Social Metrics

by Digalicious on Nov 10, 2011

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This was a presentation I gave at the Vermont Web Summit on November 3, 2011. It's mostly about choosing something smart to measure, like real business stuff, than the nuts and bolts of social analytic...

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Social Metrics — Presentation Transcript

Social Media Metrics Presented by Rich Nadworny @rnadworny November 3, 2011

Digital Strategy and Marketing firmBased in Burlington, since 2008Virtual AgencyStarted #BTVSMB in 2009

What Are Metrics?(def) noun1. the science of meter.2. the art of metricalcomposition.

What Are Metrics?How about:(def) noun1. the distance betweenpoints on a real line

What Are Metrics?Metrics are a set ofmeasurements thatquantify results. (from glossary of business management terms)

What Metrics really means:How do I know if what I’m doing works?

What are you really trying to do? What’s your social strategy?

Social Media:The Plant and Vegetable Strategy Establish & Grow

How Do You Measure That? Quantitative Growth numbers Followers Likes Visits Views Establish & Grow

Create Scorecards

Use Free or Paid Tools

What Are These Metrics Worth?Numbers to consider:Social media marketers reported that48% of their budgets are used to attractnew members to their pages.From e-Marketer study, September 2011

What Are These Metrics Worth?Numbers to consider:Social media marketers reported that48% of their budgets are used to attractnew members to their pages.52% said their fan or follower basewas not target-appropriate.From e-Marketer study, September 2011

How have all of those METRICShelped your BUSINESS?

Numbers to think about:Increasing your customer satisfaction by 5%can increase profits by as much as 95%

Social Strategy & Metrics: SalesUse your social channels to increase sales

Strategy & Metrics: Sales

Measure1. How many items sold2. How many people clicked on your offer (conversion rate)3. How much the promotion cost4. Increase in sales in general

Wait!! That’s social media ROI!

Strategy: Increase Customer Satisfaction

Measure: Increase Customer Satisfaction1. Requests through social2. # of resolved issues3. How long does it take to resolve4. Do customers tell others5. Satisfaction (ask!)

Strategy: Active Intelligence

Mine Your Stream

Monitor Conversation

Monitor Influencers

Measure Listening

Listening MetricsGather the top 3-4 ideas per month fromyour customers.Identify the top 2-3 influencers eachmonth. Treat them specially.

Strategy: Drive Web TrafficUse your social channels to increasetraffic to your Web site (where you dobusiness).

Integrate Social AppsABCNews.com, Washington Post and TheHuffington Post are said to have more thandoubled their referral traffic from Facebooksince adding social plugins.

Integrate Social AppsAmerican Eagle added the Like button next toevery product on their site and foundFacebook referred visitors spent an averageof 57% more money than non-Facebookreferred visitors

Use Free or Paid Tools

Integrate Your MetricsDon’t let them stand alone.Mash them up with biz data, like sales, brandaffinity.

Integrate Your Metrics Numbers look better if you can make inferences with real things.

Social Metrics Figure out what you want to do – then figure out how to measure it

Social StrategyCreate small strategies and learn from the results

Measure MeaningNot Numbers

Thanks!! Presented by Rich Nadworny @rnadwornyNovember 2, 2011

Social Metrics

by Digalicious on Nov 10, 2011

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Social Metrics — Presentation Transcript