What’s happening more quickly… Is social media becoming more traditional… ..or is traditional media becoming more social?
Would you like 1% of your social media audience very involved.. …or 10% of your audience somewhat involved?
If we hold sales people accountable for sales and operations people accountable for operations… … what do we hold social media people accountable for?
The 10 somewhat immutable laws of social media measurement… 10 SOCIAL MEDIA MEASUREMENT
…because its ½ of what your next student/employee/customer does… Source: Harrison Group 2007
…because it’s the new currency on how to build brands “ Something you Buy” “ Something you Trust” “ Something you Want” “ Something you Prefer” “ Something you Love” “ Something you Participate In”
“Social media value is trapped in the Long Tail of its metrics” Law #2 - Social Media Metrics Metrics Why Social Media benefits are trapped in the tail…
“It’s an intimacy medium – Participation of a few > Eyeballs of many” Law #3 - “ The Ones Who Create Ideas” “ The Ones Who Spot & Scout New Stuff” “ The Ones Who Sell and Lead Opinions” “ The Ones Who Provide Credibility” “ The Ones Who Attract Attention” “ The Ones Who Connect & Spread the Word”
Harnessing the Influencer Grapevine Turning small groups of Enthusiasts, Users, Customers and Consumers Into Authors, Producers, Scouts, Testers and Collaborators & Broadcasters Into Community Members, Advocates, Ambassadors and Evangelists Thinktank/ Sounding Board Scout/ Mystery Shopper Advisory Council/ Cause Torchbearer Seeded Adopter/ Beta Tester Customer User Consumer Collaborator/ Producer Evangelist/ Ambassador/ Advocate Community Member/ VIP Insider Influencer
“ The measurement lense depends on your perspective… Law #4 - A hustler (media/ads) A fisher (e-commerce) A surveyor (researcher/ innovation) A farmer/gardener (community owner) A sniper (PR)
The Influencers – 6 Archetypes A Fisher (E-commerce) “What’s my catch like?” - Visitors, conversions, sales A Hustler (Ads/Media) “How many people paid attention?” - Traffic, page views*, time spent A Sniper (PR) “Who is my most important target?” - Authority ranking, influence, velocity, comments/post A Farmer/Gardener (Community Owners) – “What am I growing/is this being cared for?” - Engagement, interaction, sentiment A Surveyor (Research/Innovation) – “What have we learned?” - Insight, quality of content, relevance
Social media outcomes trump traditional media inputs… Law #5 - Traditional media measurement deals with what you aired… … social media measurement deals with what actually happened Vs.
1 +1 = 3 – Social Media Measurement is multi-variate Law #7 -
What is your Social Media Shooting for? Reach – how far does it travel? Relevance – does it support your intended direction? Influence – who shares and passes along with who? Authority – how trusted is the source? Engagement – how involved do they get?
What is Your Social Media Shooting for? Interaction – do they do anything with it? Velocity – how fast does it travel? Attention – how much time do they spend with it? Sentiment – how positive are they? Net Promoter – are they recommending you?
What progressive companies are currently practicing? Currently Use Plan To Pilot Blogs 49% 31% RSS 47% 32% Social Networking 40% 31% Customer Service 40% 26% Podcasts 33% 41% CGC 27% 35% Wikis 21% 29% Co-creation 13% 24% Open-Source 12% 20% Virtual Worlds 9% 23% Source: Society for New Communications Research, 2007
Take Back to the Class Join the conversation: - Facebook, LinkedIn, Twitter - Find top 50 blogs of interest - Start commenting Start a new conversation: - Build a blog – post 27 types of conversation - Outreach to other bloggers - Produce a Social Media Release - Network out to video/photo sites - Social bookmark content Define what they should measure: - Establish metrics - Roll their own measurement - Track progress over time - Measure vs. objective Analyze results: - Prove the value of the effort - Identify improvement
Thank you for the chance to talk about word of mouth… Personal background: Client for many years at P&G, Molson, Guinness/Diageo, a place called Echo Having spent a wealth on traditional advertising – I’m a born-again marketer My bet is it’s a big part of marketing’s future and at the end of this presentation, you’ll grab three things: - word of mouth is really powerful and for a wide a variety of brands, I should be thinking about it as an integrated part of upcoming plans - word of mouth can be orchestrated and you can do it credibly and avoid the pitfalls, you can make it a valuable marketing touchpoint and maybe even strategy for your business - Agent Wildfire is Canada’s Expert here – they have the experience, knowledge, database, assets and team to help my business – they are not one size fits all, they have options sized for my business