Metrics, Metrics, Metrics- Social Media Success, from Planning to Measurement

Social media engagement and metrics.

Social media is becoming more and more important to marketing managers. According to the CMO survey, social media spending in marketing budgets will double in the next five years. With such a big increase managers need find the best ways to evaluate their efforts, improve performance, and show ROI.

When it comes to social metrics, many marketers are out of their depth. There are thousands of metrics being pushed into the information sphere, but using metrics for the sake of using them does not improve performance. To choose metrics that work marketers need to consider the company’s strategy and their desired outcomes. The American Marketing Association recommends using the following framework to assist in metric selection and implementation.

social-media-strategy

Social media goal setting

The goal should be the company’s desired outcome of the campaign. It is also the broad idea that your objectives will work to achieve. The goal should be aligned with broad company strategy. Here are some examples of good social media goals:

– Increase brand awareness

– Improve consumer interaction with the brand

– Increase brand power

– Improve customer service

– Increase sales

Based on these goals the company needs to set SMART objectives (Specific, Measurable, Attainable, Realistic, Time-specific), set a social media strategy and tactics to reach the goal, and find metrics to measure success.

Here is a brief example of the framework in action:

social-media-plan

Social Media Plan

Sentiment:

Sentiment relates to tone of social media posts and conversations. By looking at positive and negative tones you can get a grasp of general opinion of your brand. This links closely with customer service and bad service obviously leads to negative feedback online. This can be done manually or with learning software.

Content and engagement:

Metrics can really help to determine which content resonates most with an audience. Finding out which content the audience engages with is key here. Some metrics that help:

  • Amplification
  • Cross channel engagement comparisons
  • Return visits / time spent on site
  • Interaction per unique view:

Sum of likes, shares, comments

—————————————

Unique page views

The interaction per unique view gives a view of how engaging the content is as a whole, taking into account that some people prefer to comment while others like to remain more distanced and share or like the content.

Some metrics for sales increases

Dollars driven by sharing                       Visits driven by sharing

——————————–         &           ——————————–

Total sharing total sharing                        Total sharing

 

Metrics are only the beginning, and once you have good metrics, bring on the analytics!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s