You are on page 1of 15

Tracking Social Media ROI

Viewing Spectrum Analytics


Marshall Sponder – Webmetricsguru.com
now.seo@gmail.com
@webmetricsguru
09/05/2010

pg 1
two dimensional formulas in order to calculate Social
An Introduction to Spectrum Media ROI, even though it is tempting to do so, before
Analytics for Social Media ROI we are able to capture the information to put into those
formulas. While we can reduce a business’s financials to a
Social Media is a fairly new communications medium and
series of formulas that calculate profitability or loss, which
activity that is often considered to be “free” and available
is fairly well instrumented by accounting software and
to everyone. With abundant free and low cost tools and
CPA’s and best practices have been for hundreds of years
platforms to create, promote, monitor and analyze social
(for the sake of investment and profitability), it’s much more
media content businesses and individuals, excited about
difficult to do the same thing for Social Media ROI (which
what Social Media can do for them, too often assume that
is only a few years old).
measurement of Social Media can be taken care of as
more of an afterthought.

Why I wrote this paper, finding


In the past estimating Social Media ROI was acceptable,
Ultraviolet Data Nuggets and
increasingly that is no longer the case as outlined by
Rainbow Analytics
TheBrandBuilder, Oliver Blanchard1. As CMOs and CEOs
have started to seriously consider Social Media as an
Over the past year I worked with Cecilia Pineda Feret4
effective marketing medium, they also seeking a similar
analyzing the web site and social media of the Havana
level of precision in Return on Investment (ROI) metrics
Central5 restaurant group with a few locations in
they have gotten from Direct Marketing. Everyone is
Manhattan. We attempted to provide ROI information
attempting to devise a framework for their company’s
to the owner of the group and we regularly discussed
Social Media ROI, but the challenge is somewhat different
the challenge of tracking our efforts for the company,
for each business and industry.
the brand and the bottom line. For a small business,
tracking and measuring this involves looking under the
What are the metrics; beyond the basics such as how
radar and following over the rainbow to find the ROI.
many Fans and Followers an account has that can actually
Yet, every business has a different pot of golden data
help management manage better? And, of course, what
nuggets (or rainbow pancakes, they’re easier to find!), or
metrics affect the HOLY GRAIL of business metrics: the
RAINBOW ROI (Cecilia Pineda Feret coined this term in
bottom line?
our discussions about Havana Central ROI tracking and
analytics).
Lately, a lot of attention has been placed of formulas
to calculate Social Media ROI. In fact, earlier this year
The usual data on the radar are easy to capture:
Altimeter Group and Web Analytics Demystified shared a
hits, followers, page views, etc. These metrics are
framework for Social Media Metrics and ROI2 addressing
more diagnostic according to Stratigent’s Jennifer
the Marketing Industry Challenge:”I can’t measure social
Veesenmeyer6, allowing you to compare data points
media ROI.” The metrics were generalized to fit into
over time, and against competitors, and so on without
a framework, which I analyzed3 in a series of posts at
necessarily providing any actionable insight into what the
Webmetricsguru.com. I believe the framework is a step in
business should change or keep doing. Additional metrics
the right direction, but much more guidance is needed.
are also required such as knowing results of efforts which
were the most effective in bringing in sales, expanding the
I will even go further by suggesting we avoid talking about

pg 1
customer base, and increasing exposure of the brand.
Acting as an analyst here my insights are usually
connected with data I touch. I reasoned data to prove
Social Media outreach is effective in driving new business
and revenue was available, but we were not able to
capture it. I termed such data as “ultraviolet”, because we
can’t see ultraviolet light, yet it’s present all around us.

I thought about what it takes to capture the information Figure 1 – Compete PRO Referral Analytics Traffic
and tabulate it. When I started this line of thought my goal Dashboard, July 2010 for Industry Category: Entertainment
was not necessarily to solve Havana Central’s problem Guide: Restaurants and Dining8
as much as to prove community management was an
effective income generator for any restaurant chain. I Havana Central’s Referral traffic as detailed by Compete.
decided to create an approach anyone could use to find com shows no traffic at all from Social Networks (low
how much data they were missing and what they could do sample site) and so a marketing goal ought to include
to enable data capture in preparation for Social Media ROI meeting or surpassing the average referral traffic from
based on the need to analyze the full spectrum of data and Social Networks for the relevant category – in this case,
initial discussion of the concept can be found on my blog7. several hundred more visits per month from Facebook
alone would be called for (note: Google Analytics shows
While coming up with this approach we realized Havana some Facebook and Twitter traffic to havanacentral.com).
Central really needed a connection from the business and
how it operates to the customer, and back to the business Similar diagnostics can be obtained from Google Analytics
for tracking via analytics using tactics such as couponing, Benchmarking (when sharing data with Google) based on
secret passwords and perks for VIPs, etc. business type. The charts below show that on average,
Havana Central gets 3.75 times more visits than the
Read on to find out more about the methodology. average restaurant using Google Analytics but the average
restaurant is generating more pageviews per visit (it may
have more to do, in this case, with PDF menus that are
Setting Measurement Goals downloaded but not counted as pageviews or otherwise
tracked by Google Analytics unless virtual pageviews are
Every business falls into some type of category. In order
created for each menu).
to know what is realistic to strive for in relation to Social
Media, it helps to know what the average traffic is and
sites for the category you business is in.

For restaurants, on average 5% of referral traffic to top


restaurants comes from Facebook, 0.16% from Twitter and
.27% comes from MySpace.com according to Compete’s
Referral Analytics Traffic Dashboard for the Entertainment
Guide: Restaurant and Dining Category. (a new offering of
Compete I provided suggestions about early on).

pg 2
for VentureBeat /SocialBeat last year10 suggested Video
publishers had the IAB’s VAST standard to thank for rapid
monetization of video ads that started taking place; I quote
from my article here:

… Monetizing online video has been somewhat


problematic because the technology in place interfered
Figure 2 – Google Analytics Benchmarking of with easy communications between publishers and
Havanacentral.com vs. all other restaurant sites in third party video ad platforms.
Google’s database.
But that’s beginning to change, partly due to the IAB
Using benchmarking tools like Compete, Quantcast, (Internet Advertising Bureau), via the VAST Standard.
Comscore, Nielsen, Alexa and in this respect, Google According to the IAB, VAST (Video Ad Serving
Analytics, is useful in order to formulate some business Template) includes a standard XML-based ad response
goals (which can also turn into measurement goals), for in-stream video and an XML Schema Definition
especially those connected to Social Media, but they (“XSD”) for developers. It’s meant to accommodate the
are not a replacement for direct measurement using site majority of current practices within the online digital
analytics. video advertising business. The gains we‘re seeing
now were almost impossible to achieve until the VAST
In fact, Web Analytics data and Compete.com data almost Standard, which made it easier to obtain end-to-end
never match as the methods to obtain the information in control between ad servers and associated video
both cases are different which accounts for the disparity players (said CEO Tod Sacerdoti)
in numbers of unique visitors, visits, pageviews, etc. In my
discussions with Compete, they have also pointed out their Because we lack standard definitions for influence,
tools are meant to complement, not replace site analytics. conversations, engagement and conversions, to name
It’s also notable Comscore, Compete and Quantcast allow a few, it’s so very much harder to reach an interoperable
JavaScript tags to be added to your website which allow place where all the platforms that need to talk to each
more accurate measurements for you business (but not other, can, in a meaningful way.
necessarily your competitors unless they are also adding
JavaScript tags to their sites). My work at the Web Analytics Association as Board
Director in 2007-2009 led to creating and leading the
Social Media Committee (now-defunct)11; it showed me
Missing Measurement Standards the industry lacked consensus on social media standards
and many of the players I talked to at the time liked it that
The Web Analytics Association released Web Analytics way (standards may be seen by some as a way to stifle
Standards a few years back and there have been similar
9
innovation). I don’t know if that’s still true.
attempts by the Internet Advertising Bureau for Banner
Advertising, Social Ads and Video Ads. Setting up On the other hand, for Social Media to “grow up”
standards may be a necessary step before widespread Standards definitions may be needed; I for one, believe
monetization can take place. In fact, an article I wrote they are very needed and important work is being done

pg 3
in the UK to achieve those standards through the CIPR person do Community Outreach, Management and track
(Certified Institute of Public Relations) Social Media catering orders in a spreadsheet that could work for a very
Monitoring study group and panel , of which I’m an
12
small operation that can live with a manual process but
honorary member. I hope readers will follow CIPR-CP quickly becomes un-scalable.
leader Philip Sheldrake quest to come up with standards
13

for Influence. It also brings up another issue; at what point does


tracking and monitoring roles interfere with going out and
In this paper the lack of standards could mean any generating business? Marketing tasks are often assigned
measures a company comes up with to measure its own to different people/groups for reason; unless those people
social media efforts (hopefully after aligning their business are the same page in every respect that matters how well
and measurement goals and strategies) will be difficult to can we expect them to communicate, or even agree on
apply universally, outside the context a specific business what needs to be done, needs to be tracked and how?
that came up with their own measures.
The communications process is often too taxing for many
That is OK for the short term, but in the longer term, we SMB’s and it’s difficult even for large corporations but
need consensus on what we measure and how to put larger businesses are usually willing to make strategic
that measurement in place. Once we have that, Rainbow investments in messaging technology, business and social
Analytics will be much easier to achieve. media measurement processes while SMB’s, often just
trying to survive in difficult economic times, cannot or
are unwilling to try. It might seem that communications
Aligning Business Processes to problems (such as two individuals being on the same
Measurement Goals page) would be easy to solve, but it’s usually not the case.

A common challenge for Social Media Measurement and Another example from my experience working with Havana
the biggest roadblock finding the data nuggets under the Central was creating and fine tuning Radian6 Alerts in
radar and over the rainbow are business processes that order to know when customers were in a location and
are unaligned with a business’s goals for measurement. offering them a drink14 (or a coupon, which was never set
up). I saw the potential here but got frustrated with the
One example, obtaining Requests for a Quote (for a results.
potential catering) which corresponds to a page on the
Havana Central site (monitored by Google Analytics on You can’t blame it on software, automation (Radian6,
one side and back end email request on the other) typically FourSquare and Facebook Places to name a few) took
require communications between a marketing assistant care of knowing people are in a venue by sending us email
and community manager (communications didn’t happen alerts (a measurement goal for Social Media attribution);
often enough or were too difficult to maintain). but the business goal of Brand Awareness and Customer
Loyalty (which are much harder to align and scorecard)
Catering jobs generate several thousand dollars of income, was not aligned with the measurement strategy I came up
per job, to the bottom line, but the business process with (getting management to be on the same page with
wasn’t yet aligned to the measurement goal (attribution of business and measurement strategies is the subject of
a referral to outreach). One solution is to have the same several books onto itself and I’m not going over it here).

pg 4
rest of the organization). At least, that’s how it looked to
Testing this approach in the real world of a NYC restaurant me.
chain we found no systems in place yet to incentive very
busy struggling restaurant managers, waiters and waitress Each part of an organization has its own goals and
(who need to be trained and often change jobs) to gather methodologies to serve its own purposes and to get work
the information (a customer is in a location, greet them and done; weather those purposes support or interfere with
offer a coupon) and record it in such a way that it can be accurate measurement is up for you, the reader, to decide.
attributed to Social Media and then tabulate into an ROI
metric. Specific middleware to record the transactions was In fact, just about every business unit, every company,
also missing. every corporation, every city, state and every country
have the same exact communication issues around goals
This lack of alignment is the biggest problem we have as and strategies, and as we have seen throughout our
the tools are in place to measure most of what we need civilization’s history, this is not an easy problem to solve.
already and plenty of people have come up with measures Maybe the best way to look at our differences as stepping
for Social Media ROI, but there’s almost succeeding in stone to better way of communication that serve us all
defining and aligning the social media dimension of your (once there is enough consensus and people in place at
business goals to your overall measurement goals leading the top that can focus business and measurement goals,
to the common result of Social Media ROI that cannot strategies and policies).
be accurately defined or measured (but is sometimes
estimated); several people are working on this problem
right now but no one I know of has solved it.

Everyone reading this paper can likely attest to many


instances of the very same alignment issues in their own
organizations, once you step back and think about it.
There may be several valid reasons why your business
strategies aren’t aligned with measurement strategies; for
example, when I worked at IBM.com (2003-2008) we were
usually unable to track marketing and search optimization
activities all the way down the sales channel.

Part of the problem was traced back to technology


(accounting systems that don’t speak to each other),
another part were was sheer volume of activities and
people (finding the right people in each part of IBM to talk
to each other was problem) but the biggest issue did not
turn out to be technology, as much as it was business
processes for sales organization appeared to be different,
and in conflict, with the measurement goals of the dotcom
(IBM.com operates as a separate business unit from the

pg 5
Figure 3 – Radian6 charts showing Social Media Buzz
Measurement of Havana Central Times Square location Why Social CRM is needed
vs. neighboring restaurants Blue Fin, Heartland Brewery,
Carmine’s Times Square, and Bond 45. The chart on the Over the last year Social CRM has quickly evolved as
right shows the number of twitter followers of those who means to connect Social Media Chatter to existing records
tweeted about each restaurant in the last 3 months and in Salesforce and other CRMs. This space is quickly
where they are located by region. Note: this chart shows becoming one of the hot topics in Social Media Monitoring
aspects of Brand Awareness for the 5 restaurants surveyed and will be subject of a future paper by the author.
here.

Closing the Gap and Finding the


Finding the right middleware to Rainbow
record results
Data can be collected from Social Media Monitoring
This lack of alignment is the biggest problem we have platforms like Radian6 easily enough, but connecting a
as the tools are in place to measure most of what we visitor (a social media awareness goal & a measurement
need already and plenty of people have come up with goal) with increased sales by restaurant location generated
measures for Social Media ROI, but there’s almost from social media customers as a result of social media
no one succeeding in defining and aligning the social outreach (a business goal) takes a level of middleware
media dimension of your business goals to your overall (Social CRM, covered in the previous section) plus more
measurement goals leading to a common result of Social buy in and patience from management (it’s often a hard
Media ROI that cannot be accurately defined or measured combination to come by).
(but is sometimes estimated); several people are working
on this problem right now but no one I know of has solved Also needed is a way of connecting monitoring platforms
it. such as Radian6 and the backend check receipts; today is
only being envisioned and no one that I know of has done
it yet. While this paper focuses on restaurants with its
focus on location, check-ins, cash receipts, catering and
reviews, the same process can be applied to any business
with slight modifications.

Barcode / QR code readers, RFID and Geo-fencing are


expected to close the gap for restaurant venues in the next
two years but the software to connect all this data must be
Figure 4 – part of the authors’ visualization of a Radian6 CRM aware and I expect the role of community manager
date export of visits by Twitter Accounts to any Havana will evolve into Relationship Management within the
Central location from June 09-June 10 (anyone checking in next 18 months. Acquisitions by Scout Labs by Lithium
via FourSquare, or tweeting they were eating at one of the Technologies, Radian6 partnerships with Salesforce and
locations), see http://www.webmetricsguru.com/category/ recent enhancements by Alterian around the SM2 platform
social-media-case-study-havana-central/ for more details. are just the beginning of the tip of the data iceberg lying

pg 6
under the surface, just waiting to be tapped. example, each tweet about eating at the restaurant can
be estimated to be worth over $100 based on the average
order size, the average party size and the average price of
Getting Started by Performing a a meal).
Social Enablement Audit
Estimating Social Media ROI is useful when you make a
The only way to know how much precious data your decision to expand or retract a marketing initiative but is
business has in the unseen spectrum is to audit your not a replacement for actual ROI measures that are tied to
data. Specifically, list all the sources of data your business a transaction.
has and what campaigns and marketing initiatives your In another case, traffic and possible marketing efforts
business is running. This table shows data from Havana directed at the VIP page of the Havana Central restaurant
Central. site15 can be expected to appear in Google Analytics and
Google Adwords (when ads are run) but not anywhere else.

Figure 6 – How enabled are we for Social Media ROI?


Figure 5 – Social Enablement Audit of Havana Central
I put all the data sources vertically and all the campaigns, Most data is collected in Silos16, it’s pretty much always
including website promos and pages horizontally. Note, the been that way and is getting worse according to Robert
x- and y-axis could be reversed easily. Scoble17. Applications are designed to provide specific
functionality and data are collected around it, but usually
By conducting an audit of all the available data sources applications aren’t designed to integrate with anything else
within in the context of all the known marketing campaigns – in this case, we don’t expect a reservation site such as
and initiatives, we learn what information we have, where Opentable, handling most restaurant reservations to have
to find it, what format it is in and the level of difficulty data on Community Management outreach of the VIP page
in overlaying data in order to create Social Media ROI of a website.
metrics we need.
For Social Media ROI calculations that are tied to an actual
In this example, data validating community management transaction that takes place at the restaurant or its online
shows up partly in Google Analytics and Radian6, but site we need a logical way to overlay data, using what is
will fail to appear anywhere else. It is next to impossible commonly called a common key18, that currently doesn’t
without a guaranteed tie into a revamped business process exist in this business context. Figure 6 suggests, based on
to track the actual dollar value to the outreach being done the Enablement Audit that 82% of the data is “ultraviolet”
in behalf of the business, though one could estimate it (for or invisible (or, not able to be combined because a

pg 7
common key does not exist).

One approach used by large corporations is to overlay


data into Data Cubes or data warehouse where all the
data you have can be imported into a Cube19, but usually
the resources to pull something like this together are
beyond reach of most businesses, including those who
want measure ROI the most, small businesses and even
PR Companies doing social media programs as part of
Public Relations and Marketing (in behalf of their clients). Figure 8 – Data Coverage

Brick and mortar SMBs who could not possibly conceive, In the process of doing a Social Enablement Audit you
afford or execute such a data cube even though they may might find that you are not collecting all the data you
actually require one, but once your data is in the Cube you needed; in this case you may not have some data that you
can perform analysis that could uncover ROI and customer need in any form and in any data source. The best way
behavior that is not ordinarily visible. to find out if you missing collecting data is to compare
your data sources to each other. As you examine your
data you may find there are some things you want to
know that no application is tracking at all and this will
drive new solutions for your business. What we’re trying
to find out here is how compatible is the data being used
to run your business to each other and how easy is it
to integrate information. Typically, applications are not
created to integrate and the data within each source and
Figure 7 – slices of a data cube are frequently incompatible with each other.

Given the lack of the needed common key (in this case, One attempt to answer the compatibility problem was
a common record locator for every record in Google Adobe (formally Omniture) Open Business Analytics
Analytics, Opentable, SeemlessWeb, Email Marketing, etc) Platform20 using Web Analytics as central point to unify
in many data sources – information needed to populate the disparate applications such as Radian6 (one of our data
data cube is going to be spotty, noisy and in other cases sources), several different Content Management Systems,
hard to translate it to the right structure to be effective. Salesforce Customer Relationship Management (CRM) and
According to Gary Angel, the CTO of Semphonic, when even Opentable, using Omniture for their own marketing
you integrate data into a data warehouse, you open up analysis, (using Test and Target) within Site Catalyst, but
new questions, targeting opportunities, and analysis all of these require a lot of money and time that do not
methods that otherwise doesn’t exist19. make sense to implement for most small business (not
until someone comes up with a suite of tools for low end of
the market that makes data integrations much easier and
inexpensive).

pg 8
Supposing you could integrate all the data you need into could use the data to analyze their sites, but most
a cube, would the resulting reports lead to insights not businesses didn’t know how to define their business goals
ordinarily obtainable? I think so, but it will depend on how and translate them into measurement goals and align their
well business processes are translated in to the matching organizations so that real analysis could happen with the
reports via a clearly defined measurement strategy, result good analysis was done, but rarely.
mentioned earlier, and gifted analysts needed to make
sure they do. Hopefully, business will also learn how to Around 2005 things got to be more interesting with a
listen to what the analysts have to say when they are able convergence of sorts including Flash and Ajax tracking
to come up with marketing insights and give them a seat evolving, but again, most organizations aren’t yet able,
at the table which they traditionally haven’t had in most willing or think it’s too expensive to translate what they do
organizations. and what they want to track into what these tools can do
and what they can track, and as a result much data and
I believe it’s time to consider doing similar enablement insight is lost.
for Social Media that we more typically perform for Web
Analytics (with extensive page tagging often required to As social media began as grassroots, peer to peer
pick up specific customer behavior, often a measurement expression of communications between friends and fans,
goal). etc, this kind of integration had not lent itself to being
instrumented in the same way Site Analytics evolved but
it’s only a matter of time until it does get instrumented,
much as Web Analytics has. As corporations are going
more social, so are SMB’s. Parallels between Social Media
Measurement and Web Analytics suggest convergence
and the possibility of actual ROI measurement once
business goals are merged with right measurement goals.

With geo-location coming into the mix and checking in


quickly becoming the universal currency, it may become
easier to integrate social media with the rest of the data
Figure 9 – Stages of Web Analytics Evolution from Judah sources – and the cost and complexity will decrease on
Phillips deck on Webanalytics congress the Netherlands, the low end, making possible for SMB’s to have a plug
Amsterdam June 2nd 2010, slide 14 . 21
and play solution within the next two years. However,
translating your business process, connecting the Data
In the beginning of Web Analytics circa early 1990’s basic Rainbow back to measurement will be required even in
diagnostic data is all that could be collected and today, streamlined solutions, leaving room for a lot of creativity.
many businesses are capable of tracking much more than
this (with proper enablement) but settle for using the basic
gauges of visitors, visits, pageviews though little insight Finding Data Nuggets of Gold
into business can be obtained this way. under Data Rainbow

At the turn of the century analytics improved and business It’s my belief we do not achieve actual Social Media ROI

pg 9
unless we can segment social media activity and associate
it across data sources and marketing channels back to
pancakes!)
actual revenue. In fact, most business and consultancies
In order to know what can and can’t be combined to
have no idea how to start, which is why it doesn’t happen
form Social Media ROI we need to look at the data we’re
often, if it does at all.
collecting in greater detail – assessing what we actually
have to work with.

Figure 11 – A Opentable Report

An Opentable report as it is currently generated is almost


impossible to attribute to Social Media outreach there’s
no common key to associate with a visitor from Facebook
(unless the application tracks that). Opentable tracks
website visitors that came from Havana Central, but there’s
no way to count how much of it was Social Media related
in the reports they provide to business owners.
The same problem arises with Grubhub, a popular
Restaurant Search utility.

Figure 10, Example of a Data Rainbow

Only a fraction of the data we need to collect to track


Social Media ROI is actually being saved (or seen) in a
way that can be analyzed and connect to Social Media
Figure 12 – A Grubhub report
Marketing initiatives. The chart above shows some of the
individual silos of data for Havana Central (the different
The Grubhub report has no common key except a date,
data sources above might can be termed silos for the
everything else is tied back to internal databases that are
purpose of this paper).
not accessible (i.e.: ID number), no easy way to tie back to
Google Analytics (unless we can put tracking code into a
Grubhub instance, which is really hard to do for third party
Looking at the Data in our Silos
applications like Grubhub and Opentable).
for data nuggets (or rainbow
pg 10
Radian6 reports that monitor Buzz around the restaurant used to link all the transactions together it’s still possible to
do offer possibilities to tracking what website visitors do fill the gaps with third party applications and ingenuity.
on your website through its integration with WebTrends
and in your business location via Salesforce.com but
few businesses have adopted those integrations to my Finding Solutions to Bridge the
knowledge. Gaps

As these Social Media targeted integrations exist at all


but are rarely adopted, suggest businesses are too often
unaware of the choices they have before them when
they formulate their business goals and measurement
strategies and often choose unwisely or fail to choose
at all. In any case, while your Social Media campaigns Figure 14 – Measurement Solutions by Campaign or
might be driving a certain level activity which should be Marketing Initiative
measureable, that same activity is invisible to the reports
you can currently pull from Opentable and Grubhub, Taking a closer look at a specific marketing initiative
Google Analytics, Facebook and even Radian6 without against the sources of data available can drive solutions
deliberate measurement enablement and the alignment of where missing data can be added in when it’s missing.
your measurement strategy with you business strategy. Look at your campaigns and marketing. Figure out how
to add the additional enablement that would allow you to
track the Social Media ROI of a particular activity such
Comparing data dimensions as somebody downloading a menu if they came from
and combining them in the Data Facebook or Twitter.
Rainbow

Bridging the Data Gap Example


– Connecting Facebook and
Opentable for Data Nuggets

Figure 13 – Data Dimensions comparison


Figure 15 – Finding ways to connect Opentable with
In the chart above I highlighted in green dimensions from Facebook
different data sources that might be able to be combined
to get that Rainbow view and insights derived. We know You may need to develop or find 3rd party applications
by now the vast majority of data being collected cannot be capable of bridging the gaps found using this audit
combined based on the example above. While your data process. While we can enable Google Analytics/FB
will too often be missing that common key that can be connection –we still need a Content Management System

pg 11
that connects a website, Google Analytics and Opentable 2) Most businesses, esp. SMB’s are not yet ready to fully
and Google Analytics can act as a go between. implement the data audit methodology. Someone needs
to come along and make the process easier for them, and
more streamlined, before this is going to happen on an
SMB level. I suspect a streamlined implementation of data
audits will differ somewhat based on business verticals.
However, within each vertical there will be enough
similarities to standardize and streamline (i.e.; most
restaurants use Opentable and SeemlessWeb and should
be part of the solution for this vertical, but perhaps not
for other types of retail establishments like Supermarkets,
clothing outlets, Travel Sites, Hotels, etc, which will need
different sets of data feeds and metrics).

3) Depending on an actual SMBs’ goals, what you are


measuring may be different for another SMB, even in the
same or another industry. The challenge here is to capture
the data that is not immediately seen or considered and
BTW, in the process of detailing needed capabilities our relatable back to a Social Media effort by linking your
audit concludes the best enablement would be rebuilding measurement strategy and goals with your business
that website (ouch!) with a CMS (SiteWrench CMS) that strategy and goals.
can handle Opentable & Google Analytics integration22.
4) To capture this data, we need to perform a complete
audit of efforts made. It may be a time consuming task
depending on the size and complexity of the business, but
for the moment remains the best way to fully consider and
fully integrate efforts across multiple platforms.
Conclusions:
5) The best place to integrate all the data sources for
1) “States of Readiness” for Social Media ROI Analytics your business is within the analytics platforms such as
implementation are very similar to those for Web Analytics, Google Analytics, Adobe Site Catalyst (formerly known as
where there are various levels of participation using the Omniture) though other solutions such as Spredfast are
tools currently available. For example, Radian6, Salesforce available.
CRM and WebTrends integrate but most businesses are
not ready to take advantage of it yet. Once business 6) You need to work with your web developers,
moves from past collecting basic diagnostic data, they programmers, product and sales teams to enable tracking
can begin to merge their business strategy and goals of certain actions to ensure that your efforts are being
with specific measurement strategies and goals and the tracked and what meaning you assign to them other than
measurement of Real Social Media ROI can begin. just collecting them on a periodic basis like many continue
to do.

pg 12
4. http://www.linkedin.com/in/ceciliapinedaferet Cecilia
Pineda Feret’s LinkedIn page.

5. http://www.havanacentral.com Havana Central Website

6. http://www.stratigent.com/news-and-events/pimp_
your_reports/default.html Stratigent’s Pimp Your Reports
program which I recently attended

7. http://www.webmetricsguru.com/archives/2010/08/
on-360-degree-analytics/ - put forward that most of the
interesting data that proves Social Media is working is
invisible to the naked eye – or “ultraviolet”. However, with
the right devices and mythology the data can be seen and
quantified

8. http://www.compete.com/referrals/referrals/
category/3037/?threshold=1
What you’ll find at the end of the Data Rainbow …… Yum!
(Amanda - http://iammommy.typepad.com/my_ 9. http://www.webanalyticsassociation.org/resource/
weblog/2009/10/rainbow-pancake-sugar-cookies-winnie- resmgr/PDF_standards/WebAnalyticsDefinitions.pdf
the-pooh.html)
10. http://social.venturebeat.com/2009/11/29/brightroll-
says-video-ad-profits-are-soaring/
Links
11. http://www.webanalyticsassociation.org/?c_
1. http://thebrandbuilder.wordpress.com/2009/05/29/how- reorganization
to-not-calculate-social-media-r-o-i/ Oliver Blanchard has
written several posts and a popular SlideShare presenting 12. http://www.cipr.co.uk/content/cipr-social-media-
his views on what is and is not Social Media ROI. measurement-group-launches

2. Altimeter Report: Social Marketing Analytics (Altimeter 13. Phillip Sheldrake on Twitter @sheldrake
Group & Web Analytics Demystified) see http://www.web-
strategist.com/blog/2010/04/22/altimeter-report-social- 14. http://www.webmetricsguru.com/category/social-
marketing-analytics-with-web-analytics-demystified/ media-case-study-havana-central/ The author was often
frustrated why we could not go further here.
3. http://www.webmetricsguru.com/category/social-
marketing-analytics/ - there are actually 8 posts I wrote on 15. http://havanacentral.com/vip.php
the subject, not all show up with this URL.
16. http://management.about.com/od/businessstrategy/a/

pg 13
DataInteg02.htm

17. http://techcrunch.com/2010/06/03/location-2012/
Robert Scoble argues massive amounts of Geo-Location
data is being collected in Silos when it would be better for
consumers the data was shared across all vendors.

18. http://analyticsinsightblog.stratigent.com/2010/09/
centralize-your-data-using-adobe.html The article
suggests Web Analytics platform Site Catalyst is one place
where it’s possible to pull together data from disparate
sources into actionable dashboards and reports.

19. http://semphonic.blogs.com/semangel/2010/06/
further-thoughts-on-data-warehousing.html - Gary Angel
suggest 3 dimensional arrays open up new questions,
targeting opportunities, and analysis methods that
otherwise don’t exist.

20. http://www.omniture.com/en/products/open_
business_analytics_platform Adobe Omniture Open
Business Analytics Platform.

21. http://www.slideshare.net/webanalisten/webanalytics-
congress-the-netherlands-amsterdam-june-2nd-2010-
judah-phillips

22. SiteWrench CMS – this CMS seems to have it all.

pg 14