Social Bakers EngageX: Building Measurement Frameworks - 1000heads
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1000heads presentation on building measurement frameworks and calculating ROI for social.
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Social Bakers EngageX: Building Measurement Frameworks - 1000heads
- 2. SOCIAL MEDIA MEASUREMENT IT’S NOT ONE SIZE FITS ALL
- 3. DEFINE SUCCESS HOW CAN WE MEASURE IT
- 4. MEANINGFUL MEASUREMENT MEASURING BEHAVIOR CHANGE “If you change the way you look at things the, the things you look at change” - Dr. Wayne W. Dyer
- 5. THE BASICS WHAT YOU CAN & SHOULD MEASURE OWNED PAID EARNED
- 6. VALUE OF SOCIAL ACTIONS NOT ALL ARE EQUAL Light engagement High quality engagement Sales Follow See Watch Talk Share Create Buy Acquisition Awareness Investment Participation Amplification Creation Sales leads Follow -owned social presences in social Like a brand post on -owned channels Watch more than 75% of a video Comment on a brand post or engage directly with Share content with own community Users create content and share with their communities, either unsolicited or inspired by campaign activity Click through to ecommerce page, demonstrate intent to purchase or recommend a product to others Awareness Amplification Advocacy
- 7. “Word of mouth is the primary factor behind 20-50% of all purchasing decisions.” McKinsey, ‘A new way to measure word-of-mouth marketing’, 2010
- 8. SOCIAL MEDIA ROI DOES IT EXIST?!
- 9. “Facebook brand fans spend 43% more in respective categories versus non-fans, despite not having higher income” Syncapse The Value of a Facebook Fan, 2013
- 10. THE VALUE OF A FAN OUR RESULTS Put a monetary value on a Facebook fan for Skype Understand reasons for ‘liking’ Skype on Facebook Based on our findings we were able to… Create a simple measurement framework that helped solved for ROI
- 11. “Building social advocates (people who share their brand passion with others) delivers at least a 12x ROI; more than twice the ROI of other marketing programs” Harvard Business Review
- 12. Connected The measure of the overall reach generated by social sharing Forum memberships Fan networks Follower networks Blogger readerships Involved The measure of the actions taken by voices to create and share content Shares Diggs Retweets Posts Comments Interactions per fan Immersed The measure of brand advocacy Brand love Expressed preference Recommendation Frequency and positivity of brand conversations Persuasion Interested The measure of the actions taken by voices to consume content Video views Social traffic Subscribers New fans New followers Disconnected All those in social media not reached by conversations and content Social value to brand (sales, repeat sales, recommendation driven sales) ActionsConnections Low engagement High engagement MEASURING ADVOCACY FROM FRENEMY TO SUPERFAN
- 13. 92% of people trust recommendations from people they know. 58% trust branded websites. 36% trust ads on social networks. Nielsen Global Trust in Advertising Survey, 2014
- 14. EQUIVELANT MEDIA VALUE HOW TO CALCULATE INDUSTRY STANDARD CPM Cost per 1000 impressions for traditional display advertising TRUST VALUE MULTIPLIER “WOM value” people trust social media content more than traditional advertising
- 15. SOCIAL CONVERSION MODEL MEASURING FRAMEWORK INFLUENCE Uplift in brand conversations Uplift in sentiment Increase in share of voice Conversations within new audiences RETENTION Community engagement (sharing, liking, commenting, posting, participating)Advocates LEADS / CONVERSIONS Social traffic to website Leads to partner channels Community purchase uplift (via polls) Attributable sales uplift (inc customer transaction exit polls, campaign/sales correlation, YOY / MOM uplift) AWARENESS Reach of earned conversations Reach of owned content Reach of supporting media (bought) $ media equivalent value for conversations using our EMV (equivalent media value) calculator ACQUISITION Growth in new fans and followers Newsletter and forum registrants $ per fan (qualitative research)
- 16. MEASUREMENT CAN BE FUN! EXAMPLE MODEL
- 17. MEASUREMENT CAN BE FUN! EXAMPLE MODEL
- 19. Thank you @1000heads t: +212 941 1000 e: deanna.sandmann@1000heads.com
Editor's Notes
- NOKIA advocate program – primary KPI was SHARING Know what’s important to you – Nokia advocate program we found that their advocates were more likely to share their content key indicator for advocacy was the frequency of how often content was shared, so shares became the defacto measurement KPI of the program
- Skype wanted to move away from infrequent video to video usage and increase everyday usage so we looked at frequency of conversations and spontaneous use cases in conversations (also measure multi-feature and mobile usage) Sky in the UK conversations versus subscriptions Conversations versus downloads etc.
- Value of a fan survey overview A survey promoted on Skype’s Facebook page to help us gain invaluable insight into who is following us and their Skype usage Survey looked at: Reasons for engaging with Skype in social Frequency of usage Multi platform usage Multi feature usage Paid feature usage 795 people completed the survey with 475 qualifying results
- There’s some amazing work being done by brands in this space too – in Colombia you have TalkWOM and Fernando Anzures doing some excellent campaigns, I’m sure we’ll be seeing some more stratgiees and work showcased here in this conference.
- There’s some amazing work being done by brands in this space too – in Colombia you have TalkWOM and Fernando Anzures doing some excellent campaigns, I’m sure we’ll be seeing some more stratgiees and work showcased here in this conference.