iLive 2013 - Luke Brynley-Jones Understanding Social Media Measurement: Knowing, what you can measure and what you can’tPresentation Transcript
Understanding Social MediaMeasurementKnowing what can and what can’t bemeasured
Social Media Measurement Goggles
1. Why Measure Social Media?2. The Challenge of Measurement3. 5 Steps to Measurement Success
Monitoring vs MeasurementFor the purposes of today:Social Media Monitoring is the process of observingsocial media data in order to gain insight from, orrespond to, conversations about a specific topic.Social Media Measurement is the act of recording andanalysing the results of social media activities with thegoal of evaluating performance.
“In God we trust.All others mustbring data”.W. Edwards Deming
The Challenge of Measurement
“Is Facebook playing with us?”
http://blogs.adobe.com/digitalmarketing/analytics/2012-holiday-shopping-recap/Can you track and attribute sales?
“Zero Moment of Truth”
Now explain it to them?
5 Steps to Successful SocialMedia Measurement
1) Separate out your goalsAwarenessMeasured by brandrecognition, recallRelationshipMeasured bycloseness tocustomers, NPS, advocacyFinancialbenefitROI or reducedexpenditure
ROI is the easy partAre you making more money than you are spendingon social media?IncomeCash revenue + direct cost savingsExpenditureYour time + direct expenditure + resourcesAsk the right question:minusWhat’s the ROI of [activity x] in Q1 of 2013?
Month All Traffic Social Media % SalesOct-11 673918 220 0.03% 1Nov-11 637519 127 0.02% 3Dec-11 654046 182 0.03% 0Jan-12 696009 4482 0.64% 16Feb-12 642625 9214 1.43% 41Mar-12 807200 7433 0.92% 43% website traffic and sales referred bysocial media
Referral traffic value (ROI)Month All Traffic Social Media % PPC value*Oct-11 673918 220 0.03% £440Nov-11 637519 127 0.02% £254Dec-11 654046 182 0.03% £364Jan-12 696009 4482 0.64% £8,964Feb-12 642625 9214 1.43% £18,428Mar-12 807200 7433 0.92% £14,866*Based on Google Adwords typical cost per click for selected keywords.
2) Create your own MeasurementFramework for each goalROI (£)Direct sales + cost savingsTwitter FacebookIndirectsalesAll socialchannels
3) Get a good measurement toolTool Focus CostSocial Bakers Facebook, YouTube andTwitter analysis withextensive reporting.$100 for 3 accountsTwitsprout Facebook and Twitteranalysis, highlights toptimes for engagment$100 per monthPageLever Facebook analysis, ofmultiple pages, includingalerts (for certainactions).$99 per month for up to 5 pagesTwittercounter # of fans, fan growth,interactions, competitiveanalysisFree. Small fee for reportsSocialDon Analyses pages, fans,interactions, influencers,Free
4) Pick the metrics that work for you1. Fan reach - The number of fans of yourPage who have seen any given post.2. Organic reach - Organic reach includeseverything except viral views.3. Engagement - The number of peoplewho clicked anywhere in your post.4. People taking about this - People whohave Liked, shared, commented onyour content.5. Clicks - Including Link Clicks, VideoPlays, Photo Views.6. Negative Feedback - Hiding, unlinkingor reporting content as spam.
1. # of followers / follower growth2. Reach - qualified in some way!3. Engagement – i.e.replies, mentions, RTs4. Clicks – on URLs in Tweets5. Hourly/daily stats – useful forscheduling
1. Contacts – Collectively for yourstaff2. Followers – Company pages3. Page views / unique visitors4. Engagement – Likes, shares,comments5. Group Members – if you ownthe group6. Group Posts – if you are buildingcloser relationships