Social media monitoring & metrics: a top-level guide
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MONITORING AND MEASUREMENT Mark Farmer ADaPT-ICTS, Ryerson University May 13, 2014
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In 2014, your brand is what your customers say it is. That's why it’s important to listen to customer conversations: to identify issues, serve customers, handle crises, keep tabs on the competition, and more. This presentation, given to Ryerson University's ADaPT-ICTS program on May 13, 2014, will get you started with social media monitoring & measurement.
Transcript of Social media monitoring & metrics: a top-level guide
MONITORING AND MEASUREMENT
Mark Farmer
ADaPT-ICTS, Ryerson University
May 13, 2014
Why this is important
“What gets measured, gets managed.”- Peter Drucker
“What gets monitored is what matters.”- Mark Farmer
A little about me
You
?
What you’ll learn
How to monitor conversation online How to measure the impact of what you
do online Applying this to your personal brand Applying this in a professional capacity Not going to be a lecture –
going to learn through the tools
Why listen online?
In 2014, your brand is what your customers say it is.
That applies to corporate brands as much as to your personal ones.
It’s important to listen to these conversations. It’s how we identify issues, serve customers, handle crises, keep tabs on the competition, and more.
From these come actionable business intelligence and marketing insights.
It’s also where marketing and PR live, increasingly.
Why measure online?
Results Since they’re objective and empirical, they
remove subjectivity, opinion and conjecture from business decision-making processes.
That de-personalizes things. Keep you honest.
There are lies, damned lies & statistics, but people vote with their clicks.
ROI
Return on investment (Gain from investment - cost of
investment) / cost of investment In other words, you want to get out more
then you spend ROI != ROAS
Inputs
Time Money Human resources Opportunity costs
Outputs
Bottom line Sales revenue
Tangible results Sign-ups for a newsletter
Intangible results Sentiment / reputation
Something inbetween Engagement Advocacy Audience / reach
What do you measure
Audience Potential reach
Reach How far does your message travel?
What do you measure
Engagement How much does your audience engage with
you, and how often? How much do they share, comment on, or like your content?
What do you measure
Sentiment Is your audience saying positive or negative
things about you? How negative or positive is the overall tone?
What do you measure
Influence Are you influencing your audience to take
actions? Are you reaching key influencers?
Trivia?
Reach - Specifics
Facebook Total reach Impressions
Instagram Followers
LinkedIn Followers
Reach - Specifics
Twitter Followers
YouTube Subscriptions Views Minutes watched
Traffic and interactions on websites and blogs driven by social
Engagement - Specifics
Facebook Engagement rate Number of ‘stories’ created by users
(i.e. number of interactions) Page likes / post likes Clicks
Instagram Likes
Engagement - Specifics
LinkedIn Likes Comments
Twitter Favourites Retweets Clicks (ow.ly / bit.ly)
Engagement - Specifics
YouTube Likes Favourites Shares Subscribers
Influence - Specifics
Number of mentions by top influencers, as identified by Radian 6 / Sysomos
Sentiment - Specifics
Net sentiment change in Radian6, Sysomos
Sentiment around an issue / event
The good news
You can start measuring the results of your efforts right now, without spending a dime, using native or freemium dashboards.
You can sometimes dive into enterprise-level dashboards as trials.
Tools – Enterprise dashboards
Salesforce: Radian6 Sysomos: Heartbeat Meltwater uberVU
Tools – Native dashboards
Facebook LinkedIn Twitter YouTube Instagram (Iconosquare)
Paid platform-specific dashboards
Hashtracking Tweetreach Tailwind EdgeRank Checker
Freemium dashboard
Multi-platform paid dashboard
Selling it to the C Suite – don’t
How do we turn this into money? You don’t necessarily - it’s part of a
marketing funnel “You set ‘em up - we knock ‘em down”
mentality Change over time Sentiment - proxy Social care Social CRM
Problems
Twitter reach: http://www.unmarketing.com/2012/04/15/
when-we-exaggerate-our-size-everyone-loses/
The magic formula
Try something. If it works, do more of it. If it doesn’t, do less of it. Rinse, repeat.
Resources
Olivier Blanchard - Social Media ROI: http://www.amazon.ca/dp/0789747413
Beth Kanter - Measuring the Networked Non-Profit: http://www.amazon.ca/Measuring-Networked-Nonprofit-Using-Change/dp/1118137604
Katie Delahaye Paine - Measuring What Matters: http://www.amazon.ca/Measure-What-Matters-Understanding-Relationships/dp/B00D821V28
Avinash Kauishik – Web Analytics 2.0: http://www.amazon.ca/Web-Analytics-2-0-Accountability-Centricity/dp/0470529393
Reach out
facebook.com/markus64 ca.linkedin.com/in/markfarmer64 twitter.com/markus64 webheresies.com
Appendix A: listening
Passive Listening The most basic level. There is no
interaction at this level, just listening.
Appendix A: listening
Active Listening Takes passive listening further by
interacting with audience members online. This can be as simple as acknowledging a question, commenting on a conversation, or liking a comment.
This helps personalize digital media, and demonstrates that you’re active and responsive.
Active listening can help you learn about customers, their concerns and perceptions.
Appendix A: listening
Social Care Social care takes listening to the next
level by using social channels as a way to deliver customer service, responding to complaints and concerns, fielding requests and so on.
As people see an organization respond to customer care issues online, they become more likely to use these channels for customer care themselves. This may shift more customer care online from traditional channels.
