What Do Social Media Metrics Mean? | oneforty This is a guest post by @LizaSperling, a social business professional in San Francisco, CA. If your eyes glaze over when considering the slew of social media metrics (SMM) companies are tracking, you are not alone. You could dedicate all of your time to chasing metrics, but you don’t have to. Just start here. Measure what can be measured: Some metrics cannot be calculated. We’ll help breakdown what some of these metrics actually mean and offer you a few examples of tools that do a particularly great job at measuring that metric. 1. Tool: Alterian SM2 2. Tool: Lithium SMM / Scout Labs 3. Tool: Radian6 4. Sysomos’ MAP tool offers the Buzzgraph, a way to track frequently used words around your brand. Tool: Sysomos (Buzzgraph) 5. Tool: Tweetreach 6. A sentiment algorithm with at least 70% accuracy will save you the time required to read, interpret and hand score every mention. Tools: Attensity360, Lithium SMM/Scout Labs (Quotes) 7. Tools: Klout and Twitalyzer
The 10 Social Media Metrics Your Company Should Monitor While companies are starting to adopt Social Media for online marketing campaigns, and even letting employees participate, the question of ROI (Return on Investment) arises, along with doubts about what metrics to measure. How do you know how effective your social media campaigns are if you’re not measuring any metrics, let alone an overall ROI? Below, we discuss ten important Social Metrics for companies. According to 2009 Mzinga & Babson Executive Education study, over 80% of professionals do not measure ROI for their company’s social media programs. Granted, Social Metrics and their measurement techniques are relatively new, and this might account for the lag in tracking. However, there are some organizations measuring social metrics, which enables them to eventually measure ROI. Visitors and sources of trafficNetwork size (followers, fans, members)Quantity of commentary about brand or product These are easily understandable common social metrics. Social media leads.
Social Media ROI What social media costs to do (or not do) and the value of a Facebook Fan inShare0 The most vexing question in social media is cost, especially since the primary currency is time, resources and knowledge: Pay someone to do? Hire someone? Or do it yourself? For a brand or business, it mostly comes down to the return. For the person, business or agency doing the work, it’s proving value and profit. I am asked these questions frequently. WHAT IT COSTS TO DO: The average cost to staff and execute a social media effort is $210,600/year. The cost for the two staffers, a Community Manager at $93,600 for 30 hours/week at $60/hour, and a Social Media Strategist at $52,000 at 10 hours/week at $100/hours, also does not include overhead or health insurance if your hire someone as opposed to outsource. Many companies hire Community Managers first because, from a salary standpoint, it costs less per hour. Another point to consider is, for companies spending this amount today, they spent zero 3 to 5 years ago. How does this relate to ROI of your social media costs?
Case Study #3: InfusionSoft Uses Social Media to Reduce Customer Service Costs If you have been following this blog, you might remember that I posted this a while back. But with the new year here, I thought it might be good to repeat some of the case studies while adding new ones... just incase you missed them or incase you wanted a refresher as you start down the path of providing a solution to your company social media needs! I had the privilege to speak to the call center director, JoAnne at InfusionSoft.com when I first started my research on the affects of social media on customer service. I had asked some of the luminaries in social CRM, like Paul Greenberg, who I should talk to. He suggested I should speak to Helpstream. JoAnne was typical of many customer service professionals today. InfusionSoft is a web-based provider of marketing automation software for companies with fewer than 25 employees. JoAnne told me, "Two years ago, we had approximately 1 customer service agent for every 55 customers and a 77% customer satisfaction rating. Learn.
The ROI of Social Media: 10 Case Studies - TNW Social Media The question of whether or not social media drives ROI still plagues many marketers and brands. The issue is not always as straightforward as it seems, as there are multiple ways to measure the benefits of social media and it isn’t as simple as looking for a direct sales return at one end, with the social media imput at the other. Smart tracking and measuring is needed to fully capture the benefit of a social media campaign and while looking for direct ROI is one way to do it, there are other values to be measure from social media marketing. I’ve put together a list of case studies that prove the ROI of social media, both through direct monetary return, customer loyalty, repeat traffic and more. Social media outperforms banner ads An excellent way of ascertaining the value of social media is to look at how it performs compared to more established channels or advertising methods, such as banner ads. Social media saved Cisco $100,000 Old Spice put their money where their mouth is
How to Measure the Return on Social Media Contests Have you thought about running a social media contest? Wondering how to best measure your return on investment (ROI)? This article will help with three case studies. But first, about that ROI… It took some time after the advent of online advertising before marketers started asking, “What are these ‘eyeballs’ worth that I’m paying for?” With social media, the tough questions around metrics started being asked much sooner. As marketing budgets stay tight, it’s no surprise that the need to show results is high. So when it comes to contests on the social web, how do we go about evaluating ROI? Investing in Your Social Media Contest Before you can demonstrate a return, you must first make an investment! As mentioned in my previous post on social media contests, it’s important to have a well thought out marketing plan for any promotional campaign. Once the objectives are set, you can determine the type of promotion and how you’ll communicate. What’s the Return on Social Contests? Objectives Results
gt; Calculer le ROI des médias sociaux est une perte de temps Les semaines se suivent et se ressemblent : pas une conversation sans que l’on me parle du ROI des médias sociaux. Je veux bien comprendre que les directions générales ou autres donneurs d’ordre ont besoin de données chiffrées avant de prendre de lourdes décisions, mais n’avions-nous pas dit qu’une présence sur les médias sociaux se construit dans la durée et ne nécessite pas de gros budgets mais une implication ? Avant de me lancer dans mon argumentation, laissez-moi vous rappeler plusieurs choses : Les médias sociaux sont des territoires d’expression et d’interaction formidables qui offrent d’innombrables possibilités. Ceci étant dit, intéressons-nous maintenant aux effets pervers du ROI : Le calcul le plus simple que vous puissiez faire est celui du coût d’acquisition d’un fan. Au final, vous pouvez vous rendre compte que le ROI n’est véritablement pas la bonne approche : ni l’investissement, ni le retour ne peuvent être calculés de façon fiable. Je vous laisse méditer là-dessus…
gt; De l’intérêt et de la difficulté d’exploiter un tableau de bord Investir les médias sociaux est un travail de longue haleine qui vous demandera plusieurs années d’efforts avant de démontrer son plein potentiel. Contrairement aux campagnes d’acquisition de trafic via des mots-clés qui offrent un impact immédiat, une présence sur les médias sociaux est difficilement quantifiable à l’aide d’indicateurs numériques (cf. Calculer le ROI des médias sociaux est une perte de temps). Cependant, une démarche ambitieuse mobilisant plusieurs personnes en interne et de nombreux prestataires et sous-traitant doit nécessairement être surveillée, les indicateurs de performance sont là pour ça. Mais tout n’est pas si simple, car encore une fois, les KPIs traditionnels reposant sur des valeurs numériques ne traduisent pas forcément bien la valeur ajoutée d’une présence active sur les médias sociaux (cf. 3 approches différentes des social media analytics). Plusieurs solutions commencent donc à se positionner sur ce créneau :