Measuring The Impact And ROI Of Social Media - Lee
Measuring theimpact and ROI ofsocial mediaLee Hopkins and Anne Bartlett-Braggiii
ContentsExecutive summary. VAbout the authors . VIIChapter 1: Assessing the power and impact of social media . 1By Lee HopkinsWhy has social media become so powerful? . 1The Cluetrain Manifesto . 4Why measure social media? . 5The RRISC model . 7The negative social world . 8Summary . 8Case studies: Social media in action . 10Chapter 2: Linking social media to business objectives . 13By Lee HopkinsSales . 14Customer service . 15Human resources . 17Public relations . 18Business intelligence . 19Conclusion . 22Chapter 3: Setting a social media strategy to achieve business objectives . 23By Lee HopkinsBefore you start formulating a strategy . 23Five Ws and an H – A workbook. 23The Five Pillars approach . 30A social media strategy formula . 33Creating a social media strategy document . 39Why even have a strategy? . 39The benefits of a customised social media strategy . 40Case studies: Social media use that supports business objectives . 41Chapter 4: Identifying the appropriate metrics to use . 47By Lee HopkinsiV
ContentsMeasurement programme checklist . 47What you can measure .49Google Analytics . 51Sentiment analysis . 53The marketing–sales relationship: FRY .54Summary . 57Chapter 5: Aligning dashboards with social media objectives . 59By Anne Bartlett-BraggIntroduction . 59What is a dashboard? . 60Anatomy of a social media dashboard. 60Monitoring . 61Case study: Using social media dashboards at an international airline . 62Engagement . 63Examples of social media dashboards . 64Analytics . 66What to measure? .67Workflow integration .68Chapter 6: Reporting outputs from dashboards – From clicks to insight . 71By Anne Bartlett-BraggSentiment . 72Influence . 72Future directions – What’s next? .74An interview with a social media practitioner .75Chapter 7: Managing change when introducing social media . 79By Lee HopkinsPlanned and unplanned change . 79Forces of change . 79Cultural change . 79Technological change . 80Change leadership . 80Phases of planned change . 82Planned change strategies . 84Organisational innovation . 86Social media and change . 86Conclusion . 87A cautionary word on case studies .88Afterword . 91Index . 93iii
Executive summaryTHE DAYS of “Will social media work for us?”,“How do we use it?” and “Who will do thisfor us?” have gone. Today, any organisationthat is client-centric, innovative andcompetitive considers social media as a partof core business strategy. Social media hasbecome a business necessity. It is being usedto communicate, to generate business, torecruit, and to network; it’s now ingrained inorganisations as a fundamental part of allstrategic initiatives.But how can you tell if it is reallyworking? You might have some peopleliking you on Facebook, or have a millionpeople following you on Twitter, but areyou tracking how effective each update is,or how far your tweets are reaching?What about mobile apps – they are easyto create but how does an organisationmatch the consumer use of apps to businessobjectives? And just who is responsible formanaging the return on investment (ROI) ofsocial media?With a strategic focus, this reportprovides organisations at all stages ofsocial media use with the tools needed tomeasure success in business terms, fromthe effective use of manpower/time, andbenchmarking individual campaigns,through to performance metrics for eachunique social media platform. The reportwill show that social media ROI is morethan just saying, “We grew 1,000 fans thismonth”; it’s saying why it is important thatwe grew 1,000 fans, and what the businessoutcome is of such growth.ViChapter 1 explores the essentialbackground to social media and explainswhy measuring and analysing social mediametrics is so important to the success of anysocial media programme.Chapter 2 helps the wise reader choosewhich business objectives of the organisationsocial media can help meet. Withoutunderstanding the importance of tyingsocial media progress to real-world businessobjectives (financial and non-financial) anysocial media programme is destined tofailure. The chapter examines in particularhow social media can support objectives insales, customer service, human resources,public relations and business intelligence.Chapter 3 looks at how to set socialmedia strategy now that businessobjectives have been identified. Two helpfulapproaches are outlined, in a workbookformat, that will enable any organisation toidentify the best path to follow, to ensureobjectives are met and outcomes achieved.The chapter also includes a wide-rangingseries of case studies that illustrate howorganisations have deployed social media tosupport business goals.Chapter 4 looks at which metrics shouldbe tracked in order to determine theprogress of the social media programme. Anextensive list of possible measurements issupplied, by platform, but the emphasis isplaced on each individual organisationassessing which metrics will be mostappropriate to measure success against thestated business aims. Google Analytics and
sentiment analysis are discussed, and theFRY (frequency, reach, yield) approach tobusiness metrics analysis is explored.Chapter 5 addresses how to understandthe capabilities of social media dashboardsand align these to the identified social mediaobjectives, which will be critical in theselection of appropriate software platforms.A case study is included to illustrate howdashboards have been implementedwithin an organisation and how valuableinformation is being gained that can becommunicated to the business.In Chapter 6, a review of usingdashboards to report social media analysisis approached from a business or socialintelligence perspective, progressing theuse of analytics dashboards formeasurement into reports that informinsight. That is, using the results to providebrand insight which can inform futureproduct or service directions andhow best to leverage social media activitiesto enable those directions. In addition, therole of a social media analyst is discussedand an interview with a current practitioneroffers a view of the importance andfuture direction for this type of role in theorganisational structure.Chapter 7 considers the all-importantissue of change management. Introducinga social media programme into anorganisation will create change, and as weall know, change scares people, from theCEO down. Therefore, managing how theorganisation and the executive approachsocial media, and managing theirexpectations of what a social mediaprogramme can deliver, is essential to theprogramme’s success.An afterword wraps up the reportand offers suggestions as to wherereaders can go for further advice,guidance and knowledge.Packed with practical tips and real-worldinsights, this report is essential reading forany organisation which wants to ensurethat time and money spent on social mediaactivities are reaping real business benefit.V
About the authorsLead author – Lee HopkinsLee is the CEO of Better Communication Results, a consultancy that has assisted companiesworldwide to communicate better for better results. He has consulted to a range of organisations,from the medium sized up to the multi-national. He is the author of two previous Ark Group bookson social media.Contributing author – Anne Bartlett-BraggAnne is Managing Director at Headshift Asia Pacific. She specialises in the creation of innovativecommunication networks with social media. She uses her research and studies into thecommunication aspects of social media, including deep analysis and social intelligence, to providean informed backdrop to understanding how people are using new tools and changing traditionalmodels of communication. She constantly challenges organisations to reframe their models ofcommunication, service design, and workforce engagement.Anne is currently in the final stages of completing her Phd which has explored adult learners’experiences of developing learning networks through self-publishing technologies such as weblogs.Vi
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Chapter 1: Assessing the power andimpact of social mediaBy Lee Hopkins“Just as the telephone, email and mobilitycould not be held at bay by companiesreluctant to accept change, social mediacannot be ignored either.”Olivier Blanchard, Brandbuilder.comSOCIAL Media did not just drop out of thesky; the social force you see before yougrew from a tiny seed sowed in the 1990s.From humble beginnings with a very smallcommunity, social media has now grown toembrace the globe.I could rattle off statistics here showinghow big the social world has become, butthat would be a waste of your time. No onethese days is in any doubt that the socialworld is the pre-eminent, dominant force forsocial interaction in the western world. If youare in need of statistics, then please headto Socialnomics.net, the excellent websitebuilt by Erik Qualman. Qualman released avideo in 2011 that neatly summed up thestate of the social web at that time – youcan find it and the background statistics atbit.ly/JoPqud.Why has social media becomeso powerful?In order to understand why social mediahas become such a pervasive force withincommerce and general society, considerthe way that companies have traditionallymarketed their wares to consumers. Whetherby radio, television, billboard or print, thedialogue has always been one-way, thecompany pushing out the message and theconsumer the passive recipient. The onlypower the consumer had was to either payattention to or ignore the message being‘shouted’ at them.This type of marketing was called‘interruption marketing’1 by marketing guruSeth Godin: interrupting people whilst theyread a newspaper or magazine, whilst theywatched TV or listened to the radio, whilstthey looked at the city or rural skyline.It was easy to see why marketers werehooked on interruption marketing: It was easy. Create a few adverts, runthem everywhere. It scaled. Need more sales? Runmore ads. It was predictable. With some experiencea marketer could tell how much additionalrevenue could be expected for everyadvert run. It fitted the ‘command and control’culture of large organisations. It wastotally controlled by the advertiser. It was profitable. Given the right product,it cost less to advertise than the profitthat could be generated.But the party, which lasted generations,couldn’t last forever. Respected digital brandstrategist Olivier Blanchard puts it best:2“After decades spent enduring thousands ofdaily marketing messages being shoved at1
Chapter 1them across every communications channelknown to man, the public found in thesocial web a means of turning themessaging off and turning instead to whatmattered to them more: relationships, trustand conversations.”Indeed, trust is one of the foundationalpillars of the social world. Along with truth,transparency and accountability, it forms thefour foundations of the online world – what Ilike to call the ‘Three Ts and an A’. Let’sexamine them in closer detail.TruthIf you consistently speak the truth in yourconversations (be those conversations ledby you or by your employees), then overtime you will gain the trust of yourconversational partners.Of course, truth is a flexible beast, andthere are limits to how much of the truth canbe released at any given moment. But theinhabitants of the social media world aremore likely to believe in your integrity, andthus believe in your words, when you openyourself up and say what is on your mind.Naturally, you can stop short of ‘the wholetruth’ if that truth includes ‘commercial inconfidence’ material, or material sensitive toa third party, but the inhabitants of the socialmedia world are no longer satisfied withcompanies who hide behind endless ‘wecannot tell you’ statements, and make theirdissatisfaction known, sometimes to a verywide audience.The secret to good social media relationsis to engage with others as you would hadyou met them at a barbecue at a friend’splace. Meet them with patience, toleranceand honesty as much as you can and you willbe rewarded accordingly. If they point out anarea where your company could makeimprovements, acknowledge that2and gracefully ‘take it on the chin’; thatimprovement could be the one that cascadesand helps your organisation to leapfrog toa new level. If you have the organisationalpower to enact that improvement, do it andlet the person who suggested it (or people ifmore than one person suggests it) knowthat you have and what the outcome hasbeen/is expected to be. If you don’t have theorganisational power to enact the suggestedimprovement, make sure that the idea isforwarded to someone who does, and letthose who made the suggestion know thatyou have forwarded the idea on. Ideally,you would let them know to whom youforwarded the suggestion, but that may be astep too far for the organisation in its earlydays of social media engagement.Either way, if you can show that youhave acted consistently over time to deliverthe truth, as openly as you can whilst beingmindful of commercial confidences, you willbuild up reputational trust in your audience.Break that trust and your digital reputationtakes a beating; the bigger the break thebigger the beating.Trustdespite mainstream press commentary to thecontrary, the inhabitants of the social mediaworld (that is, most of your organisationand most of the world outside of yourorganisation’s front door) don’t set out to bedeliberately difficult and nasty.People have a tendency to reactto something (an event, a person, anorganisation) in the same way that they arereacted to. Like meets like.Therefore it makes sense to build a senseof trust into your conversations, a trust thateveryone in the conversation will treateveryone else with respect.As an organisation amongst cynicalcitizens, you must be first to trust in the
Measuring the Impact and ROI of Social Mediaintentions and goodwill of others, even if youfear otherwise. In controversial situations andtimes, there will no doubt be some anger andangst expressed against the organisation, oragainst those who engage with the public ortheir employees via online channels, but theorganisation should still engage from aposition that trusts that the goodwill willreturn and that commonsense will prevail.Only ten per cent of the readership willcomment, but the remaining 90 per cent willbe watching very closely to see how youreact, looking for signs that you are behavinglike a good corporate citizen. Trust in theirability to influence their peers in ways thatyou cannot control, nor sometimes evenwitness.TransparencyMuch as there are limits to how much‘truth’ you can deliver at any one time,so too there are sound reasons why anorganisation might want to limit the amountof information it shares with its variousstakeholders. Issues of legal disclosure, thirdparty commercial sensitivity, strategicdirection, inter alia mean there aresometimes conversations that have to be cutshort at the ‘sorry, but we cannot talk aboutthis at the moment’ stage.However, online conversations in this newsocial media landscape should be conductedwith as much transparency as possible.Thus, employees who are engagingin conversations within the social mediaspace should be named. For example, aTwitter account with the name XYZCorpshould have, somewhere in the biographysection, the real name of the employeemanaging that Twitter account. Or if there isa customer service team blog, the names ofthe bloggers should be given.If your organisation is one thatrepresents others you should always publiclyacknowledge that relationship. Thus, in yourtweets, for example, when talking aboutsomething one of your clients has done, oryou are asking them a question, preface orend your tweet with ‘[client]’: “@rhsa CEO[client]: What is the state of the housingmarket this month?”If you are blogging or talking about aclient or supplier in a video or podcast,make sure you let your audience know thatyou have a relationship with that namedorganisation or person.Should you decide to hide theserelationships, sooner or later they will becomecommon knowledge (the internet, and socialmedia in particular, is particularly good forfinding out the stuff that some prefer remainshidden) and your or your organisation’s digitalreputation could take a beating as a result. It isbetter to be open and honest about theserelationships from the outset, that way no onecan accuse you of hiding something.AccountabilityGoogle has a long memory. Words and actionsthat you take today may come back to hauntyou in six months’ or six years’ time.Therefore, it makes sense, as has beendiscussed above, to be truthful, trusting andtransparent whenever you engage in onlineconversation. But equally you hold yourselfand your employees accountable for whatyou say, even if what you say changesover time.The time has long gone when politiciansand others could say, “you quoted me out ofcontext.” With the ubiquitous presence ofdigital capture technology comes the abilityto find the entire context for oneself, so thatthe previous excuses no longer wash.However, that doesn’t mean that anorganisation, or indeed a person, cannotchange its mind over time. Naturally, asnew events and information come to light,3
Chapter 1as circumstances change and unfold, evendeeply-held beliefs can be modified orturned 180 degrees. Organisations are nodifferent from human beings in that regard.Social media conversations shouldalways be conducted in a human voice nota corporate one, between human beingswho allow themselves and each other tochange their minds. Therefore, as long asan organisation doesn’t back away froma previously stated position but insteadacknowledges it and then goes on to explainwhy the position has changed, including linksto the information that shaped that changeof position, then the organisation hasnothing to fear.That is not to say that the organisation willnever be criticised. Of course it will; there willalways be malcontents and the disappointedonline – just as there are malcontents and thedisappointed offline too – but their numbersand influence will be small.As an example of accountability inpractice, consider an employee who blogs onthe company’s behalf and has responded to acomment on a post, saying that they will lookinto the matter raised and get back to thecommenter.That employee is now accountable to dojust that and should they fail to do so theyshould be questioned as to why they failedin their duty. Similarly, if the organisation(through one of its employees) says that itwill pass on a particular piece of informationto a relevant department (or, preferably,person) then the organisation is accountableto do so. Should it become known, later, thatthe organisation failed to do what it said itwould, the organisation’s digital trustreputation will take a hit.Three Ts and an A: The outcomeAs long as the organisation, and itsemployees who engage with social media4on its behalf, are truthful in theirconversations, trusting of the goodwilland good intentions of those otherconversationalists, transparent in therelationships they have with third partiesand accountable for what they say andpromise, the ethical organisation shouldhave no fear of engaging in the socialmedia landscape.The Cluetrain ManifestoAs discussed under ‘Accountability’ above,the best conversations in the social worldtake place with a human voice, not the voiceof corporate spokespeople or lawyers. Thatis not to say that lawyers and corporatespokespeople cannot speak in a humanvoice, but that historically theirs is acorporate, legalistic voice, the tone of whichis anathema to the social world.This shift in ‘voice’ was pointed to backin 2000 when four thinkers – Rick Levine,Christopher Locke, doc Searls and davidWeinberger – wrote 95 theses about the newonline communication landscape and howbusinesses should approach it. The theses,95 short sentences or mini-paragraphs,outlined how business needed to change inresponse to the global and powerful natureof the internet.They posted their theses up on awebsite – Cluetrain.com – and invitedthe world to comment and sign up totheir manifesto. Thousands of people did,including not only individuals but corporatevoices too. The website is famous for beingthe first website to be made into a book,The Cluetrain Manifesto.3 You can still visitthe website to read the 95 theses, and youcan buy the tenth-anniversary edition of thebook that comes complete with additionalthoughts and ideas about how businessesmust change if they are to survive in the 21stcentury.
Measuring the Impact and ROI of Social MediaHere’s a sample of the theses: “Markets consist of human beings, notdemographic sectors.” “Conversations among human beingssound human. They are conducted in ahuman voice.” “Whether delivering information,opinions, perspectives, dissentingarguments or humorous asides, thehuman voice is typically open,natural, uncontrived.” “People recognise each other as suchfrom the sound of this voice.” “The Internet is enabling conversationsamong human beings that were simplynot possible in the era of mass media.” “There are no secrets. The networkedmarket knows more than companiesdo about their own products. Andwhether the news is good or bad, theytell everyone.” “Corporations do not speak in thesame voice as these new networkedconversations. To their intended onlineaudiences, companies sound hollow,flat, literally inhuman.” “Companies that assume onlinemarkets are the same markets thatused to watch their ads on televisionare kidding themselves.” “Companies that don’t realize theirmarkets are now networked person-toperson, getting smarter as a result anddeeply joined in conversation are missingtheir best opportunity.” “Smart markets will find suppliers whospeak their own language.” “If you want us to talk to you, tell ussomething. Make it something interestingfor a change.” And the ‘bumper sticker’ version: “There’sa new conversation between and amongyour market and your workers. It’s makingthem smarter and it’s enabling them todiscover their human voices You havetwo choices. You can continue to lockyourself behind facile corporate wordsand happytalk brochures. Or you can jointhe conversation.”It’s amazing how prescient those theses were.Now that Facebook seemingly rulesthe online world, the need to engagewith audiences in a human voice, not acorporate one, is more important than ever.I get asked many times at the workshopsand seminars I run how a business can buildan audience. The answer is simple: beinteresting and interested. It’s simpleconversational etiquette: the more interestedin others you are, the more they will come tosee you as a friend, not a foe.As Edward de Bono says in How to bemore interesting:4“It is what happens in your mind thatmakes you interesting. It is how youexpress what happens in your mind thatmakes you interesting. It is what youcause to happen in the mind of a listenerthat makes you interesting.”Find out about your audience’s fears, theirfrustrations, their failures, their successes,their dreams, their day-to-day experience.The more you know the more you can tailorsomething to help them achieve more orsolve their problems.They’d be willing to pay you for that.Why measure social media?For many years there was a long-runningdebate amongst u
unique social media platform. The report will show that social media ROI is more than just saying, We grew 1,000 fans this month _; its saying why it is important that we grew 1,000 fans, and what the business outcome is of such growth. Chapter 1 explores the essential background to social media and explains why measuring and analysing social media
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of anything that provides value. However, how one would calculate social media ROI is not always obvious. A study by Lenskold Group assessed social media ROI measurement best practices compared to traditional marketing ROI measurement. This study found less than 20% of marketers feel they can measure social media ROI (see Figure 1). Figure 1 .
