Key Takeaway - using owned media, like your website or email list, will drive earned stories via the Open Graph into Facebook and eventually provide insight into which stories could most effectively influence a consumer’s extended network. Investing (paid media) in those instances specifically is certainly money well spent.By leveraging Facebook’s Open Graph and the power of consumers, brands can build stronger and incredibly loyal customer bases. Brands can tap into the power of their customer bases to drive social word of mouth at scale, amplifying awareness, and maximizing their social media investments.
The end goal for most marketers today is really the starting point in determining the real value of socially enabled marketing and collaboration tools; capturing activity metrics. However, activity metrics alone provide limited value. When viewed independently they typically show general traffic patterns but don’t give any real insight into what the business ‘contribution’ value or the performance value that asset is providing to the businesses’ strategic goals, nor do activity metrics give insight into how these assets might be performing as an integrated unit. Many times, activity metrics can create ‘false positives’ which point to trends that are not really there. Likes may be attributed to individuals who act impulsively when seeing something but never give it a second thought afterward. Page views may provide the marketer a big number to enthusiastically present but provides no insight into those users intent.
This chart starts to tell a story. Rather than organize our metrics around campaigns and tools, we instead organize around a KPI for each pillar of engagement. Within each category, such as Advocacy, the assets we have in play such as our Facebook page or community hub should be delivering measurable value. The types of metrics that are captured for each are very different and have been selected and organized into “suites of metrics” that together tell a story or create a strong correlation to achievement or progress against a specific defined KPI. None of these metrics in and of themselves are the “magic bullet”; you need to do the analysis to determine which grouping of mNo business goal or KPI is created equal. Some have more value than others based on your defined business goal. Therefore the bundled ‘suite’ of activity metrics that together create a value metric which pays off a high value business KPI versus those which pay off a low value KPI should have a greater weight.
Social Engagement—It’s not just a fun side project anymore In the next 5 years, marketers expect to spend 19.5% of their budgets on social engagement, almost three times more than the current level!