ioeti social media metrics
Post on 13-Sep-2014
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Soc`ial Media Metrics
Jamie MurphyUniversity of Western AustraliaMurdoch University
Summary
• Social Media Hype•Metrics Overview•Metric Myopia versus Metric
Madness• Free Tools•Digital Goals and Metrics•Closing Thoughts
Social media is like teen sex
Everyone wants to do it.Nobody knows how.When it’s finally done, there is surprise it’s not better.
Avinash Kaushik - Analytics Evangelist, Google
Metrics Overview I
• Behavioural measures• Key Performance Indicators (KPIs)• Often ratios (CTR, Conversion) and trends• Seek continuous learning and subsequent
improvement•Many digital measures• Only one Magic Measure
Metrics Overview II
•Actionable insights rather than digital trivia• Should be simple and easy to obtain•Must align with objectives•Help measure, assess and explain•Cost time and money
ROI: The Magic Measure
Benefits/Gains – Costs ------------------------
Costs•Media and channel agnostic•Types of benefits and gains•Types of costs•Benefits > Costs
New Media, and Metrics, DailyStumble blindly with few metrics or measure many things?
Less Is More
• Paralysis by analysis•Metrics cost time and money to gather•Meaningless or meaningful metrics• Actionable?• Test an idea or campaign• Measure results• Tweak idea or campaign• Repeat the process (A/B testing)
Free Tools | Google• Analytics (install now | bounce rate)• Search filters (try now)• Blogs• Discussions• Length
• Insights• News• Blog Search• Alerts• Website Optimizer (A/B) testing• Keyword Tool
Free Tools | Other
• Facebook Insights• Technorati to search and rank blogs• Del.icio.us • Feedburner fors ubscribers• Compete|Alexa for website traffic• Digg|Stumble Upon for social bookmarks • Boardtracker/Twing for forums
Qualitative Goals
Easy to understand, hard to set and measure• Loyalty• Trust• Passion• Interaction• Brand Awareness
Social Media Players
• VISITOR – voyeurs, customers and competitors• CONTRIBUTOR – interested, opportunists,• DISTRIBUTOR – evangelists/passion,
opportunists/profit
Digital Objectives | Measures
• Sales, online and offline (sales, traffic, conversion)• Publishing|Advertising revenue (visitors, page
views, time on site)• Community building (engagement, influence,
sentiment, posts, other interaction)• Targeting|Segmenting (member ranking,
influence, velocity, comments/post
Digital Objectives | Research
• Find conversations, themes, evangelists, opportunists, buzz and opportunities•Watch competitors• Baseline and assess trends• Track changes• Platform specific and generic
Share of Voice (Altimiter)
• Percentage of brand mentions in social channels (i.e., articles, blogs, comments, Tweets, videos, etc.) in a competitive set• Establish the percentage baseline on
existing market share such as revenue or customers• Segment by social media channel
Engagement (Altimiter)
• Percentage of visitors who participate such as comments, likes, sharing and links.• A leading indicator for dialog about a
specific topic or product. • Variations Audience Engagement help
identify hot and cold issues and topics.
Conversation Reach (Altimiter)• Unique visitors who participate in a
specific conversation across one or more social media channels. • Align the conversation with a specific
marketing initiative, topic or keywords. • As reach depends on the topic, benchmark
and examine trends.
Promote Advocacy (Altimeter)• Percent Active Advocates• Advocate Influence• Advocacy Impact• Direct or indirect contributions of advocacy on
conversions.• Identity conversions, such as sales, document
downloads, or queries • Track referral information
In Conclusion
• Ongoing process• Align expectations with organizational
goals for each social media channel • Benchmark and monitor trends• Simplify, simplify, simplify• Automate, automate, automate
Thank-you | Questions