SOCIAL MEDIA METRICS 10 Learning Objectives What is

SOCIAL MEDIA METRICS 10

Learning Objectives What is the role of metrics in social media marketing programs? What are the steps in the DATA approach to measurement? What characteristics do most commonly used social media metrics share? How do we calculate social media ROI? How do we assess the costs and benefits of a social media marketing program? How do we track social media results? Social Media Marketing, 2 e© 10 -2

No social media marketing campaign will conclude unless _______ are set and _______ has been assessed. Objectives / effectiveness Social Media Marketing, 2 e©

As we discussed something like buying radio commercials, we addressed, as does Chap. 10, terms like ____, the number of people exposed to a message. reach Social Media Marketing, 2 e©

As we discussed something like buying radio commercials, we addressed, as does Chap. 10, terms like ____, the average number of times someone is exposed. frequency Social Media Marketing, 2 e©

______ is the ability of a site to draw repeat visits and to keep people on a site. Site stickiness Social Media Marketing, 2 e©

______ is a comparison of how well different creative executions generate a response of creative advertising. Relative pull Social Media Marketing, 2 e©

____ are the number of people who click through who go on to purchase the product, while ____ are the number of people who are exposed and do not click through, but who later visit the brand’s website. Sales conversions / viewthroughs Social Media Marketing, 2 e©

Simply counting the quantity of interactions consumers have with a brand doesn’t tell us much about the quality of these touchpoints. We also need to know: The degree of engagement people feel during and after their participation, the interaction with the brand, and how these experiences influenced their feelings about the brand Social Media Marketing, 2 e©

In discussing social CRM tactics, the CRM stands for ______ Customer relations management Social Media Marketing, 2 e©

KPI stands for ____ Key performance indicators Social Media Marketing, 2 e©

We organize our social media marketing measurement plan according to a four-step process known as the DATA approach, where DATA stands for: Define, Assess, Track, Adjust Social Media Marketing, 2 e©

To make sure our objectives are clear enough that we can adequately measure them, the key is to state them so they have what SMART characteristics: Specific, Measureable, Appropriate, Realistic, Time -Oriented Social Media Marketing, 2 e©

A ______ is a specific standard of measurement. metric Social Media Marketing, 2 e©

Of the three types of metrics, ______ measure the actions the organization takes relative to social media. Activity metrics Social Media Marketing, 2 e©

Of the three types of metrics, ______ focus on how the target market engages with the social media platform and activities. interaction metrics Social Media Marketing, 2 e©

Of the three types of metrics, ______ focus on the outcomes (financial or otherwise) that directly or indirectly support the success of the brand. return metrics Social Media Marketing, 2 e©

ROI stands for ______ and SMROI stands for _____. Return on investment / social media return on investment Social Media Marketing, 2 e©

_____ is a measure of profitability, while _____ answers the question, “How much income did our investments in social media marketing generate? ”. ROI / SMROI Social Media Marketing, 2 e©

Facebook offers Facebook Insights, Twitter offers Twitter Analytics, and You. Tube offers You. Tube Analytics, all of these are _______ tools, collecting the data we need for making assessments and organizing the data in a way that enhances their utility. tracking Social Media Marketing, 2 e©

_______ tracking means that the tracking mechanisms are developed prior to launching the activity or campaign. forward Social Media Marketing, 2 e©

_____ tracking begins during the activity or campaign—it can be effective in that it relies on residual data. coincident Social Media Marketing, 2 e©

_____ tracking is conducted after an activity or campaign has concluded— it also uses residual data and may include primary data collection such as surveys to assess the effects of the campaign. reverse Social Media Marketing, 2 e©

What Matters Most? I came here to show you a way that could save four million dollars of search marketing while boosting online sales by 6– 8%. Social Media Marketing, 2 e© 10 -24

What Matters is Measured Reach: The number of people exposed to a message. Frequency: The average number of times someone is exposed to a message. Site Stickiness: The ability of a site to draw repeat visits and keep people on the site. Clickthroughs: The number of people exposed to an online ad or link who actually click on it. Sales Conversions: The number of people who click through who go on to purchase a product. Social Media Marketing, 2 e© 10 -25

Numbers versus Metrics Four thousand two hundred and thirty-one is a measurement. Without context, it is merely a number. When compared with your personal best, company expectations, or your competitors’ efforts, that number becomes a metric. It is now indicative of value, importance or a change in results. Social Media Marketing, 2 e© 10 -26

Figure 10. 1 The Engagement Food Chain Social Media Marketing, 2 e© 10 -27

Key Performance Indicators Measurements within a defined contexts are metrics. Measurements require context to provide useful feedback. Metrics that we tie to objectives are key performance indicators. Objectives must be well-defined before we can identify key performance indicators. Social Media Marketing, 2 e© 10 -28

The DATA Approach Define: Define the results that the program is designed to promote. Assess: Assess the costs of the program and the potential value of the results. Track: Track the actual results and link those results to the program. Adjust: Adjust the program based on results to optimize future outcomes. Social Media Marketing, 2 e© 10 -29

DEFINE Motivating some behavior from the target audience. Influencing brand knowledge and attitudes. Accomplishing the first two objectives with fewer resources than might be required with other methods. Social Media Marketing, 2 e© 10 -30

SMART Objectives Specific Measurable Appropriate Realistic Time-oriented Social Media Marketing, 2 e© 10 -31

Which One is Smart? “We will tell everyone we can about our Facebook page and see if they like it so much they’ll buy more product. ” “We will promote our new Facebook page in print ads placed in the June issue of Rolling Stone. On July 15 th we will count the number of Facebook users who ‘like’ our brand compare sales to the same period last year. ” Social Media Marketing, 2 e© 10 -32

Table 10. 1 Commonly Used Social Media Metrics WOM volume Asset popularity Media mentions Brand liking Reach Engagement Customer value Social Media Marketing, 2 e© Ratings and bookmarks SEO Traffic Share of voice Influence Sentiment 10 -33

Elements of the Marketing Metrics Matrix Activity Metrics (input): What is placed in the indicated social media spaces. Interaction Metrics (responses): How the target market engages with the social media platform and activities. Performance/Return Metrics (outcome): Outcomes that directly support the success of the brand, financially or otherwise. Social Media Marketing, 2 e© 10 -34

Return Metrics Return On Impressions Model Return On Social Media Impact Model Return On Target Influence Model Return On Earned Media Model Social Media Marketing, 2 e© 10 -35

ASSESS Opportunity Cost: What else could employees or volunteers have done if they weren’t spending time contributing to the brand’s social media activity? Speed of Response Message Control: The brand’s message will be shared or manipulated in ways that the brand would rather not have happened. Social Media Marketing, 2 e© 10 -36

Blog Value Index (BVI) BVIa = [adh (aay/1, 000)] / [abt * ehw] adh = average daily hits aay = average advertising yield abt = average number of hours spent per day blogging ehw = employee hourly wage of the blogger Loss of Technorati Social Media Marketing, 2 e© 10 -37

TRACK Identify tracking mechanisms. Establish baseline comparisons. Create activity timelines. Develop transaction data. Measure transaction precursors. Overlay timelines and look for patterns. Social Media Marketing, 2 e© 10 -38

Tracking Approaches 1. Forward Tracking: Developed prior to launching the activity or campaign. 2. Coincident Tracking: Begins during the activity or campaign. 3. Reverse Tracking: Conducted after an activity or campaign has concluded. Social Media Marketing, 2 e© 10 -39

ADJUST Apply what you’ve learned to future activities and investments. Social Media Marketing, 2 e© 10 -40

Start Measuring Content consumption Content augmentation Content sharing Content loyalty Content conversations Content engagement Social Media Marketing, 2 e© 10 -41

Recap and Questions What is the role of metrics in social media marketing programs? What are the steps in the DATA approach to measurement? What characteristics do most commonly used social media metrics share? How do we calculate social media ROI? How do we assess the costs and benefits of a social media marketing program? How do we track social media results? Social Media Marketing, 2 e© 10 -42