Measuring your social media impact
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21 de Sep de 2011•0 gostou•567 visualizações
Measuring your social media impact
21 de Sep de 2011•0 gostou•567 visualizações
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Measuring your social media impact - the challenge facing all public relations and marketing professionals. As presented by Vicky Brock to the delegates of the Canadian Tourism Commission's annual GoMedia Canada Marketplace in Edmonton Alberta.
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Measuring your social media impact
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Notas do Editor
- 1. Social media has to be measured on relevant indicative actions taken by the target market (not weak "noise" based metrics). Passive metrics are self-delusion - active participation is what you're looking for as even engagement is when someone both cares and interacts. But those actions/interactions may be at the start of the ultimate business conversion process, not the end. So direct response based ROI alone is also misleading. Direct response sales is an unwise single metric for social, unless that is the specific goal of the strategy, whereas establishing two-contact with 5,000 new prospects in a target network is a good KPI.
- 1. Social media has to be measured on relevant indicative actions taken by the target market (not weak "noise" based metrics). Passive metrics are self-delusion - active participation is what you're looking for as even engagement is when someone both cares and interacts. But those actions/interactions may be at the start of the ultimate business conversion process, not the end. So direct response based ROI alone is also misleading. Direct response sales is an unwise single metric for social, unless that is the specific goal of the strategy, whereas establishing two-contact with 5,000 new prospects in a target network is a good KPI.
- 2. If you do one thing, start listening as well as talking. Listen to the mqarket, listen to the data.Think about which conversations you are prepared to step into – there will always be a level of background noise to filter out. Whose opinions matter most to your audience? You can’t control the conversation but what will make you call the lawyers. There is no point listening unless that is preparing you for a set of responses. As well as social listening tools, search behaviour is a leading indicator that cannot be ignored - understand how your comms activity is already manifesting in both brand and discovery search. “The marketplace is a conversation” Cluetrain Manifesto is as true as ever
- The universe will not last long enough to measure everything. Beware of "me too" strategies and metrics. Like any other form of analysis, you have to be really really specific about the business objectives and match goals, success indicators & metrics that go with them. If it is about customer service enhancement then the social media metric set is completely different than if its about conversion. If it is about brand repositioning then sentiment, brand association, velocity of comments among new and existing customers are way more important than in a straight acquisition strategy - as is really active listening. The data is there, the tools are there - you'll have more than you ever need. Acting on the data is the harder part. The only way to use them effectively is to be really specific about the goals and to have some idea of the kind of actions you'd like the data to inform. Pick three good metrics that pass the "so what" test and know what type of action you'd need to take if they plummet or soar. Ultimately commercial businesses are looking at sales, costs and customer loyalty/satisfaction.
- It used to be that your website was the centre of your marketing activity and official media partners your distribution channels. This is no longer true – media fragmentation means that your website is only one of many places people encounter your brand. Your website plays the transaction role – it is the conversion engine. The marketing conversation is one in which you participate, rather than control.
- Metrics and performance indicators give you the prompts you need to take actions. They only make sense if you have clearly defined actionable goals first. Raising awareness is too vague – it lacks action on the part of the prospect. Real goals tie back to making money, saving money and increasing loyalty/satisfaction.
- In the usual attribution model used online – the last click (the traffic source closest to the final sale) gets all the credit for the sale. Those sources generating awareness can be further from the sale, so under attributed
- Successful social media activity isn’t often immediately directly attributable. Other conversion mechanisms, like search and email, can often be overly credited at its expense – this impacts budgets and resources.In the last click ROI model, only when a person goes directly from social media right through the payment/or other process to conversion does social media get credit.BUT, social media sets up opportunities for conversion (amongst other things) - it is not necessarily a direct response channel like email.Even when conversion occurs, it is not always synchronous with the original social media action that created it. The opportunity to convert created in social media, may turn into revenue weeks or months down the line.
- This multi-channel view of the conversion process in Google Analytics shows the impact of different channels across multiple visits. Notice that only in some cases is social the last click channel – yet clearly it is playing an important role.
- Notice how different channels are either more or less likely to be last click channels. Those with final column ratios above 1 are “upper funnel” channels – meaning they assist more often than they close conversions.
- Different social sources have different assisting to closing ratios. Notice here how Flickr assists, whereas Facebook closes.
- The last click and assisted conversions can be tracked in Google Analytics. To rigorously attribute conversions where social influences but never sends traffic requires controlled experimentation and attribution model development. This requires skilled resources. But you can still get direction information by using search activity as a proxy
- The term Caledonian Canal is not a normal search term for this business – it is related entirely to a spot on the BBC programme Coast. The second wave is when the programme was rerun and supported by social media activity.
- Twitterstream, and the new Twitter Analytics, are examples of tools that help you understand the scale and content of activity
- Tools like Wordle can be used to get a quick overview of blog comments, Facebook comments, or any commenting text you want to understand
- consumer generated, socially networked, social media means that there are different things to consider when planning a strategy – these include influence, connectedness, authority/trustworthiness to the target market, visibility, responsiveness, willingness to recommend and advocate, the “character” of the neighbourhood.
- 1. Social media has to be measured on relevant indicative actions taken by the target market (not weak "noise" based metrics). Passive metrics are self-delusion - active participation is what you're looking for as even engagement is when someone both cares and interacts. But those actions/interactions may be at the start of the ultimate business conversion process, not the end. So direct response based ROI alone is also misleading. Direct response sales is an unwise single metric for social, unless that is the specific goal of the strategy, whereas establishing two-contact with 5,000 new prospects in a target network is a good KPI. 2. If you do one thing, start listening as well as talking. As well as social listening tools, search behaviour is a leading indicator that cannot be ignored - understand how your comms activity is already manifesting in both brand and discovery search.3. Beware of "me too" strategies and metrics. Like any other form of analysis, you have to be really really specific about the business objectives and match goals, success indicators & metrics that go with them. If it is about customer service enhancement then the social media metric set is completely different than if its about conversion. If it is about brand repositioning then sentiment, brand association, velocity of comments among new and existing customers are way more important than in a straight acquisition strategy - as is really active listening. The data is there, the tools are there - you'll have more than you ever need. Acting on the data is the harder part. The only way to use them effectively is to be really specific about the goals and to have some idea of the kind of actions you'd like the data to inform. Pick three good metrics that pass the "so what" test and know what type of action you'd need to take if they plummet or soar.