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Social Media Monitoring

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Social media monitoring (SMM) is the process of tracking, measuring and evaluating an organization’s social media marketing initiatives. SMM began as a way of tracking harmful comments and avoiding PR disasters. Unmonitored, damaging remarks can have a negative impact on a brand’s reputation and future.

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Social Media Monitoring

  1. 1. monitoring social media
  2. 2. social media monitoring Social media monitoring (SMM) is the process of tracking, measuring and evaluating an organization’s social media marketing initiatives. SMM began as a way of tracking harmful comments and avoiding PR disasters. Unmonitored, damaging remarks can have a negative impact on a brand’s reputation and future. As the social web grew rapidly, the importance of monitoring also increased. Software has been developed to track trends and measure standards. Eventually, social media monitoring evolved to beyond basic listening into active interaction. Social media is now used to instantly respond to and resolve consumer issues and build relationships with customers while cultivating super fans. Marketers can use SMM to track, measure, evaluate and tune their social media activities to maximize their chances of success.
  3. 3. tracking Social media tracking is the process of finding and following content on the social web. You can keep your finger on the pulse of what is happening in your field or with your customers by tracking. You find appropriate content to monitor by utilizing search engines. Here is a five-step approach to effectively find relevant content on the social web:
  4. 4. 1. choose focus areas Define what you are looking for in detail. This will vary from business to business, but there are some things all marketers should be focusing on. For example, a marketer could determine whether his or her brand is the sole focus of the search or if the search extends to competitor’s brands also. In reality, you should monitor both to see how well your brand is doing compared to others.
  5. 5. 2. select target-rich platforms Choose specific social media platforms in which your intended audience is participating to monitor. For the best data, focus on the sites your audience engage on most.
  6. 6. 3. identify the appropriate keywords & phrases Study how people actually search or describe your brand or other brands and topics. You can then search phrases and terms using common language, which will give you the best results. Google AdWords Keyword Tool is a good web site to research keywords. The tool shows the number of monthly searches on Google using variously related keyword phrases. Remember, do not use industry jargon or technical terms in your posts or when searching keywords. Keep it conversational. You can access Keyword Tool, a free alternative to Google Keyword Planner, by clicking on the following link, http://keywordtool.io.
  7. 7. 4. search smart Restrict or widen the search by using Boolean operators (AND, OR and NOT) when using almost any search engine. A. Boolean AND operator – Represented by a plus sign (+). Constricts a search by specifying that the results must include all the keywords in a query. For example, the search history + books would retrieve only content that contained both keywords. B. Boolean NOT operator – Represented by a minus sign (-). Excludes results containing keywords. For example, the search history - books would retrieve only the content that has the keyword history but not the keyword books. C. Phrase Searching – Narrows result by only returning content that exactly matches a phrase or keywords inside quotation marks. For example, the search “history war books” would retrieve results that contain that exact phrase. D. Boolean OR operator – Including OR, widens your search to include content that has either of the keywords connected by the operator. For example, the search history OR books would retrieve results that have either of the keywords in the content. This operator usually generates a larger number of results.
  8. 8. 5. adjust searches Refine your searches. For example, your small start-up business may have little presence on the web. You may not get a lot of results for a generic brand search. Instead, search for the brands of competitors and look for potential customers based on target information, such as interests, tastes, behaviors and demographics. Once you find these key sources of information, you should follow them on a regular basis. Set up Google alerts, follow RSS feeds or use more sophisticated tools if time and resources allow.
  9. 9. measuring social media results Social media measuring is the determination of the volume of content and the sentiment toward a brand or topic. The volume of content is a quantitative measurement. Quantitative measurements are those which involve the collection of numbers. It is the opposite of qualitative data which are observations. Judging sentiment is a qualitative measurement. Examples of quantitative data are the number of posts, comments, tweets, retweets, likes and follows. Examples of qualitative date are the actual mentions, comments, conversations and feedback.
  10. 10. Quantitative and qualitative metrics are referred to as Key Performance Indicators (KPI). A KPI is a social media metric that indicates progress of strategies and achievement of goals. Quantitative KPIs are used to measure return on investment, and qualitative KPIs can shed light on the impact of your social media activities on goals, such as brand awareness, influence and engagement. A baseline (or benchmark) can act as a standard against which KPIs are measured. Benchmarks provide a starting point when developing strategies toward achieving goals. It is valuable to benchmark an organization’s social media metrics against the competitions. For example, discovering you have 5,000 Twitter followers becomes more meaningful when you know your competitor only has 3,000 followers. It is important to compare your KPIs to your benchmarks over a period of time to assess and the pace and degree of progress. Record measurements weekly for the best results. Pay attention to massive shifts and general trends over time.
  11. 11. quantitative social media measuring Quantitative social media measuring focuses on counting the volume of specific types of content on the social web. The most common social media quantitative measurements directly measure the number of interactions between fans/consumers and social media sites. Many marketers count and record the number of visitors/page views, fans/followers, comments posted and links shared. Others also measure the number of leads generated from social media and new customer conversions. Quantitative social media measuring is most successful when metrics are tied to goals. Make your goals specific, measurable, attainable, realistic and timely. Here are some examples of smart goals mentioned in Social Media Marketing a Strategic Approach: Twitter o 20% growth in the number of followers within 30 days o 30% growth in the number of retweets within 30 days o 5% increase in website conversions (sales) from tweet links within 30 days Facebook o 20% growth in the number of fans within five months o 30% growth in the number of comments within five months o 40% increase in the number of check-ins within six months These are just brief examples that may or may not work for your business, but you could modify these goals to meet your marketing needs. Notice how the quantitative metrics are tied with a specific goal within a certain timeline while being tailored to each platform.
  12. 12. qualitative social media measuring Qualitative Social media measuring is the process of accessing the opinions and beliefs about a brand. The most popular qualitative metrics among marketers are those that assess the impact of social media activities on customer relations. For example, some marketers measure dialogue with prospects and customers, while others measure the strength of existing customer relationships. You can also measure customer retention rates and calculate the ratio of negative to positive relationships with consumers. Quantitative data seldom reveals the entire story. Qualitative data plays a key role in identifying consumer satisfaction. For example, if a lot of people tweet “iPhones suck” or “iPhones rock,” quantitative metrics will simply count the number of tweets, not the feelings or opinions contained within them. Feelings and opinions can reveal much about how your brand is perceived. Combining these two types of metrics provides a more realistic and accurate picture of an organization’s progress in achieving goals. Social media measurement should bring both of these metrics together to characterize the performance and the value of your social media marketing efforts.
  13. 13. qualitative KPIs The most influential qualitative KPI is sentiment analysis, which is also known as opinion mining. Sentiment analysis uses computer algorithms to automatically detect the basic mood, attitudes or emotions of your followers /fans and other creating content on social media sites. Typically, sentiment analysis classifies social media opinions about a brand or topic as positive, neutral or negative. Remember, KPIs should be used based on the marketing goals of an organization. KPIs for measuring dialog – You must produce relevant, meaningful content in order to engage an audience and encourage interaction, thus beginning a dialog. We are going to study two metrics for achieving the business objective of fostering a dialog: Share of Voice and Audience Engagement.
  14. 14. share of voice Indicates how a brand stacks up to its competitors. It is calculated by dividing the company’s brand mentions by the total mentions of the industry in social channels (like blogs, comments, Tweets, videos, ect.) as shown in the diagram below. When Share of Voice deviates beyond a reasonable desired threshold, you should look at the content you are producing. If the content is stale or waning, then your Share of Voice will probably be declining as well. And, if your competitor is beating you out of your Share of Voice, it is time to take notice and see what that competitor is doing right.
  15. 15. audience engagement Shows the level of a company’s engagement in comparison with its viewership. It is calculated by dividing the proportion of visitors who participate in a specific marketing initiative by contributing comments, sharing or linking back by the total number of views as shown in the diagram below. A benchmark should be established for this KPI in order to show improvements or declines. Audience engagement is a leading indicator of dialog about a specific topic or product. Variations of audience engagement can be used to identify hot topics and issues of lesser interest.
  16. 16. the net promoter score The score is obtained by asking customers one question: On a scale of 0 to 10, how likely is it that you would recommend [your brand or company] to a friend or colleague? The NPS assumes that every company’s customer can be divided into three classes: 1. Promoters - loyal enthusiasts – score = 9-10 2. Passives - satisfied but unenthusiastic customers – score = 7-8 3. Detractors - unhappy customers – score = 6-0 NPS is calculated by taking the percentage of customers who are Promoters and subtracting the percentage who are Detractors. However the NPS itself is not a percentage but rather a plus or minus. An NPS that is above zero (has a plus sign) indicates a good customer relation’s rating. For example, a company with a +50 NPS is considered excellent at customer relations.
  17. 17. return on investment Return on Investment (ROI) is a ratio arrived at by subtracting expenses from sales and then dividing the result by the expenses as shown in the diagram below: In terms of qualitative social media marketing efforts, the argument is made that impact should be the primary goal of social media marketing, not ROI, but building brand awareness, perception and loyalty, as well as improving customer relationships, will have a long-term effect and increased ROI. The following questions can also be used to judge how well an organization is reaching its qualitative goals: • Is your organization reaching new social media audiences? • Is your company viewed more in a positive than negative light by social media users? • Is your organization engaged in meaningful conversation with social media users?
  18. 18. don’t forget to evaluate Evaluation is the process of interpreting data once it has been measured with the intention to derive insights and understanding from it. Measurement only gains meaning through analysis. Such analysis enables you to determine whether social media strategies are achieving your goals. Evaluation is where many organizations fall short by failing to connect the dots between social media metrics, strategies and business goals. The reasons for this failure are threefold. First, sound analysis of social media measurements relies on collection of the relevant data in the first place, and sometimes the gathered data does not accurately illustrate the performance of social media strategies in attaining goals. Secondly, it takes a significant commitment of time and resources by an organization to evaluate social media measurements, and that commitment requires a financial investment that some organizations are simply not willing to make. And, last of all, social media measurement is still in the experimental stage. Sometimes marketers lack the necessary tools to identify the connection between social media marketing and business outcomes.
  19. 19. selecting social media monitoring tools In May 2011 there were 213 paid and free social media monitoring tools available. The process of selecting one for an organization to use can be aided by determining: • which metrics to measure • which social media platforms to cover • which price range an organization can afford Tool vendors continue to improve their offerings, and marketers continue to rely on them to measure performance and justify expenditures on social media marketing activities. But, ideally, you will have the time and skills to monitor your own sites. Social Mention is a site that gives real-time social media search and analysis for free. You can access the site by clicking on the following link, http://www.socialmention.com. It allows for the basic tracking and measurement of any term (or phrase) in social media. The cons are that it is only a report so engagement will have to be done manually, and non- relevant items may be included in your report. Be sure to use quotation marks around your initial searches. Overall, it is a good free tool for tracking key terms in social media. I encourage you to search your organization or industry and explore the results. Use phrase searching and include quotation marks around the keywords you are searching.
  20. 20. source Barker, M. S., Barker, D. I., Bormann, N. F., & Neher, K. E. (2013). Social Media Marketing: A Strategic Approach. Mason, OH: Cengage Learning. Latest edition.

Social media monitoring (SMM) is the process of tracking, measuring and evaluating an organization’s social media marketing initiatives. SMM began as a way of tracking harmful comments and avoiding PR disasters. Unmonitored, damaging remarks can have a negative impact on a brand’s reputation and future.

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