What’s becoming very apparent as I assess the various wine blogs is the need to be clearer about my social media objectives.
Once I’ve outlined exactly what my objective is I can also define a specific measure of success and hopefully which blogs are best for which objective.
Social Media Strategy
As I reviewed various commentators’ thoughts I started to see a pattern.
So I’ve had a go at showing the interplay in the diagram below between Social Media Objectives, Success Metrics, the Paid/Owned/Earned continuum, Types of Media, and the Marketing Funnel.
Social Media Diagram
- I’ve put some more traditional marketing and retail goals to the left, i.e. branding, engagement, information gathering, purchase and customer service (Corcoran 2009).
- Then some ways to measure success or “metrics” (Owyang and Lovett, 2010).
- Followed by various types of social media (yep the top ones aren’t really social media).
- Lastly a marketing funnel of Awareness > Consideration > Preference > Purchase > Loyalty to the right (Green, 2009).
The idea, for example, is you’d say I want greater immediate Purchase, so I’ll focus on getting more Unique Customer Reviews by asking my customers to share their thoughts on my website about various types of wine.
Or, no one knows me so I need to do some Adwords advertising to pay for some Awareness.
But I didn’t quite get there
What I wanted to show was that Blogs could actually do more than just Information Gathering and Preference. To do this I would put a graphic to show that Blogs had an effect on a number of objectives.
The trouble is yet another shape on this diagram started to make it even messier! So I’ll keep editing this diagram until I can better show how various types of media can do more than one thing.
Let’s go through some of the concepts outlined in the diagram before we return to objectives.
Paid vs Owned vs Earned Media
One concept that may not be well known is the Paid vs Earned continuum. Here’s how Sean Corcoran from Forrester Research puts it:
- Owned media: a message delivered from a company to consumers through channels controlled by the company (such as corporate Web sites and microsites)
- Paid media: a message delivered from a company to consumers by paying to leverage a channel not controlled by the company (mainly in the form of advertising)
- Earned media: a message about a company passed between consumers as a result of an experience with the brand.
- Positive organic: unprompted and authentic communication about a positive experience with a brand.
- Brand stimulated: communication about a brand that is prompted or incentivized by the brand (e.g., through contests or providing product samples).
- Spurned media: unprompted communication about a negative experience with the brand.
The idea is that Owned and Paid media are the foundation to achieve the much more valuable Earned media.
Here’s a table that Sean uses to show the Roles of Earned, Owned, and Paid Media:
So we’ve looked at the roles and different types of social media. Let’s look at how to measure their success.
The Social Media Metrics
A couple guys, Owyang and Lovett, came up with a series of social media metrics.
It’s a pretty impressive report. They outline social media types, the ways to measure it, and which social media analytics and/or monitoring software can do what (okay it’s interesting to me 😉 despite being rather dry, the reference is below).
Here’s some examples of specific metrics from the report:
- Audience Engagement = (Comments + Shares + Trackbacks) / Total Views.
- Active Advocates = (# of Active Advocates in past 30 days) / Total Advocates.
Okay I’m getting really boring now. The point is that you can measure social media.
Back to what this post is all about
I wanted to be clearer about what my social media objectives were before I did any further analysis of the best wine blogs.
Once I outlined exactly what my objectives were, then I can also define a specific measure of success.
Once I had a measure of success then I could make a reasonable call on what blogs were best. And given there were metrics my process could remain open and transparent.
What’s my social media objective(s) and success metric(s)?
All of them.
Damn, this is turning out to be a much longer series of posts than I thought when I first started 🙄 .
Looks like I might have to cover all of them. It would establish a good foundation for my future posts on other social media though – so worthwhile.
What about media types?
I’ve already started with wine blogs…
Drats – I’ve gone straight to the media rather than starting with the business objective – classic marketing rookie mistake. Twenty years of marketing experience and I can still make ’em!
======= Quick Sidenote on Business and Marketing Objectives =======
Here’s what I mean by starting with the business objective. In reality I should have started with:
- A business objectives e.g. profit after drawings of $100,000 in the next financial year, revenue increased by 20% at a 30% GM, while controlling overheads, and only working 5 days pw 8 hours per day etc etc.
- From that would come marketing objectives e.g. have 20% market share of the wine sold 20 miles around my store while keeping a 30% gross margin (other revenue, margin and volume targets), something about customer types (e.g. Experimentors, young professionals, or 35-55 year old wealthy males…), something about premium and higher margin wines (spirits and beer) objectives, something about key periods of the year blah blah blah.
- From that would come various retail promotional objectives as well as social media objectives (finally I’m back to the topic of my post 😉 )
- and lastly the social media type.
But I didn’t.
Yes I’m a dumb ass. In my defence the great thing about blogs is I can write just right about whatever I feel is interesting rather than be held to a business process.
So where to next?
The more sensible way from here may be to go through the graph above, and start to nominate the best wine blogs, based off particular objectives, with specific measures.
So I’ll see where that heads.
What are your thoughts (apart from the dumb ass thing)?
Sean Corcoran, “No Media Should Stand Alone”. December 16, 2009. Forrester Research.
Michael Greene “Justifying Social Marketing Spending”. February 18, 2009. Forrester Research
Jeremiah Owyang, John Lovett Senior. “Social Marketing Analytics! A New Framework for Measuring Results in Social Media!”. April 22, 2010. Altimeter Group, Web Analytics Demystified.