5 Key Questions to answer: Are social recommendation the new Social Media Currency ?
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How will social media change the Internet and Online financing ? Google revenues come by more than 95% through advertising. Whereas 60% are on Google owned inventory. Currently community sites have a very high lock-in factor to users and also high usage numbers. At the same time people using the Internet and Social Sites anytime, anywhere on their mobile. Business have to keep up with customer and try to offer conversations where customers are. But how can you argue: Why should a company do social media ? How do you measure Social Media ROI ? 5 Key Questions to answer: Are social recommendation the new Social Media Currency ?
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5 Key Questions to answer: Are social recommendation the new Social Media Currency ?
- 1. How do you measure Social Media success ? If Pageviews and Clickthroughs are no longer the right currency. 20.03.2010, Barcampruhr3 Aboutme: Markus Kucborski (http://google.com/?q=Markus%20Kucborski) @bjain (BinJetztAuchImNetz) Readme: http://blog.vodafone.de/author/markus http://blog.betazation.com Samstag, 20. März 2010
- 2. Social networks continue to grow in Germany Facebook alone gained a million users in one month Unique Pos. Website Change in % Visitors* 1 facebook.com 11,0 10,0 >Many social networks achieve an 2 wer-kennt-wen.de 6,1 -1,6 increase 3 stayfriends.de 6,1 17,3 in users by over 10 per cent within a single month. 4 schuelervz.net 5,6 0,0 >Compared to November Facebook 5 studivz.net 5,5 0,0 alone gained a million users in December. 6 meinvz.net 4,2 10,5 >With its leading position in the 7 myspace.com 3,8 -7,3 category of social networks Facebook is also counted among the ten most 8 xing.com 2,9 11,5 popular websites in Germany. 9 twitter.com 2,4 0,0 10 jappy.de 2,1 5,0 Source: Google Ad Planner 01/2010 * Unique Visitors in Germany December 2009 2 20 March 2010 Samstag, 20. März 2010
- 3. Social media usage advances with untapped potential Reach over time Active internet users: “Thinking about using the internet, which of the following have you ever done? 90% Watch video clips online 80% Listen to live radio/audio online 70% Visit a friend‘s social network page Read blogs 60% Manage a profile on a social network % Ever done Create a profile on a social network 50% Leave a comment on a blog site Upload my photos to a photo sharing site 40% Start my own blog/weblog 30% Upload a video clip to a video sharing site 20% 10% 0% Wave 1 Wave 2 Wave 3 Wave 4 Sep 06 June 07 March 08 March 09 Source: Power to the people - Social Media Tracker Wave 4, Universal McCann © 2009July 2009 3 20 March 2010 Samstag, 20. März 2010
- 4. Content posted on a social network Messaging friends is most popular Social Network Users: ‘‘What do you do with your social networking profile?’’ e rm s rk fo ic on o ul us as r w us / e s ef ar ion m d e/ re fo te rit s s to at at s al ts nd nd lis ou os nd os th lic on ac ie ie p tly fav ot ie de og ts pp si nt ou fr fr fr ph es o vi bl ge l a w ge gr en y of e c d rr la ne d d ol id l a sa w sta a oa oa cu isp pr ak e nd nd in es rit pl pl In M D Jo Fi Fi W M U U 81.5% 76.3% 74.3% 56.4% 47.9% 35.5% 33.5% 33.1% 29.9% 29.1% Source: Power to the people - Social Media Tracker Wave 4, Universal McCann © 2009July 2009 4 20 March 2010 Samstag, 20. März 2010
- 5. Social network usage on mobile devices on the rise 760.000.000 mobile social network users expected in 2014 Mobile Social Network Users Worldwide, 2008 – 2014 45% 43% 40% Mobile social 800,0 37% 40% networking continues to 760 grow substantially in 34% popularity and will be 30% used by half of the 600,0 28% 608 mobile Internet users by the year 2014. 19% 454 20% 400,0 318 10% 200,0 223 141 76 0% 0 Mobile social network users 2008 2009 2010 2011 2012 2013 2014 Source: eMarketer, November 2009 5 20 March 2010 Samstag, 20. März 2010
- 6. Over eighty per cent use mobile social networks Nearly half of them are using their phone often for social netwoking Mobile Usage of Social Networks by Brand Mobile Use of Social Networks What social network do you use the most from your phone? How often do you use your phone for social networking? Does not apply 16% Never 26% Often Other 12% 44% 47% Facebook 9% Peperonity 2% Rarely 2% Mocospace 2% LinkedIn 19% 2% Twitter 2% Digg 16% Sometimes Myspace Social Networking: Mobile Consumers Weigh in, Survey compiled: August 27, 2009, AdMob, Inc. 6 20 March 2010 Samstag, 20. März 2010
- 7. Online Marketing spendings are NOT yet in Social Media 7 Samstag, 20. März 2010
- 8. Your social media footprint - How many people do you reach ? by Numbers Sample quantitative KPIs • # numbers of friends/follower/subscriber • followers • active and inactive commenters • retweets • unique visitors or member registrations • mentions • bit.ly referals • ratio and types of posts to comments • hashtag referals • # of Message posts if a forum • + vs. - tweets • # of Conversations over a month period • subscribers by Trend • views • absolute numbers & abs/relative growth, commenters • favourites • ratio of positive vs. negative comments • video replies • comments • video co-creation 1.there is NO agreed social media currency (yet) 2.PageViews or Clickthroughs are useless to measure recommondation or loyality8 Samstag, 20. März 2010
- 9. Social media currency: Why will people recommend you ? Five key questions 1. Social Authority - Who is talking about you ? 2. Social Conversations - To whom do you talk ? 3. Social Sentiment - How do people talk about you ? 4. Social Network Valuation - Churn and Promoter score ? 5. Social Conversion & Referal – How can you benefit ? http://tinyurl.com/d6vwok 9 Samstag, 20. März 2010
- 10. Social media currency*: Iterations of listen & learn & incorporate •Who is talking about you ? •Churn and Promoter score ? • share of conversation/content vs. competitors • valuable product feedback: feature wishes & • types comments/posts written about you priorities • authority of mentions: Un-/Linked, location • members recommendation to friends • Reputation of author: client, colleague, influencer • community members defending you on negative online posts •To whom do you talk ? •How can you benefit ? • Conversational differences: customer support, • reduce customer care costs & enable community to support sales opportunity, partnering, journalist, supplier, • generated leads from social media. competitor • customer loyalty from community conversions • conversation spread and growth • move community members from online to offline – meetups, reimbursing online or •How do people talk about you ? mobile coupons. • duration of product release buzzes • opportunity sales: direct revenue from communication within community • sentiment of product or company reviews • identitfy and promote brand evangelists/fans • reasons for attacks & praise about you *with many credits and thanks to : Get A Yardstick – Amber Naslund, http://altitudebranding.com/2009/03/get-a-yardstick/ How Are You Measuring Your Community? – Lisa Barone, http://outspokenmedia.com/social-media/how-to-measure-community/ Social Media Metrics – Rachel, http://www.thesocialorganization.com/social-media-metrics.html 10 ways to measure social media success – Chris Lake, http://econsultancy.com/blog/3407-10-ways-to-measure-social-media-success 10 Samstag, 20. März 2010