SOCIAL MEDIA METRICS

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What Matters is Measured

In many ways, social media marketing mimics online advertising in terms of the viable metrics available to measure how effective these messages are. Advertisers can measure Reach - the number of people exposed to the message Frequency - the average number of times someone is exposed Site stickiness - the ability of a site to draw repeat visits and to keep

people on a site Relative pull - a comparison of how well different creative executions

generate a response of creative advertising Clickthroughs - the number of people exposed to an online ad or link

who actually click on it Sales conversions - the number of people who click through who go

on to purchase the product Viewthroughs - the number of people who are exposed and do not

click through, but who later visit the brand’s website

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What Matters is Measured

A First Date or a Marriage? Simply counting the quantity of interactions consumers

have with a brand doesn’t tell us much about the quality of these touchpoints. We need to know the degree of engagement people feel during and after the interaction, and how these exposures influenced their feelings about the brand.

Key performance indicators (KPIs) are those metrics that are tied to organizational objectives.

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Engagement

Engagement is a complex construct made up of several individual accomplishments.

The Engagement Food Chain illustrates the hierarchy of effects we seek from our target audience as the reach increasing levels of engagement with our brand.

Figure 10.1 demonstrates how we look for different outcomes depending upon the consumer’s level of engagement with the brand.

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What Matters is Measured

A Review Measurements within a defined context are metrics. Measurements require context to provide useful feedback. Metrics that are tied to objectives are key performance

indicators. Objectives must be well-defined before we can identify key

performance indicators.

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What Matters is Measured

Campaign Timelines and Metrics

It is important to remember that the metrics we use may shift as a campaign progresses.

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Measurement matters

When it comes to social media marketing—or any form of marketing, for that matter—measurement isn’t optional.

It’s a necessity for organizations that are serious about adjusting their strategies and tactics to better meet their objectives.

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Measurement matters

Some may feel intimidated about specifying what it is they want to see happen when it comes to their social media activities.

Others may still be in the early stage of the social media maturity life cycle discussed in Chapter 2; because they’re still “playing” with social media, they don’t yet feel the need to define what results they would like to see.

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Measurement matters

But ultimately social media will have to answer to the same masters as other kinds of traditional media—the bean counters that need to see value for their money.

The investment in social media marketing will require justification.

Strategists will want to understand what’s working and what isn’t in order to decide if a campaign needs fixing or if it’s worth continuing at all.

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The Evaluation and Measurement Process: DATA

The measurement plan is organized according to a four-step process known as the DATA approach.1. Define: Define the results that the program is designed

to promote.2. Assess: Assess the costs of the program and the

potential value of the results.3. Track: Track the actual results and link those results to

the program.4. Adjust: Adjust the program based on results to

optimize future outcomes.

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The DATA Approach

Define. Define the results that the program is designed to promote.

The first task is to define just what we want to occur and what we need to measure.

SMART Objectives: Specific Measurable Appropriate Realistic Time-oriented

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The DATA Approach

Define - continued

Metrics – the specific standard of measurement used to measure the objective

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The DATA Approach

Define - continued

A common metric to gauge success is return on investment (ROI). ROI is a measure of profitability.

A Social Media Marketing Metrics Matrix Activity metrics measure the actions the organization

takes relative to social media Interaction metrics focus on how the target market

engages with the social media platform and activities Return metrics focus on outcomes

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The DATA Approach

Some other approaches to measuring return Return on impressions model

demonstrates how many media impressions were generated by the social media tactics employed.

Return on social media impact model attempts to track coverage across media and in

different markets against sales over time. Return on target influence model -- relies upon survey

data to assess the effectiveness of social media marketing.

Return on earned media model -- used primarily to equate publicity in news media outlets to its paid advertising equivalent.

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The DATA Approach

Assess. Assess the costs of the program and the potential value of the results.

Costs that have to be considered: Opportunity cost – What else could employees have done if

they were not spending time contributing to the brand’s social media activity?

Speed of response – It can be difficult to quantify the value of speed

Message control – Brands accept a risk that the brand’s message will be shared or manipulated in ways that the brand would rather not have happen.

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The DATA Approach

Track. Track the actual results and link those results to the program.

The tracking step in the DATA process involves the following components:

Identify tracking mechanisms Establish baseline comparisons Create activity timelines Develop transaction data Measure transaction precursors Overlay timelines and look for patterns

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The DATA Approach

Track - continued

The three approaches to tracking:1. Forward tracking – tracking mechanisms are

developed prior to launching the campaign

2. Coincident tracking – tracking that begins during the campaign

3. Reverse tracking – tracking that is conducted after the campaign is concluded

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The DATA Approach

Track - continued

Baseline – a metric that allows a marketer to compare its performance on some dimension to others things such as how competitors are doing or how its own efforts fluctuate over time

Measurement Maps – display the types of branded messages produced and distributed and invitations for consumer engagement with the brand and online location for these materials

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The DATA Approach

Adjust. Adjust the program based on results to optimize the outcome on future programs.

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The Evaluation and Measurement Process Simple Ways to Start Measuring

Content consumption: Who is interacting with and consuming the brand-generated and consumer-generated content?

Content augmentation: Who is adding to or changing your content by continuing the conversation with response posts?

Content sharing: At what rate are those exposed to the brand messages sharing the content with others using Share tools?

Content loyalty: How many consumers have subscribed to branded content with RSS feeds or by registering for site access?

Content conversations: Who is discussing the brand?

Content engagement: Is the number of friends to brand profiles growing?

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