Jumpstart Measurement Guide

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Beginners Guide for Digital Chameleon's elearning module on social media measurment.

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Jumpstart Measurement Guide

  1. 1. JumpStart Social Media Measurement Tools & Techniques Learning Objectives Measurement: Job #1 1.) Become familiar with the top social media When we consider the strate- measurement and man- gic element to social media, agement tools what should we keep in mind? First, measurement is 2.) Learn about the key job one. Measurement pro- metrics associated with vides the kind of accountabil- Facebook, Twitter & ity we require and the metrics YouTube should end up driving all our 3.) Use techniques and efforts. Second, social media processes to measure metrics are important to the social media campaigns whole organisation, not just 4.) Use a range of free the marketing department. and paid tools to monitor Make your measurement different aspects of efforts as transparent as pos- social media activity sible. Finally, tie your metrics strategy back to what the business is trying to achieve. Ultimately that means exposure or sales closed and not numbers of re -tweets or Facebook friends. Social media without measurement is like taking a trip Key Takeaways without a destination. What’s the point? 1.) Social media meas- urement must be linked to a desired business outcome. Analytics for multiple objectives 2.) There are manage- ment and measurement tools for every budget. What do we want to meas- ure? Social media can be 3.) The major social me- used to measure more than dia platforms are all just increased sales. Some measured according to business objectives might their own metrics. include: acquiring and re- 4.) Social media activity taining customers, be con- has no intrinsic value sidered a trusted brand, unless it is benchmarked retain and attract employ- against other activity ees, deliver a return on in- such as sales volume or vestment or be considered brand sentiment. an innovative market lead- er. 5.) There is a wide range of tools that can be used Does your social media to monitor and analyse strategy tie in to any of the- social media activity. se business objectives? Are you measuring how social media is helping to achieve them?© Digital Chameleon +61 2 9997 4417 or info@digitalchameleon.net or visit www.digitalchameleon.net
  2. 2. MeasurementTools & Techniques Top tools for managing and measuring social media, for any budget You can spend as much or as little as your budget and situation require. There are tools that allow you to manage and measure your social media assets that range in price from free to tens of thousands. There are many different categories of tools, including manage- ment, measurement, brand management, free web and Twitter tools, social search and ag- gregator tools, subscription services and brand and CRM management tools. To make mat- ters even more confusing, many of these tools have capabilities that overlap. Matching your specific needs to your resources is key to de- termining what the best solution is for your brand. Measuring the major platforms Each of the major social media platforms have metrics that are special to them. In order to evaluate social media metrics effectively, you need to know how to speak Facebook, YouTube and Twitter!Well designedFacebookbrand pagesare built toattractinteractions Key Twitter metrics include: Followers,that can be Referrals from tweets, Visits per period,measured Visits per follower and Re-tweeting rateYouTube providesmilestones for eachvideo, as well asdemographicsPage 2© Digital Chameleon +61 2 9997 4417 or info@digitalchameleon.net or visit www.digitalchameleon.net
  3. 3. Guest expert topics in this module Measurement • Social Platform Launches (Tip Gloria, Social Media Strategist) Tools & Techniques • Nielsen & Social Media (Matt Bruce, Managing Director/Nielsen) This module’s Ning Learning Missions include: • Sentiment check • Competitive check • Online revenue goals With so many metrics to track, measurement can often seem overwhelming. The best placeSim to start is linking measurement back to objec- pmea lifying tive, then benchmark over time. For example, sure a sales promotion men broadcast via social t media can be tracked. The response to the social media messaging can be linked to con- sumer activity that is generated by the mes- sage. This activity can include sales, a change in brand sentiment or a change in other social media metrics, such as friending/rating/ responding/etc. Over a period of time, it is pos- sible to correlate all these metrics with actual results. As the chart to the right illustrates, all the activity can be reduced to trends, which can tell an easily comprehensible story, given enough time. JumpStart Strategy module includes: Play the Measurement game! Tools to measure and manage mini-quiz In this module’s virtual reality game, you are a Social Measurement Media Manager eval- techniques mini-quiz uating a recent cam- paign using some Strategy Game handy tools. Did it make the needle Resource Bank move? All your col- leagues want to know Glossary and you are the go-to person! Remember: all submissions are en- tered into the draw for a prize! Page 3 © Digital Chameleon +61 2 9997 4417 or info@digitalchameleon.net or visit www.digitalchameleon.net
  4. 4. Term Definition Measurement Amplification The extension of an ad campaign through social media and the degree to& Techniques Tools which campaign messages propagate through social networks. Association Degree to which a particular brand is associated with the general product category in the mind of the consumer (share of mind). Data-latency The speed at which conversations are collected by a tool is limited by the frequency of their web-crawlers and the length of time it takes the tool to process the data. This could make alert functions less useful. Engagement The level of involvement, interaction, intimacy and/or influence a consumer has for or with a brand or social platform over time. ORM Online reputation management (or monitoring) is the practice of monitoring the Internet reputation of a person, brand or business, with the goal of suppressing negative mentions entirely, or pushing them lower on search engine results pages to decrease their visibility. Relevance Reach represents the degree of marketing penetration within a given target audience. That degree of penetration (expressed either as a number of individuals or as a percent- age of individuals) is equal to the degree of exposure the target audience has had to an intended marketing message. Sentiment Analysis Can also be used to determine if the "sentiment" of the page is positive or negative SERM Search Engine Reputation Management (or SERM) tactics are often employed by compa- nies and increasingly by individuals who seek to proactively shield their brands or reputa- tions from damaging content brought to light through search engine queries. Share A "share of voice" is a brands or group of brands advertising weight or buzz expressed as a percentage of a defined total market or market segment in a given time period. The weight is usually defined in terms of expenditure, ratings, pages, poster sites, buzz etc. Social Measurement The tools and benchmarks required to determine success in the various forms of social media marketing. Social Targeting Uses data to find those obsessive social networkers who influence the "social graph." Third-party panel-based analytics Providers such as comScore and Nielsen can tell you who actually looks at a site. Howev- er, some publishers contend that they are often undercounted due to the complexity of the web and the difficulty of getting reliable metrics for smaller sites. Time Spent The amount of elapsed time from the invitation of a visit to the last user activity associat- ed with that visit. Velocity The rate at which social media tools/apps are dispersed through a social media ecosys- tem. Page 4© Digital Chameleon +61 2 9997 4417 or info@digitalchameleon.net or visit www.digitalchameleon.net

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