A Framework For Measuring Social Media Activity

A Framework For Measuring
Social Media Activity
Republished by IAB Ireland Social Media Council
Produced originally by Richard Pentin, Group Planning Director, TMW
On behalf of IAB UK Social Media Council
With thanks to IAB UK Social Media Council and digital and direct marketing agency
Tullo Marshall Warren (TMW) http://www.iabuk.net/research/library/social-mediameasurement-framework
introduction

IAB Social Media Measurement Framework

The IAB Ireland Social Media Council have adopted the IAB Social
Media Measurement Framework as the best framework to measure,
benchmark and evaluate social media campaigns.

The framework, created originally by IAB UK Social Media Council in
partnership with digital and direct marketing agency Tullo Marshall
Warren (TMW), has been designed to help advertisers and agencies
better digest the complexities of social media measurement.

This framework is complemented by Irish case studies, provided by
the IAB Ireland Social Media Council.
overview
1.
Why do we need a framework?
2.
The iab measurement framework
3.
Guidelines to defining KPIs
4.
Putting theory into practice
1.
Why do we need a framework?
why do we need a framework?
EFFICACY
ACCOUNTABILITY
INTERPRETATION
INDUSTRY
SPECIFIC
REASONS
COMPANY
SPECIFIC
REASONS
WHY?
STANDARDISATION
BENCHMARKING
OPTIMISATION
2.
Introducing the iab framework
the iab framework
intent
Establish intentions and
objectives in order to
define which KPIs are
most pertinent
awareness
appreciation
action
advocacy
Define core KPI metrics
by social media
platform (soft metrics &
hard financials)
benchmark
Compare benchmarks
with other SM activity,
channels, industry
averages
intent
intent
Establish intentions and
objectives in order to
define which KPIs are
most pertinent
Without clearly defined
objectives we have
absolutely no criteria on
which to evaluate success
intent
To build brand awareness?
Your intent
should dictate
which KPIs are
most pertinent
To generate buzz, advocacy or WOM?
To generate brand engagement?
To shift consumer perceptions?
To influence key opinion formers?
To generate leads or build prospect base?
To stimulate dialogue or relationship with prospects
To encourage participation for social event?
To manage brand reputation?
To divert a PR crisis?
To engender customer loyalty?
To uncover customer or product insights?
To enhance customer service?
intent
But the trick here is to collate your KPIs
into more meaningful groups
in order to tell a
bigger story…
The 4 As
awareness
appreciation
action
advocacy
Define and measure
core KPI metrics by
social media platform
(soft metrics & hard
financials)
awareness
appreciation
Awareness of social
media platform
Engagement and
appreciation of content
on social media
platform
action
advocacy
Solicits a response or
influences purchase
behaviour in some way
Creates WOM or
stimulates advocacy
APPRECIATION
KPIs can be assigned to one or more of these 4 As
to tell a bigger story
The 4 As
The importance you place on all 4 As will depend on your original intent
INTENT 1
INTENT 2
WEIGHTING OF METRICS
Awareness
Appreciation
Awareness
Action
Appreciation
Advocacy
Action
Advocacy
Activity designed to generate buzz and
WOM might focus more on awareness,
appreciation and advocacy metrics
Activity designed to generate leads
may be much more weighted
towards action metrics
benchmark
benchmark
Compare benchmarks
with other SM activity,
channels, industry
averages
Without comparative
benchmarking
most metrics are
completely meaningless
What is this?
An atom, a ping pong ball or a beach ball?
The diameter of Uranus is 51,118 km
Its distance from the sun is 19 AU
Now for some
interesting but fairly
meaningless
metrics
Uranus’ approximate
density is 1.27 grams per
cubic centimeter
URANUS
Atmosphere: 82.5%
molecular hydrogen, 15.2%
helium and
2.3% methane
Uranus travels at an average
speed of 15,290 miles per hour
The mass of Uranus is about 8,684.9.
Average temperature -350
degrees.
Metrics only have real
meaning when compared to
something else
benchmark
So, how does this
social media platform
compare to other
social media
platforms used by
your brand?
Only compare with other
platforms which share similar
objectives
benchmark
How does this
social media
activity compare
to other marketing
channels?
EVENT
MARKETING
ADVERTISING
PUBLIC
RELATIONS
Only compare with
other channels which
share similar objectives,
otherwise it’s not
comparing like-for-like
DIRECT
MARKETING
EMARKETING
MARKETING
COMPARATIVE
CHANNEL
BENCHMARKIN
G
SALES
PROMOTION
CUSTOMER
BASE
SOCIAL
MEDIA
CRM
benchmark
How does this
social media
activity compare to
your competitors?
Only compare your platform
to competitors where they
share similar objectives
benchmark
How does it
compare to
historical data?
Social
Media
Metric
Has this activity improved
since last measurement
period?
?
Time
3.
Guidelines to help define KPIs
defining KPIs

3 parameters for defining KPIs

by social media platform
(e.g. blog, microblogging, community forum, social
network, fanpage, video sharing site, branded channel
widget/application etc)

by 4As

by soft metrics AND hard financials
defining hard financials
awareness
appreciation
action
advocacy
Define and measure core
KPI metrics by social
media platform (soft
metrics & hard financials)
awareness
appreciation
Cost per Impression
(CPI)
Cost per Engagement
(CPE)
action
advocacy
Cost per Lead
(CPL)
Cost per Referral
(CPR)
APPRECIATION
defining KPIs

The following tables are intended to outline some of the KPIs at
your disposal.

It is only intended to be a helpful guide rather than an definitive
list

Select the KPIs most pertinent to your objectives or feel free to
add KPIs of your own!
social media measurement
i
SOFT METRICS
Can be any Social Media platform
eg. Social network
(community forum,
fan page), Blog,
Microblogging,App, Sharing video /
photos, podcasting, Social Media
Advertising.
INTENT
b
AWARENESS
APPRECIATION
ACTION
ADVOCACY
Awareness of social
media platform
Brand engagement
and appreciation of social
media platform
Solicits a response or
influences purchase
behaviour in some way
Creates word of mouth and
stimulates advocacy
Search rankings
# of fans / followers
Website referrals
Referrals from brand
website
# of subscribers (email, RSS)
Call centre enquiries
Unique visitors
# of comments, interaction,
@replies, # of DMs, # of plays,
bookmarks
Brochure requests
Reach
# of discussion threads
Coupons downloaded
Impressions
inbound links, trackbacks,
pinbacks
Handraiser registrations
Search rankings
# of active users
# of inbound links
Poll votes
Influence Ranking
Page views
Media coverage incl blogs
Videos viewed
Video installs
Return visits
spin-offs (video)
Dwell time
UGC uploads/submissions
Cost per Impression
(CPI)
Cost per Engagement (CPE)
Cost per Lead
(CPL)
Cost per unique visitor
Cost per subscriber
Incremental sales
Cost per page view
Cost per incremental sale
Cost per follower
Frequency of purchase
Cost per play (video)
Average purchase value
Reduction in call centre costs
Retention rates
BENCHMARKS
Comparative stats from:
- similar social media
platform/similar historical
# of status updates
campaigns
- other social media
platforms
- non social media platforms
Share This metrics
(e.g. direct mail/banner
advertising)
# of tweets / retweets per post - competitor activity
- non-sector specific/best in
class
Digg/ Stumbleupon/Reddit
# of bookmarks
# of competition entries
FINANCIAL
SOCIAL MEDIA
PLATFORM
a
Cost per Referral
(CPR)
measurement template
i
b
AWARENESS
APPRECIATION
ACTION
ADVOCACY
Awareness of social
media platform
Brand engagement
and appreciation of social
media platform
Solicits a response or
influences purchase
behaviour in some way
Creates word of mouth
and stimulates
advocacy
BENCHMARKS
Comparative stats
from:
- similar social media
platform/similar
historical campaigns
- other social media
platforms
- non social media
platforms (e.g. direct
mail/banner
advertising)
- competitor activity
- non-sector
specific/best in class
SOFT METRICS
Can be any Social Media
platform eg. Social network
(community forum,
fan page), Blog,
Microblogging,App, Sharing
video / photos, podcasting,
Social Media Advertising.
TIP: Do a separate table for
each Social Media Platform so
you can compare them against
each other
INTENT
Cost per Impression
(CPI)
FINANCIAL
SOCIAL MEDIA
PLATFORM
a
Cost per Engagement
(CPE)
Cost per Lead
(CPL)
Cost per Referral
(CPR)
4.
Case studies using the framework