Analytics for Social Media (from SMX East)

The following is a recap from a session at Search Marketing Expo (SMX) East. Follow the conference and this session on Twitter.

Social Media Analytics with Jack Bauer

Preparation is key. Start with a social media checklist.

Part 1: Discovery

Identify your business objectives

  • Increase brand awareness
  • Increase brand trust
  • Increase interaction with customers
  • Increase brand loyalty
  • Sell more [your service/product]
  • Better understanding of user behavoir

What characteristics do you want associated with your brand?

  • Great customer service
  • Convenience
  • Low prices
  • Refreshing

How much time and resources are you willing to invest?

A few stats

  • 67% of Twitter users who follow a brand, are more like to buy that brand’s products
  • 60% of Facebook users who like a brand are more likely to recommend a brand to a friend
  • 74% of consumers are influence on buying decisions by fellow socializers

Part 2: Understanding your Audience

Listening – your parents were onto something

  • How are your customers using social media
  • Where are they participating?
  • Are they currently interacting with companies via social media?
  • What are they already saying about you?
  • What is their activity level on each social network?

Part 3: Defining KPIs

  • Define KPIs specific to each business objective
  • Cool social media marketing analytics
  • Use KPIs to measure, like:
    • Share of voice – Brand mentions/total mentions
    • Audience engagement – Comments + Shares + Trackbacks/Total Views
    • Conversation reach – Total people participating/Total audience views

Examples of Actionable KPIs

  • Number of people in a specific location who follow us on Twitter
  • Reduction in support costs
  • Number of product improvement suggestions from Facebook fans
  • Increase in product reviews & ratings
  • Reduction in sales cycles

Other KPIs to consider

  • Volume of consumer-created buzz
  • Seasonality of buzz
  • Rate of virality
  • Embeds/installs
  • Increases in searches
  • Rankings improvemnts
  • Demographics
  • Interaction/engagement rates
  • Number of interactions
  • Store locator views
  • Registrations by channel

KPI Evolution

  • The key to successful social media measurement is asking questions

Part 4: Tools for Insight

  • Scout Labs
  • Radian 6

Configuration Tips

Setup separate searches for:

  • Brand mentions
  • Product mentions
  • Events
  • Promotions
  • Competitors
  • Product launches

Taylor Pratt, Raven Internet Marketing Tools

Social Media Metrics

Content-oriented social media

Consumption = branding and organic social media presence

Benefits

  • Traffic
    • Unique visits/page visits
    • CPM revenue
  • Visibility
    • Branding/buzz
    • Links
      • Long tail traffic
      • Search rankings (leads/sales)
  • Stickiness
    • Newsletter/RSS subscribers
    • Return visitors

Quantitative Metrics (KPIs)

  • Engagement
    • Comments (Not including spam, but do include negative comments)
    • Social votes/bookmarks
  • Consumption – traffic count
  • Micro-conversions
    • Subscribers
    • Fans/followers
  • Virality
    • Social shares/mentions
    • Links

Granular Metrics: Links

  • Volume of links for a number of pieces of content
  • Amount of links based on number of visits
  • Shift in link count over time
  • Competitive link growth
  • Links by category/topic
  • Links by social channel

Micro-conversions/Engagement

  • Bookmarks
  • Downloads
  • Favorites
  • Feedback
  • Forward to a friend
  • Groups
  • Install widget
  • Invite/refer
  • Uploads
  • Wishlists

URL shorteners

  • bit.ly
  • Google URL shortener (Goo.gl)

Comment engagement

  • Bring social comments into your blog with Disqus
  • Conversion rate = # visitor comments/# pieces of content
  • Compare to regular content vs. promoted content

Google Analytics

Google URL Builder

  • Create trackable link (Google URL builder)
    • Campaign name
    • Promotion start date
    • Delivery method
    • Medium
    • Format
  • Shorten your trackable link
  • Add your shortened trackable link
  • Track your URL in Google Analytics

Advanced Segments

  • Segment social visits from regular visits through Advanced Segments
  • Tie Advanced Segments to Goals

Other GA social analytics sources

  • Content > Content by title > Entrance Source
  • Click Map (content overlay)
  • Infographic tracking through GA
  • Google Social Analytics – GreaseMonkey for Firefox/Chrome
  • Google Analytics for Facebook pages – FBML markup

Social Sharing Measurement

Data Use

  • Start with a baseline measurement
  • Then do monthly audits

Takeaways

  • Social media metrics vary with strategies, goals, sites, etc.
  • Track anything possible for insight
  • Social media is not just about numbers
  • Measuring social media does not = ROI for social media

Jordan KastelerBlueGlass Interactive Inc.

2 Responses to “Analytics for Social Media (from SMX East)”

  1. Aaron

    Hey thanks for the great post! It’s hard to keep up with such a fast changing topic, but I give all my credit to you (and blog posts like yours) and The Fan Page Factory (http://www.facebook.com/thefanpagefactory i think?). You guys keep me on my toes with your up to date, helpful and innovative info! Thanks again! Enjoy.