Tag Archives: social media tools

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

Where is Your Organization on the Social Media Listening Maturity Model?

23 Jul

Quite often I am asked to consult with a company on their social media listening strategy. Their initial question more times than not is about the listening platform they should use. But it is increasingly common for the questions to be more sophisticated and the ambition behind them to be much greater. Companies with experience in social listening know that it is all too easy to focus on rudimentary analysis of brand mentions and topics, Followers and Likes and never get to the truly actionable insights that lead to marketing or business actions. Experience in listening is an important element here but you also need a path to follow. I thought a maturity model approach to social media listening could provide a possible path to consider and would provide a construct that could be used in consulting with a company on their social listening strategy.

Maturity models are sort of hot – there seems to be a proliferation in the last two years or so. One that I find particularly insightful and helpful when thinking about social listening is Forrester’s Social Maturity Model.  Two really important points the folks at Forrester make is that listening is not the goal, social intelligence is, and that social intelligence informs actions taken by marketing or some other area of the business. Action being the operative word here. Social intelligence is a closely related topic to social business, and if social business is more your thing the Dachis Group has an interesting social business maturity model.  Big data more your bag? Check out IBM’s big data governance model. After looking at the models out there, I could not find one specific enough to social media listening so I took a stab at creating one.

Social Media Listening Maturity Model 

There are five stages in the Social Media Listening Maturity Model, beginning with reactive alerts and ending with social intelligence. Let’s take a brief look at each stage and some of the overarching differences or changes one sees with social listening maturity.

Reactive Alerts – Many companies or brands begin by establishing a reactive alert system that notifies them whenever their brand is mentioned or is mentioned with specific keywords. Think Google Alerts. Companies in this stage may only periodically check social media channels to see what may have changed or is new since the last check-in.

Monitoring Social Media – At the next stage, the company has begun active monitoring of all ‘owned’ social embassies. They also are monitoring social media conversations, often focused on trying to detect any ‘bad’ news, mentions or conversations.

Companies in these first two stages generally have a reactive stance toward social media, viewing it as another way to find out about news and circumstances that may harm or otherwise impact the organization. It is common for companies in these stages to use one or more of the various free tools available to gather web and social media data.

Social Listening – The third stage is most likely where the largest percentage of companies reside today. Companies in stage three are listening to social conversations about their company, brands and products. They are tracking mentions of competitors and calculating share of conversation. Many also track issues and topics that are important to their brands/products/company. At this stage many begin to put additional emphasis on ‘who’ is talking (source) not just what is being said (post). Most companies in the social listening phase have transitioned from free tools to paid platforms.

Companies in the first three stages often suffer from having too much data and not enough insights. They are up to their necks in ‘big data’ but lack the experience and expertise to analyze the data and reduce it down to crisp, actionable insights supported by the data. They look for the Insight button on the tools they use but increasingly realize insights are the product of human analysts, not tools or data.

Strategic Listening – The transition to strategic listening brings with it a bias toward ‘listening with a purpose’. I first heard this turn of phrase from my friends at Radian6 and use it often. Listening with a purpose is just that – listening to specific sets of conversations with a specific goal or objective in mind. Often in insight work, the goal or objective may take the form of a hypothesis we are trying to test. Here are a few examples of listening with a purpose:

  • Listening for conversations of consumers in a particular phase of the buying decision process
  • Listening to customers whose subscriptions or policies are about to expire that are expressing thoughts of changing vendors
  • Identifying, tracking and building relationships with key influencers
  • Listening for consumer reactions to new packaging or product features
  • Mining the emotional content of specific stakeholder groups to determine potential risk around a sensitive issue.

During this phase, an Enterprise listening strategy is often developed and implemented. Some also begin to integrate data from sources beyond social media – search, web analytics and customer data for example.

Social Intelligence – Forrester defines social intelligence as the process of turning social media data into actionable marketing and business strategy. Social intelligence therefore is not about the best times to tweet or whether or not a twitter party would be an effective tactic, it is about informing strategic decisions that impact the company’s success. For me, three concepts are crucial:

  1. Action – social intelligence is designed to drive true actions.
  2. Integration – although the definition focuses on social media data and insights, the fact is that true insights often require more than just social data. Integrating data from multiple data sources – consumer survey, behavioral tracking, social posts, search analytics, advertising data, customer records, scan/sales data – allows for greater understanding and richer insights. Integration of multiple data types often requires multiple tools and platforms to aggregate and analyze the data.
  3. Sharing – For social intelligence to truly take root within an organization, the data and insights should involve cross-disciplinary groups that can look at the data from different perspectives and collectively arrive at better insights than any one group could in a vacuum. The insights then need to be systematically shared broadly across the organization so they may be acted upon in a manner that will create the most impact. Social intelligence can be a catalyst to the silos within an organization tumbling down.

Since the social listening and social intelligence ‘markets’ are relatively immature, this model will continue to evolve and be refined.

Where is your company today on the social media listening maturity model?

Social Media Listening Platforms – Plan, Select, Deploy (Part One – Plan)

19 May

It is not difficult to find a social media listening platform/tool – there are over 100 to choose from.  What is difficult is to find the right tool.  It takes a keen understanding of your scope and requirements.  It takes an evaluation and selection process that will surface the best platform to fully meet your requirements.  And it takes a well thought-out process for deploying the platform across the organization in an effective and efficient manner.   There are many questions to be asked and answers to be given.  Asking the right questions at the right time is crucial.

It is helpful to think of the overall process in three phases:

Plan – Define requirements, stakeholders, scope

Select – Create a platform evaluation process tailored to your unique requirements

Deploy – The selected platform across the organization with training, workflow and other important issues addressed.

This three-part series will tackle each phase one at a time.  First up – Plan.

In many ways, the planning phase is the most important.  Overlook an important detail here and you may or may not be able to overcome it later.  Here are ten topic areas to discuss within your organization to make sure you are setting yourself up for success.

  1. Stakeholders – What are the primary stakeholder groups within my company or organization?  Possible stakeholder groups might include marketing, corporate communications and customer service/care at the macro level.  Depending on the size of your organization, various regions, divisions, groups or product lines may also be distinct stakeholder groups.  Once you have identified the primary stakeholders, set up time to meet with each group.  Understand how they currently use social listening tools and what, from their perspective, are ‘must have’ capabilities versus ‘nice to have’ capabilities in a social listening platform.  Ask each stakeholder group the applicable questions from the list below.
  2. Geographic Scope – What languages and countries are stakeholders interested in including in the platform?  Try to understand the relative priority of each country and language.  Also be sure to comprehend future requirements.  For example, if Chinese is not a priority today but will be within two years, you may want to only consider listening platforms that support two-byte languages.  Also probe to assess if social media content will need to be translated into other languages.  This may be primarily an internal workflow issue or outsourcing issue, but might also be a platform consideration.
  3. Value-added Services – It is very important to develop a point of view on how monitoring, analysis and reporting will be done within your organization.  Will each stakeholder group be responsible for doing this themselves or will a centralized analytics and insights group be responsible?  In addition to the self-serve approach, you could consider outsourcing this work to your social listening platform vendor or to one of your agencies – PR, digital or advertising.  In my experience, it is easy for a company or organization to underestimate both the skill and time commitment necessary to make the self-serve approach effective.
  4. Content/Data Types – Social media listening platform vendors generally include content from the primary social media properties –  Facebook, Twitter, Blogs, Forums, YouTube and MySpace (being generous here).  Flickr is also included in many.  Currently on vendor roadmaps are properties like Linked-In and perhaps customer review sites.  Make sure the content types the platform supports meets your stakeholder requirements.  It is also very important to understand how the social content is being aggregated and how frequently (see Reporting for more on latency issues).  The fundamental ways in which content is aggregated in social listening platforms are crawling the web, RSS feeds and third-party content aggregators (e.g. Boardreader for Forums).  Many platform vendors employ a hybrid approach.
  5. Metrics and Analytics – Most social listening platforms either have a set group of analytics that deliver specific metrics or they offer configurable analytic ‘widgets’ that may be used to create metrics like share of conversation or volume and tone trend.  Some platforms offer a combination of these two approaches.  Based on your needs and measurement strategy/approach, define the analytics and metrics you would ideally like to see (e.g. volume, sentiment, messages, share-of-conversation, association with key topics).  In the vendor selection phase, this list will be useful to compare and contrast vendors.
  6. Keywords and Topics – During the planning phase, it is wise to develop a list of the major keywords and topics you believe will be necessary for the listening platform.  These keywords might include the company name, key competitors, industry issues, market segment names,  brand names, product names, key spokespersons, executives and competitor and industry spokespersons.  Social media listening platforms have varying degrees of sophistication with respect to their search capability.  Some have full Boolean logic, others offer very simple AND/OR logic.  The importance of this difference depends to some degree on you company/brand name as well as the sophistication of the people who will be configuring and maintaining your system.  If, for example, your company name is a common word (e.g. Apple, Visa), you will need stronger logic capabilities that include proximity search.
  7. Integration – Integration of varying data types – search, web, social, advertising, customer opinion and others – is the present and future of online measurement.  It is therefore important to understand what capabilities, if any, the social listening platform vendor has to integrate with other data types/streams.  Do they offer the ability to connect with web analytics packages via API for example?  The web/social integration is becoming increasingly common.  If you need to integrate traditional media with social, it might be a nice feature if the social listening platform allows third-party content aggregators like Factiva, Lexis Nexis, VMS or Critical Mention.
  8. Reporting – During the planning phase it is helpful to think through a series of questions about reports and reporting.  What type of reports are necessary?  Who will be responsible for their creation?  How often will reports be issued?  Does the system need the capability to automatically generate and deliver reports?  What about automated alerts?  There are quite a wide range of report capabilities represented by the various vendors in the listening space.  One potentially critical area to explore during the vendor evaluation phase is related to report frequency and perhaps to report type (think crisis).  That is how often new content is brought into the system.  Content latency issues may cause real problems during a fast-moving crisis.  Generally, the content latency differs by media type.  Best for Twitter and worst (perhaps) for forums, some of which restrict crawling to no more than once per day.  Within Twitter, the type of relationship the vendor has with Twitter should also be explored.  Not all Firehose arrangements are the same.  While most social media listening platforms claim to be ‘real time’, it is interesting to ask the vendors to define what they mean by ‘real time’.  The answers may surprise you.
  9. Access – Discuss who needs access to the listening platform and what they want to see and be able to do once they are in the system.  Do your different stakeholder groups (Divisions, product lines, brands, corporate, marketing, etc.) want or need a customized view of the data perhaps presented on a separate dashboard within the system?  It is also a good idea to have a perspective on who your power users will be versus the casual users.  This distinction applies not only to system access, but also in areas like training.
  10. Engagement – Some social media listening platforms support engagement with content owners directly from the platform, others do not.  Some engagement capabilities are elegant, others are rudimentary.  Make sure to explore the engagement needs of your stakeholders and understand how important this capability is to them in the short and long-term.  If engagement capabilities are important, you will also want to explore if the system allows users to tag content, assign content, manage assignments and track workflow.

In Part Two, we’ll examine a rigorous process for social media listening platform vendor evaluation and selection.

Don’t Let the Tool Tail Wag the Measurement Dog

19 Jul

Social media listening and measurement tools are sexy.  Well, at least to those of us in research and measurement – it’s all relative right?  In the last three years or so there has been an explosion of social media tool vendors and platform choices.  Tools are sexy and important, but in the grand scheme of things are being overemphasized to some degree.  We are letting tools decide what we can measure without giving sufficient thought to what we should measure.  We are letting the tool tail wag the measurement dog.

There are several steps and decisions that should be addressed prior to selecting a tool or suite of tools.  Consider this diagram as a starting point to help you think through these interim considerations and decisions:

OBJECTIVES

Proper social media objectives should be measurable (indicate change in metric of interest and timeframe) and aligned with desired organizational outcomes.  Understanding the social media objectives will suggest broad parameters the measurement program, and ultimately the tool decision, must operate within.  For example, geographic coverage requirements, type of content to be considered and on-platform engagement capability may all be strongly suggested based on a review of social media objectives.

PROCESS

In addition to comprehending organizational or business outcomes, it is essential to understand the business process the social media program will address or drive.  If the program is marketing oriented, the sales funnel process (Awareness/Consideration/Preference/Sales/Loyalty) may be most appropriate.  For a brand-building campaign, the brand pyramid (Presence/Relevance/Performance/Advantage/Bonding) is what you want to measure your program impact against.  Other business processes that are commonly addressed by social media programs include customer service and support, CRM, corporate reputation and lead generation.

METRICS

Understanding the requisite business process the social media program is driving is crucial because each business process drives specific metrics.  For example, the sales funnel drives a specific metrics set:  percentage of unaided or aided awareness; percentage of the target audience who would consider the product/company; percentage who prefer the product/company; incremental sales revenues; percentage who would purchase the product again number or the number/amount of repeat purchases.  For B2B companies, the lead generation process would drive a different set of metrics: number of incoming leads; percentage/number of qualified leads; lead conversion rate; sales revenues generated.  In addition to the business process metric sets, there are other metrics areas like Exposure and Engagement we will want to address.  Reach/opportunities to see, share of positive discussion, comments/post ratio, number of @ mentions and RTs per 1000 followers are examples of ‘standard’ metrics that might be applicable for many social media programs.

Understanding how the social media program drives a specific business process is also important to our ability to describe the impact or, in some cases, return on investment the program has created.

DATA SETS

Each metric has data requirements, usually two pieces of data per metric – a numerator and a denominator.  Examine the set of metrics you have defined for your social media program.  Catalog all the specific pieces of data you need to compute the various metrics.  For example, the data needed to compute the basic sales funnel metrics and some ‘standard’ metrics might include:

  • Number of individuals in the target audience
  • Number of survey respondents
  • Number of respondents ‘aware’ of the product/company
  • Number of respondents who would consider/seriously consider purchasing the product/doing business with the company
  • Number of respondents purchasing the product
  • Amount of sales revenue directly attributable to the program
  • Number of purchasers who purchased again
  • Total branded mentions
  • Volume of positive and negative mentions
  • Number of posts
  • Number of comments
  • Number of RTs and @ mentions
  • Number of followers

TOOLS

Armed with an understanding of all the data needed to calculate the metrics required to measure the social media program, you will be able to assess which tools or classes of tools best deliver the data you need.  Pick the best three to five tools for further evaluation.  You most likely will find no one tool can deliver the complete data set you need.  It is common to need two or more tools, e.g. web analytics package and social content analysis platform, in order to fully meet data requirements.  Budgetary constraints may also limit your ability to capture the entire data set required.

By addressing the interim steps leading up to tool selection, you will be able to make a more informed tool decision.  You also will have a much better chance of measuring what you should measure rather than settling for what you can measure.  No tool before its time.  Let the big dogs run.

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