As Social Media evolves rapidly, marketers and businesses struggle with producing concrete results despite the hype. Devising insights from the massive amount of data that will ‘move the needle’ can be a challenge on its own. We will discuss a simple framework to measure success and help optimize your performance in Social Media Channels.
4. Opt-in: Create two-way channel with
friends and businesses, gather email
Publicity: Social media users give
each other access to their networks
Share: Social incentive to pass along
valuable information or products
6. Listen: Tap into digital footprint to
sense and respond
Segment: Create an identity for your
users
Learn: Gather actionable insights to
reach business objectives
8. Metrics of Success: Reflect your long
term business Objectives
1. All about Benchmarks
2. Discipline: systematically improve product or
business model overtime
Online Analytics are the most cost
effective - market feedback tools
9. KISSMetrics
Cost Subscription – starts $30
Tracking Conversion funnel, Drop-offs, Source of Traffic, Saas
insights, Demographics, retention
Platforms Saas, Social Media Products
Best Use SaaS subscription analysis, conversion funnels, ROI,
Demographics of buyers
10. Cost Free
Tracking Visits, Unique Visitors, Frequency, Source of Traffic,
Traffic Sources, engagement, Bounce Rates, Demo’s
Platforms Websites, Social Plugins, Social Page Source
Best Use ROI and Economic Value Analysis, Conversion Funnel,
Traffic Analysis, Demographics, Product Launches
(Social Media Platforms), Cohort Analysis, SEO
11. Free Social Listening Tools
Site Cost Channels Metrics
Social Mention Free All Social Channels Frequency, Reach,
Sentiment , unique
topic mentions
Crowdbooster Freemium Facebook, Twitter Growth, reach,
engagement
Twitalyzer & Free Twitter Activity, Klout,
TWiTTURLY Influence
Youtube Free Youtube, Channel Engagement, Traffic
Insights and other’s video Source, drop off on
Videos
Facebook Free Facebook Pages Demographics,
Insights engagement, Fans
13. Simple Metrics of Success:
1. Conversation
2. Amplification
3. Applause
4. Economic Value ROI
14. Conversation
• Understand your audience/costumer base – What do they
respond to?
• What is your value proposition? Do you costumers care?
• Ecosystem of your Social Channels
Simple Metric: Conversation Rate = # of Audience
Comments (or Replies) Per Post
Tools: Social Listening: Facebook
Insights, Twitalyzer, Crowdbooster, Radian 6
How to Grow: Acquire Followers, Post valuable content
15. Amplification/Reach
• Can I make my product/brand go viral?
• Does it bring value to the market?
• Are there additional markets, channels I can target?
• Do my costumers recommend, or care about the incentive?
Simple Metric: # of shares or retweets per post, video
shares
Tools: Social Listening: Facebook
Insights, Twitalyzer, Crowdbooster, Youtube analytics, Radian
6
How to Grow: Increase value proposition, Engaging
Content, Incentive, Referral Programs, Additional market
targets - Advertise
16. Applause
• Do I have enough exposure, should I advertise?
• Does my audience care about my brand/product?
• Is my product positively received by my followers?
Simple Metric: # of Likes, clicks, +1’s per page, post
Tools: Social Listening: Facebook
Insights, Twitalyzer, Crowdbooster, Youtube analytics
How to Grow: Acquire Fans, possibly
advertise, Incetivize, value add of information or product
17. Economic Value ROI
• Are my effort Effective, can I quantify?
• Am I bring value to the market, how is my retention?
• Can I optimize my conversion funnel?
• Can I save on cost?
Simple Metric: ROI:
(Economic Value= Revenue+Cost Savings)/Cost of
Investment
Tools: Google Analytics, KISSmetrics
How to Grow: Acquire Fans and Emails, Optimize online
programs, Optimize Conversion Funnel, Increase value
proposition, Incentive (Referral), Decrease cost of effort/time
18. Evaluate Micro and Macro
Conversions
• Measure multi-channel impact
• It will force you to understand
the multiple paths on your
website
• Segment visitors and visits
and behavior and outcomes
19. How Do Your Channels Drive
Conversion?
• Segment Micro Conversions
• Assign ROI weights – not every
conversion is equal
• Analyze how each Channel
drives conversion, Optimize
20. Tips on Increasing Fans
Build Pages Find Fans in the Real
World
SMS to Fan (32665)
Create Incentives Promote Incentive on
Facebook
21. Check out AppAddictive.com Page-
Building Tools – Free!
In-Facebook Drag’n’Drop Widget and Template
Tool Coming Soon – March 2012