboards

LinkedIn◦ “Whose viewed your updates”

Being “rolled out” http://christinehueber.com/2013/your-new-more-personalized-linkedin-homepage-by-christine-hueber/

◦ Corporate page analytics Instagram Pinterest

Tools – native

Other◦ Tumblr - statcounter◦ WordPress - Google Analytics / Adobe Site Catalyst

Specific measures

Twitter Why? $

What’s missing?

Hashtracker TweetReach Searchhash.com

Tools - other

Excel Pivot charts

Your new best friend

How do we turn this into money?◦ You don’t - it’s part of a marketing funnel◦ “You set ‘em up - we knock ‘em down”

Change over time Sentiment - proxy Social care Social CRM SWOT analysis

Selling it to the C Suite

The funnel

http://www.smartinsights.com/social-media-marketing/facebook-marketing/what-is-the-value-of-a-facebook-fan-a-case-study/

Value

Twitter reach: http://www.unmarketing.com/2012/04/15/w

hen-we-exaggerate-our-size-everyone-loses/

Porblems: part I

Learn what works for you

Olivier Blanchard - Social Media ROI: http://www.amazon.ca/dp/0789747413

Beth Kanter - Measuring the Networked Non-Profit: http://www.amazon.ca/Measuring-Networked-Nonprofit-Using-Change/dp/1118137604

Katie Delahaye Paine - Measuring What Matters: http://www.amazon.ca/Measure-What-Matters-Understanding-Relationships/dp/B00D821V28

Avinash Kauishik – Web Analytics 2.0: http://www.amazon.ca/Web-Analytics-2-0-Accountability-Centricity/dp/0470529393

Resources

Me ca.linkedin.com/in/markfarmer64 twitter.com/markus64 http://digitalheresy.tumblr.com