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ryanseltzer says...

One of the most difficult questions to answer for many business and entreprenuers who are engaging in social media is, "in what ways, and how much is this affecting my business". You need to be able to measure ROI at the end of the day, and it is a more difficult challenge in the new world of social media than it has traditionally has been.

A key point is to have a focus on what you are trying to accomplish when you first engage in social media. Don't just jump in without a plan. Come up with something specific and measurable as an end goal, and make every decision around what you do, what you share, where you share it, etc, based on that.

Once you have established your end goals, take a benchmark of where are currently on those same measurements so you will know where you started. One you have these two points of data, where you started, and where you want to get, then you can begin to measure progress.

ROI may not be in terms of dollars, it may be in terms of followers, reduced call volumes, increased customer satisfaction, or any number of other measures. Dell has used Twitter as a channel for offering "Twitter only promotions" so they can measure exactly how much business they are doing specifically through that channel. What other creative ways can you come up with for using social media for your business that will be highly measureable in terms of ROI?

Filed under: measurement

Before the onslaught of social media, CIO Decisions magazine (no longer in print circulation but still online and now on Twitter @CIOMidmarket) in February 2007 published a great article on the benefits to CIOs and their staff to leverage marketing. You can read the full text of the article online here.

Nearly three years later many of these themes still resonate, and with the explosion of social media IT matters even more. I blogged early this year about one of those key IT relationships -- information security -- here.

Here are some of the excerpts of that original story from 2007 with my comments following:

CIO Decisions: Outside IT, managers forget that the i in IT means information. Many IT departments become so focused on creating and maintaining a technology infrastructure that "they neglect to explain or demonstrate how that technology can collect, analyze, synthesize, package and deliver information,"...

One thing I've always noticed about working with IT professionals is that they do *get* data. There is a real opportunity though for the communications team to show them how to communicate that data and why sharing it matters. Another reason why this is important is that as communication professionals we can learn how a CIO looks at metrics and applies them back to his/her success for the business. We can certainly take that knowledge and apply to our brand and marketing metrics. As social media has become more prevelant and as traditional media becomes an online medium, the problem no longer "what do we measure?" the challenge becomes "how do we measure and manage all of this information?" Working with IT can provide some unique insights from a key business group of your company.

CIO Decisions: Throughout our Habitat research, we have observed that many IT professionals don't understand what marketing really is. As the executive vice president at a global asset management firm observes, "Most people in technology mistake marketing for advertising."

Here is another great opportunity to help brand your company and a key part of your business. CIOs need to better understand the power of social media to position their company and learn from customers. There are also many ways working with IT can create original content for story ideas (e.g., on your next product launch pitch a story about how the product team needed to work with the IT team and do a joint interview). I have found from my experience that once a CIO and his/her leaders see the benefits of positive stories, online comments and internal messaging than using IT as a brand differentiator becomes much easier.

CIO Decisions: The CIO of a midmarket services firm says that basic, in-your-face messaging is powerful. When IT has a successful project wrap-up, for example, an article about the project gets posted on the intranet. "This gets us out to the masses. We want everybody to see what we are doing," he says.

Yes, the intranet remains a great tool, but often stories can get buried. As video technology has become rapidly cheaper to use (e.g. Flip video camera anyone?) the use of video to product online content of IT employees for all employees becomes a great tool. Now think beyond the intranet, and what about your employees using LinkedIn, Facebook or Twitter, to communicate what you are doing? Suddenly moving beyond the intranet easier and more powerful (and measuring the success of these tools helps you to show that IT does matter).

CIO Decisions: The CIO at a global asset management firm concurs, "Marketing is really all about understanding the customer, educating the customer." This executive goes on to make a critically important point: "Part of marketing IT is creating the set of facts upon which executives make technology investment decisions."

Is there really a better focus group today than social media? While you can monitor your brand in real time on Twitter and view comments on blogs and Facebook, there are also many other possibilities for IT leaders, such as a private LinkedIn group for customers to discuss technology issues. We are at a point in time where CIOs can work hand in hand with communications to get a much deeper and broader understanding of customers and how IT can deliver for them.We're not at the point where multi-million dollar decisions are being made based on Twitter posts, but some very basic blocking and tackling can be pursued.

CIO Decisions: Not one technology executive has the word "marketing" in his title, unless he was assigned to the marketing division. Yet there is a growing understanding that marketing IT is something IT people do.

This challenge still exists today outside of firms not in the technology industry. While companies such as Cisco, Intel, Microsoft, Facebook and other invest in their technology brand, this is often a missed opportunity for communicators in other industries. I doubt there are few CIOs today who do not want to communicate at least internally how they are helping either drive business or make the business more efficient. We shouldn't rely on them to be the ones to communicate this either. Check in with your CIO -- or if you're at an agency pitch a CIO-related story to your client -- and talk about communications and how you can help. I think you will be surprised at the reaction you may get.

Filed under: measurement

When I start my social media seminars, one of the first things I cover is defining the goals and metrics for your social media communications plan.

Here is a great video that shares some of the best known case studies on the social web and what the impact of the social media programme has been for their brand, product or service.

What do you measure and track when it comes to social media monitoring?

Filed under: Measurement

@Steveology says...

Mike ManuelDecember 3rd, 2009

Understanding the Big and Small of Social Media Measurement

Measurement_Pie.003

So it seems like a lot of people still get tripped up when it comes to social media measurement, and really, in fairness, there’s good cause when you consider just how many different platforms, metrics and services makeup the average program. Frankly, it’s a friggin mess, but if you don’t understand how smaller (micro) measures work together to calculate bigger (macro) measures of success, then, unfortunately, what you end up doing is fidgeting and fussing with slices of your program, instead of, well, measuring your entire program.

For example, a lot of people tend to think hard metrics like page views, visits, subscribers, followers, fans, blah, blah, blah, *is* social media program measurement. I’ll argue it’s not — that’s simply platform analytics. It’s an important type of micro measurement, sure, but only of the health and performance of a platform, be that your blog, Twitter profile, Facebook page or otherwise. But this data has to roll up into larger measures of success for you to really determine what is and isn’t working for your program. In fact, let me put this another way:

Does it really matter that you have X page views, or Y referral links or Z bit.ly clicks OR is it more important to understand how this data can be used to calculate, say, larger measures of “Market Reach,” “Market Authority,” “Community Responsiveness” and the like?

Now, some folks approach social media measurement differently. They’ll say softer metrics like reviews, comments, tweets, posts, blah, blah, blah, *is* program measurement — but again, sorry, I’ll argue it’s not — that’s simply brand monitoring. And while I think brand monitoring, like platform analytics, is a must-have micro measurement for any program, you have to be clear, again, about how this data rolls up into larger formulas for measuring success. Case in point:

Does it really matter that you have X positive tweets about your company news, or does X, when combined with the conversation metrics Y and Z, help you calculate a more meaningful and accurate measure of “Discussion Volume,” “Discussion Tonality,” “Message Velocity,” and the like?

So, not to over-simplify things, but you can already see that the math of social media measurement begins to boil down to A) figuring out what types of micro measurements you already have in place (really, what types of data you’re collecting); B) pinpointing what additional data types you need (be it from a third-party service, your own digging, etc.); and C). constructing some smart formulas with this data that can map to bigger program needs/bigger program goals — something that will take some time to figure out, trust me on that, but it’s not impossible. I’ll share some sample formulas in an upcoming post.

Alright, so there is one more consideration and I’ll make this my last point (for now):

Let’s say you’re already collecting heaps of data from your analytics tools and your brand monitoring service, it just begs the question: is that enough? And I’ll argue it’s probably not, unfortunately. And that’s because most of the time, people have their heads down using these tools to track and measure their own programs rather than their competitors, and without some sort of ongoing competitive analysis, you have no market benchmark. And without that market benchmark, you have no comparison data for measuring the relative success or failure of your efforts. You’re essentially measuring your program in a bubble. People never want to hear this part, not because it’s hard to understand, but because it’s hard to do. And, well, that’s true, but it’s necessary if you’re really trying to round out any sort of measurement model, be it for social media programs or otherwise.

But with all this said, what you have here, I hope, is at least an initial 3-part stab for thinking about program measurement beyond just the dumb stats and tired models that some experts would rather have you focus on. And yeah, like anything, your mileage will vary depending on how you apply the thinking here, so good luck. I’ll be posting more on this topic over the next few months as Voce rolls out some related case studies and services. More to come.

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Filed under: Measurement

freshpeel says...

Filed under: Measurement

chieftech says...

The problem "is mainly that computer systems are built for the accountants and managers and not built to help doctors, nurses and patients," the report's lead author, Dr. David Himmelstein, said in an interview with Computerworld.

Himmelstein, an associate professor at Harvard Medical School, said that in its current state, hospital computing might modestly improve the quality of health care processes, but it does not reduce overall administrative costs. "First, you spend $25 million dollars on the system itself and hire anywhere from a couple-dozen to a thousand people to run the system," he said. "And for doctors, generally, it increases time they spend [inputting data]."

Himmelstein said that only a handful of hospitals and clinics realized even modest savings and increased efficiency -- and those hospitals custom-built their systems after computer system architects conducted months of research.

This is a quote from an interview by Computerworld with one of the authors of a research paper published in the American Journal of Medicine on the impact of IT on the delivery of health care in the United States.

Their conclusion, based on the data: not much.

However, I think there are some hints here about the root cause of the problem:

  • Don't expect benefits from systems built as a means to an end;
  • Build systems to fit the people, not the other way around; and
  • Real ROI data takes time and effort to gather.

This is also all very interesting when you consider my recent posts about measuring the value of Enterprise 2.0 versus the clear and obvious bottom line benefits of three-letter acronym systems... because it sounds like these health information systems were sold on the same sort of 'hard' ROI numbers.

Hat tip to Nicholas Carr.

Filed under: measurement

life2k says...

Some really good helpers:

http://textop.us/

Filed under: measurement

freshpeel says...

Filed under: Measurement

stevesponder says...

 

2009-12-01_1133

After reading a huge amount about social media measurement over recent months I thought I'd add my five pennies worth to the conversation. What follows is a 7 step process for helping brands put in place a robust social media analytics strategy.

1. The first consideration is whether the conversation has been started by content produced by the brand or the community. This is important as it will have an impact on the approach and some of the specific actions as we move through the process. 

So to give some context to this, brand initiated could be a video uploaded to YouTube or a blogger out-reach programme. Community initiated conversations could be the beginning of a crisis or the start of a positive groundswell response to your new product launch.

2. For brand initiated activity, clarifying the objectives may reflect a tactical approach (increase the number of Twitter followers) or a more strategic one (build our brand influence). For community initiated conversations the objective could be to identify how social the brands' marketplace is or maybe to protect the brands reputation.

3. With the objectives clarified it is now a lot easier to identify the appropriate metrics which when measured will tell us if the objective has been met. It is important for clients to understand the options and complexities around different metrics by exposing them to all the choices available together with the pros and cons of these. To help our clients we have a metric toolkit which includes 50-odd different metrics across 4 key categories.

4. For brand initiated activity we can now set some targets. Obviously, the more social media activity you have under your belt the more data you have to set realistic targets.

5. Active listening is the term we use to cover social media monitoring, measuring, tracking, alerting and data-mining. So, with the appropriate metrics identified we can then select the right monitoring tool and implement our active listening plan. 

Interestingly we estimate that the commercial social media analytic tools (SMATs) can only measure circa 50% of the possible metrics within our toolkit and therefore need to be augmented with other grassroot tools. 

6. For brand initiated conversations this is the point at which we can start the activity or programme.

7. Lastly, we actively listen based on the plan and the brand would respond in accordance with the engagement policy. 

This process has evolved over the last year as the SMATs have evolved and as I read and digest others blog posts and whitepapers although at the moment it is serving us and our clients well.

Filed under: measurement

chieftech says...

You might think from recent posts that I don’t believe in measurement, particularly when it comes to measuring enterprise social computing projects. In fact, I do believe in measurement but also believe that measurement should be treated in a (organisationally-speaking) political context.

 

I’ve also noticed a quantum-like quality to cause-and-effect in organisational measurement - the helicopter view reported to the board often appears to bare little resemblance to the experience of staff on the ground. I don’t actually think there is anything quantum about the enterprise - its just that ‘organisations’ are complex systems. This simply makes it difficult to measure in absolute hard numbers anything that impacts on that system, unless you are prepared to invest in longitudinal and solidly scientific research methods.

 

The worst examples of this are systems that promise employee self-service but simply shift the transaction burden from a cost centre (where it is measurable) to the individual (where it is not measurable).

 

For example, if you are trying to justify the value of an intranet then time saved should be a great metric. However, it depends on how you value employee time and the actual impact on the organisation of time wasted searching for information. In many cases, this waste is invisible - people just end up working harder to make up for deficient systems. 


So, if measurement is important what should we measure?

 

Wrong question. More on this another time.

Filed under: measurement