In his Brands-Only Summit Pre-Conference presentation, U.S. Bank's Troy Janisch talks about evaluating your brand, customer service, and reputation in social media among peers. He explains how to benchmark, create social media scorecards, define key indicators, and determine what is actionable.

1. SOCIALMEDIA.ORG/SUMMIT2016ORLANDOJANUARY 25–27, 2016
Social media benchmarking:
Beyond sentiment and share
of voice
TROY JANISCH
U.S. BANK

2. Social Media
Benchmarking:
Beyond Sentiment
& Share of Voice
Troy Janisch,
Director of Social Intelligence
U.S. Bank

3. Data can be eye-opening
Not a Snoozer
Three ‘actionable’ insights:
One… to find them.
One… to gather them.
One… to bind them.
One to rule them all.

4. • Heavy focus on
marketing as an ‘art.’
• Attempt to copy
success without
quantifying goals or
using data to identify
leading tactics
• Can articulate a desire
to be more data driven
• Focus on high-level
metrics
• Lacks an established
cadence
• Lacks specific goals for
metric improvements.
• Clear, regular cadence
to measurement.
• Knows key metrics
across channels and
has specific goals for
improvement
• Understands how to
measure marketing ROI
• Benchmarking is
ongoing and pervasive
• Periodic reporting is
standard, though often
over longer periods of
time (quarterly)
• Patterns of successful
tactics are identified
but not translated to
clear test cases.
The Evolution of Social Insight

5. • “I think we’re doing
better than the se
competitors”
• “These competitors are
doing better than us. I
think its because…”
• INSTINCT DRIVEN
• “DO SOMETHING”
• “These companies and
competitors are ranked
high. We can learn by
watching what they are
doing before we act.
• LEADER DRIVEN
ANECDOTAL
COMPARISON
• “KNOW SOMETHING”
• “These are the
improvements we can
make to gain market
share and improve
sentiment going
forward.
INTERPRETING DATA,
LOOKING FORWARD
DEEP, FOCUSED
COMPARISON
• “WHAT WE CAN DO”
• Here’s how we
compare against these
competitors in Share
of Voice and
sentiment.
INTERPRETING DATA,
LOOKING BACKWARD
HIGH LEVEL
COMPARISON
• “HOW WE COMPARE”
The Evolution of Benchmarking

6. Problems we have
Strategy
Segmentation
Targeting
Positioning
Product
Tactics
Social Channel
Content Format
Ad Format
Creative
Copy/Voice
Images
Video
Statistics
Not Enough Data
Bad Experiment Design
Video
Correlation vs Cause
When you’re wrong, you don’t
don’t know it.
OR
Real problems that we need to test Data problems

7. Social Data: Estimating a Proportion
•A less reliable sample
•Higher Probability of being wrong
(and not knowing it)
•Easier & more affordable
Accept
Raw Data
•A more reliable sample
•More confidence that you’re right
•Takes more work (resources or $$)
Adjust
the Data

8. Danger Hidden Third Factor
Hidden
Thing
Opportunity
or Problem
Observable
Insight
Observable
Insight
Lurking Variables
The tendency for items that are
correlated (best time to post on
Facebook) to appear as causes
(quality of content)

9. Sentiment:Don’t Work Without a Net
Using Net Sentiment
Calculate sentiment on a
scale of -5. to +5, excluding
mentions with neutral sentiment.
Improves ‘readability’ and comparability
over time.
Calculations
difference = positive - negative
sum = positive + negative
net sentiment = (difference / sum)*5
Brand Negative Positive Total Volume Share of Voice
Net
Sentiment
Bank of America 6.93% 11.42% 85,123 28.1% 1.2
Chase 7.18% 9.55% 43,875 14.5% 0.7
Citibank 3.98% 7.54% 41,110 13.6% 1.5
Fifth Third 5.42% 17.47% 3,046 1.0% 2.6
PNC 6.95% 11.65% 12,410 4.1% 1.3
U.S. Bank 10.32% 5.82% 10,329 3.4% -1.4
Wells Fargo 4.64% 7.53% 107,402 35.4% 1.2

10. Courtesy of Jessica Mack ‫‏‬(@js_mack)

11. Optimize Listening: Auditing
Auditing Considerations
Auditing = Accuracy. You need to audit (verify
and adjust) sentiment for all brand mentions.
Unadjusted, totals were: 757 positive and 312
negative (net sentiment +2.08)
Social data to the left has an adjusted net
sentiment of -1.22
A difference of 3.3 points
What do you do for Benchmarking?

12. Optimize Listening: Unique Authors
Unique Authors
337 positive from 306 authors ( 1.1 posts/author)
554 negative from 371 authors ( 1.5 posts/author)
Unadjusted Net Sentiment: +2.08
Adjusted Net Sentiment: - 1.22
Unique Net Sentiment: - .01 (adjusted)
- Removes 'Loudness' of serial/duplicate posters
- Identifies detractor strength (1.5)
- Identifies promoter strength (1.1)
- Easily calculated
EXCEL FORMULA FOR IDENTIFYING UNIQUE AUTHORS
=SUM(IF(FREQUENCY(MATCH(begin:end,begin:end,0),
MATCH(begin:end,begin:end,0))>0,1))

13. Share of Voice: Not All Mentions are Equal
Eliminate “clutter”
- Job Postings
- Checkins
Create Meaningful Categories
- Product
- Customer Service
- Philanthropy/Sponsorship/Event
Add Other Dimensions
- Social Channel
- Original vs Shared Content
- Media Type

14. Share of Voice: Not All Mentions are Equal
Additional insights:
- Sentiment by Content Type
- Engagement by Content Type

15. Social Media Benchmarking:
• Public “Influence” Scores, like Kred and Klout
– Pros: Publicly available, one score to compare across organizations
– Issues: Dependent on organizations connecting social networks with scoring
system, scoring systems are vague “black boxes”, unable to cater to our needs
• Brandwatch Impact Score
– Pros: Takes into account time period defined to account for posting behavior
and impact during that time
– Cons: Proprietary (dependent on our continued use of Brandwatch), scoring
system still vague and unable to duplicate, unable to cater to our needs
• Build our own scoring system using Public data
– Pros: Public data always available, able to cater to specific needs/situation
– Cons: We need to create/update/calculate ourselves

16. Social ‘Weight’ Varies by Network
Facebook
• Privacy: Semi-Private
– Most posts by users are only
available to be seen by Friends and
hashtags sporadically used
• Likes
– Can affect friends seeing a post
• Replies
– Can affect friends seeing a post
• Shares
– Most likely to be seen by friends, but
impacted by view chosen
Twitter
• Privacy: Public
– Most posts by users are publicly
available and hashtags widely used to
categorize posts
• Likes
– Affects popularity in search results
• Replies
– Only seen if follow both accounts
• Shares
– Shown to followers, but streams are
real-time

17. Not All Engagement is Equal
Number of Posts / Number of Comments
(or Replies) = Conversation Rate
Posts / Number of Retweets
(or Shares) = Amplification Rate
Number of Posts / Number of Likes
(or Favorites) = Applause Rate

18. Three Kinds of Campaigns:
Different types of campaigns. Each highlights different objectives and KPIs
on their scorecard:
1 Awareness
2 Engagement
3 Acquisition

19. Awareness
Awareness: How many people do we reach?
– Measurements include:
– Impressions
– Organic Reach
– Promoted Reach
– Ad Reach
– Buzz
– Share of Voice

20. Consideration
Consideration: How is the campaign being received and are we leveraging any
influencers detractors?
Measurements include:
• Sentiment
• Clicks
• Comments/Replies
• Shares/Retweets
• Completions [Video/Quiz/activity]

21. Conversion
Conversion: How many people completed the action we predetermined during
the objective phase?
Measurements include:
• Application Starts/Submits
• New Accounts
• View a video segment in its entirety or
for :30+?
• Lead Form/Inquiry Completion
• Referral to MLO or Wealth Manager

22. Scorecards Vary: Consistently

23. Scorecards Vary: Consistently

24. Make Business Decisions with Social Data
Social Data is Business Data
If you ONLY use social data to measure
social performance YOU ARE MISSING
THE MOST POWERFUL INSIGHTS.
Social Data is an inventory of
conversations of every conceivable topic,
product, or idea
Inventory varies. The more specific the
topic is, the more further backwards in
time you’ll need to look.

25. Challenges measuring the impact of social
• It’s easier to measure activity than impact
and intent.
• The path from volume-based metrics
(volume of impressions, engagement and
clicks) to conversions is long and winding.
• Social activity today represents future
revenue opportunities.
• Social metrics are often gathered and
utilized at the end of a campaign.
• Integrating social metrics with offline
performance metrics can be challenging
All Business is Social Business
Social Funnel
Engagement
Sentiment
Buzz
Impressions

26. Opportunities measuring the impact of social
• Attaching brand awareness to impressions
demonstrates the impact of social content
– Unaided/aided brand awareness (+/-)
• Attaching brand perception to sentiment,
demonstrates the influence of social content
– Brand perception (+/-)
• Attaching brand attachment to engagement
demonstrates likeliness/intent to buy
– Brand attachment (+/-)
Integrated
Social Funnel
Consideration
[Engagement]
Attachment &
Perception
[Sentiment &
Buzz]
Awareness
[Impressions]
Socializing the Brand Funnel

27. Meet SessionM
SessionM: A loyalty and engagement platform
• Reaches more than 100 million
consumers monthly.
• Personalized, opt-in experience that
rewards consumers for their
participation.
• Users get rewarded with mPOINTS, a
universal currency
• Consumers redeem those mPOINTS
for gift cards, merchandise, entries
into sweepstakes or charitable
donations

28. Brand Perceptions of Customers
1. MEASURE BANKING BELIEFS & HABITS
• Leverage customer segmentation within
SessionM’s mobile audience to measure
effectiveness of social content
• Pre- and Post- Measurement:
– brand awareness (+/-)
– brand perception (+/-)
– brand attachment (+/-)
• Benchmarking against competitors
identified by customer segment

29. How Social Content Moves Customers
2. SHARE SOCIAL CONTENT & CAMPAIGNS
• Measure the overall effectiveness of
social campaigns by delivering all
content to customers.
• Measure the effectiveness of
individuals videos, posts, and ads
among customers
• Pre- and Post- Measurement:
– brand awareness (+/-)
– brand perception (+/-)
– brand attachment (+/-)

30. Participant Survey
3. MEASURE THE IMPACT OF SOCIAL CAMPAIGNS & CONTENT
Integrated
Social Funnel
Consideration
[Engagement]
Attachment &
perception
[Sentiment &
Buzz]
Awareness
[Impressions]

31. Advantages to This Approach
• Meaningful brand metrics for all social campaigns and content.
• Provides benchmarking against key competitors
• Tactic can be adapted to leverage other target markets
• Tactics can be expanded for all digital marketing tactics
• Limited/no additional funds required to implement.
Program Benefits:

32. Thank You
Troy Janisch, Director of Social Analytics, US Bank
Troy.Janisch@USBank.com
@socialmeteor
www.socialmeteor.com

33. Learn more about past and
upcoming events
SOCIALMEDIA.ORG/EVENTS
SOCIALMEDIA.ORG/SUMMIT2016ORLANDOJANUARY 25–27, 2016