Social Media Marketing — Linking Insight and ROI
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I’m fortunate because I get to devote a great deal of time with customers on a daily basis and my current portfolio comprises 86 agencies. One increasingly common topic of debate at meetings is measurement, ROI and societal media in particular.
*For more guidance on societal selling, check out our quick triumph, What’s Social Selling and is it successful? , including detailed suggestions and activities on the B2B societal marketing platform LinkedIn. It can help you find, connect and engage with mre if the perfect type of people and how to turn them into paying customers. *
Amongst customers across varying sectors I see a great deal of focus on owned stations, and I feel the capacity of large data enabled by social media is often underutilized. What’s more, with in-house teams growing their own capabilities, agencies have to diversify where they add value.
Beyond owned, paid and earned are two such places where comprehension and consultancy may add true value, and in this post I concentrate on the measurement of earned social media. Paid, with all of its attribution versions and programmatic buying, is another post altogether.
PR agencies have an advantage with interpersonal interpersonal networking, as they already have decades of relationship building experience with journalists and in creating content. Thus, engaging with societal communities and powerful bloggers, by way of instance, could come easier to a PR professional than possibly advertisers. They know to listen and to not be the proverbial loudly guy at the celebration – join the conversation, do not broadcast.
However, PR’s do need to step up their understanding of paid, even if not to execute paid campaigns but to be able to converse on the integration of all activities. Notably as native advertisements, in the shape of sponsored content, is becoming more and more prevalent and equal alongside earned networking.
What opportunities does social media hold for us when we venture outside our owned stations?
I’ve put together a brief list, that is by no means exhaustive and I welcome your opinions to raise and produce this.
- Efforts (e.g. how are people responding to your activities beyond your stations)
- Influencers (e.g. greatest audience vs. real influence and influencers vs. advocates)
- Trends and bench-marking (e.g. always benchmark to understand where you have come from)
- competitions (e.g. competitors which achieve high involvement rates with their material may help you with ideas for future campaigns)
- Communities (e.g. what exactly are crucial fashion and wellness writers saying, irrespective of whether they mention your brand? Learn so you can join the conversation)
- Subject matter / topics (e.g. sector research on soft drinks or pastries)
- Complaints / testimonials (e.g. standing direction)
- Key industry statistics (e.g. shifting opinion on sugar by a specified politician can affect you if you are a biscuit firm)
- Crisis direction (e.g. the life of a story – how effectively have you handled a circumstance, do folks still tweet about it a week after?)
- Author research and segmentation (e.g. understand who is speaking about you by assessing material by demographics)
- Business unit functionality (e.g. that Ben & Jerry’s flavour is creating the most buzz and content?)
- Secondly screening and ad correlation (e.g. assessing time stamps of content may tell you if individuals were instant screening, or if a new ad influenced them to engage with you)
Always consider what the goals are:
- Create awareness
- Create prospects, boost sales
- Increase sign ups, registrations, app downloads
- Deepen connection with customers
- Horizon scanning
- Crisis and standing direction
- Optimise Content
- New product development
The perfect combination of what to quantify will always depend on your own key social networking objectives, which subsequently must always tie in with the broader business aims.
I’ve observed communications strategies unaligned with the overarching businesses goals, and doing so may well function from time to time, but it might jeopardise the endurance and perceived functionality of an activity/campaign.
I would strongly recommend to begin at the top, the company objectives, then work your way down.
Frame for establishing Your Company and Social Networking objectives
Below is a framework that I have put together that may be used as a rough guide. (Message me @eMannoia if you would like a sterile frame to work with and I can send you one.)
Here a sample framework I completed:
Ideally, you should use 1 measurement framework, but different metrics for different objectives. Where possible, using metrics that the broader company employs like earnings, Net Promoter Scores (NPS), market share, footfall, ROI etc. ) will streamline reporting up to senior administration and make it even more successful. Consistently link effects back to company aims.
Be Conscious of some common drawbacks:
- Twitter opinions – Aggregated impressions, that can be added up followers, will immediately give you figures in the millions but as Danny Sullivan writes ‘that you may have to tweet 14-21 occasions per week in hopes of reaching just 30 percent of your overall viewers’. Twitter can supply you with actual served impressions, other providers will just show total possible impressions.
- Sentiment – As this is automatic that the precision can occasionally be atrocious. More so when you are a customer brand like Red Bull, where people may say ‘I’m dying to get a Red Bull’, ‘Red Bull is ill’, ‘Red Bull is badass’ etc..
- Scores – Like Klout can lack transparency, context and may be deciphered
- Location – Facebook, Tumblr, some Twitter content and other . Com domains may hamper the results to appear to be originating from the U.S.
A holistic measurement solution should catch both quantitative and qualitative outcomes, using societal listening tools, societal campaign execution tools, internet traffic data and ideally earnings figures. That’s when you’re able to go beyond measuring easy outputs, and look at actual outcomes. This is when you’re able to prove a return on your investment.
Were a spike in content after a specified campaign cause a surge in earnings, sign-ups, museum visits or, if you are a charity, volunteers – Is there a correlation?
Multichannel integrated campaigns are almost the norm nowadays, so to get a more complicated analysis of participation one can also use econometric modelling. Apart from correlation analysis and econometric modelling, market research is just another instrument that may determine behavioural shifts, changes in NPS and general consciousness.
Also keep a watch out for the absence of data and the corresponding insight derived from this, and conversely, do not simply measure data that’s easily available but not relevant. When you have the results and look to translate them remember, as Rob Clark put it, ‘Not what, but so what and what’.
What brains do you gather?
Eliot currently consults customers on social and digital networking plan at IPG Mediabrands, as well as the duty of aligning the bureau’s paid, natural, content and strategic societal offering. He provided strategic information about mainstream and electronic media to premium customers at Gorkana, part of the Cision Group, as account director and senior consultant. He brings over thirteen years of experience in advertising, electronic and societal media throughout the environment, media and technology businesses. Past customers include United Biscuits, Microsoft, Asics, Skype, Red Bull, Unilever and Starwood. You may view more of his work here or join Eliot on LinkedIn.