Determining Social Media Influence & ROI

Few Digital Marketers report seeing any ROI from social media efforts, but nearly all of us have that as a key goal—so what is the best way to do it?

We all know social media is real, huge, and it is here to stay. Your customers are learning as much—or more—about you from interactions with each other than from your well-crafted corporate messaging. Our customers tend to report these specific challenges in determining their social media efforts:

  • Getting more people to talk about you: which social sites should you actively support?
  • Balancing control of your brand vs. free & open discussion
  • Keeping social media from becoming a glorified help desk/public complaint forum
  • Tracking that elusive ROI on social media and unstructured text input

 

So, how do you take control of your social media presence? How do you answer these key business questions?

  • What was said?
  • Where was it said?
  • What is it about – product, service, brand, experience?
  • Is it a common sentiment?
  • What are the trends on this topic?
  • Who said it?
  • What is their Value?
  • How engaged are they?
  • What is their Influence?
  • How do I respond?
  • Were my responses effective?

The key to finding ROI from Social Media: Identify, then influence the influencers! We see it as a three-step process: Listen. Analyze. Respond.

Step 1: Listen.

Once you’ve established a social media presence, it’s time to monitor the sentiment of what is being said out there. In the old days, this was a labor-intensive, manual process. However, there are now many, many companies out there who track sentiment automatically. Some key partners with Teradata are:

These companies will help you monitor social sites for brand or customer relationship management and often separate from marketing campaigns but can influence marketing strategies. And all of them integrate with Teradata technology for the second step...  

Step 2: Analyze

What should you analyze from social, and what does that mean? Digital Marketers need solid metrics that are meaningful:
  • Not just number of fans, followers and likes
  • Your typical reporting tools provide basics with no context
  • You need to understand that this data is mostly useless
Analyze

Specifically, your goal should be to identify the top social influencers associated with your company.

Here’s where Teradata can really help you learn:
  • Who is most actively posting about you?
  • Where are they posting?
  • Who is seeing those posts?
  • What actions are they taking on your site as a result?
  • What actions are they taking via your company’s other channels?
  • Even more specifically, what paths are they taking on your site?
  • Are they converting, or getting lost and abandoning?
  • What are the optimum characteristics of the most highly converting social participants?

How is this done?

Teradata Aster offers Social Network and Relationship Analysis, which is the analysis of user behavior, intent, and actions across social media, tied with search, ad media and web properties to drive increased ROI for digital media marketing efforts. First, we help you see the network with a Link Analysis to view and predict connections among people, products, etc. that are likely to be of interest at known connections. Then, we can run an Influence Analysis to identify clusters and influencers in those social networks.

  • SQL-MapReduce® function for Graph Analysis eases and accelerates analysis
  • Has the ability to store and analyze massive volumes of data about users and connections to find those key influencers
  • Ability to combine multiple data sources in one system increases power of analysis

We use these new types of ‘Big Data’ Analytics tools:

1. Pattern Matching Analytics – Aster Data nPath

Identify and make known implicit connections between individuals. Behaviors reveal stronger links than explicit Facebook or Twitter networks. Transaction and interaction data reveals true patterns of social behavior

  • Call data records reveal “friends and family”
  • Credit card transactions reveal “lunch buddies”
  • E-mail traffic reveals “work groups”

Social pairs or natural social networks become a foundation for social behavior segmentation

Pattern Matching

Operates on Ordered Data

  • Each row in the input data set is a sequential interaction or transaction
  • SQL-MapReduce uses SQL for set-based processing to generate the input data set

Looks Across Data Rows for a Path or Pattern

  • Analyst selects an outcome of interest
  • Goal is to find all the combinations of steps (e.g. patterns or paths) that end in the outcome
  • nPath efficiently, in a single pass through the data executes this analytic logic

Output of nPath Is Flexible

  • Explicit path: a then b then c
  • Sum, count or aggregate of the instances of all of the same paths/patterns
  • MapReduce used to dynamically bind structure to data on execution

2. Graph Analytics

  • Traverse connections to understand influence
  • Measure influence and virality
  • Target social influencers
Social Graphs

Operates on Any Transaction or Interaction Data

  • Identifies the individuals or nodes in a network
  • Identifies the relationships or edges in a network

In-Memory Graph Structure Allows for Graph Analytics

  • MapReduce creates a graph object that can then be traversed for analysis
  • Traversal of the graph is non-trivial even for simple graph analysis

Output of Graph Analysis Is Flexible

MapReduce used to dynamically bind structure to data on execution

Bottom line, once you’ve run these analytics up against your web site clickstream data, you will have a list of key social influencers—your gold mine. But what do you do with them once you’ve identified them? Move on to the next step:

Step 3: Respond.

Now is the fun part—using our Aprimo Integrated Marketing Solution Suite (or your favorite marketing CRM tool), you reach back out to those key influencers:

  • Messaging that will appeal specifically to them
  • Incentives for sharing via their own social media channels
  • Offers they can’t refuse!

You would use Teradata Aster’s Pattern and Graph analysis to measure the changes in web pathing that result from these outreach efforts, and you can track success via your own campaign management tool, or using the following offerings from Aprimo:

And ideally, you will use a tool like RTIM (Aprimo’s Real-Time Interaction Manager) to leverage inbound customer website interactions in real-time to deliver customized, personalized messages to the customer according to your business objectives. So those key influencers get unique messages when they are recognized to come back to your website.

So to summarize how it all fits together...

Summary

Now it’s your turn—come talk with Teradata about how we can help you finally start showing ROI from your Social Media efforts. It’s not as difficult--or expensive—as you might think. Let us show you how to get started. Click on the ‘Contact Us’ link to the right to set up an appointment, or on the links below to get more information.