What you're missing in social media measurement, presented by Nichole Kelly
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In her Brands-Only Summit Pre-Conference presentation, Social Media Explorer's Nichole Kelly discusses why it's actually very easy to measure social media ROI. She shares a shortcut that will change everything and an actionable framework to get to bottom-line results quickly.
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What you're missing in social media measurement, presented by Nichole Kelly
- 1. What you're missing in social media measurement NICHOLE KELLY SOCIAL MEDIA EXPLORER OCTOBER 2729, 2014 ORLANDO SOCIALMEDIA.ORG/SUMMIT2014
- 2. What You’re Missing in Social Media Measurement Nichole Kelly, CEO, SME Digital
- 3. What’s holding us back from measuring social media ROI? Twitter: @Nichole_Kelly
- 4. We’ve zoomed in too far Twitter: @Nichole_Kelly
- 5. We’re measuring a single channel world Twitter: @Nichole_Kelly
- 6. Can we fix it? Yes. There are short cuts.
- 7. There is one key to measuring social media ROI Twitter: @Nichole_Kelly
- 8. Isolating social users in the database USERS Twitter: @Nichole_Kelly
- 9. Conduct a data flow audit Twitter: @Nichole_Kelly
- 10. Link tagging is the number 1 short cut Source = SLC + channel promoted in Medium = Content type Campaign = Content 8tle Twitter: @Nichole_Kelly
- 11. Additional data to consider for tagging • Social Account Name • Line of business • Product • Organic or Paid • Size and ad type if paid • Department • Unique ID for status update Twitter: @Nichole_Kelly
- 12. Gap analysis • Will the current process work for real-time link creation? • Is there a need for operationalizing link tagging? • How much content curation do you do? – Only works for links sent to company website with primary web analytics code • How many microsites and other company websites don’t have primary web analytics code? Twitter: @Nichole_Kelly
- 13. What impact will it have? It changes everything
- 14. Q2 Report – June 2014 Measuring the Social Media Customer Journey 51% cheaper average cost per acquisition Organic search top converting source . . . . . . Consideration Engagement Acquisition Customer Retention cheaper average 7.1% 39% cost per website visit 29% 79% 92 increase in average cost per engagement higher average product adoption for social link clickers % of positive reviews 8 % of negative reviews $.15 average CPM Q2 $.75 ACPE Higher CPE a result of increase in ad Budget for 2nd QTR Brand campaign $11.75 In Q2 Increase in paid ad spend increased CPM, but CPSV declined than non-social link clickers Awareness ✔ 5.1 in Q2. Up from 4.9 in Q1. *An engaged social media user is someone who clicks on a link shared on a social channel Advocacy Loyalty 41% higher average 3-year customer value $1580 in Q2 High negative reviews in York, PA – Escalated to reg. manager cheaper average cost per thousand impressions (CPM) than paid search only than non-social link clickers
- 15. Control Group Analysis – 1st party link clickers Social’s Influence on Consideration Visit 171% more o?en than the average site visitor with 259% more page views They spend 323% more 8me on site and bounce 72% less o?en They are far more likely to visit the site mul8ple 8mes. On average they have a 950% li? in mul8ple visits over the average site visitor. They consume our content and do it o?en with a 2672% increase in 51 to 200+ visits Twitter: @Nichole_Kelly
- 16. Control Group Analysis – 3rd party link clickers Social’s Influence on Consideration They visit our site a?er consuming curated content. Visit 188% more o?en than the average site visitor with 302% more page views. They spend 474% more 8me on site and bounce 71% less o?en They are far more likely to visit the site mul8ple 8mes. On average they have a 1351% li? in mul8ple visits over the average site visitor. They consume our content with wild voracity with a 4915% increase in 51 to 200+ visits Twitter: @Nichole_Kelly
- 17. Control Group Analysis – Social’s Influence on Consideration Twitter: @Nichole_Kelly
- 18. Control Group Analysis – Influence on Consideration Twitter: @Nichole_Kelly
- 19. Questions? Not everything that can be counted counts, and not everything that counts can be counted. -Albert Einstein Email: nkelly@socialmediaexplorer.com Book: How to Measure Social Media
- 20. Learn more about past and upcoming events SOCIALMEDIA.ORG/EVENTS OCTOBER 2729, 2014 ORLANDO SOCIALMEDIA.ORG/SUMMIT2014