Here at Our Social Times, we’re very proud to have hosted Social Media Measurement and Monitoring 2013 for the third year. The feedback we’ve received has been incredible, so thank you to our sponsors, everyone who attended and to all of the fantastic speakers for making the day a great success.
For those of you that weren’t able to attend, you can read the live-blog courtesy of Adam Tinworth (Liberate Media). We will also be publishing some detailed accounts of the presentations and the video highlights over the days and weeks to come, but for now here is a brief summary of how the day unfolded.
Luke Brynley-Jones, Our Social Times – Introduction
The day started with a brief introduction from Our Social Times CEO Luke Brynley-Jones. Luke outlined some of the key challenges that businesses face when measuring or monitoring social media, including how to track and attribute sales, how to identify the metrics that really matter and how these tie into business goals, and of course, how do I explain all this to my boss?
Katy Delahaye Paine, News Group International – Emerging Standards in Social Media Measurement
We were delighted to have Katy Delahaye Paine deliver the conference keynote. She has been working on standards for PR measurement for over 15 years and is the world-renowned ‘Queen of Measurement’.
During her presentation Katy explained the need for accepted standards in social media measurement and the work that she is doing to help create that framework. They are focusing on six areas and so far the first three have been written.
- Content sourcing and methods
- Reach and impressions
- Influence & relevance
- Opinion and advocacy
- Impact and Value
You can find out more at http://www.smmstandards.org/
Katy Howell, Immediate Future – Attribution vs Contribution
Time and again companies run campaigns without giving thought to how they will measure the results until afterwards. This can never succeed; you need to plan your measurement in advance.
Unfortunately, most people use last click metrics which reveal only a tiny part of the process. It assumes there’s only one touch point, but on average we touch over 10 sources before committing to a purchase. Consumers will read online reviews, search for offers, ask their Facebook friends for advice, consult their Twitter followers, use a comparison site, speak to their family, before finally, typing the company name into Google and completing the purchase. Despite the valuable role played by all these channels, only Google takes the credit. We need to be thinking about what role social plays in a multichannel attribution model.
Leon Chaddock, Sentiment Metrics; and Maria Jose Serres, Peer 1 Hosting – Case Study: Social Media Monitoring for B2B Organisations
Social Media Monitoring is now being used across multiple departments, but there is often a lack of consistency across the organisation. As one of the world’s largest web hosting services, Peer 1 have been working with Sentiment Metrics to set up a consistent and strategic approach to their monitoring.
First of all, they filtered searches to identify mentions they could actually act on and assign them to the appropriate team. In March 2013, they were able to identify 55 sales leads worth £800,000 as well as act on customer complaints that could otherwise have damaged the brands reputation.
Marshall Sponder – Integrating Social Media Monitoring, Analytics and Measurement
There is so much data out there and it will keep on growing at incredible rates, but how much value does it have to your business? The amount you spend on a social media monitoring tool or analytics platform will largely be defined by your business needs and business size. As your sophistication increases, so too will your investment.
Businesses now need platforms that tie in monitoring, social CRM and engagement, but there is not really an end-to-end solution. Platforms are trying to do everything, but some do certain bits better than others. This means that you may end up with two different platforms that by in large do the same thing.
Lutz Finger, Fisheye Analytics – Astroturfing and the Rise of Fake Influencers
This fascinating talk by Lutz Finger gave us an insight into the millions of fake social media profiles that exist, what their business model is and how we should handle them.
The first generation of bots were simply spammers gone social. They are very cheap and easy to create, post incredible amounts of spam and had terrible conversion rates (1:1.25 million). They were also easy to spot as they over used hashtags, posted in bursts and their only friends were bots.
However, bots have got more sophisticated. They can now build relationships and 30% of users cannot tell that they’re not talking to a real person. Deleting bots doesn’t seem to work as they just come back stronger. Instead, what some sites such as OKCupid are doing is to move the bots into a ‘secondary world’ of their own. I’m sure there are some strange conversations going on in there.
Read Part Two Here.