Posts Tagged ‘Analytics’

As a marketer, you probably daydream about impressing your CEO with unforgettable statistics from your social media campaigns that clearly articulate the ROI. There is a budding business discipline around social analytics, which aggregates and analyzes online conversations and social activity generated across social channels and enables organizations to act on the derived intelligence to drive business results. But how does one get to the ultimate state of social media bliss? To achieve social analytics Zen, you have to marry the yin and yang of social media analytics. Here’s how you can do that.

Learning from External Data: Social Analytics Yin

The path to achieving social analytics Zen begins by analyzing external data. Marketers must analyze industry, competitive and consumer conversations to have a solid understanding of the industry landscape. To properly understand your Yin:

  1. Identify key data sources and determine the frequency with which you’ll collect data: Create a benchmark of what’s currently being discussed at an industry and competitive level.
  2. Separate the information by audience type: You may have several different key buyer segments and corresponding influencers. Identify your keyword set by audience type and perform social listening to determine where digital conversations are happening.
  3. Develop goals by audience: Define what action you want each audience segment to take (e.g. gain awareness of your company, influence others, purchase your product/service, engage with you). Your audience goals should be driven by your overall business goals.
  4. Monitor by audience type: At this point, you’ll have a sense of whom you want to monitor. Create lists of top targets, influencers, and new customers to quickly scan for conversations that may require your participation. Create triggers for specific user intent that is tied to business goals.

While having a finger on the pulse of your industry enables you to understand key industry trends and drivers, this is only part of the story. You also need to analyze data from your own social campaigns.

Learning from Internal Data: Social Analytics Yang

Analyzing internal campaigns allows marketers to continually get smarter, more effective and more productive. As we learned from Travis Unwin, director of media strategies for Awareness partner agency Sitewire, a full service digital marketing and interactive advertising agency you can’t ‘set-it-and-forget-it” when it comes to social media (LINK to Travis’s post). It’s important to learn from your own content. To arrive at your Yang:

  1. Determine your content and platform mix: Test on various platforms to find the right marketing mix for your company. Remember, the goal is to drive new customers to your marketing funnel.
  2. 2.     Measure your successes and failures – Get Granular: Which campaigns performed the best? On which platforms? Which posts or tweets stood out from the highest-performing campaign? Allow these learnings to guide future campaign development.
  3. 3.     Develop benchmarks: Ideally, you’ll want to invest in a toolset that helps you gain intelligence over time. You’ll want a social analytics platform that’s a one-stop destination for social intelligence.
  4. 4.     Incorporate Social Media into your Marketing Mix: Social media shouldn’t be performing alone in a silo. Make your marketing efforts more effective at driving business results by integrating all available channels (email, website, mobile, ads, and social).

Achieving Social Analytics Zen

With the knowledge gained from your social analytics yin and yang, you now have a solid understanding of your landscape. The marriage of the yin and yang (or Zen) is where your external and internal intelligence meets. This happens when you can identify and act on specific sales opportunities. The ultimate measure of Zen occurs in the Social Marketing Funnel, a sales framework we developed to help marketers monitor, identify, classify and respond to prospects and customers in social channels. Research consistently shows that the likelihood of purchase increases when people have a social connection with a brand or product – for example, fans of brands are 51 percent more likely to buy. With 90 percent of all purchases subject to social influence, and 90 percent of consumers trusting recommendations from people they know, marketers need to recognize the social marketing funnel is vital to overall prospecting activity.

It’s time marketers stop collecting data for data’s sake and start it for culling insights. That’s where social analytics comes in. Social analytics is the evolving business discipline that studies social media metrics to help marketers use the findings to drive business intelligence. If you’re new to this, have no fear. Look to the 15 influencers listed below for guidance on the topic. They can help you get started or finesse your approach. Here are the Top Social and Web Analytics Experts to follow (in alphabetical order):

 

Gary Angel, president of Semphonic.  Recipient of the Digital Analytics Association’s Award for Excellence as the Most Influential Industry Contributor.

Don’t miss: 3 Paths to Digital Optimization: Zen and the Art of Enterprise Analytics

Key Takeaway: To get the greatest value from analytics, you need an integrated approach.

 

Connie Bensen, Senior digital strategist at Dell

Don’t miss: Best Practices for Social Media Monitoring ROI

Key Takeaway: Great tips on how to avoid spam and noise: add exclusion criteria to your searches.

 

Keith Burtis, co-founder of MeasureMob

Don’t miss: Getting Started in Analytics From Tape Measure to #Measure

Key Takeaway: Three resources to get you started with analytics.

 

Alistair Croll, principal analyst for Bitcurrent, contributing author to Web Operations, Complete Web Monitoring and Managing Bandwidth.

Don’t miss: Writings: December 2011/January 2012

Key Takeaway: A sampling of Alistair’s thinking, including 2012 trends and how companies should think about big data.

 

Susan Etlinger, industry analyst at Altimeter Group

Don’t miss: Research Report: A Framework for Social Analytics

Key Takeaway: Measure your company’s performance against the Social Media Measurement Compass.

 

Nathan Gilliatt, principal at Social Target, co-founder at AnalyticsCamp, founder at SocialMediaAnalysis.com

Don’t miss: Applying Intelligence and Analytics to Online Statements

Key Takeaway: Insightful matrix of Intelligence/Analytics plotted against Fact/ Opinion

 

Taulbee Jackson, CEO and president of Raidious

Don’t miss: Social Media Analytics – AMA Michiana

Key Takeaway: At the end of the day, you are trying to determine ‘how good is the content?’

 

Avinash Kaushik, digital marketing evangelist at Google and author of Web Analytics 2.0 and Web Analytics: An Hour A Day

Don’t miss: Beginner’s Guide to Web Data Analysis: Ten Steps to Love & Success

Key Takeaway: An excellent getting started guide to web analytics.

 

John Lovett, senior partner at Web Analytics Demystified Inc, author of Social Media Metrics Secrets

Don’t miss: You’re Using the Wrong Social Media Metrics

Key Takeaway: Understand corporate goals, align business objectives, tie metrics to measures of success and then define operational tactics.

 

Jonas Klit Nielsen, CEO and founder of Mindjumpers

Don’t miss: Executive Series: Listening on Social Media is about Insight Management and Analyzing Data

Key Takeaway: Listen first to relevant conversations, then break down the data to relevant insights.

 

Katie D. Paine, CEO & founder of KD Paine & Partners; author of Measure What Matters

Don’t miss: KDPaine’s How-To-Get-Good-Data Checklist

Key Takeaways: Both humans and computers make mistakes, so check your data regularly.

 

Eric Peterson, CEO and founder of Web Analytics Demystified Inc., author of Web Analytics Demystified, Web Site Measurement Hacks and The Big Book of Key Performance Indicators

Don’t miss: Finally! Standards Come to Web Analytics

Key Takeaway: Google Analytics has become the de facto standard for web analytics.

 

Sean Power, data scientist at Cheezburger; contributing author to Web Operations, and Complete Web Monitoring

Don’t miss: Complete Web Monitoring, (O’Reilly, 2009)

Key Takeaway: Learn everything from why, what and how to implement measurement in your organization.

 

Jim Sterne, founder of eMetrics Marketing Optimization Summit and the Digital Analytics Association and author of Social Media Metrics: How to Measure and Optimize Your Marketing Investment

Don’t miss: eMetrics Marketing Optimization Summits

Takeaway: Learn from Jim in person at a summit near you.

 

Marshall Sponder, senior analyst and founder of WebmetricsGuru.com and author of Social Media Analytics: Effective Tools for Building, Interpreting, and Using Metrics

Don’t miss: Lack of Processes (or the Wrong Processes) biggest problem in Social Media Reporting and ROI

Key Takeaway: You need a standard process for measurement.

 

 

To learn more about what social analytics and how you can approach it, consult with our new position paper Social Analytics for Marketing and Sales Effectiveness.

Let’s hear it from you, marketers: Did we list all your top analytics gurus? Did we miss anyone who deserves to be included? Sound off on Twitter, Facebook, LinkedIn and on Pinterest.

This morning Awareness announced a new module for the Social Marketing Hub called the Social Intelligence Dashboard.  The new module is a single solution for measuring all social and non-social marketing activities through one interface.

Why is the Social Intelligence Dashboard both cool and valuable?

Marketers are exposed on a daily basis to an overwhelming amount of data – both from social channels and from traditional marketing tools like marketing automation platforms, email systems, web analytics tools, CRM systems and more. The challenge is how to sift through all this data and figure out what it all means.  This tsunami of data has left many marketers and wondering, ‘what is the value of social media?

This new module gives marketers the ability to create their own reports and dashboards by combining data from multiple sources like Salesforce.com, Omniture and Google Analytics – into one interface providing the details they need to go beyond the standard social media measures like number fans or followers to metrics that provide insights into their social marketing programs.

Deeper Social Intelligence

The Hub absolutely provided some of the insights available in the social intelligence dashboard before.  The big difference the Social Intelligence Dashboard provides is flexibility.  It provides a simple interface to create new reports and dashboards based on business needs and allows you to tie in non-social data to get a clearer picture of your overall social activity.

The new interface allows you to modify out of the box reports while providing the ability to create new one through a simple drag-and-drop interface.

Social Intelligence Dashboard

It also gives users the ability to access, export and manipulate the raw data which provides the ultimate flexibility for brands who want to use a separate 3rd party business intelligence tool to get to the core of their social media activities.

One other cool feature is the amount of export options.  Each report contained with the dashboard can be exported to Excel, Powerpoint, PDF or CSV giving marketers the flexibility to format the data any way they see fit.

Why I’m excited about it?

I’m not only one of the people that sell the Hub, but I am also a user.  I’m excited because in the time we have been utilizing the Social Intelligence Dashbaord – throughout the beta process and beyond – we have already been able to uncover insights that have changed some of our social media activities and how we market our products and brand.  This like really understanding our conversion from social channels to our sales pipeline, who are our influencers and understanding content performance across each channel over time have provided new insight on how we market.  I’m mostly excited to see the impact it will have on all our customers.

Want more details?

You can check out this video and also stop by our social intelligence dashboard demo webinar this Thursday at 3PM.