Tag Archives: Social Media Measurement

Five Social Media Measurement Questions I Hope (NOT) To See in 2014

2 Jan

I get asked lots of great questions about social media measurement. Following are five not so great ones I hope not to hear in 2014. 

How do you measure social media?

I get this question quite often and I enjoy it each time because if provides me the opportunity to make an important point about measurement and be a little snarky at the same time. Good stuff! When I get this question, my answer is always the same; “I don’t measure ‘social media’, I measure what you are trying to accomplish with social media.” This may seem like I’m playing semantic games, but the distinction is very important. Measurement is fundamentally about performance against objectives. So, we measure our performance against the objectives established in the social media plan. A lot of what passes for measurement in social media is really data collection – tracking Followers or Likes, blog traffic or consumer engagement on Facebook. Unless you have measurable objectives and targets in each of these areas, you are collecting data not measuring. What do you want to happen as a result of your social media campaign or initiative? Measure that.

QMarksHow much is a Like worth?

This question doesn’t come up quite as often as in 2012, but it is still asked and, unfortunately, answered largely based on flawed logic and/or research design. You may recall the first two ‘research’ studies attempting to answer this question came up with widely disparate values – somewhere around $3.14 in one case and over 100 dollars in the other. This alone should raise major red flags. Setting the flawed research aside, trying to assign a value to a Like happens because people are desperate to assign financial value to social media and determine ROI. Those are noble things to do, but we need to focus on the other end of the customer journey – have we created engagement, has the engagement changed opinions, attitudes, beliefs or behavior, and how those changes translate to Impact. Unless you understand the Impact created by your social media program you really can’t attribute value properly. I would argue that Likes, which can be bought or gamified, really have no inherent value.

Can I use a banner ad cost to calculate social media AVE?

This question is somewhat related to the ‘Like worth’ question in that it reflects a desire to quickly and easily assign financial value, when in fact assigning financial value is often hard and expensive. In this case, the questioner is attempting to take the highly flawed and discredited concept of Advertising Value Equivalency (AVE) and apply it to social media. Where this question typically comes up is in blogger relations where a company/brand/organization has worked with a blogger to earn ‘coverage’ on the blog and wants to assign a financial value to the post. They would like to say that the post is worth X, with X being the cost of a banner ad on the blog (setting aside, of course, that many blogs do not accept advertising). Equating cost with value is comparing apples to oranges. First, a better practice is not to assign value to each post, but to all the posts together in a campaign. Then instead of trying to say the campaign is worth say 14.35 ads, try to explain the actual impact the campaign has created on the target audience – e.g. increase in awareness, increase in purchase intent or, higher propensity to purchase more often. Once you understand the impact, decide if you have the data, time, expertise and budget to assign financial impact to the impact created.

Which social media listening tool do you recommend?

The correct answer to this question is, “it depends.” This is a bad question simply because there is no one ‘best’ social media listening tool for all circumstances and use cases. I believe you should always develop a set of platform requirements driven by the social listening stakeholders in your organization. Once these needs and requirements are understood, develop a custom RFI designed around the specific requirements you have identified. Have each of your potential platform partners respond to the RFI. Have the best respondents given you a platform demonstration according to a custom demonstration script you have developed. Pick the listening tool that best meets your unique requirements. The last three evaluations I have conducted for clients resulted in three different ‘winners’. There is no ‘best social listening tool, so find the tool that meets your requirements the best.

How many Impressions did we get with our latest social media campaign?

This is not a terrible question at all unless it is the only question asked or is perceived to be the key metric for measuring social media campaign performance. Too often, organizations use Impressions as their primary social media metric instead of engagement, influence or action-oriented metrics. Also, keep in mind Impressions represent an opportunity to see content, they are not the actual number of people who saw the content, that number is MUCH lower. Impressions always overstate the actual number of people who were exposed to your content and message.

If you plan to report on campaign impressions, please seriously consider only taking credit for those impressions that are directly against your target audience. If your target is 25 – 34 year old Males, you should only report on the impressions against this target group. Why take credit for 45 – 60 year old Female impressions when the product is not at all relevant to this audience?  Target audience impressions are really what you should be concerned about and what you should be reporting. Many people know and understand this but still persist in reporting all impressions because the number is usually much larger – meaningless but larger.

If you do report on Impressions, please consider using the emerging industry standard definitions developed by The Coalition. This will help ensure we define Impressions consistently and don’t confuse Reach with Impressions.

See things differently? Have your own pet peeve social media measurement questions to share? As always, thanks for reading. All the best in 2014!

@Donbart

Image credit: amasterpics123 / 123RF Stock Photo

Let’s Play 20 Questions: Social Media Measurement Style

1 Oct

On August 6, I gave a webinar for Carma, co-sponsored by PRNews called, Social Media Measurement at a Crossroads. The webinar focused on the current state of social media measurement with an emphasis on efforts to develop social media metrics standards. You may download the presentation courtesy of Carma here. There were many good questions asked by the webinar participants. I thought it might be fun to capture 20 of the questions and share the answers I gave in response. And it might be cool if you disagree with an answer, to share your different opinion in the comments.

Q1. What level of social media measurement do you think should be taught at Undergraduate level in PR or Communications degree courses?

A1. Most schools only require one research class in undergraduate education. In this class, all forms of research including measurement are covered. I think all schools should have one general research and analytics course and another specifically for measurement. I would cover traditional and digital in both courses with an emphasis on digital techniques.

Q2. What needs to happen for businesses to be able to integrate Communications Performance Management with Business Performance Management?

A2. Did Philip Sheldrake ask you to ask this question? Well, the first thing that would have to happen is for companies to start demanding it. I’ve not seen much demand for this. Once demand builds, smart people will figure out how to make it happen. The AMEC Social Media Measurement Committee is going to take on the challenge of developing a balanced scorecard approach to the social media valid framework to see where that takes us.

Q3. Speaking about social business, are you suggesting social media becomes the strategic imperative with marketing, customer service, PR, employee engagement subordinate?  So these functions will be driven by SM specialists?

A3. No, not at all. I think what we’ll see if that social media permeates all of these functions and creates new capabilities and connections between groups and between customers and companies. It is up to PR or HR people to learn something about social media, SM specialists are not going to take over the world.

Q4. Are the proposed standard social media metrics valid for native ads as well?

A4. I have not thought much about this, but my initial reaction is that the metrics for native ads would be same. A promoted tweet would have the same engagement metrics as any other tweet, although one would certainly hope the performance on some of the metrics would be better.

Q5. What do you mean when you say triage social media content for customer service and support?

A5. This would refer to evaluating and routing social content to different entities or people within an organization (customer care versus technical support versus legal, for example) that are best able to understand and act on the feedback and/or respond to the post.

Q6. Don, what do you put more emphasis on these days, Likes and Follows or Shares and Comments?

A6. I believe the emphasis should be on the stronger indications of engagement, shares and comments, than on simple Likes and Follows.

Q7. How well-known and widely accepted are the Conclave standards in the social space as a whole?

A7. The first complete set of standards were published in early June, 2013. They are known by social media measurement insiders, but I think it is fair to say they are not yet widely known. We need to promote their existence and use.

Q8. How would you measure perception and attitudes through social media?

A8. Generally we would measure consumer conversations about a topic and then do some analysis to see if there are clusters of comments that represent different and distinct viewpoints, attitudes or opinions about the issue or topic. We might also want to do an audience segmentation analysis to see how these attitudes differ by stakeholder group.

Q9. Any specific comments geared towards non-profit organizations?

A9. The basics of measurement – write measurable goals, align goals with organizational KPIs, assess performance against targets –  are the same for for-profit and not-for-profit organizations. How value is created is the primary difference.

Q10. Any suggestions to measure business impact for B2B organizations? Is there a way to understand the impact of social for B2B organizations?  

A10. Most B2B companies have a focus on sales leads. Therefore demonstrating how social is helping create leads or improve lead closure rates is important. There are a lot of uses of social listening in B2B companies as well – how the company is positioned on key issues, who is talking about the company, how products and services are being discussed, etc.

Q11. What are your favorite tools to use in terms of actually measuring your programs/channels/campaigns? Do you identify the tools as you are defining the metrics (do we have the ability to measure X, Y, Z?) or do you select tools after you define your metrics (this is what we need to know, let’s find A, B, C, solutions to measure these things?)?

A11. Generally Google Analytics, a social listening platform (Radian6, Brandwatch, Netbase, Visible, etc.), channel analytics programs like Facebook Insights and also Excel. Ideally you should define metrics first, then the data required for each metric, then look at the tools best able to get the specific data you need.

Q12. What are the most common or most surprising questions you have gotten from CMOs or other key stakeholders regarding social media measurement?

A12. CMOs want to know how social media contributes value to marketing – if they are sales funnel oriented they want to know how social is helping drive the funnel for example. They are also interested if you are helping on front-end or downstream funnel metrics.

Q13. What advice do you have for small businesses for use of and measuring success of social media campaigns effectively (few resources).

A13. Start with the free tools (Hootsuite, Excel, Facebook Insights, Twitter Analytics, Google Analytics) and then work your way up to some of the paid social listening platforms. There is no ‘best’ platform to start with – it really depends on your needs and what you intend to do with the platform. Many companies start with measuring their own channels and evolve to listening to earned/ shared social conversations.

Q14. Which social media analytics do the C-suite find most valuable?

A14. The C-suite don’t really care about social media analytics so much, They care about how social media is helping drive the business metrics forward. That said, C-level folks are usually interesting in competitive benchmarking in social and positioning on key issues and topics that are important to the business. Anything pertaining to online reputation is also an area of interest for many.

Q15. How do you determine what are the correct things to measure?

A15. Measure what matters to the organization. Measurement is about performance against objectives so make sure your measurement program is aligned with business objectives. Don’t measurement ‘social media’, measure what you are trying to accomplish with social media.

Q16. How can someone who is interested in the movement toward standard metrics get involved helping to move the PR industry forward? In other words, how can someone get involved in the debate?

A16. I would suggest interacting directly on the smmstandards.org website. Volunteer to help. Leave suggestions. You could also get involved through one of the PR associations – IPR, PRSA or CoPRF.

Q17. What software would you recommend be used by PR firms to most cost effectively measure social media efforts for clients?

A17. A good social listening platform, Google Analytics, Facebook Insights and the other packages offered by the channels, and good old Excel. Beyond that it really depends on the nature of the social media effort.

Q18. I think a lot of the issue with measurement is confidence in the measurer (i.e., your source). Whenever you cross-reference measurements (e.g. what Google analytics says vs. what your web marketing automation says like HubSpot), you can get wildly different answers. That has stopped me from putting too much faith in my metrics process. Thoughts?

A18. I might separate the issue of the measurer from the sources of data – really two different issues. Regarding sources of data, this is a true issue in that different databases yield different estimates for things like audience size. Compete versus ComScore is a notorious example. However, I don’t think this is a reason to not measure. It simply means we must state assumptions and sources and be consistent over time in using comparable sources. I believe that standard metrics will eventually lead to sanctioned sources for audience data like Arbitron (now Nielsen Audio) for radio or Nielsen for TV.

Q19. Let’s say a social media post leads someone to a landing page, but they do not take immediate action. But they come back the next week and complete the conversion funnel. How do you credit the original social media post…is this a matter of tracking cookies for x number of days? What is practical?

A19. Yep, most people count the first click and then track for a period of time depending on the type of product. It gets even more complicated if you try to suggest there should also be credit given to what happened before the first social media click – for example, money invested in building the brand. Value attribution is an inexact science for sure, with lots of assumptions and compromises.

Q20. What are best ways to measure target audience reach and engagement rather than wide general reach?

A20. Thanks for asking this. The best way to measure is to clearly define your target. If the target is Females 18 – 34, then you should only take credit for reach and engagement of this specific audience only. Given that most tools rely on voluntary bio data, the information is inconsistent and difficult to come by.

Thanks for reading. @Donbart

Social Media Measurement at a Crossroads

21 Aug

We are at a crossroads in social media measurement. Expectations for rigorous and relevant measurement have risen more quickly than delivery. Too many are fixated on quantitative outputs – speeds and feeds – at the expense of understanding the outcomes achieved by social media marketing and social business. There is still too much emphasis on vanity metrics and not enough on business results. And, if you take a step back, there is simply too much talk about all this and not enough action. At the risk of exacerbating the last point, let me explain.

 

Social Media Measurement Started with the Wrong Orientation

In the late 1990s and early 2000s, digital measurement focused on website analytics. The orientation was heavily quantitative. How many unique visitors? How many page views? How long did people remain on site? By 2007, with Facebook now three years old and Twitter completing it’s inaugural year, social media measurement was becoming a hot topic.

Crossroads1Early social media measurement practitioners generally came from the web analytics world. Early social media measurement efforts focused on quantifying outputs and not addressing the outcome of the program. The orientation was on ‘How Many?’ and not ‘What Happened?’ The quantitative orientation also came at the expense of qualitative assessment. The emphasis was on getting easily accessible statistics and not on content analysis to understand meaning and implications. These issues remain today, although we have made significant progress toward shifting the orientation to outcomes and business results.

In the early adopter phase of social media, social media measurement was under little pressure to go beyond quantitative output analysis. Many brands, companies and organizations viewed social media participation as a bit of an experiment to see how it best could be used within their organizations. But this was soon to change.

Struggle Between Easy/Superficial and Hard/Meaningful

It is difficult to pinpoint when social media crossed the chasm into a mainstream business activity. An IDC study in the Fall of 2009 suggested the state of social media still best fit the early adopter and not mainstream use pattern at that point in time. 2011 felt like the year the leap happened to me. With it came a new and emerging set of expectations around social media measurement.

Crossroads2In measurement, it is a truism that the metrics that are easiest to measure are seldom the ones that are most meaningful. It may be easy to measure outputs, but it is often much more difficult and expensive to measure outcomes. It is much easier to determine brand mentions in social media than it is to assess whether or not social programming has changed opinions and attitudes of the target.  It is infinitely easier to measure unique visitors per month than it is to determine the return on investment of a social media initiative.

Now that social media clearly is a mainstream business activity, the pressure to demonstrate the impact and value of social media has greatly increased. As the resources and investment against social media and social business become meaningful line items in the budget, the game changes. Demonstrating business impact and value requires an understanding of the business model of the company or organization and how social media/business creates impact (e.g. change in awareness, increase in purchase consideration, increase in active advocates around an issue) in that environment. Measuring impact is more difficult than measuring audience or engagement. It often involves primary audience research so the price tag is higher.

This is a key struggle we face – will we continue to take the easy, less expensive, minimal-value-of-the-findings approach or we will take social media measurement to another level, focusing on outcomes, investing in audience research and applying rigorous analytics to get at meaning and insight? The imperative is clear, how we respond will be telling. 

A Final Turn to the Right

One of the key themes at this year’s AMEC measurement conference in Madrid was creating a bias toward action. The time to (just) talk about measurement is in the past, the time for action is now. I might suggest this goes double for social media measurement. Here are three areas we can address that will help make the leap from talk to action.Crossroads3

  1. Every social media initiative has a measurement plan. Let’s make this happen. Literally any social media initiative, program or activity should have a measurement plan defined before implementation begins. Start with writing social media objectives that are measurable. Align social media metrics with business KPIs. Select metrics across multiple dimensions – programmatic, channel-specific and business-level metrics, for example. Or perhaps paid, owned, earned and shared metrics if your program is integrated across these dimensions. Collect data. Assess performance against objectives. Rinse and repeat
  2. Take a stand on standards. An exciting cross-industry effort has produced a set of proposed standards for social media metrics. Adopting standard definitions and metrics for social media is an important stage of measurement maturity that other marketing disciplines like advertising and direct marketing have already reached.
  3. Understand, articulate & demonstrate business impact.  The heat is on to demonstrate how social media is helping drive the business or organization forward. We must do a better job of connecting the dots between business KPIs, social media objectives and social media metrics and measurement. In some cases, we want to go beyond understanding attitudinal and behavioral changes to understand the financial value of the impact created. Capturing the financial value of social media requires expertise, data, time and money. We would always like to measure impact, and when it makes sense, we may push further to attribute financial value.

It will be interesting to see what the next year in social media measurement brings. The move toward standardization alone should be fascinating to watch. I have tried to make the argument we are at a crossroads or inflection point in social media measurement maturity. What ‘worked’ for us in the past will not work in the future. We know the expectations. The great unknown is how we respond.

Note: This post was inspired by a Carma webinar,co-sponsored by PRNews, I gave recently. You may download slides from that webinar here.

Social Media Measurement at a Crossroads

25 Jul

Please join me on August 6, from 2:00 – 3:00pm EDT for CARMA’s fourth quarterly webinar, co-sponsored by PRNews, titled “Social Media Measurement at a Crossroads.” Here is a little more information on the webinar:

With social media clearly entrenched as a mainstream business activity, the need to measure the impact on the organization has never been greater. While social media practitioners talk about Like or Follower growth, organizations want to understand how social media is helping drive the business or cause forward. 

Another challenge in social media measurement is the lack of standard definitions, approaches and metrics. In response, a cross-industry push to define social media standards was initiated and initial standards recently published. Social media measurement is clearly at a crossroads where new thinking and approaches are emerging.

In this session you will learn:

  • How to align KPIs and metrics to demonstrate organizational impact and value. 
  • What industry efforts are being made toward standardization and the implications for how you approach social media measurement
  • New models, metrics and frameworks you can use today to develop more effective social media measurement programs.

I will be joined by PRNews Group Editor Matthew Schwartz, who will moderate the discussion and lead a Q&A session.

Here is a link to register for the session. Feel free to leave a comment with any questions you would like answered during the webinar and I will do my best to address them. Hope you can join!

New Framework for Social Media Measurement – Update & Debate

21 Jun

The complete presentation, including speaker notes, I gave at the AMEC Summit in Madrid on June 7 introducing the AMEC Social Media Valid Framework is now available for download here. Please visit and download the slides if you are interested.

Whenever you throw a new idea or concept out there you really hope people see it. And you really, really hope they care enough about it to comment. Or better still, to challenge it and debate its merits. Simply put, critical thinking makes the concept better. Enter stage left, our provocateur, Philip Sheldrake, author of The Business of Influence. Philip has also been an active thought leader in the whole push toward social media standards through AMEC committees and the work of The Conclave. I respect his opinion very much. Philip wrote a rather long essay on his blog in response to my original post on the new Valid Framework for Social Media. Richard Bagnall, Chairman of the Social Media Measurement committee of AMEC posted a response to some of Philip’s concerns. I would like to address a few others now.  

First, one area I am not going to address in this post is whether or not any framework for social media measurement should be driven by Business Performance Management (BPM) principles and approaches. That subject is being debated very well in the comments under Philip’s original post – pretty interesting thread.

Stakeholders v. Customers v. Audiences

Philip questions if the framework, based on the words chosen to describe it, is oriented more toward customers (i.e. social media marketing) and not the broader concept of stakeholders. The intent was and is the make the framework broad enough to comprehend the majority of use cases for social media. Marketing is just one of the use cases. To be fair, the use of ‘audience’ in the description of Impact is a direct lift from the proposed standards document. We were trying to not reinvent the wheel. That said, I agree with you that saying stakeholders or publics is a more accurate description than ‘audience’ in many cases.

Influence

Hard to argue about influence with the guy who wrote a book on it, so I won’t. Philip makes the point that the model offers a definition of influence (Ability to cause or contribute to a change in opinion or behavior) but does not include the qualifying statements or concepts from the WOMMA Guidebook – the potential to influence (before) and the actual, observed influence (during/after). He goes on to say he prefers emphasis on the second. Fully agree. The short definition was offered for clarity and brevity. We will plan to reword this slightly to broaden. You’ll note the illustrative metrics shown in the framework with metrics are consistent with the during/after (e.g. change in purchase consideration) rather than before orientation. If you think about it, the before piece is really about targeting (who are the influencers we should engage?) rather than measurement (did we change opinion, attitudes or behavior of our target stakeholders?).

Value

Philip makes the point that in the model verbiage, the only reference to Value was financial impact whilst the standards definition reads, “the importance, worth or usefulness of something”. Philip also acknowledges this definition was a “last minute tweak”. It was actually being debated as the slides were being developed. We’ll broaden the definition to include tangible and intangible value to be in lock-step with the standards document.

Advocacy

Philip poses two great questions regarding this phase. His first point is a good model that includes advocacy should also be able to comprehend opposition and advocacy for competing agendas. Fully agree these are important to consider and the model certainly does not preclude that. Comprehending these factors would be addressed by one or more metrics within the framework (e.g. Net Positive Advocacy – positive minus negative advocacy) or simply as a point of analysis rather than measurement per se.

Philip’s second question is simply why Advocacy is shown after Impact. It is shown in this order to recognize the fact that most advocacy actually occurs post impact or conversion event. For example, in a sales context, advocacy generally occurs after someone has bought and had great experiences with the product or service. To be more accurate, we might also show Advocacy after Influence and before Impact. Certainly issue advocacy often happens as a direct outcome of a change in opinion or attitude. Rather than show it in two places, to keep it simple, we choose to show it in the sequence where it is most relevant. In practice one could have both pre and post-impact advocacy metrics in your measurement plan.  

Paid Owned Earned  

Philip simply questions the strategic value of this taxonomy and says it props-up organizational silos and reinforces misconceptions such as PR equals (only) Earned Media. I think the questions are valid ones. But as a practical matter many companies and organizations do use the taxonomy. That is a key reason why it is one of the framework alternatives. And while it can reinforce silos and misperceptions, I have actually seen it have the opposite impact – it recognizes integrated programs require integrated measurement and bring three key elements (different departments and sometimes different agencies) together under a common framework. Interestingly in PR, we now routinely develop programs that include earned, paid and owned elements. This reinforces the positive perception public relations today is not simply equal to earned media.

Impact

Finally, Philip questions whether any framework can consider programmatic-level or channel-specific metrics in terms of Impact. I think it can and does. Impact refers to outcomes. We can have macro and micro conversions. And we can have outcomes that are specific to programs (e.g. event attendance, voter registrations, subscriptions to a content series) or channels (download a whitepaper from the website); although I will agree there will be few channel-specific outcomes.

Keep in mind the metrics shown in the frameworks are illustrative, as Richard pointed out in his remarks, they are not meant to be exhaustive, definitive or recommended. They are illustrative of the emerging standard metrics for social media.

 

Thanks for caring.  

Digital Analytics – From Back Office to Front Page

21 Mar

Analytics have exploded into prominence in the past 15 months. What was once a mysterious statistical discipline understood by few has been elevated as the enabling technology that allows companies to unlock the potential of Big Data. Big Data was everywhereBlackboard in 2012. There was a track devoted to it at the World Economic Forum in January, 2012. In October, the Harvard Business Review had a cover section on Big Data which characterized analytics as sexy and dubbed its leading practitioners Data Scientists. And at Ketchum, we made analytics training mandatory for ALL employees in 2012, a first for our industry.

The digitization of all forms of analog data is at the heart of the Big Data explosion.  From our click behavior online to purchases we make with a loyalty card to places we go in our vehicles, everything is captured as digital data potentially available for analysis. And with the accelerating use of cameras and sensors, the volume of data promises to keep rising for years to come.

For all the talk about Big Data, no one really wants Big Data. They want the insights hidden within the data that only digital analytics can unlock. Probably the hottest area within digital analytics is predictive analytics. Predictive analytics essentially predict how consumers will behave given certain conditions, assumptions and stimuli. This has powerful and tangible benefits to marketing. An Aberdeen Group study published in December 2011 found marketing organizations that applied data mining and statistical modeling to optimize marketing efforts saw as much as a 2X lift from marketing campaigns, a 76% higher click-through-rate and a 73% higher sales lift.

Marketing organizations are seeing the tremendous power and potential of predictive analytics across a broad spectrum of marketing activities. For example:

  • Proactively optimizing marketing campaigns to improve engagement and conversions
  • Identifying customers most likely to switch companies and targeting offers to them designed to keep them as customers
  • Delivering customized offers designed to appeal to a prospect’s specific interests or life situation
  • Predicting which ‘first visit’ customers are most likely to return or not return, and sending offers targeting the ‘not likely to return’ group while avoiding the costs of making offers to those likely to return anyway.

In 2013, we have seen analytics continue to be a mainstream news subject. Analytics is only in the early migration phase from early adopters to mainstream use. Expect this trend to continue and accelerate in the coming years as more marketers discover analytics are a clear path to improving marketing effectiveness, efficiency, and ultimately, the bottom line.

Three Fundamentals of Great Social Media Measurement

20 Feb

If you want to evaluate the robustness and effectiveness of your approach to social media measurement, ask yourself these three fundamental questions:

  • Does the approach measure the ‘right’ things in order to show the business impact of the programs and initiatives? 
  • Will stakeholders of the report receive the data and actionable insights required to make strategic decisions?
  • Are the data and insights presented in a clear and concise manner that tells a story and makes it easy to understand and act upon?

Measuring the ‘Right’ Things

Social media metrics are derived from three primary sources:

Ideally, a robust social media measurement program will have a rich metrics set that contains metrics from all three areas. Metrics tied to program objectives allow for direct measurement of program success. Fundamentally, measurement is about assessing performance against objectives. It is surprising how often social program objectives are slanted toward channel-specific metrics (e.g. Likes or Followers) and not the specific outcomes desired for the program – what you hope to accomplish by implementing the program. Also, relying too heavily on channel metrics limits you to what you can measure rather than what you should measure. Business outcome metrics are used to connect the dots between social media programs and the business results they are designed to drive. Social programs that cannot answer, or at least address, the management question, “How is this impacting my business”, are more susceptible to resource allocation scrutiny (#pleasecutmybudget). Stated another way, if management asks how we’re doing in social media and we reply, “great, post virality is up 6.1% this month”, we make it difficult for that individual to understand how social media/business initiatives are helping move the business forward.

Getting to Data and Insights that Inform Strategic Decisions

Expectations for social media measurement and analysis have risen. In addition to sound analysis and reporting of performance against key metrics and KPIs, understanding audience dynamics and developing actionable insights are rapidly becoming de rigueur. Insights may be defined as synthesizing and interpreting data to provide actionable information and knowledge that informs strategic decisions. Too many social media measurement programs take a social-centric rather than a business-centric approach to insights. They often feature insights and recommendations that are tactical in nature – the best time of day or how many times to tweet, or what type of content seems to be most successful. Ideally, insights and recommendations in social measurement reports would be operating one level above this, informing strategic decisions about how social programs and conversations are impacting, or could impact, the business. To do this requires an understanding of the business function (e.g. marketing, customer service) impacted by the social program and an ability to ask the right questions prior to starting a social media analysis. 

For example, let’s say Company X plans to introduce a new video game. A social listening program has been implemented to analyze the early consumer reaction to the game. Based on the listening analysis, changes to the packaging, marketing or even the product itself are possible. If you are in charge of the marketing campaign for the game, what are the types of social media insights you need to make decisions about the game and the marketing campaign?

  • What is the level of buzz about the game?  What is the overall sentiment? How does this compare to previous game launches?
  • What are people talking about in social media – availability, cost, specific features of the game, packaging, marketing campaign?
  • What features of the game do consumers seem to like most?  Least? Specifically, what do they like or dislike?
  • What are the most influential gaming enthusiasts saying about the product?
  • Who are the promoters and detractors? What is the ratio of promoters to detractors? How does this compare to promoters and detractors from previous game launches?
  • How much social media conversation contains recommendations or expresses purchase intent?  How does this compare to previous launches?

Answering these types of questions provides actionable insights that provide context and can inform strategic marketing decisions.          

Presenting Results

Dashboards have gotten a bit of a bad rap – not because dashboards are not useful, but because some have used them as THE measurement report rather than just one aspect of a good report. I’m a dashboard proponent for a few reasons:

  • Deciding which metrics to feature on a dashboard is a good strategic exercise requiring you to focus on the very most important and relevant metrics for the intended audience
  • Online, dynamic dashboards are an effective user interface that can be used as a launching- off point for drilling into data to understand the underlying story
  • Good dashboards present a snapshot of overall performance that is easily absorbed and understood.   

A dashboard-driven social media measurement report is versatile and effective in many situations. A typical report might consist of one of more dashboards and then a deeper dive on each of the key metrics featured on the dashboards, along with audience insights, strategic insights and recommendations. This format provides a quick snapshot (dashboard) of results, ideal for those stakeholders interested only in topline data, and provides sufficient depth to satisfy those more interested in the underlying drivers of the metric  

Social media measurement programs that are built around metrics tied to business outcomes and show how programs are performing against objectives are important. Reports that deliver clear insights that inform strategic decisions are important. And delivering those reports in a compelling format that enhances usability and effectiveness is important. How do your programs stack up?

Follow

Get every new post delivered to your Inbox.

Join 170 other followers