#IPASOCIALWORKS
MEASURING NOT COUNTING: HOW TO EVALUATE THE EFFECTIVENESS OF SOCIAL MEDIA MARKETING Fran Cassidy, Cassidy Media Partnership Celina Burnett, Gain Theory Christopher Wellbelove, BT
A cross-industry collaboration between
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Sponsored by
To provide definitive guidance on the effective use and evaluation of social media to drive a measurable business return
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3 STRANDS:
1. Evaluation
2. Insight
3. Personalisation
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58% place “Likes”, “Tweets”, “Clicks” and “CTR” in their Top 5 Marketing ROI KPIs
“90% of marketers are not trained in marketing performance & marketing ROI” media release 8th April 2014
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>220 cases reviewed
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>45 cases interrogated by peer review
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18 solid cases (that doesn’t mean that social didn’t work in the others)
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18 PUBLISHED CASE STUDIES
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ROLE OF SOCIAL MEDIA Telling deeper, richer, stories Engaging in a two-way dialogue with consumers Leveraging social behaviour Amplifying and enhancing other activities Consumer insight and targeting Enabling real time management of campaigns MS 17FEB16
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<
< EBOLA
ICE BUCKET CHALLENGE
Source: Michael Ni, “Transmissibility of the Ice Bucket Challenge”, BMJ 2014
MEASLES
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PAID SOCIAL LEADS TO
25% MORE CONVERSIONS THAN ORGANIC SOCIAL*
Source: Convertro, 2014
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THE MEASUREMENT CHALLENGE Similarities • Paid social is comparable with many other forms of advertising • Direct Response and Brand messages • Need to assess short and long-term impacts, and • Impact on brand KPIs and the bottom line • Earned social can be comparable with PR campaigns
Differences • Two-way, always on channel • More data, in real-time, resulting in a lack of focus or focus on metrics • Silos in ownership and measurement • Synergistic role with other media • Tactical use and short-term focus • Activities span paid, owned and earned media, including influence • Lack of best practice or lessons from traditional planning MS 17FEB16
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Source: TylerVigen.com
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CORRELATION VS. CAUSATION WHY DOES CAUSALITY MATTER? Sales (£)
Facebook Likes
• Understanding why something works is key to learning, scaling, predicting • Without causal stories it is much harder to create new material or campaigns
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SYNERGY EFFECTS
SILOED MEASUREMENT UNDERESTIMATES SOCIAL ROI BY
16%-50%
Source: Nielsen (USA, 2013)
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CASE STUDY: CADBURY’S CREME EGG
SYNERGY EFFECTS 1.41
Exposure to FB & TV created a
1.25 1.11
66% greater
1.13
effect than the sum of its parts
Uplift Factor Only TV
Only Facebook
Expected Facebook + TV
Facebook + TV
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SHORT AND LONG-TERM EFFECTS • Social is often good at measuring short-term effects and micro-objectives ‒ E.g. Downloads, registrations, plays, trials etc.
• But, long-term effects are often more important driving brand value and price elasticity • Without short-term effects there is usually no longterm effect ‒ But long-term effects are not just the sum of the shortterm effects
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INFLUENCE
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INFLUENCER MARKETING â&#x20AC;&#x201C; THE PREMISE 1. Ideas and preferences spread through communities 2. Some people are more influential than others 3. Influence can be measured and this can be used to make influence marketing more effective 4. Marketing to influencers is likely to be more effective than marketing to everybody or segments
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INFLUENCE VS. HOMOPHILY
What do the leading experts say? Sinan Aral 1. Influence exists, is measurable, but is smaller than generally assumed 2. Models that do not take homophily into account tend to overestimate influence 3. Identify the counter-factual â&#x20AC;&#x201C; i.e. how many would have bought anyway?
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BAKING IN MEASUREMENT STEVEN KINGâ&#x20AC;&#x2122;S PLANNING CYCLE
#IPASOCIALWORKS 5 POINT PLAN 1. What is the activity designed to do? What is its contribution to overall marketing/brand objectives? 2. Why social? What is the role of social? Have a hypothesis of how it will work 3. What decisions will be made on the strengths of the evaluation? 4. What are the appropriate datasets and metrics? 5. Design the evaluation process. Will you change the activity in real time? MS 17FEB16
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CASE STUDY: ASB BANK
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CASE STUDY: ASB BANK
The worldâ&#x20AC;&#x2122;s first home loan rate powered by Likes
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CASE STUDY: ASB BANK
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CASE STUDY: ASB BANK
• Average value of a home loan $400,000 • 4.95% interest (conservative) = 1 year fixed interest rate • Estimated revenue $4,534,200 • Campaign Cost exc Agency fees NZ$378,455 • NB Average life of a loan is approx 25 yrs.
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5 CORE TECHNIQUES 1. Market Mix Modelling (MMM) 2. A/B Testing 3. Direct Conversion Tracking 4. Brand Tracking 5. Cost Reduction (Cust. Service) MS 17FEB16
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MMM: UNPICKING MEDIA IMPACTS
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CASE STUDY: LYSOL
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CASE STUDY: LYSOL
POE CUSTOMER JOURNEY MODELLING Paid Media
TV & OLV
Paid Search
OOH
Paid Facebook
Display
• Awareness (% spontaneous)
• Involvement
(% “Is a brand for me”)
Owned & Earned Media
Other Factors
Organic Search
Owned Facebook
Online Traffic
Earned Facebook
Price
Promotions
Seasonality
Economy
Competitors
Climate
• Consideration (% first choice)
Purchase
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CASE STUDY: LYSOL
POE CUSTOMER JOURNEY MODELLING
Facebook drove
0.7% sales
through impact on awareness and consideration
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CASE STUDY: VODAFONE
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CASE STUDY: VODAFONE
B2B LEAD GENERATION Objectives:
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Improve Vodafone’s awareness beyond mobile and enhance the brand’s perception as an innovator and a thought leader to improve consideration levels. Drive leads through the purchasing funnel by providing intelligence to sales teams for three segments: SMEs, Large businesses and the Public Sector. Strategy: Engage the enterprise audience with cohesive, tailored content and social platform to spark user-generated conversations, add value and position Vodafone as a thought leader in ‘enterprise’ communications solutions.
* ‘Your Better Business’ has since rebranded as ‘Your Ready Business’ MS 17FEB16
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CASE STUDY: VODAFONE
B2B LEAD GENERATION Implementation: - Content targeted at needs of different stages of their decision journey. Including: snackable infographics and video content, expert articles, top tips, customer stories, and in-depth ‘Perspective series’ white papers, combining proprietary research and opinion. - Make content shareable, segmented and tagged by subject and business size for easy discovery.
Types of content served up by ‘Your Better Business.’
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CASE STUDY: VODAFONE
B2B LEAD GENERATION - Integrate content into the online journey: - API built to automate content integration with the main website, Vodafone.co.uk. - Content leveraged in emails and CRM programmes with existing clients and prospects. - Specific content developed for social campaigns supporting key enterprise solutions. The â&#x20AC;&#x2DC;Your Better Businessâ&#x20AC;&#x2122; platform brings together channels and partners into an ecosystem.
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CASE STUDY: VODAFONE
B2B LEAD GENERATION
Sample content publishing plan, segmenting relevant content by target group.
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CASE STUDY: VODAFONE
B2B LEAD GENERATION • Results: Vodafone sales teams were trained in how and when to use the content or the platform as a critical part of the sales cycle. • ‘Your Better Business’ was inputted as a code when entering data into Salesforce.com. • 47 UK sales opps - total contract value of £37.8m. 2014/15 - £2.4m from this pipeline. • Perspective series’ of thought leadership reports generated incremental sales for Vodafone’s ‘Better Ways of Working’(BWOW) consulting teams. Managers from these teams doubled the value of expected sales - generating £14.25 million of incremental revenue. • Content was used to train BWOW account managers, and to provide insight to initiate discussions with prospects, giving data and points of view to enhance credibility when having these conversations.
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CASE STUDY: BT
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CASE STUDY: BT
WHY IS BT USING SOCIAL MEDIA?
Improve Service
Net Easy Score Cost Avoidance Community Health
Build Loyalty and Advocacy
Churn Propensity Followers/Fans Engagement & Amplification
Create Brand Warmth
Positive Mentions Sentiment
Acquire Customers
Reach Conversion
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CASE STUDY: BT
FOR TRANSPARENCY Fire…
RichieJones “Now that is transparency!! RT: @BTCare: Service restoration underway but may take some time.” CallMeKallam “@MangaUK The exchange is in Gerrard Street, but I believe that caters for the West End. Follow @BTCare for info, they're good chaps.”
Vandalism… Flood…
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CASE STUDY: BT
FOR CRISIS MANAGEMENT “Major pressure on 999 tonight, please call in absolute emergency only #Londonriots” Tweet Reach: 311,896 people
via 358 retweets Wait time on 999:
41 seconds to 0 seconds
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CASE STUDY: BT
CUSTOMER RETENTION & COST REDUCTION
40% difference in churn: ‘easy’ vs. ‘difficult’ EFFORT NPS
CSAT Correlation with increased spend
Survival Rate
Correlation with repurchase
• Objectives: Reduce customer effort to increase customer spend and reduce churn
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CASE STUDY: BT
SOCIAL AS A DRIVER OF BT’S NET EASY SCORE
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CASE STUDY: BT
SOCIAL WORKED FOR BT CUSTOMER SERVICE BECAUSE: •
Widened BT’s footprint and maximised entry points for customers
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Delivered higher Net Easy Scores, proven to lead to higher customer spend and reduced churn
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Reduced costs by reduced demand on traditional more expensive service channels (estimated 600,000 contacts re routed to social)
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Reduced costs through user generated content (community leaders generate 20% of posts/28% of accepted solutions)
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Enabled BT to pre-empt in-bound contact by posting relevant material and reducing unnecessary contacts
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Where appropriate customer journeys could be automated MS 17FEB16
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CASE STUDY: BT
BUSINESS RESULTS Unique customers x Resolution (%) from these channels
x
Handling cost (voice)
=
Cost Avoided Minus cost of Social Media team
BT Customer Service
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Net Cost Saving
ÂŁ2m annual saving
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GET INVOLVED
1. CHECK OUT THE GUIDES
2. READ THE CASE STUDIES (& SUBMIT ONE!)
3. REGISTER FOR TRAINING DAYS
COMING SOON: INSIGHT & PERSONALISATION
Questions? Fran Cassidy, Cassidy Media Partnership
Celina Burnett, Gain Theory
fran@cassidymedia.com
celina.burnett@gaintheory.com MS 17FEB16
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