CFOs hold social media outreach to the same standard as any other marketing tactic -- the amount of revenue it brings in. Explain your campaign in terms of these 5 metrics and you’ll find it much easier to get your CFO to jump on board.
How many Twitter followers do you have? How many Facebook fans does your page have? At the beginning these were the stats that we all wanted to know. Clearly, since then things have moved on and nowadays there are a wide variety of social media metrics that marketers, comms professionals and even customer service reps keep track of. But in the time poor world of modern business, collating and analysing this data can be time consuming, especially when you’re trying to extract data from different sources and it’s not always clear which metrics you need to be looking at.
Measuring what matters doesn’t mean measuring the data that’s harder to find, it means measuring what you actually want to achieve, not what you think will affect it. So, while social metrics may be important KPIs, they should never form part of what you’re looking to achieve. Defining a clear business objective and figuring out how you will measure it plays an integral role in any strategy. And understanding the effectiveness of any channel in the long-term will ultimately lead to more long-term thinking and stronger business results further down the line.
By now, you’re likely already convinced that social media is an important part of your business or brand’s marketing strategy, otherwise you wouldn’t be reading this. What you may be less confident about is exactly what role all this posting on Facebook & Twitter plays in your greater marketing plan and, more importantly, how you can track it in a meaningful way that will lead to growth and ROI.
“Vanity Metrics” is a term that’s ruling (and rocking) the influencer marketing space right now. The term refers to any form of followers or engagement that have been purchased to boost one’s perceived clout or influence. In other words, you can literally buy your way to social media stardom with the click of a ‘BUY NOW’ button.
Over the past 6 years that we’ve been managing social networks for business, I’ve often heard this question. “Why do we need to be on social media, and what does it really do for my business & brand?” To be real with you, I don’t think that there is an easy answer to this question! Being that social has so many benefits and outcomes, it’s really hard to pinpoint this answer with a quick elevator pitch.
You are a small business owner who has been trying to optimize your website for a while now. You want to know whether you’re making progress. Rather than just trust your gut, are there any third-party tools you can use to measure your website's power and influence?
Most organizations still do not have a data strategy. They may collect data, but they are still struggling with knowing exactly what, where and when to measure. That’s why many of us cling to very simple measurements of success like pageviews and likes. “It’s time to kill the pageview as a measure of success,” said Liz White, Head of Strategy and Business Development at Poshly during a session at SXSWi 2015. She is one of a growing chorus of voices advocating new measures of the effectiveness of content, putting less emphasis on the number of people who see content and more emphasis on how people engage with content.
This week I moderated another Social Media Today webinar as part of their Best Thinker webinar series, this time on the topic of: Stop Drowning in Digital Data: Social Listening for Campaign Measurement. This webinar was sponsored by Brandwatch and featured panelists from Brandwatch, Sony Electronics, and Visa. We discussed why, and most importantly what, you should measure for your campaigns.