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Measuring and making sense of your social analytics
 

Measuring and making sense of your social analytics

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Once your social media sites are set up, it's time to dive into the numbers behind them. Social analytics are key to understanding your fans, visitors, and customers online. This whitepaper gives ...

Once your social media sites are set up, it's time to dive into the numbers behind them. Social analytics are key to understanding your fans, visitors, and customers online. This whitepaper gives you everything you need to turn social fans into social customers.

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    Measuring and making sense of your social analytics Measuring and making sense of your social analytics Document Transcript

    • Measuring andMaking Sense ofYour Social AnalyticsMeasuring andMaking Sense ofYour Social Analytics
    • Most  businesses,  by  now,  understand  that  social  media  is  here  to  stay  and  that  maximizing  the  effectiveness  of  these  online  tools  is  key  to  the  success  of  every  business’  marketing  efforts.  For  the  most  part,  building  the  social  media  presence  and  connecting  these  profiles  with  each  other  is  the  easy  part.  The  tough  part  is  making  sure  social  media  is  delivering  the  right  results.  The  only  way  to  do  that  is  through  social  analytics,  through  Facebook  reporting  and  other  tracking  tools  to  provide  the  hard  numbers  on  a  type  of  marketing  thats  still  very  new.  What  are  Social  Analytics?    Social  analytics  are  the  measurements  that  gauge  your  social  impact,  or  the  results  of  your  social-­‐media  marketing.  They  go  beyond  numbers  such  as  Facebook  fans,  Twitter  followers,  retweets,  likes,  etc.  Those  numbers  actually  dont  mean  much,  because  they  dont  reflect  the  return  on  investment  for  your  social  media  efforts.  You  got  a  like,  which  is  great,  but  you  dont  know  how  you  got  that  like  or  what  you  will  get  from  that  like  in  the  long  run.  Social  analytics  serve  as  the  ROI  calculator  for  your  social-­‐media  marketing.  Its  the  way  to  determining  what  all  your  hard  work  has  delivered  to  the  company.    With  social  analytics,  you  can  get  an  idea  of  what  your  potential  customers  are  doing  on  social  media,  what  types  of  content  they  are  engaging  with,  and  figure  out  how  to  use  that  information  to  get  these  potential  customers  to  become  actual  customers.  Its  more  than  gathering  data.  Social  analytics  is  about  gathering  the  right  data  and  then  having  the  right  insights  to  use  in  making  sound  planning  decisions.    8  Statistics  to  Measure  with  Analytics  If  Facebook  fans,  Twitter  followers  and  other  social-­‐media  markers  dont  reflect  social  impact,  what  does?  What  should  social  analytics  actually  measure?  What  sort  of  data  should  be  gathered  and  what  can  be  learned?  Here  are  eight  things  that  social  analytics  measures:  1. Total  Size  of  Community  -­‐  This  is  one  you  could  probably  figure  out  on  your  own  if  you  took  the  time,  but  the  data  is  much  easier  to  track  with  social  analytics.  The  total  size  of  your  community  is  the  total  number  of  followers,  fans,  subscribers,  etc.,  across  all  your  social-­‐media  profiles.  This  holistic  picture  shows  if  you  are  adding  value  through  your  social-­‐media  marketing.  2. Bounce  Rate  -­‐  The  bounce  rate  is  the  percentage  of  visitors  who  leave,  or  bounce  from,  a  page,  without  visiting  a  second  page.  Whats  considered  a  good  bounce  rate  depends  on  what  kind  of  page  it  is.  This  may  be  hard  to  gauge  for  a  social  media  profile,  but  can  be  gauged  for  sites  that  a  social-­‐media  update  or  link  might  lead  to,  such  as  a  blog  post  or  a  landing  page.  For  these  types  of  
    • pages,  a  bounce  rate  above  90  percent  means  that  something  needs  to  happen  on  these  pages  get  visitors  to  fill  out  a  form  or  to  click  elsewhere  on  your  site.  3. Visit-­‐to-­‐Lead  Conversion  Rate  -­‐  Two  types  of  conversion  rates  matter,  and  the  first  is  the  visit  to  lead  conversion  rate.  One  of  the  main  reasons  companies  use  social  media  is  to  generate  leads,  and  its  tough  to  know  if  you  are  doing  that  without  social  analytics.  This  conversation  rate  can  measure  all  leads  generated  from  social  media  or  it  could  be  segmented  for  each  social-­‐media  profile.  Most  companies  wont  have  a  visit-­‐to-­‐lead  conversion  rate  if  they  aren’t  tweeting  or  posting  opportunities  to  convert,  i.e.,  registering  for  a  webinar  or  downloading  a  coupon.  4. Lead-­‐to-­‐Customer  Conversion  Rate  -­‐  This  conversion  rate  may  not  take  place  on  social  media,  but  it’s  still  crucial  to  social-­‐media  analytics  and  it  tells  you  if  social  media  is  bringing  in  customers.  Your  profiles  and  status  updates  may  have  a  ton  of  engagement,  but  that’s  not  the  same  as  generating  leads  from  your  social-­‐media  marketing.  Turning  those  social-­‐media  leads  into  customers  is  something  else  completely,  and  the  lead-­‐to-­‐customer  conversion  rate  may  be  one  of  the  few  numbers  your  boss  cares  about  when  it  comes  to  the  Facebook  reporting,  dashboard,  social-­‐media  mumbo-­‐jumbo.  5. Sentiment  -­‐  Having  a  ton  of  mentions  on  social  media  is  great,  unless  a  majority  of  them  are  negative.  Your  social-­‐analytics  reporting  ought  to  include  a  reading  on  sentiment,  or  whether  or  not  the  engagement  on  social  media  is  positive,  negative,  or  neutral.  Of  course,  you  want  positive  mentions  to  increase  perpetually,  but  knowing  your  sentiment  measure  allows  your  business  to  respond  properly  to  negative  sentiment  or  thank  someone  for  a  positive  comment.  6. Who  are  Your  Social  Media  Fans/Followers?  -­‐  This  goes  beyond  recognizing  names,  profile  pictures,  and  Twitter  handles.  Social  analytics  needs  to  measure  the  qualitative  data  that  defines  who  these  social-­‐media  people  are  so  you  can  use  that  information  for  better  social-­‐media  marketing  and,  ultimately,  better  all-­‐around  marketing.  For  example,  social  analytics  can  tell  you  the  time  zone  in  which  followers  or  those  who  check  out  your  site  are  located  (which  makes  it  easier  to  time  your  updates)  or  if  the  bulk  of  your  followers  are  in  your  industry  or  like  your  product/service.  7. Where  Did  the  Lead  Come  From?  -­‐  Its  critical  to  know  which  social  networks  or  which  social-­‐media  marketing  tactics  are  driving  the  most  leads.  This  metric  is  better  known  as  referring  traffic,  or  referring  sites.  Obviously,  if  a  lot  of  people  on  Facebook  were  converting  into  leads,  then  you  would  want  to  continue  your  work  there  with  regular  page  updates  and  Facebook  ads  and  other  methods.  If  Facebook  isnt  bringing  in  the  results  you  were  hoping  to  see,  the  next  step  is  to  figure  out  whats  wrong,  or  if  you  are  better  off  devoting  time  and  energy  elsewhere.  8. How  did  Someone  Engage  with  Your  Brand?  -­‐  Its  important  to  know  if  someone  simply  follows  your  brand,  followed  your  brand  after  downloading  something  or  attended  a  webinar,  or  perhaps  connected  with  you  on  social  media  after  first  
    • visiting  your  website.  Each  example  is  at  a  different  stage  of  the  buying  process,  has  different  needs,  and  a  different  level  of  interest  in  your  brand.  Knowing  the  differences  among  them  can  help  refine  your  social  media  marketing.  Why  Have  Analytics  at  All?  Analytics  essentially  help  you  gauge  the  success  of  your  current  social-­‐media  marketing  efforts,  i.e.,  if  you  are  reaching  company  goals.  If  your  company  goal  is  to  generate  leads  through  social  media,  knowing  which  platforms  have  the  highest  levels  of  engagement  and  which  links  are  bringing  traffic  to  your  website  is  incredibly  important.  Having  social  analytics  also  means  you  have  that  much  more  data  to  work  with,  making  it  easier  for  your  brand  to  determine  what  to  do  next,  with  whom,  and  when.    Besides,  where  would  you  or  any  company  be  without  social  analytics?  You’d  be  simply  guessing  at  what  are  working  and  whats  not,  and  using  arbitrary  numbers  and  measurements  to  gauge  success.  Without  social  analytics,  a  company  has  little  way  of  knowing  which  referring  sites  are  driving  the  most  traffic  or  the  most  engaged  visitors,  or  even  what  kind  of  impact  (if  any)  their  social  media  actions  are  having.  Without  social  analytics,  a  company  could  easily  be  throwing  money  away  and  eventually  giving  up  on  social  media  marketing  because  its  not  accomplishing  company  goals.  Tips  and  Tricks  in  Social  Analytics  Segmentation  If  the  leads  coming  through  Facebook  are  distinctly  different  from  those  coming  from  LinkedIn,  and  different  still  from  those  coming  from  Pinterest,  you  may  want  to  segment  those  leads  according  to  those  sources.  Through  segmentation,  your  lead  nurturing  can  be  much  more  logical  and  targeted  toward  what  drove  the  lead  to  convert  in  the  first  place.  Segmentation  can  also  help  with  finding  characteristics  to  help  build  marketing  personas,  which  can  go  back  to  social  media  in  determining  what  content  you  post  where  and  who  is  supposed  to  benefit  from  said  content.  Dont  Ignore  Search  Search  engines  are  now  emphasizing  profiles  and  evidence  of  "social  proof"  in  results,  (especially  with  the  introduction  of  Google+)  meaning  that  social  media  is  no  longer  separate  from  SEO  and  other  search  marketing  tactics.  A  good  example  of  this  is  Google  Authorship,  which  attaches  a  picture  and  a  profile  of  the  authors  article  to  the  search  results.  Statistics  have  shown  that  articles  with  that  picture  and  profile  get  a  lot  more  clicks  than  those  that  dont.  Bing  is  also  emphasizing  social  proof,  showing  you  which  
    • friends  like  what  you  just  searched  for  or  showing  you  which  people  on  social  media  have  an  interest  in  that  subject.  Conduct  a  Content  Review  Social  media  is  made  up  of  all  the  content  that  is  shared  and  posted.  Your  company  cannot  be  considered  active  on  social  media  unless  content  is  being  posted.  Thus,  it  is  important  to  review  the  content  that  you  post  on  social  media,  considering  quality  and  relevance.  Review  each  piece  of  content  by  monitoring  three  things:  unique  page  views,  time  on  page,  and  total  pages  viewed.  These  three  factors  assess  the  perceived  value  of  the  content  by  your  audience,  as  well  as  the  overall  reach  of  your  social  media  efforts.    Bring  this  Data  into  Other  Parts  of  the  Organization  If  the  awesome  data  youre  getting  from  social  analytics  simply  stays  in  marketing  or  with  your  social-­‐media  manager,  youre  losing  out  on  a  lot  of  potential.  Sales  can  definitely  use  the  social-­‐analytics  data  when  reaching  out  to  individual  leads,  or  even  in  offering  logical  next  steps  for  leads  that  arent  ready  to  buy.  Customer  service  and  support  can  use  this  information  if  current  customers  continue  to  remain  active  on  social  media.  The  data  can  reflect  the  needs  of  current  customers  and  help  customer  service/support  meet  those  needs.  Social  Analytics  Tools  We  Recommend  There  are  tons,  TONS,  of  social  media  tools  out  there.  How  do  you  choose  among  the  tools,  even  when  its  hard  enough  to  choose  among  the  social  networks?  Below  is  our  list  of  great  tools,  and  most  of  these  tools  will  work  with  most  social  networks.    Google  Analytics  -­‐  Google  Analytics  is  a  tool  that  most  small-­‐  and  medium-­‐sized  businesses  know.  However,  some  may  not  realize  that  Google  Analytics  offers  social  analytics  as  well  as  web  analytics.  Use  this  tool  to  find  the  conversion  rates  of  social  media,  find  out  which  profiles  drive  the  most  engaged  visitors,  and  where  your  most  popular  content  is  being  shared.  Tying  your  social  analytics  with  web  analytics,  Googles  tool  is  great  for  monitoring  bounce  rates  and  where  traffic  and  leads  are  coming  from.    Bit.ly  -­‐  Bit.ly  is  a  URL  shortening  and  tracking  tool,  and  is  useful  for  more  than  just  giving  you  more  room  in  your  tweet.  With  its  URL  tracking,  you  can  see  which  links  are  getting  the  most  clicks  and  extrapolate  from  there  why  certain  links  received  certain  clicks.  Was  it  the  topic?  The  teaser?  The  platform?  The  accompanying  picture?  Bit.ly  allows  you  to  shorten  a  link  multiple  times,  so  you  can  conduct  testing  to  find  out  which  social  media  marketing  methods  to  the  best  with  your  audience.  
    •  Klout  -­‐  Looking  at  up  to  12  social  media  profiles,  Klout  measures  the  influence  of  your  social  media  profiles  and  gives  you  a  score  based  on  the  level  of  engagement  you  have  on  social  media.  This  involves  more  than  posting  regularly  or  simply  having  profile,  as  the  score  reflects  the  impact  your  social  media  activity  has  on  the  rest  of  the  network/world.  It  makes  it  easy  to  see  at  a  glance,  which  profiles  have  the  most  engagement  and  the  specific  updates  that  were  particularly  influential.    SimplyMeasured  -­‐  Although  SimplyMeasured  has  more  robust  reports  behind  a  paywall,  you  can  access  reports  that  analyze  your  Facebook,  Twitter,  Instagram,  Google+,  YouTube,  and  Klout  for  free  (Pinterest  and  LinkedIn  are  coming  soon).  In  exchange  for  a  post  to  social  media  about  SimplyMeasured,  you  get  the  free  report  about  your  Twitter  following,  your  YouTube  audience,  or  how  effective  you  are  using  a  certain  network.  What  makes  SimplyMeasured  different  from  the  other  social  analytics  tools  is  that  it  offers  reports  that  compare  your  social-­‐media  marketing  to  the  competition.  No  one  wants  to  be  outperformed  by  a  competitor!  WAS  THIS  HELPFUL?  SHARE  OR  CONNECT  WITH  US  ONLINE!    http://digitalsherpa.com/blog  http://facebook.com/digitalsherpas  http://twitter.com/digitalsherpas  http://linkedin.com/company/digital-­‐sherpa  http://youtube.com/digitalsherpas