The Big List Blog
The one social number you need to know — Live from the Measurement Pre-Conference
9:36 — David asks how best to measure social impact. He will share his 7-year journey with the Ph. D.’s at Northwestern University.
9:37 — David’s plea: Give your left brain a break for this presentation.
9:38 — In 2006, his goal was to determine which social media metrics correlated to sales. The things that were easiest to measure — buzz, sentiment, influencers, etc. — didn’t really matter to social shares.
9:39 — David: The way people have relationships with people is the same way people have relationships with brands.
9:40 — David and his team discovered two things: A number and the process of the relationship: a pyramid. The Partnership Pyramid parallels human relationships. From bottom to top of the pyramid: Me, Let’s See, and We (bonding).
9:41 — David: The pyramid is a fluid relationship.
9:42 — David shares an example of his first dates with his now-wife. He compares his developing relationship with her with the way people connect with brands. The relationship is the same.
9:44 — You can measure the depth of the relationship by the depth of the recommendation. Linguistics also play a role in the strength of the recommendation. People can only have a true, deep relationship with one brand.
9:46 — David calls this the Net Recommendation Score.
9:47 — David shares the Netflix example when they changed their prices in 2011. Their sentiment went down, buzz went up, and the Net Recommendation Score ultimately went up. The customers that had a strong relationship with the brand came to Netflix’s defense.
9:48 — Apple actually has as many detractors as they do advocates. The people who drive sales, though, are the recommenders (advocates).
9:49 — In other words, “the heart drives the head.”
9:50 — David shares the Brand Relationship Matrix: How many people are engaged with your brand versus how many people are actually talking about your brand.
9:51 — What do you do as a brand if no one is talking about you? You create something customers can connect with so that they will feel like a part of the brand.
9:52 — How does all this relate to metrics? Take a look at your current social metrics from each point of view of the pyramid and integrate those with the Net Recommendation Score.
9:54 — David says you can also use the pyramid to benchmark and cross-analyze your social campaigns.
9:55 — To summarize: How to best measure social impact: Think about how to move from “me” to “we.” Think about the different stages of your customer relationship and how to move those forward. Have you built a “we” relationship?
9:55 — One final question: What kind of partnership are you going to build?
Q & A:
Q:How do you automate this process?
A:We automated the process at Northwestern using an algorithm for the net score that we integrated into our clients’ dashboard software.
Q: What’s the difference between brand sentiment and brand advocacy?
A:I like a lot of brands, but how many of those brands am I actually going to recommend to a friend?
Q: Have you tested how this plays in a global market?
A:It’s very hard to do it globally, but we have done it in the healthcare category. The way people talk about health is very different. To do it right, you need to dedicate a large amount of time with linguistic experts to make sure the algorithm is built correctly. So, you can do it, but it’s not easy (or cheap).
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