Trust Agents: Using the Web to Build Influence, Improve Reputation, and Earn ... - Chris Brogan, Julien Smith - Google Books Factiva Social Media Roundtable helps to answer “What should we measure” Summary Last night, Factiva hosted a group of Social Media Practitioners, Bloggers, Corporate Program Managers, PR consultants, room in Palo Alto to try to make sense of Social Media Measurement. Most agreed measurement is important, After last night, we’re a little bit closer, the details of the findings are below. Background Information I’m a former customer of Factiva, I suggested they progress their offerings to better measure CGM/Social/New Media, this event is a response to that discussion.Those that attended already are thought and practice leaders the audience was not the uninitiated.Metrics of last era to don’t apply to Social Media, I believe that a new way of measuring will come about.Social Media is complex, complicated, and filled with nuances, as it mirrors or extends ‘real’ life, we will never be able to fully measure and categorize, it doesn’t mean we shouldn’t try.It’s important to note the following:1) Social Media is about people. Observations Additional Resources
Tips for developing a social media strategy Tips for developing a social media strategy Details Published on Friday, 26 October 2012 11:05 Written by David Brewer If those who make up your audience use social media – and they do - you will need a strategy. If you don't have one, you will lose part of your audience. Your social media strategy needs to be based on engagement and participation. How to join that conversation and what to contribute is the issue. Note: This module was written for an international conference of media organisations discussing social media. So what does a media organisation need to consider when developing its social media strategy. 1: News gathering All journalists should monitor what is happening on social media by using free desktop tools. Corporate: These will be the key words that your media organisation is covering. 2: News production The typical news production process was: The social media production process includes: 3: News dissemination Don't just tweet your headlines on Twitter. 7: Encourage sharing
Evaluating the Effectiveness of Modern Strategies Social media Web sites like Facebook and Twitter began as networking hubs for friends and family members. Seeing the successes of these online applications, enterprises and small businesses have joined the bandwagon, by building relationships with their customers online and marketing their brands to a new demographic. In this new form of marketing, companies have been challenged to develop a standard for measuring their return on investment. Social media is an umbrella term that defines the various activities that integrate technology, social interaction and content creation. Within the realm of social media are the growingly popular social networks. Literature Review Many marketing professionals have analyzed the business approach to social media. Simon Dumenco evaluates the results of social media marketing in his article, “Be honest: What’s your real Twitter and Facebook ROI?” These articles, as well as many others, seek to explain the phenomenon that is social media marketing.
5 Ways to Measure the Success of a Social Media Campaign If you’re running a social media campaign you are probably not doing it for fun – you are most likely looking for results. In most cases, the intended outcome of a social media campaign is to strengthen and increase awareness of your brand. In the past, traditional marketing efforts in this arena were difficult to evaluate due to the complications of determining the link between a campaign and brand awareness. One of the appeals of social media marketing is the fact that, as a digital campaign, it is possible to measure various metrics and so evaluate the effectiveness of your campaign. 1. Unfortunately, measuring your brand reach or potential viewers of your social media campaign is not quite as rudimental as tracking the total number of Facebook fans and Twitter followers you have. For example, with Twitter your total potential reach over the course of a month is made up of your followers and the followers of those that re-tweet your message. Become a fan during the month 2. 3. 4. 5.
HOW TO: Calculate the ROI of Your Social Media Campaign Jamie Turner is the chief content officer of the 60 Second Marketer, the online magazine for BKV Digital and Direct Response. He is also the co-author of “How to Make Money with Social Media” now available at fine bookstores (and a few not-so-fine bookstores) everywhere. First the bad news: If you’re going to calculate the ROI of your social media campaign, you’re going to have to know math. That may come as a disappointment to people who thought social media was only about accumulating Twitter followers or monitoring Facebook “Likes,” but it’s true. The future of social media is about math, metrics and monetization. The problem is that most companies aren’t doing an effective job of measuring the value of their social media campaigns. If you’re one of the people who isn't measuring your social media campaigns on an ROI basis, you’re setting yourself up for failure. Understand the Value of Your Social Media Campaign Fear not. The 3 Categories of Social Media Measurement What You'll Need
How to Evaluate a Social Campaign - DigitalSurgeons.com Social media has become one of the biggest enigmas of the Digital Age. It is widely accepted as not just a means for socialization, but also a viable marketing strategy. As brands quickly find new and interesting ways to utilize social media as a marketing vehicle, they all hit the same roadblock: how to measure success? The equation we prefer for valuing our social media campaigns is: V = (n/1,000) x CPM. So let’s say the CPM (cost per 1,000 impressions) of an ad that reached those same people was $.296. $.296 is the current rough average CPM on Facebook’s ad platform. 79,000,000 divided by 1000 is 79,000. 79,000 multiplied by a $.296 CPM equals a value of $23,384! However, until a universally accepted measurement metric is created, it is still a matter of personal preference.
Framework: The Social Media ROI Pyramid Often, our industry can appear complicated, and yearns for simplicity. One such technique to glean simplicity is to develop frameworks which the corporate social strategist can then apply to achieve their business goals. I’ve been working on this “ROI Pyramid” framework for a few months now, and am ready to share in greater detail than on my keynote at LeWeb (slides and video) where I introduced this to the public for the first time. [The novice provide executives with engagement data --causing themselves to be stuck in the churn of obtaining more followers and fans --without a clear business goal] 140 social strategists around the globe at enterprise class size companies indicated their top internal objectives for 2011 is to “Create ROI Measurements” Experimental mediums require proof they work. [The seasoned professional provides executives with business metrics first. Excess variety of data options, and disparate platforms. Matrix: Understand the Social Media ROI Pyramid
Réussir avec les réseaux sociaux | Dramatic Difference in Approach to Social Media Metrics Marketers appear to be inching closer to answering the question of social media ROI—or at least making a serious effort—as the stakes get higher. eMarketer estimates four out of five US businesses with at least 100 employees will be marketing on social media this year, and US ad spending on social networks is expected to reach over $3 billion. And according to research from Bazaarvoice and The CMO Club, marketers are planning to change the way they measure the effectiveness of those dollars. Site traffic, which was the top metric for social marketing success in 2010, will still be on top this year. Asked about social media activities with the highest ROI based on older metrics with less of a focus on the bottom line, CMOs were most likely to say they did not know the return from any channel other than their company’s online community. Keep your business ahead of the digital curve. Check out today’s other article, “Big Opportunities Behind Online Health Research.”
Pinterest Introduces Business Accounts and Tools Pinterest paved the way for greater business participation on Tuesday with the launch of a new set of resources designed just for them. Companies will now be able to create business accounts, which allows them to enter just a business name — rather than a first and last — and verify their websites using a hidden line of code. Once the code has been recognized, businesses will receive a verification badge on their Pinterest profile pages. It's not quite as good as Twitter's profile verification — it would still be easy for someone to impersonate a company on Pinterest by verifying a URL that was similar but not owned by the brand — but it's a start. Companies that already have a personal account on Pinterest will be able to convert it to a business account. During the sign-up process, companies will also be encouraged to add Pin It and Follow buttons to their sites, and embed widgets showcasing their pins. Image courtesy of Pinterest.