Measuring Social Media: Suffolk University Sawyer Business School - Presentation Nov-13-2010

Growing Ears; Measuring Voices

Wayne KurtzmanTwitter: @[email protected]: www.BeyondThe.Biz and www.MediaBullseye.com

(c) 2009-2010 Wayne Kurtzman, BeyondThe.Biz LLC, 3rd party Trademarks retained by original owner.

Social Media Measurement

Suffolk UniversitySawyer Business School Boston, MA.


Speaking About Social Media


Speaking About Social Media

About Wayne

Sustenance Farming

• Storytelling

Agricultural Revolution

• Economies Develop

Industrial Revolution

• Engines• Manufacturing•Movement• Education• Media

Knowledge Economy

• Democratized Media • Mobile• Shared Content• WOM on Steroids

- Karl Fisch

Image: en.academic.ru

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 160.00E+00

5.00E+04

1.00E+05

1.50E+05

2.00E+05

2.50E+05

3.00E+05

3.50E+05

“We Live InExponential Times”

Time To Reach An Audience of 50-Million

110 Years (~1559)

38 Years

13 Years

3 yrs

2 Years

“Social Media Is a Fad!”


“It’s a fundamental shift in how we communicate” -Marta Kagan


“The Internet is Not (Just) A Medium…

- Jeff Jarvis

There Must Be a fundamental shift in how we Measure” -Wayne Kurtzman



TheInternetIs A

PLACE

To meet, learn, act, react and transact.”

Reachable by computer or mobile internet

You Can’t Measure

Meeting In A

The Same Way We Measured

According to Scott Stratten (@Unmarketing)in his BlogWorld 2010 Keynote… Art by Rob Cottingham @RobCottingham)

Source: http://www.blogworld.com/2010/10/14/toonblog-opening-keynote-scott-stratten-and-unmarketing/

In Fact When You Say ROI…In Fact . . .


Conversations Do Not Generate Income

Courtesy: http://farm4.static.flickr.com/3037/2574628438_34acc2840f_b.jpg ; Some rights reserved by

Ed Yourdon (c) 2009-2010 Wayne Kurtzman, BeyondThe.Biz LLC, 3rd party Trademarks retained by original owner.

http://farm4.static.flickr.com/3037/2574628438_34acc2840f_b.jpg

http://creativecommons.org/licenses/by-sa/2.0/

http://www.flickr.com/photos/yourdon/

OK. SOMEConversationsDoGenerateIncome.

Courtesy: http://farm4.static.flickr.com/3521/3831560299_1a47b3c9fd_o.jpg Creative Commons Some rights reserved by Kevin

http://farm4.static.flickr.com/3521/3831560299_1a47b3c9fd_o.jpg

http://farm4.static.flickr.com/3521/3831560299_1a47b3c9fd_o.jpg

http://creativecommons.org/licenses/by-nc/2.0/

http://www.flickr.com/photos/kevincollins/

Relationships Build Income

Courtesy @HelloDirect(c) 2009-2010 Wayne Kurtzman, BeyondThe.Biz LLC, 3rd party Trademarks retained by original owner.

Relevant Content is Still King!



http://www.personalizemedia.com

http://www.personalizemedia.com/

http://www.personalizemedia.com/

http://www.personalizemedia.com/media/socmedcounter.swf


Where Do You Start?

Courtesy: http://www.flickr.com/photos/striatic/2134277399/sizes/o/

91% of B2B Technology Decision Makers Consume Blogs and Social Media Content

90% Of The Voices Are NOT on Twitter


Where To Measure. But First… Define Your Goals

Monitor the Voices

Define Engagement …and the Terms of Engagement

Measure the Business

Measure Savings from Collaboration(c) 2009-2010 Wayne Kurtzman, BeyondThe.Biz LLC, 3rd party Trademarks retained by original owner.

Define Your Goals

http://icanhascheezburger.com

These ShouldAlign WithYour Corporate Goals


Monitor the Voices


Grow Ears!

Free Twitter Ears

Tweetgrid Twitterfall Topsy Social Mention Boardreader Hootsuite Tweetdeck Tweetstats Twitteranalyzer Twitalyzer Trendistic


Grow Ears!

Paid Ears

Radian 6 ScoutLabs AwarenessNetwo

rks Trackur VisibleTechnologi

es


Define Engagement Metrics


Not All Branding Works


Measure:Numbers Speak Louder Than Words


Forrester Blog: Social Media Marketing Balanced Scorecard

Financial: Has

revenue or profit

increased or costs

decreased?

Digital: Has the

company enhanced its owned

and earned digital assets?

Risk Management

: Is the

organization better

prepared to note and

respond to attacks or

problems that affect

reputation?Brand: Have

consumer attitudes about the

brand improved?

http://blogs.forrester.com/augie_ray/10-07-19-roi_social_media_marketing_more_dollars_and_cents

New Analytics Model: The Individual

Social Media

CRM

Biz Intel

Psycho-

graphic


New Analytics Model: The Individual

Social Media

CRM

Biz Intel

Psycho-

graphic

Specific Attitude, Opinions, Activities,

Values

Stockholder?

Potential issues, history

Home teams,

hobbies, personality

types

Buying history, GM,

Lifetime value, AOV, number of contacts,

etc.(c) 2009-2010 Wayne Kurtzman, BeyondThe.Biz LLC, 3rd party Trademarks retained by original owner.

Content

Finance

Marketing

MFG

Sales

Support

IT

Eng’ring

Training

•$ / hour

•$ / sale

•Revenue / GM / GP

•Costs

•Spend

•Market Share


Content

Finance

Marketing

MFG

Sales

Support

IT

Eng’ring

Training

Customer

Content


COLLABORATION

IS THE NEW

MANUFACTURING


The Business Case

Expenses Revenues Activities Metrics Loyalty Impressions Share of Conversation Retention “Saves”


Relationships Build Income

Relevant Content

Relevant Measures

Correlations of Confidence

Reuse of ContentCourtesy @HelloDirect


Growing Ears; Measuring Voices

Wayne KurtzmanTwitter: @[email protected]: www.BeyondThe.Biz and www.MediaBullseye.com


Social Media Measurement

Suffolk UniversitySawyer School of ManagementBoston, MA.

Why Follow a Brand on Twitter?

http://www.marketingprofs.com/charts/2010/3827/active-twitter-users-most-influential-online-consumers


Twitter influence.

http://www.marketingprofs.com/charts/2010/3827/active-twitter-users-most-influential-online-consumers


Women 35-54 are the largest user segment of mobile social networks.

70% - 25-54 16% - 18-24 7% - 13-17

Mobile Social Media Usage

Source: Nielsen – http://blog.nielsen.com/nielsenwire/online_mobile/for-social-networking-women-use-mobile-more-

than-men/ (c) 2009-2010 Wayne Kurtzman, BeyondThe.Biz LLC, 3rd party Trademarks retained by original owner.


66% of All U.S. Online Adults Are On A Social Network


http://theconversationprism.com/1024/