Measuring Social Media – Let’s Get Serious

These are my notes, not a transcript of the 3/13/11 SXSWi session.  Sorry if I got something wrong, feel free to let me know in the comments.

Panel:

What’s the latest regarding the recent news with Twitter’s API analytics strategy?

The API supports Twitter ecosystem.  It let’s the eco system add value and innovate so other companies can help customers understand/measure engagement and ROI.

 What opportunitities does Twitter offer developers that use the APIs, is it too limiting?

Their was debate among the panel on this topic.  Some felt that the API was valuable while others felt developers need direct access to the data.  Brands want better access to the data.  The API continues to improve, but is it enough?

This topic came up again in the Q&A where a commenter felt Twitter should publish a list of companies that have access to the “fire hose”.   If one is basing their research on the data but they don’t have full access to the full data set, the research is flawed.  Kevin was unable to recite the full list from memory, but did say the list included the biggies such as Google and Microsoft.  All such arrangements are business deals and that Twitter is working with the library of congress to provide the full data feed for research purposes.

What are some of the best practices around multi-platform analytic strategies?

Jason ranted (quite humorously) about how we in the “eco chamber” love Twitter, but only 8% of people use it (source: Pew Research).  Therefore it’s not as important as we might think it is.  The biggest social channel is obviously Facebook. 

What’s really important is that you know where your customers are be it blogs, news sites, LinkedIn or off line. 

Which platforms should be invested in?

Use monitoring tools to see where the conversations are.  Know that these tools are imperfect, but they are useful aids.  Don’t discount the value of surveying your customers: Where are they online?  What do they do online?

Specific tools mentioned:

  • Viral Heat
  • Radian 6
  • Alterian
  • Uberview
  • ConsumerBase
  • SWHQ

 What data is important and why?

This gets to the question of “What is the ROI of Social Media?”

You cannot measure ROI of one portion of your marketing media, they are interconnected.  Further, it’s not a good question.  ROI is about money and ROI does more than make money.  
Jason listed 6 things social should do:

  1. Brand awareness
  2. Improve your community
  3. Reputation management
  4. Customer service
  5. Research and development
  6. Generate sales leads

Raj believes in tying ROI to a dollar figure.  While Kevin said if you use social correctly, you create a deeper relationship with the individual consumer.

(so no one got around to answering the question, but it’s not surprising since ROI is a very popular discussion)

Content Rules #SXSWi

For their session CC Chapman and Ann Handley held an informal Q & A with a few hundred people on the topic of content.  Here were the best questions and their associated answers.

What are some of the best ways to distribute content?

  • Find people who are already talking about your content topics and engage with them.
  • “Re-imagine” your content in other forms (video, blog, photo, etc) and share it some more.
  • It’s okay to tweet about your content on Twitter as look as it’s done correctly.  Focus on your best content and don’t over do it.

How can brands stand out in a crowd?

  • Have an opinion.  Don’t be vanilla.  Don’t be afraid to have a different view.  You can disagree without be disagreeable.
  • Do something unexpected.
  • Create your brand voice so you are heard, recognized and consistent

How do you motivate a client to try something new?

  • Show them examples and success stories
  • Start small
  • Help them recognize the opportunity to stand out

How do you produce a lot of content?

  • Use a content calendar.  Some platforms have plugins for this
  • Who said you have to create a lot of content?  Make sure you know why you think you need a lot.  Yes, SEO is important, but if the experience isn’t great what is the point (content rules right?)
  • Manage the balance of quality vs. quantity
  • Make sure you know what content is important to your customers.  Build that content.

How can you get your content to be more appropriate for digital?

(as opposed to appropriate for academia)

  • Show and tell works.   Find good examples in their industry.
  • An exercise: Have them find a comfortable way to have their writing reviewed by peers
  • Have them read blogs so they can understand reader expectations
  • Have them write a blog about a hobby
  • Help them understand that the format needs to be more conversational

How can a small company create great content?

  • Play to your strengths, if you have good writing skills, leverage that.  Or find a format that works best for you like video or photography.
  • As you grow, find people that fill in your gaps
  • Remember that writers tend to be good thinkers and are usually a safe bet

Slaying the For Horsemen of the Social Media Apocalypse

Panel: Slaying the Four Horsemen of the Social Media Apocalypse
Jaime Punishill (@jpunishill) & Greg Matthews (@chimoose) did a great job leading discussion regarding issues facing regulated companies. If you missed the session, here are my notes:
– Don’t under estimate the amount of evangelizing you’ll have to do. You’ll have to tell/sell the story over and over.
– Win over Compliance by doing their jobs for them. You need to know how social media impacts them better than they do.
– Know that you’ll have to deal with those that fear not being able to control the message.
– Establish precedent with analog and digital processes and controls already in place for other communication media.
– Regulations either won’t change or will be too slow to change. YOU have to adapt. Compliance isn’t going to unpour the concrete.
– Know that you’re going to Design-Build-Fly the airplane at the same time.
– Find the company in your industry that people envy in general and use their social program as your internal benchmark. Use that comparison as a lever.
– Find a project that has infinite support in your org and find a way to attach social to it.
– Don’t expect your executives to tweet. They have too many demands on their time. BUT look for high level champions.
– If you decide to brand your executives ensure you don’t lose authenticity and don’t make them the sole focus of the brand.
– Send regular social listening reports on topics business decisions are made on.
– Find resources where you can, find staff that has a passion for social.
– Keep in mind that EVERYONE is on the defensive. You are disrupting their work-life bigtime.

MyWebCareer: Another social influence vendor joins the fray

Move over Klout and PeerIndex, you have more competition.  MyWebCareer uses a social scoring system that closely resembles a credit score (365-850).  A score of 582 is considered average.

As far as features, most notably it has the following:

  • Interactive, graphical display of your data and network
  • Analysis of your profile indicating problems with your profile

Users have the option of upgrading ($5 monthly) to gain:

  1. Insight into scoring metrics
  2. Improved public profile
  3. Comparison of your score against your network
  4. Additional insights via charts and graphs
  5. Custom job postings
  6. Proactive score monitoring

Unfortunately MyWebCareer is following the recent trend of trying to access your friends data on Facebook. (Which I hate)

MyWebCareer has an attractive interface and their credit rating system will be familiar to a broader population.  As I’ve said before, what matters in influence is context.  In a straight up fight with Klout, the social influence measurement company which most resembles MyWebCareer, the latter has some catching up to do.

Here’s my profile.

photo credit renjith krishnan @ freedigitalphotos.net

Feb Poll results: Android will dominate

The February poll question was:

What will be the dominate mobile platform in Q1 2012?

64% of respondants said Google’s Android will be the winner.

36% of respondants said Apple’s iOS platform will be the market leader.

No one believed in RIM, Nokia, Microsoft, HP or any other mobile platform vendor.

In the comments, Rob made a great point that, while Apple may not win in Marketshare, they will win in revenue.

It’s obvious that Apple and Google have differnet revenue in the mobile space.  Apple is generating it’s revenue with it’s mobile apps.  On the other hand, Google reports to be generating $1 billion in revenue from mobile.

 Photo credit Ambro @ freedigitalphotos.net

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