After watching this
video you should be prepared to identify the two primary reasons to measure
social media efforts and use them to guide your digital analytics strategy to
explain why,
Economic value is about
more than how many products you sell to an outline the four primary social
media specific,
Metrics and their
purposes and to identify the appropriate applause indicators on major social
channels let's begin lesson to social media,
Social Media Marketing Measurement
Specific metrics and
back in part one of this series we talked a little bit about what exactly it is
we meant by measurement that it's about more than just so-called measuring a
channel it's,
About measuring the
impact of the channel it's figuring out how to find value because what happens
all too often when we talk about measurements is,
People get focused on
those those easy to see social media metrics that are just right there in front
of you how many followers do you have on pinterest,
You know how many likes
did you get on that facebook post how many thumbs-up happened on youtube and
again those have value and we'll get to those but measurement is about more
than a,
Predefined set of
formulas that everyone needs to follow yes there's going to be some things that
are across the board but really when it comes down to creating a measurement
plan for your,
Campaign or for your
company your goals are going to define what has value so to get things rolling
you need to be able to ask yourself a couple questions,
Because as with
everything else we've learned it'll all come down to what works best for you
what your business needs to have happen so you need to ask,
Yourself things like
what is it that you need to know where can you get that type of information and
what will you use the data for because if you don't take the,
Time to ask these
questions it becomes all too easy to find yourself in that place of analysis
paralysis where there's just so much information coming,
In and you really don't
know how you're actually going to leverage it or do something with it now
there's two main goals when it comes to social media and a lot of this is about
perspective because there's a,
Million different things
you can measure but all comes down to two key points of value the first one is
the idea of whether or not your efforts were worth it the primary reason we
measure our,
Social media efforts is
to answer that question with the amount of time and money and effort and
staffing that we put into it rewarded by a positive enough roi to,
Justify that investment
that's the first and foremost thing we always want to look at is are we wasting
our time or is what we're doing actually helping us,
Progress further the
number two purpose of measurement is improvement this is the other key thing
that we're looking for is to gain the knowledge needed to make our efforts more
effective the next,
Time around basically to
create that process of learning refining and then relaunching our efforts when
it comes to looking at measurement and sort of digital analytics from the
social media side there are definitely some areas that are very particular to
this area of,
Marketing in fact way
back in 2011 avinash kaushik introduced four key measurement points that could
be used for social media and there's still a great starting point today if you
want to read the whole article that he put,
Together you'll see the
link down there at the bottom tiny url slash fl - measure that'll take you
right to it but i'm also going to walk you through sort of what they are and
what they look like in terms of practical,
Application so basically
he boiled down the idea of sort of the high level social media measurement into
the area of economic value conversation rate amplification rate and applause
rate now when it comes to economic value the,
Basic idea here is to
look at the total revenue that's being produced by your efforts while also
considering the cost savings that's provided by those efforts because keep in
mind a lot of times with social media it's not necessarily the,
Direct value of how many
products did we sell but it's also how your social media efforts the connection
points that are created there what it enables to happen within your business so
sometimes that's direct,
Sales you know clearly
you want to track the sales to come from your social media promotions so you
know if you you've put something out on facebook specially if you're you know
using discount codes and,
Stuff it's fairly easy
to go in and track that to see okay how much revenue came from this particular
sale or this particular campaign but sometimes it's about saving money through
the way you,
Leverage social media
maybe you're reducing call center traffic maybe you're having reduced brick and
mortar hours because you're doing more selling online maybe you're using it to
test,
Products before you
launch so there's a great quote from one of the marketing team over at
infusionsoft that talked about the differences that happened when they made use
of social media to engage the customers to answer questions you know to not
necessarily have everything go through customer service agents and,
They said two years
before they started the initiative they had approximately one customer service agent
for every 55 customers and a 77% customer satisfaction rating now after they
implemented their social media,
Parameters they found
that the ratio could drop to one agent to 172 customers and they actually saw a
bump up to 87 percent customer satisfaction rating said infusionsoft social
media initiative save the company millions of,
Dollars in overall
support cost and produced a 10 percent increase in customer satisfaction so
again that comes back to that economic value that's created through the actions
taken in social media,
Now the same way that
some companies find that they really pull some nice economic value in from may
be lowering customer service needs or you know changing call center costs a lot
of times companies also get that media,
Benefit so a great
example of this is kraft who estimates that it pulls 1.1 billion ad impressions
per year at four times better roi from their content marketing and social media
efforts than they do from their targeted advertising,
So again it becomes
about shifting things over a little bit so that you're still getting that
benefit but there's not quite as much money going in behind it and that comes
into the economic value side of things now understanding,
Conversation value means
understanding that it's more than engagement because most of us consider sort
of the conversation that happens in social media to be engagement and there's
truth to that but we're looking a little deeper at the the idea of whether
people are commenting on your posts responding to your updates and otherwise
engaging,
With you and there's a
lot of different ways we can look at that one of those is the idea of
conversational response so are they replying to what you're putting out there
are people engaged or,
Your social posts met
with silence you know it's not uncommon for us to see this happening on
channels like facebook where people put out an update and,
There's literally zero
response in fact sometimes only a teeny tiny infinitesimal amount of their
followers are even seeing that update due to algorithms on the other hand
sometimes,
That content goes out
and it's just massively received you know people absolutely love it and engage
with it that conversational response helps us,
Understand what in
particular people really like and what they care about so there's also the idea
of conversational resonant this is the idea of which topics in particular tend
to produce,
Positive conversation or
open the door for more engagement so by taking the time to look overall at the
content you have coming in and identify those places where you see really
really great resonance really really high levels of,
Interest especially
organically that's one of those opportunities to look deep and see what was the
content what was it we put why did that resonate so well with,
People and what do we do
to create more of that type of content sort of what's the what's a happy medium
of how often we can leverage that before maybe we push it a little too far and
it loses its value so again it's learning how to,
Identify some of those
wins in the areas of potential there's also the idea of conversational
direction this is basically saying based on what we're learning how are we
going to adapt our,
Efforts moving forward
what new opportunities exist for content and for campaigns where do we go next
you know what are we seeing get brought up in a comment somewhere or you know
maybe we're looking on pinterest and,
We're seeing what's the
name of the pin board that they saved our content to because maybe they're
leveraging it in a way that we didn't think about that helps us know where we
want to go next, now if we move on to the idea of amplification rate to try and
understand what that looks like this beco
Mes about,
The idea of a combination
of share and reach because amplification is the measurement of how far your
message manages to travel once you sort of,
Release it into the wild
of social media so this includes everyday sharing it includes influencer
exposure this includes when things tend to go viral so there's several things
we want to look at here one is the base level knowledge that amplification is a
strong indicator,
Of reception and value
basically that people like you people don't tend to share content unless they
find value in it yes there's times where they share it because they're upset or
frustrated at,
It but they're still
finding some measure of value worth engaging and talking about so the amount of
amplification that's taking place is a good indicator of how well your
content,
Is resonating with
people now amplification rate is also a good indicator of connection power in
other words how influential is your sort of starting point base level visitors
and,
The people who tend to
engage with you and share your content because social sharing might help you
pick up some new eyeballs but really strong amplification that indicates pick
up by influencers,
And evangelists within a
vertical or it indicates an extraordinary amount of interest that might go past
what your normal content tends to pull no amplification looks different on,
Every network it's best
measured on an individual basis with different pieces of content on those
individual channels overreach is a great sign of really strong amplification
overreach basically,
Means your message is
getting to more people than what that initial starting point of your reach was
meaning it's extended past what you were capable of doing on your own now when
we look at,
These different networks
and we look at what's going to sort of indicate that amplification on facebook
we're looking at things like the shares per update on twitter it's about the
retweets per,
Tweet on instagram it's
your regram on pinterest at your reap ins on youtube it's your shares you kind
of get the general idea here it's someone taking what they found and passing it
along to the next person now when we look at a channel like say youtube we can
take an example video so for example the,
Crystallized video from
lindsey stirling we can see that she has 2.9 million youtube subscribers but
when we look at the reach of this individual video we find that 70 million
people viewed it that's roughly 25 times her subscriber,
Count that's a pretty
great indicator of the amount of amplification that was taking place with this
particular video it not only went past or you know not only reached a good
portion of who,
Followed them you know
that her followers themselves came in to watch it not only went past that but
it completely blew it out of the water so again great indicator of excellent
amplification now when we move on to the,
Idea of applause rate
this comes down the feedback this is less about sharing or conversation and
it's more about the,
Positive social
reinforcement that takes place on channel these are the likes the favorites you
know things like that pause rate is an indicator of sentiment or
like-mindedness it's basically,
Approval that positive
reinforcement through social endorsements that serves as a good indicator of
the willingness of your audience to communicate and of,
What they like so again
when we're we're looking at a piece of content on youtube it's not just the
amount of views it gets it's also looking at what's the,
Thumbs up versus the
thumbs down because that's one of those things that people look at when they
land on the content cocaine maybe a ton of people watched it but did they like
it so when,
There's way higher
thumbs up then there are thumbs down that's a really good indicator that's the
applause rate that says to someone this video is probably,
Going to be worth
watching if they're searching for something on pinterest they're going to look
at the number of reap ends and the number of favorites and likes that are
taking place because that's an indicator of how many other,
People have found this
to be really valuable content and that's going to help give us that social sway
to determine whether or not we want to,
Engage with that
individual piece of content now applause rate much like some of the other areas
tends to be specific to the individual social channel you're,
Looking at so again on
youtube that's going to be the thumbs up per video on pinterest it's going to
be the number of likes per video on twitter it's the favorites on facebook it's
the likes proposed but it's really important to,
Remember that of all of
the ones we've talked about applause rate in particular is not always a
reliable indicator a lot of that's going to depend on the individual social
channel that you're,
Looking at because the
true value of a pause rate is tied to that specific channel it can really be a
strong indicator on facebook or on youtube where people are used to giving the
thumbs up they're used to giving you,
Know clicking that like
button but it's less so on places like pinterest and twitter where people tend
to share their their approval through the sharing action so on pinterest it's
more likely,
That they're going to
reap n than it is that they're going to click that like or favorite button on
twitter they're more likely to retweet something they're really like or to
respond to it then to,
Click that favorite
button so you have to have some understanding of the channel that you're on and
what you're trying to measure to know whether or not it really is going to give
you that,
Reliable indicator of
what your applause rate looks like now wrapping it all up it's really critical
to remember that there's a difference between understanding measurements what
we need,
To measure sort of how
we need to measure between doing that as a marketer versus doing that as an
analyst because an analyst clearly needs to have way more tools and way deeper
insight and,
Information here so if
you're coming at this from the marketing side this should give you that base
level knowledge and insight to be able to go and talk to your digital analysts
to be able to say here's what we're looking for to be able to help,
Interpret some of the
data they bring back to you if on the other hand you're at a small company
where you rely on yourself to be able to do the analytics to do the,
Measurement i'd really
suggest that you take the time to dig deeper by jumping into our web analytics
course here at simply learned because there's going to be a lot more detail a
lot more information and a lot more input on what it looks like to really get
in and,
Gather that data also
consider taking a look at the conversion optimization course because that's
where you're going to learn a little bit more about things,
Like maybe split testing
and what it means to try this effort versus that effort and to understand how
that,
Factors in to the
testing that goes along with analytics now wrapping this all up your key
takeaways from this video are one that it's rarely a good idea to base your
metrics off of standard issue options you need to make,
Sure that you're using
your campaign goals to define the metrics that are going to be worth tracking
for you in this particular circumstance number two conversational value not
only helps you measure engagement it also helps you,
Identify the content
that's making an impact so that you can use that to plan your future content
strategy number three amplification rate serves as a,
Really strong indicator
of consumer buy in towards your content basically do they like it do they
approve of it and do they think it's worthwhile to pass on to others number
four applause rate,
Tends to be the least
accurate social media specific metric but it does serve as a very good indicator
of interest and offers the benefit of social proofing to help sway engagement
from users who come,
In and see that applause
rate in effect and then finally while all marketers need an understanding of
measurement it's best to work with a trained,
Analytics expert for
your data or to take the time to familiarize yourself more deeply with what it
looks like to really dig into the data this concludes, lesson to social media
specific metrics with that we come to the end of section 10 social media measurement.
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