Turning News Into Knowledge

Last week I was at the Third Tuesday kickoff event in Toronto. Joe Thornley did an amazing job putting a great agenda and excellent panels.  The one day seminar, titled Social Media Measurement Matters, focused on latest thoughts, tools and most importantly, metrics relevant in social media measurement.

I was in the panel discussing, “How to set-up your social media command centre.”  Moderated by Martin Waxman, we discussed the different aspects of setting up command centre. Be it the intricacies of keywords or the technical tools that are needed to support your monitoring program.

In my talk I focused on what is the conceptual framework we need to create a robust monitoring command center. This blog summarizes the essential elements needed to set-up your social media monitoring command centre.

Based on the studies of successful campaigns in social media and from my own experience with clients, I believe that the single most factor contributing to their success is their belief in the power of social media. They believe that social media is critical to their company’s or brand’s success and they dedicate money and resources to it because they believe it is worth every penny and ounce of energy spent on it.

Your belief in the power of social media is the very foundation upon which you will set up your Social Media Command Centre. That thinking is going to motivate you to approach the set-up and running not as a piece meal or responsive unit but as a strategic unit.

Now that we have the foundation in place, what are the pillars we need to put in place to sustain our command centre? There are three important pillars that we need.

• Understanding the needs. Each audience will have a unique set of requirements.
• Setting up the goals, processes and resources to effectively monitor and measure both goals and results.
• Delivering customized outputs that meet the identified needs.

Set-up your needs pillar by asking the basic questions. The questions you ask are important because your questions will define your framework including your goals, processes, resources and outcomes.

Ask around your questions, who wants them, why do they want it, what they will do with it, what are they trying to achieve with it, how will they access it, how often will they access it and very important, what is their comfort level with technology.  Ask them well, ask them from everyone, ask them again and again and make sure you have good answers, and make sure you understand these answers well, because in answer to these questions lies the success of your efforts.  Because only when you understand the needs, you can create customized solutions to meet their needs.

Which brings me to the next important point, how important it is to create customized outputs? And the answer is VERY Important.   I cannot emphasize enough how important it is to create outcomes that are customized.

The requirements of a VP, a CEO, A junior staff, a community manager, a product manager, a marketing manager, an HR manager are very different. They have different constraints on their time, they make different decisions and hence they need different information.

Customization sounds like lot of work but we have some very good products that can with minimal effort offer these customized solutions. We at MediaMiser thrive on that concept. It might appear more work but that’s more apparent than real. It’s totally worth it and it also brings to fruition all your work till this point. If you don’t take that one last step of creating customized products you risk losing all your good work so far.

When your audience gets a customized product to their needs, it makes them more efficient and focused on their objectives and then they value what you have to offer to them. They become dependent on you for their success, and then they will support you in your quest for resources and money.

So, take a look at your social media command centre and see if it has the right foundation and pillars in place. Let’s not add another blogger or tweeter to our monitoring because they wrote a negative or positive piece, and let that not be the sum of our social media strategy. If you have the right foundation and pillars then that blogger, should it be relevant, will automatically fit in your framework and that is how you want to approach each piece in your monitoring framework, not by accident but by plan.

How do you run your social media command centre? I am interested in hearing from you.

Today there are far more “influencers” than ever before. An influencer is simply someone with an audience who can influence the buying behaviour of that audience. The ultimate example is Oprah—when she endorses a product or service, millions flock to it.

As magical as that would be for any business, it’s definitely not easy to be endorsed by Oprah. The good news, however, is influence isn’t just for celebrities anymore. There are hundreds and likely even thousands of influencers blogging and on social networks who can get the word out about your product or service and in a beneficial way. Think of it as an extension of media relations.

However, it’s not exactly like media relations—influencers usually aren’t journalists, and many don’t take nicely to an unsolicited pitch. So how can you reach influencers and get a positive return? Here’s a few pointers:

• Make sure it’s the right influence: Don’t be fooled by numbers—these days people can build up large numbers of Twitter followers, but still not carry a lot of influence. Influence involves a lot more than big numbers. Google the person, find out what others say about him or her and most importantly make sure his/her audience is relevant to what you do!

• Forget pitching, build real relationships: If the influencers you’re targeting are involved in your industry, you should have no problem finding common ground. Invite them for coffee, seek them out at trade shows, stop pitching and take the time to really get to know them first!

• Create a spark: When people talk about products they really love—it’s obvious and that passion is what attracts others to follow suit. So instead of asking an influencer to talk about your product, consider giving him/her access and guidance. Hopefully she/he will fall in love and want to talk about it. Also, look to your existing user base for influencers, if they’re already there and in love, approach them about making the love more public and offer to help.
  

• Be weary of paying for influence: Many do, and I’m not saying it can’t be a successful strategy, but know what you’re getting into first. Last year, the FTC passed a law stating that bloggers are required to disclose payment or other perks received from companies. The reason for this is because readers are less likely to trust an endorsement if money is involved (and probably rightly so). If you do choose to go the pay route, make sure you know the law and won’t get yourself (or your target influencers) in trouble. Also be sure to measure the impact and ROI of paying for influence and make sure it’s worth your investment.

• Measure your success: While it’s important to measure the buzz generated from an influencer’s endorsement, make sure you can trace it back to your bottom line as well. A great way to do this, is to offer a discount to the influencer’s readers and provide a unique discount code. Or simply ask the person to use a custom URL to measure traffic and how it converts.

For our December newsletter, we asked our employees for their top tips for 2010. It was such a hit with our subscribers, I thought I’d share it with our blog readers as well. Enjoy!

A new year is a great excuse to change your ways and work on improvement. This year we asked the MediaMiser team for tips to improve measurement efforts, here are our top ten:

“Define your company/communication values of your company, understand them and then plan your media goals based on your values. For example, if you’re planning on being proactive to consumer feedback, aim to capture and analyze the media from the feedback.”
Stephanie Luedee, Senior Analyst

“When defining your goals, make sure they can easily be measured. Ask yourself if the end product can be evaluated like the number of mentions in a press clipping.”
Sophie Jodoiun, Analyst

“Prioritize all your tasks in a numbered system to know what you should be working on at all times.“
David Kalec, Junior Developer

“Colour-code your tags and folders in your email client. In an application like gmail this makes it easy to find topic-related emails in your inbox.”
Jen Hogan, Analyst

“Leave all emails in your inbox until you’ve addressed them – once finished with them, delete or file into a folder ALWAYS.”
Sarah Smiley, Analyst

“Understand that everyone has a different definition of success, so treat each account or client individually.”
Samantha Ingram, Analyst

“Set and evaluate outcome objectives with your audiences. Also measure your outputs.  They can help you determine why you did — or did not — achieve your desired outcomes.”
Claudine Wilson, Senior Associate

“Start benchmarking your efforts against competitors, it’s not as scary as you think.”
Kelly Rusk, Manager of Marketing & Communities

“Put your PR efforts on a measurement diet. Write down results, compare over time and take notice of when you gained or lost.”
Chris Morrison, VP Client Services

“When in doubt, ask us for help.”
Bill McGuiness, Sales Director

Think of one we missed? Leave a comment below!

Don’t miss future articles like this and others on PR and social media measurement by subscribing to our monthly newsletter, MediaPulse.

As PR and social media measurement gains strength and focus from experts and various audiences, bashing eyeball count, or reach numbers, and advertising value equivalencies (AVE) has become a favourite sport.

While I am in full agreement with the new measurement theories and understand the importance of starting with your objectives and measuring outcomes that meet the set objectives, I would insist that eyeball count still plays a part in the overall picture and here are some reasons why:

Connecting is the first step

If you are putting out a press release, tweet, blog post, podcast or any message, your goal obviously is to communicate with your desired public, engage them and generate the desired outcome from that engagement. The fact that they have seen (eyeball count) is the first step towards this process. The higher the eyeball count, the higher the probability of engagement. There is an old saying “the beautiful peacock danced in the jungle, but who cares no one really saw it.” It’s the same here, you might have the best concept, but if nobody read it or saw it then you’re not going to go much further with your campaign.

Hence measuring the reach is your first and important step in the process of measuring the campaign success. If we stop at this step, (which traditionally we have been doing) then it does not mean much. But it’s an important foundational step to further build upon the full picture of impact and measurement.

Create departmental synergies before you knock off the eyeballs

Conceptually, any campaign, when created, involves top management, marketing, sales, PR and other departments. Ideally they should all be talking to each other through implementation to measurement. In reality, due to time and resource constraints or simply poor management, the implementation and measurement happens in independent silos. This prohibits percolation of original concept and messaging to all decision makers, especially when external PR and marketing consultants are involved.

Now the task of truly measuring the impact of a campaign in a cohesive way is an even bigger challenge. In the end, each unit ends up highlighting results for their individual efforts instead of focussing on the objectives of the campaign and company goals. So while sales have its numbers to show, marketing has its branding and advertising results, PR (and specifically the media relations unit) often is left with showcasing the reach and AVEs as a quantitative measure of its efforts. So until we get to the utopian world of perfect communication synergy, eyeballs are here to stay.

I absolutely love all the discussions and focus on new measurement concepts, and it’s just the right kind of thinking that will help elevate the importance of communicators, but in doing so, I would be careful to not step on to the media relations people and discount their efforts. Eyeballs and AVEs aren’t the be-all, end-all of measurement but they have their place in the big picture.

from Katie D. Paine's blog

Still winding down from an exciting day at #Meshmarketing in Toronto yesterday (huge thanks to the organizers for a great event). I sat in on four fabulous presentations, but the highlight for me was Katie D. Paine‘s “Social Media Analytics – What, Why and How.”

All day, there were lots of questions about social media ROI and what to measure, both in the presentations, and in talking with other attendees. Katie’s presentation at the end of the day wrapped it up perfectly: The main point was “yes, you CAN measure social media ROI”

She explained the seven steps to social media ROI, you can find all this and more in her presentation, but in short they are:

1. Define the “R” – What are the expected results?
2. Define the “I” – What’s the investment? (She also points out that social media is not, in fact, free–”Do you work for free?” she asked)
3. Understand your audience and what motivates them
4. Define the metrics  (what you want to become)
5. Determine what you are benchmarking against
6. Pick a tool and undergo research
7. Analysis – because research without insight is just trivia

The best part about these steps is that they don’t *just* apply to social media, but any type of measurement.  The challenge with social media is it’s not yet widely adopted, but now you’re equipped to go out and lead the way, so what are you waiting for?

If you missed Mesh Marketing, but were in Ottawa, I hope you were able to catch Katie at Third Tuesday Ottawa. If not, I encourage you to check out the slide presentation or follow her blog.

e-Marketer today published a study saying that social media measurement lags adoption. The difference was quite large: while 86% of respondents had adopted social technologies, only 16% were measuring ROI.

Shocking, yes. But does this tell the whole story? While ROI is a great metric for tying efforts to a dollar value… It’s not the be-all end-all of social media measurement. In fact, if it is the only metric you’re looking at, ROI is actually poor measure of social media efforts.

If you are using it to its full potential, the real value of social media is in the relationships you build with customers and potential customers. The stronger these relationships are, the more likely they are going to turn into money–either directly or through referrals. This is what is often referred to as community building, and why many companies are hiring community managers. The downside to community building, from a measurement point of view, is it’s not an immediate gain… It’s not easily measureable and it’s definitely not easily turned into an ROI figure.

How can you measure community building? Engagement–Look at who is talking about you and how often. Sentiment–Are people talking about you positively or negatively? If you do it well and track these relationships over time, you’ll likely see them turn into dollars.

It should also be mentioned that community building is not just about posting to Twitter/Facebook, blogging and creating Youtube videos. It’s also essential you have a solid product or service and excellent customer service to succeed. This is another measurement obstacle, because you can have the best community manager in the world, but still fail if your offering is not up to par. This problem can’t necessarily be captured in ROI or any other metric unless it’s overwhelmingly obvious (it’s often not).

I can’t comment on whether or not the respondents in the study are measuring more than ROI, but I would hope so. What do you think? Should I be more worried about the lack of ROI measurement?