jumpstart measurement guide

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Analytics for multiple objectives JumpStart Social Media Measurement Tools & Techniques Learning Objectives 1.) Become familiar with the top social media measurement and man- agement tools 2.) Learn about the key metrics associated with Facebook, Twitter & YouTube 3.) Use techniques and processes to measure social media campaigns 4.) Use a range of free and paid tools to monitor different aspects of social media activity strategy Key Takeaways 1.) Social media meas- urement must be linked to a desired business outcome. 2.) There are manage- ment and measurement tools for every budget. 3.) The major social me- dia platforms are all measured according to their own metrics. 4.) Social media activity has no intrinsic value unless it is benchmarked against other activity such as sales volume or brand sentiment. 5.) There is a wide range of tools that can be used to monitor and analyse social media activity. © Digital Chameleon +61 2 9997 4417 or [email protected] or visit www.digitalchameleon.net Measurement: Job #1 Social media without measurement is like taking a trip without a destination. What’s the point? What do we want to meas- ure? Social media can be used to measure more than just increased sales. Some business objectives might include: acquiring and re- taining customers, be con- sidered a trusted brand, retain and attract employ- ees, deliver a return on in- vestment or be considered an innovative market lead- er. Does your social media strategy tie in to any of the- se business objectives? Are you measuring how social media is helping to achieve them? When we consider the strate- gic element to social media, what should we keep in mind? First, measurement is job one. Measurement pro- vides the kind of accountabil- ity we require and the metrics should end up driving all our efforts. Second, social media metrics are important to the whole organisation, not just the marketing department. Make your measurement efforts as transparent as pos- sible. Finally, tie your metrics back to what the business is trying to achieve. Ultimately that means exposure or sales closed and not numbers of re -tweets or Facebook friends.

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Beginners Guide for Digital Chameleon's elearning module on social media measurment.

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Page 1: Jumpstart Measurement Guide

Analytics for multiple objectives

JumpStart Social Media

Measurement Tools & Techniques

Learning Objectives 1.) Become familiar with the top social media measurement and man-agement tools

2.) Learn about the key metrics associated with Facebook, Twitter & YouTube

3.) Use techniques and processes to measure social media campaigns

4.) Use a range of free and paid tools to monitor different aspects of social media activity strategy

Key Takeaways

1.) Social media meas-urement must be linked to a desired business outcome.

2.) There are manage-ment and measurement tools for every budget.

3.) The major social me-dia platforms are all measured according to their own metrics.

4.) Social media activity has no intrinsic value unless it is benchmarked against other activity such as sales volume or brand sentiment.

5.) There is a wide range of tools that can be used to monitor and analyse social media activity.

© Digital Chameleon +61 2 9997 4417 or [email protected] or visit www.digitalchameleon.net

Measurement: Job #1

Social media without measurement is like taking a trip without a destination. What’s the point?

What do we want to meas-ure? Social media can be used to measure more than just increased sales. Some business objectives might include: acquiring and re-taining customers, be con-sidered a trusted brand, retain and attract employ-ees, deliver a return on in-vestment or be considered an innovative market lead-er.

Does your social media strategy tie in to any of the-se business objectives? Are you measuring how social media is helping to achieve them?

When we consider the strate-gic element to social media, what should we keep in mind? First, measurement is job one. Measurement pro-vides the kind of accountabil-ity we require and the metrics should end up driving all our efforts. Second, social media metrics are important to the whole organisation, not just the marketing department. Make your measurement efforts as transparent as pos-sible. Finally, tie your metrics back to what the business is trying to achieve. Ultimately that means exposure or sales closed and not numbers of re-tweets or Facebook friends.

Page 2: Jumpstart Measurement Guide

You can spend as much or as little as your budget and situation require. There are tools that allow you to manage and measure your social media assets that range in price from free to tens of thousands. There are many different categories of tools, including manage-ment, measurement, brand management, free web and Twitter tools, social search and ag-gregator tools, subscription services and brand and CRM management tools. To make mat-ters even more confusing, many of these tools have capabilities that overlap. Matching your specific needs to your resources is key to de-termining what the best solution is for your brand.

Top tools for managing and measuring social media, for any budget

Page 2

Measurement Tools & Techniques

© Digital Chameleon +61 2 9997 4417 or [email protected] or visit www.digitalchameleon.net

Measuring the major platforms

Each of the major social media platforms have metrics that are special to them. In order to evaluate social media metrics effectively, you need to know how to speak Facebook, YouTube and Twitter!

Well designed Facebook brand pages are built to attract interactions that can be measured

Key Twitter metrics include: Followers, Referrals from tweets, Visits per period, Visits per follower and Re-tweeting rate

YouTube provides milestones for each video, as well as demographics

Page 3: Jumpstart Measurement Guide

© Digital Chameleon +61 2 9997 4417 or [email protected] or visit www.digitalchameleon.net

Page 3

Measurement Tools & Techniques

In this module’s virtual reality game, you are a Social Media Manager eval-uating a recent cam-paign using some handy tools. Did it make the needle move? All your col-leagues want to know and you are the go-to person! Remember: all submissions are en-tered into the draw for a prize!

Play the Measurement game!

JumpStart Strategy module includes: Tools to measure and manage mini-quiz Measurement techniques mini-quiz Strategy Game Resource Bank Glossary

With so many metrics to track, measurement can often seem overwhelming. The best place to start is linking measurement back to objec-tive, then benchmark over time. For example, a sales promotion broadcast via social media can be tracked. The response to the social media messaging can be linked to con-sumer activity that is generated by the mes-sage. This activity can include sales, a change in brand sentiment or a change in other social media metrics, such as friending/rating/responding/etc. Over a period of time, it is pos-sible to correlate all these metrics with actual results. As the chart to the right illustrates, all the activity can be reduced to trends, which can tell an easily comprehensible story, given enough time.

Simplifying measurement

This module’s Ning Learning Missions include:

• Sentiment check

• Competitive check

• Online revenue goals

• Social Platform Launches (Tip Gloria, Social Media Strategist)

• Nielsen & Social Media

(Matt Bruce, Managing Director/Nielsen)

Guest expert topics in this module

Page 4: Jumpstart Measurement Guide

© Digital Chameleon +61 2 9997 4417 or [email protected] or visit www.digitalchameleon.net

Page 4

Measurement Tools & Techniques

Term Definition

Amplification The extension of an ad campaign through social media and the degree to which campaign messages propagate through social networks.

Association Degree to which a particular brand is associated with the general product category in the mind of the consumer (share of mind).

Data-latency The speed at which conversations are collected by a tool is limited by the frequency of their web-crawlers and the length of time it takes the tool to process the data. This could make alert functions less useful.

Engagement The level of involvement, interaction, intimacy and/or influence a consumer has for or with a brand or social platform over time.

ORM Online reputation management (or monitoring) is the practice of monitoring the Internet reputation of a person, brand or business, with the goal of suppressing negative mentions entirely, or pushing them lower on search engine results pages to decrease their visibility.

Relevance Reach represents the degree of marketing penetration within a given target audience. That degree of penetration (expressed either as a number of individuals or as a percent-age of individuals) is equal to the degree of exposure the target audience has had to an intended marketing message.

Sentiment Analysis Can also be used to determine if the "sentiment" of the page is positive or negative

SERM Search Engine Reputation Management (or SERM) tactics are often employed by compa-nies and increasingly by individuals who seek to proactively shield their brands or reputa-tions from damaging content brought to light through search engine queries.

Share A "share of voice" is a brand's or group of brands' advertising weight or buzz expressed as a percentage of a defined total market or market segment in a given time period. The weight is usually defined in terms of expenditure, ratings, pages, poster sites, buzz etc.

Social Measurement The tools and benchmarks required to determine success in the various forms of social media marketing.

Social Targeting Uses data to find those obsessive social networkers who influence the "social graph."

Third-party panel-based analytics Providers such as comScore and Nielsen can tell you who actually looks at a site. Howev-er, some publishers contend that they are often undercounted due to the complexity of the web and the difficulty of getting reliable metrics for smaller sites.

Time Spent The amount of elapsed time from the invitation of a visit to the last user activity associat-ed with that visit.

Velocity The rate at which social media tools/apps are dispersed through a social media ecosys-tem.