Chapter 4 Flashcards
the general consensus among marketers is to measure and track
as many metrics related to social media as possible and see which ones make the most sense given your specific objectives.
Over time, companies have been generally shifting from measuring social media marketing efforts with purchase activities and financial outcomes to metrics reflecting
consumer behavior that are more relevant to earlier stages of the marketing funnel, such as metrics that are proxies for consumer awareness, engagement, and interest in products or brands
This shift in measuring social media marketing efforts has occurred as marketers have come to realize the effectiveness of their social media marketing activities should be measured strictly within the context of
the goals they have set, and not within the context of broader, perhaps less attainable goals, such as directly generating sales revenue.
Social media efforts and resulting interactions can affect multiple stages of the consumer decision-making process that need to be activated before any purchases can happen.
Such stages include the following:
Awareness
Engagement
Positive attitudes
Advocacy
The following metrics will tell you the size and growth rate of your social media audience, as well as how well that audience appears to know your brand, and how positive it feels about it:
Increase in both absolute and relative numbers of mentions of your brand name
Numbers of impressions of your content in paid media channels
Increase in overall traffic to owned media channels
Increase in organic traffic from search engines, and average proximity to the top of search engine results page
Increase in traffic from social media platforms to brand-relevant sites
Increase in number of views of brand-related content on video platforms
Increase in the absolute and relative numbers of people following you on various social networking sites
These metrics relate to the level of engagement and interaction consumers have with your brand on social media, including brand-related consumer-to-consumer interactions (i.e., online word of mouth between consumers):
Numbers of “likes” (e.g., Facebook) or “favorites” (e.g., Twitter, Instagram) or “thumbs up” (e.g., Reddit) for brand-related content in owned social media channels
Numbers of clicks on your content in owned social media channels
Numbers of times owned social media content is “shared” (e.g., Facebook) or “retweeted” (Twitter) or similar (sometimes referred to as amplification)
Numbers of times owned social media content is commented on in social media channels; also, the nature of comments, for example, how positive they are and how relevant they are to the brand
Amount of time spent on owned social media page or on website site
Increase in number of product reviews (if applicable)
Increase in both absolute and relative numbers of pre-conversions (e.g., actions the brand knows typically lead to conversions, such as downloads, product trials, or completing forms requesting further information; relative = measured as share of audience)
These metrics reflect the increase in positive attitudes toward your brand. Although this should be ideally measured via market research surveys, quite a few social media metrics can be helpful as well:
Approval
Absolute sentiment
Relative sentiment
Approval:
Number of approval actions for each post (e.g., likes, thumbs-ups, favorites)
Absolute sentiment:
Increase in the share of positive overall brand mentions (relative to neutral and negative mentions)
Relative sentiment:
Increase in the share of positive overall brand mentions (relative to positive mentions of other brands) and decrease in the share of negative overall brand mentions (relative to negative mentions of other brands)
These metrics will tell you the extent to which your customers help you in gaining more customers via various social interactions:
Increase in absolute and relative numbers of positive testimonials on various social media platforms and owned channels
Increase in absolute and relative product rankings (typically on a 5-star scale) on various social media platforms and owned channels
Increase in numbers of referrals and invites used by your customers
Net Promoter Score (ask your customers in a follow-up survey how likely they would be to recommend your brand to a friend or a family member, on a 10-point scale)
Measure What Is __, Not What Is __
Relevant, Available
