Tag Archives: social media metrics

Recap on @Avinash: Influence, experience and value #Google ‘s #ThinkPerformance

@iamstevetay 's photo from the dayToday’s Google #ThinkPerformance in Toronto offered a wonderful line-up of trailbrazers from @avinash @simonrodigue @mitchjoel Claira Bara, Matt Ackley and more.

People vocal about emerging trends, how to use data to drive business decisions, vocal on stupid digital experiences, stupid advertising spends and suggestions on what to do tomorrow.  A host of impressive smarketers who measure what matters.   Many of these fine speakers are deserved of stock from Google, from Facebook, from their own organizations for being better spokespeople than many an ineffectual media.

Take one of my favorite speakers +Avinash Kaushik delights the audience with a review of Canadiana – providing a little open season on those online experiences – Canadian Tire, Retail Council of Canada, among others that are not up to snuff.

He begins with a Toronto Star article on “Allowing retailers to stay open on holidays” – a story of Toronto council trying to open retail for nine statutory holidays..  “Why open on Canada Day?”  he quips.. and points out online commerce – that stores are already open 24 hrs a day.   Many in the audience are nodding.  Indeed, Canada’s e-commerce business is expected to double to $30B by 2015.

Already – with these opening remarks, I feel like I’m in a room of my own kind – especially when I hear laughs about “hits”,

Thanks to @drafted_boy for phone capture

“impressions”, “clicks” – metrics that mean absolutely nothing but are still well embedded into company vernacular.  I personally correct every individual I meet that uses the term ‘hits’ – as it is my personal indicator that the person knows nothing of analytics and what they speak.

Avinash’s presentation focused on three elements he is quite passionate about..

  1. Influence
  2. Experience
  3. Value

Influence – this is *not* a discussion of Klout.. (whew but of course not..) Influence was the idea of understanding influence at its roots… where do you find the people who spend time and understand your brand?   He then presented the print newspaper ad revenue over the past 100 years – credit, did you catch it?, given to Mark J Perry’s Blog Carpe Diem.  As Mark J Perry describes it – this chart is “another one of those huge Schumpeterian gales of creative destruction”.   Picture a steep climb and, with the last ten years, the drop.

And just where are the budgets moving to?  23% of consumer time spent is on mobile.  The crrrriiime against HUMANITY – as Avinash declared – is that 1% of ad spend is on mobile.   Print with 6% of consumers time spent has 29% of ad spend.  At this point – he is preaching to the converted.  What will happen when the CMOs finally wake up to the massive waste of budget?  I wonder.

“The day I saw this.. was the day I started to pay for the NYtimes” says Avinash.. as the future of print lies in question if it seeks its revenue from ads.

So.. Avinash is back to his passions – how do you find people (nice reference to Google), how do you influence them (brilliant experience), how do you convince people (and a tie to the importance of creating value).

Experience – I wish I could add audio clips to my blog.. imagine Avinash say.. “I am passionate about developing magnificent, brilliant experiences..” and  “I am ashamed on behalf of the internet” “stop the self-orgasms.. always let me [as a consumer] go first [enjoy the experience]”.

His reference is to Canadian Tire’s interrupt survey which appeared during the purchase funnel asking over 258 options before he can buy what he wanted.  Avinash is quite tough on websites, the financial realities Canadian retailers face in funding brilliant experiences is not the same easy street as American retailers face.. still putting a survey in the purchase funnel isn’t a cost mistake, it’s a stupid mistake.

thx to @drafted_boy

Value  – Now onto metrics worth measuring.  Avinash reminds the audience, just because we can measure clicks does not make it meaningful.   Same with impressions and hits.  Stupppid he advises.   What does it tell us of value?  Nothing.

thx to @drafted_boy

Avinash shares his favorite metrics.. bounce rate, a single page visit, is the same as they came, they puked, they left.  He speaks of more.. but what caught my interest was a few new classifications of old favorites

  • Super Awesome metrics (see pix)
  • Share of search:  a brand’s SEM/SEO key term performance versus your competition.  TD Bank got slammed here for Avinash used about 20 different key terms – “small business loan”, etc and TD did not appear in paid nor organic findings.  Avinash shared a print ad for the Bay (I think) for Nautica clothes – yet a google search for the same item was not turning up Bay results.. As Avinash stated  “no.. you are too far down the funnel.. you are ready to buy..”
  • Task Completion Rate:  Interrupt survey to web visitors – presumably not during the purchase process – asking “were you able to complete your task?”
  • Near term, medium and long term metrics:  ensuring a tiered focus to measurement.  A nice reminder

And new for this year, Avinash suggested four new metrics for social activity.

  • Amplification Rate:  no retweets per post,
  • Conversion rate – comments per post
  • Applause rate – no of favorites per post
  • Economic value – value generated per visitor – eg. visits via social referral and conversions assisted by social.

He showed this plotted by social network – so that we might compare the value generated by network.  This is also found in Avinash’s blog post and worthy read “best social media metrics”

All in all, Avinash kicked off a day long focus on the value of data to inform marketing decisions.

Many thanks to Google for putting together such a valued session.

Chatting up video with @guygal

I respect a number of folks in video – @rickwolfe from Poststone combines his art for conversation with video (a specialist in digital conversation – I love that). Mark Campbell from  @vmgcinematic impressed me long ago on the power of video and Mary Hayes from Engage Learn -with whom I worked on some cool e-learning distributed thru social media projects including videos.

And now – Guy Gal. Yes – I do think that’s his name.

@Guygal is one interesting gal’s guy.   Responsible for business development at Biz Media, Guy & company are quick to corner a niche in social video.  i had a coffee meetup with Guy earlier this week and left with my brain excited on video.

First – let tell you about Guy – he’s a hacker gone start-up who comes across passionate and unassuming talking in 140 character insight tweets.   He was one of 10 teams selected to do the  #SXSW Chevy Roadtrip challenge  (bravo) and him & team as team autofollow won it  .  Not hard to see why – check out the team’s thank you video capturing a hungry caterpillar .

Okay – so now some of his talking in tweet gems

“I help liberate video”

On frustration with developers: “you’re developing things that have already been API’ed for you!”

“the play button is the most compelling button on the net”

On planning video content – “online video needs to look like the programming on tv not the commercial”

On using actors in brand made videos:  “lose the actors caus the world is real.  actra puts a 1 year shelf life on your video”.

Measuring social media’s ROI performance and mtg with David Beaton, Custometrics

It is early days in decent social media measurement in both ROI and performance measurement.  The social networks themselves offer little to measure – which is why a meeting with David Beaton, Custometrics to discuss conclusively measuring the impact of social media on brands and business just tickled me pink.   First off – a big thank you to David Ing, a former colleague of mine from IBM who acted as the connector.

At the lovely red rocket café (excellent scones and coffee, free wifi no limits), I spoke of my frustration of not being able to show tangible roi from social media activities.    My last client wanted to see a direct line from social media to the bottom line – which is so hard to do when there are so many other factors influencing the bottom line.   Sure our campaign was successful and the client was very pleased with the efforts – but it was still hard to deal with the desire for a straight line to revenue generation.

This is the kind of tough research and analytics that David’s teams do all the time.  David leads Custometrics, a company that is regularly commissioned to help identify which marketing activities lead to the greatest impacts on brands – thereby adding a significant amount of science to how a marketer should allocate her spending.

David was excellent at explaining what is hard to explain.   Many marketers experimenting with social media have a hard time answering to how effective social media has been compared to other spending.  In the absence of good ROI measurement the effectiveness of social media is not known.  But being unknown is not same as bad or ineffective – it is just that the effects are not known.   Unfortunately – unknown effectiveness might as well be bad as some marketers could default back to traditional and ‘safe’ vehicle choices too early in their exploration.

The other half of the equation here – is getting something worthy of measuring.  If firms are testing social media but not truly understand how create strategies that will make social media work hard – the results will not be stellar.   That’s where I hope to come in. I would LOVE to be the surrogate marketer by playing an acting marketer role creating the digital marketing strategy and execution to fit the marketing and business goals.    I see lots of metric holes and analyzes that if I had access to someone like David – I could really feed.  Drawing a straight line to brand impact and sales volume for instance.  Show lift of baseline.  Separating all other factors from social media to prove success would be a lovely engagement.  I want it and the bigger the better.

I look forward to uncovering the science – I welcome others thoughts here too.

Laurie.

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Related posts from Laurie:

Social media metrics — an earlier post about managing corporate facebook pages.

Measuring for social media

Saw a very interesting discussion on linkedin today.     A project manager asks:  “What are the top 10 metrics for a social media site? I am the project mgr for a company’s new social media platform.”

Great question!  And indicative that social media metrics still need some defining and that common web based metrics (which are still indicators of site success) do not report on the social aspect of a site.  

Within the linkedin responses, Clay Gordon nicely describes the age old need to first define the objectives of the social site – though the goals he described were not ‘social’ in nature, but certainly any site has some kind of end business goal related to revenue and loyalty.

Social goals in my mind can vary – such as improved customer communication, improved customer experience/satisfaction, increased engagement, increased community participation, buzz.    And this can be captured in many ways pending on what type of social media is being used – be that blogs, videocasting, podcasting, uploads, communities, etc.

One metric that would be really neat to track would be the reduced costs by reducing or eliminating high volume, low value customer support [ or conversely – increased customer communication – which could be measured in satisfaction around key moments of truth (mot)].   [a mot is a customer interaction that is very important to a customer] 

This would be very cool to do in the housing /home builder business since there is a very long time between when a house or condo is purchased and when it is delivered.   Most home builders provide ‘legal’ customer communication between purchase, design selection and final occupation.  But these customers are *so* excited to have a new purchase – the opportunity to connect and create an emotional, word of mouth, loyalty is HUGE.    Using social media in the housing section is a great opportunity to continue the emotional bond and excitment from first purchase past the buyers’ remorse stage and into occupation.

So.. here was my response in linkedin:  

“When you say a social media site – I’m assuming there is some kind of community component. Is it internal or external? Blogs? Wikis? Is it a portal with video or podcast downloads? Any uploading? All this would affect which metrics are most important.

Standard web stats – still good for ‘social’ sites:
– unique visitors and watch growth rate over time
– type of visitor (usually limited to new vs. returning)
– source of traffic (direct, referral, paid)
– no. of pages per visit (how much is being consumed)
– time on site (mildly indicative of interaction on site)
– hot pages (top content)
– conversion goals (which can be shopping cart or registration, or something else).
– pathing.

*Social side* Measuring for interaction.
Here, I would be looking for metrics to cover the interaction.
We’ve seen a lot about twitter and its active vs. inactive audiences. [40% who sign on to twitter actually continue]  [okay… add some % for tweetdeck, etc]
I’d want to watch how active the audience is. You define what active is – e.g. return following month after initial month of participation or ‘active in last six months’ vs. total membership. Naturally, the growth in active audience will be important in the success of your platform.
– how much is downloaded and from where if its an internal international social site.
– how much is being uploaded?
– how much is being shared? (noit sure how to track that if not covered in your analytics package).
– for an internal blogs – I’d track bloggers vs. total employee audience e.g. at IBM in 2006, 1% of the company was active bloggers – but that was 3000 people.

Importantly, I’d be interesting in how the business is supporting the success of the platform. In other words, if its an internal tool, how will the business be supporting the adoption and growth of the social platform? Will there be any personal development goals for employees related to the social site? Any mandatory onboarding lessons, etc.

From an international release standpoint (e.g. international social platforms), successful adoption is a bit tricker. The operating systems are different, connection speeds challenged, etc. So your roll-out has to be well planned and social tools robust for multi-language support.

Anyhow – good luck Martha. Sounds very exciting.
Laurie.
laurie@socialwisdom.ca