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Social Media Metrics - part 1 Measurement Strategy

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Social Media Metrics - part 1 Measurement Strategy

  1. 1. SOCIAL MEDIA METRICS Part 1 - Measurement Strategy
  2. 2. BEFORE WE PROCEED“I hate to break it toyou but ‘social media isn’t measurable’ is an excuse”
  3. 3. ARE YOU READY TO DISCOVER?The direct unfiltered brutally honest nature of much online discussion is blackgold...texas tea to companies that want to spot trends or find out what customers really think The Economist, March 11, 2006
  4. 4. WHY MEASURE THISSOCIAL MEDIA THING?
  5. 5. WHY MEASURE?• Consumers are not listening• Consumers are creating• Consumers are selecting• Consumers want YOU to pay attention
  6. 6. TANGIBLE BENEFITS Reassure consumers that they are being heard Identify your real influencers Aid product developmentReach your target market quicker Gather brand perceptions Improve customer service and crisis management
  7. 7. SO HOW DO YOUMEASURE THIS SOCIAL MEDIA THING?
  8. 8. STEP 1: CAN’T HAVE STRATEGY WITHOUT GOALS• Define your goals • eg: How many people share my website or what impact has a particular campaign had or is this trend about my brand true?• Base campaign goals on relevant metrics that translate into a business context • Quantitative: Sales, new leads, new subscribers • Qualitative: Satisfaction, loyalty, feedback , interaction, sphere of influence• Social media fragmentation does not make this easy
  9. 9. SUCCESS• IS NOT just Attention - “Increase in number of followers”• IS MORE than just boosting sales• IS defining and tracking your success metric based on your campaign GOAL• Success = Meeting goals !
  10. 10. STEP 2: DEFINE YOUR SUCCESS METRIC # of people who filled in “more info” form # of people who tweeted something about us Increase in page rank Overall brand sentiment # of unique visitors # of repeat visitors Rate of growth of network/influence # of comments and comment frequency # of influential blog links # of new sales leads# of people who used a specific promotional coupon # of views Cost reduction of support team Amount of user feedback actually implemented # of times a day/week we post comments
  11. 11. WHAT IS IT WE AREMEASURING AGAIN?
  12. 12. CORE METRICS• Measure Exposure • Network size - Number of Facebook fans, twitter followers, youtube video views, who re-tweeted, how many blog post views etc.• Measure Influence • Soft Metrics - positive and negative brand sentiments, kind of people engaging with the brand - key influencers to the average joe• Measure Engagement • Twitter and Facebook(wall) link click throughs and comments, replies, private messages, youtube video comments, blog comments and referrals etc.
  13. 13. THE ‘WHOLE BRAIN’ METRICS Left Brain Metrics Right Brain Metrics Quantitative Qualitative Activity Number of posts Comments Your initiations Update frequency Number of followers/fans Customer sentiment Interactivity Number of comments Learning Audience responses Number of views Overall Buzz Amount of user content Number of leads Returns Sales Success storiesFinancial and brand impact Costs of customer service Learning Promotion conversion Source: http://brainzooming.com/?p=3018
  14. 14. EXAMPLECampaign Objective Goal Success Metric Number of positive comments per hour/per e.g. X amount positive conversation about dayBuild brand loyalty and trust your product/company per week Amount of comments each conversation generates Amount of suggestions that were purely Increase customer e.g. Amount of customer comments/ feedback received and amount actually customer generated and you hadn’t thought of satisfaction acted upon Percentage of these implemented Increase in sales and store traffic before and E.g. X amount increase in sales by XYZ date after promotion Increase store sales Number of people who heard about X% increase in footfalls promotion through social media sources X page rank by XYZ date Number of influential blogs linking to you Increase online authority X% organic traffic per month Number of repeat visitors $X from referrals Page rank relative to competitors
  15. 15. THANK YOU By Zarik (@Z_h_N) #SchulichSMM

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