Social Media - Metrics that Matter Team Ohana / 12th June 2010 @ Startup Saturday, IIIT-H Ohana Knowledge Series www.ohana-media.com @ohana_media
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Lets be a little practical about social media efforts! Before we start …. Do you really care about engagement through Social Media? At this stage you should care only about two things – Product & Traffic I’m a startup working on an Internet Product , team size: 2-6 Do you really care about message amplification on Social Media? Do you really care about branding through Social Media? NO NO NO
Lets be a little practical about social media efforts! The rant continues ... Usual misconceptions about Social Media with StartUps > I will get lots and lots of brand exposure and traffic from Social Media > I want 5,000 fans on Facebook; 2500 followers on Twitter > And then I’m successful! So what happens - > We concentrate our energies towards that goal & forget the thing that matters - Product & Traffic
Lets be a little practical about social media efforts! We haven’t started talking social media metrics yet ! Sachin Tendulkar Twitter followers: 421,000+ Facebook fan page: 233,000+ Britney Spears Twitter followers: 5,100,000+ Facebook fan page: 2,990,000+ “ I was already a brand - Sachin Tendulkar before I came on Twitter or Facebook! “ I was already a brand – Britney Spears before I came on Twitter or Facebook!
Just re-iterating ... Social Media strategy for Engagement, Brand & Interaction comes at a much later stage. Right now focus on your product! Have presence, but don’t focus major efforts on Social Media. “ And if you can’t believe Ohana Media, you can surely believe us!”
A Case Study: Social Media Metrics Focus on product and getting traffic to website. Built Social into the product itself. No “push” marketing on social media. Tell your own users you are on Facebook & Twitter, if they like what you do – they will follow you How was it possible? If users like what you do, they will follow you or be your fan But if they are your fan or follower, doesn’t mean they like you! If users continue to like what you do, they will continue to follow you or be your fan Golden Rules: A 10 yr old site was declining in traffic and engagement Now, they are back and increasing in pageviews rapidly. Have close to 6000 facebook fans and 2000 followers in twitter
How much traffic can you get from Social Media: Social Media Metrics 5000 Fans / 5000 Followers will give me a lot of traffic! Myth: On Facebook: Facts: 1000 Fans on Facebook, will give you around 50 visits per day if you are compelling and active. Avg time spent by users who come from facebook could be 3-4 minutes (Data from case study) On Twitter: 1000 Followers on Twitter, will give you up 10 visits Avg time spent users who come from twitter is 1 Minute or less (Data from case study) Note: This does no include ReTweets / RePosts of content; Stats not same for viral content – but note that not every content on your website is viral
Some typical mistakes usually seen: Social Media Metrics On Facebook: My website is about Books; Let me create advt on Faceboook for Cricket and get more fans On Twitter: <ul><li>These fans will not convert on your books selling website – will not transact. </li></ul><ul><li>Let users join only on context that is relevant to your service, not cricket & bollywood </li></ul>I need to Tweet often to get more followers <ul><li>No! You need to tweet something relevant and to one theme </li></ul><ul><li>Talking about multiple things will confuse followers, stay relevant unless personal a/c </li></ul>On Social URL Submissions: I will post submissions on Reddit, Technorati, Digg, Buzz, Stumbleupon, Delicious, LinkedIn, etc <ul><li>You will get 90% of traffic only from Facebook, Stumbleupon & Twitter with 10% efforts </li></ul><ul><li>Rest places will take more than 90% of time and give less than 10% traffic </li></ul>
Why is measuring Social Media difficult ? Social Media Metrics No single tool gets you all the metrics you need to keep a tab on. <ul><li>Manual effort needed in compiling dashboard </li></ul><ul><li>Too many tools with too many metrics which are not actionable </li></ul>Traditional web analytics not suited for living pages Consumption of content can be largely off-site Different channels follow different distribution mechanisms Different devices. Access from different clients using APIs.
Measuring blogs Social Media Metrics Blog Metrics How to measure Implication Raw Author Contribution Posts per month = #posts/# months Content created = # words/#posts Use WP Blog Metrics plugin Are we giving the enough inputs ? Measures frequency and consistency Does not measure quality Audience Growth Unq Visitors on Google Analytics RSS - #subscribers, reach Use Feedburner Is anyone reading my content ? RSS Subscribers are your loyal and relevant readers. Track trends Conversation Rate #visitor comments/#posts Is it a dialogue or a monologue? Citations/Ripple Index Technorati Authority - # unique blogs that linked to you in last 6 months Tweet Citations - tweetmeme.com FB Likes/Shares - webgraphr.com Am I causing a ripple? Indicates virality of content Cost Time, Opportunity Cost, Cold hard cash Benefit Conversions ! Customer evangelists created - not easy to measure
Measuring twitter Social Media Metrics Twitter Metrics How to measure Considerations Growth in followers TwitterCounter Index against “competitors” Get relevant followers. Message Amplification # of retweet per ‘000 followers - 1 wk retweetist.com retweetrank.com Instills discipline of tweeting things of value Click through Rate Average shared links CTR Bit.ly Tr.im What do my followers like ? Conversation Rate Replies sent per day Replies received per day twitter-friends.com ( down recently ) Is it a monologue or a dialogue ? New Age Metrics ! klout.com
Measuring video Social Media Metrics Audience Attention !
Wrapping up : Social Media Metrics There are too many metrics and tools out there. Remove the fluff. Don’t get carried away. Focus on outcomes Golden Rules of Social Media Analytics Segment your users Trends not just absolute numbers
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