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A presentation on the need for social media measurement and how we can use various measures to get a feel for the effectiveness and the performance of various social media engagements. A few social ...

A presentation on the need for social media measurement and how we can use various measures to get a feel for the effectiveness and the performance of various social media engagements. A few social media channels are used as examples.

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Social Media Metrics Social Media Metrics Presentation Transcript

  • Social Media Metrics. Measuring the ROI on using Web 2.0 tools for brand building and marketing Mahesh Patwardhan Digital and New Media Consultant November 2009
  • Why do we need to measure how our Social Media implementations?
  •  Social media are internet-based tools . Some features:  allow sharing of information such as videos, audio, blogs, reviews etc.  enable discussion on different topics.  provide a platform for networking with friends  allow the building of relationships between various entities  Evolution-wise:  The early web era : corporate web sites – a static online brochure – informing customers what you had to offer along with an online guide to your business.  Today: Web 2.0 and Social Media - all about relationships in the connected world  The big question: Can it stand on its own and replace all other forms of marketing?  The big answer: No.
  •  Social media complements other online and offline marketing initiatives that any company may undertake. It does not replace other media.  The Investment plan, media strategy and execution all need to be put together just as for other marketing channels.  A mechanism is needed for measuring the returns that you are getting on your investment.  You need something to help you define the criteria that will measure the success of your efforts.  This is the challenge.  With websites and banners it was easy.  You measured page views, unique visitors, number of visits, referrals  you measured impressions, clicks, click-through rates  So, what do you do when it comes to Social Media?
  •  First, you need to remember that Social Media marketing is not about hard-sell.  It is  Where you try and influence a selected section of your audience using sources of authority.  Where you try and engage and influence and bring about interaction amongst your network and communities from other networks.  Beyond a certain point you will have little control over the spread of word as it then becomes a viral which moves along based on trust and credibility that the users have amongst themselves.  It is essential that you have a well defined framework that will allow you to measure.
  •  We can define the categories that measure  Outputs.  This measures effectiveness and efficiency.  Examples :  what is the number of positive reviews produced  how many people discussed this in blogs  how many times did your brand get talked about?  Outcomes.  This measure the change that comes about from the activity.  Examples:  how many more positive reviews do you have for a new product or service that you have launched?  Business results .  This has a more direct bearing on the actual sales.  Gives a clear measure of how your efforts have helped you achieve a specific business objective, for eg., growth in sales.
  •  There are tools available that can measure all these; For eg –  how many people commented on your blog  how many people shared your article  how many reviewed or voted on your product/services?  How many forwarded or engaged in discussion about your brand?  What you need to remember  keep a firm watch on the business outcome  you have to monitor this with reference to what else you are measuring.  If your business objectives are not being met, despite a good amount of engagement of users with your brand, then you have to revisit your strategy.  Measurements help in navigation and allows you to make course corrections as you go after your business objectives.
  • Why is listening important? Why is it an important part of any Social Media Strategy?
  •  Listening is important. We need to listen  To be able to gauge the sentiment around your brand  To be able to manage your reputation online  To identify areas and issues that need to be addressed around your brand  To be able to identify and leverage relationships to promote your brand
  •  There are lots of free tools out there that can be used for listening.  There are paid services also that will provide you with reports on the buzz surrounding your brand.  Some free listening tools available are:  Social Mention  Same Point  Technorati  Blog Pulse  Board Reader  Google  Yahoo Groups
  • Presenting the metrics used across a few popular social media channels
  •  A blog is a type of Web site used by individuals, groups or business entities  Used to publish opinions and commentary on various topics which can cover current events, popular themes, or even be like a personal diary.  Blog posts are listed in reverse chronological order and also allow for comments by readers.  Posts can be in the form of text, image, video, or rich-media formats.  Blogging platforms allow for rapid syndication of content to interested audiences. eg. RSS
  •  An indication of the audience growth could be  How many Unique visitors visit your blog?  How many Subscribers does your blog have?  What is the number of page views for your blog?  What is the amount of time sSpent on your blog?  The level of user participation is  What is the volume of comments on your blog?  What is the number of comments in relation to the number of posts? This gives an indication of the Conversation rate  Citations and external acknowledgements  How many unique blogs link to your blog? (citations)
  •  The leading social network, Facebook, allows you to engage with your fans  It provides in-context insights into the interactions  You can see how users are interacting with your page, by Wall posts, likes and comments.  Post Quality shows how engaging your posts are to your fans  The Fans Over Time graph lets you track when users decide to unsubscribe  Statistics are provided on where your fan base is located and which
  •  Interactions over time  Interactions  Interactions per post  Post Quality  Posts  Discussion Posts  Reviews  Mentions  All Fans over time  Total Fans / Unsubscribed Fans  New / Removed Fans  Top Countries  Demographics  Page Views  Unsubcribes / Resubscribes  Media Consumption
  •  Apart from these graphs, the following insights are also provided:  Top Countries  Top Cities  Top Languages  You can see the Total Fans by  Male / Female  Age Group  Active Fans are also shown by  Male / Female  By Age Group
  •  Twitter is a micro-blogging service  It enables its users to send and read messages known as tweets.  Tweets are  text-based posts of up to 140 characters  displayed on the author's profile page  delivered to the author's subscribers  The authors subscribers are known as followers.  Performance can be measure by Reach, Demand, Engagement and Velocity.
  •  What is Reach?  Are your tweets interesting and informative enough to build an audience?  How far has your content been spread across Twitter?  Are people adding you to lists and are those lists being followed?  Reach is measured by  Total Number of followers  Total Retweets  Total number of friends
  •  What is Engagement?  How diverse is the group that @ messages you?  Are you broadcasting or participating in conversation?  Engagement can be measured by  Follower Mention %  Inbound Msgs per Outbound Msg  Unique @Senders
  •  What is Velocity?  How likely are you to be retweeted?  Do a lot of people retweet you or is it always the same few followers? • Velocity is measured by  Unique Messages Retweeted  Unique Retweeters  Follower Retweet
  •  YouTube is a leading Video Sharing site  On YouTube you can  Create your own channel  Share your videos  Subscribe to other peoples channel’s and videos  Comment on videos  YouTube offers measurements based on views, demographics and community
  •  Views  Daily Views  How many views are your videos getting?  Views / Unique Users  Demographics  Where are the viewers from?  By region  By country  Age ranges for male / female /all  Genders for all age groups
  •  Community  Community Engagements  Number of users who have either commented on or rated your videos  Total / Engagements per view  Ratings  Total / Ratings per view / Average Rating  Comments  How many comments have your videos received  Total / Comments per view  Favourites  How many times have your videos been marked as favourites?  Total / Favourites per view
  •  Flickr is a popular photo sharing platform  Flickr offers statistics on the following  View counts  Photos and Videos  Photostream  Sets  Collections  Your most viewed photos and videos  So far today  Yesterday  Referrers  So far today  Yesterday
  •  Breakdown of your photos  Public / Private  Friends only / Family only / Friends and family  Photos  Videos  Tagged / Not tagged  Geotagged / Not geotagged  In sets / Not in sets  In groups / Not in groups  With Views / Without views  With comments / Without comments  Favourited / Not favourited
  •  This was a short presentation on the need for social media measurement and how we can use various measures to get a feel for the effectiveness and the performance of various social media engagements. A few social media channels were used as examples.  Social media does not lend itself to direct marketing and hard-sell. Rather it can used very effectively by leveraging the relationships that exist within the various networks and communities.  Measuring the effectiveness of our selected engagements as it helps revisit our strategies and make necessary course corrections as required.