Measuring Social Media Simply
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This document discusses best practices for measuring social media performance. It recommends creating a SMART measurement plan and tracking key metrics like followers, engagement rates, views and shares across major social media platforms. Both quantitative and qualitative data should be analyzed from tools like Facebook Insights, YouTube Analytics and Twitter counters. Results should be reported regularly using charts, memos and presentations to determine if social media is achieving business goals.
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Measuring Social Media Simply
- 1. Measuring Up: A Practical Approach to Social Media Measurement Mary Fletcher Jones www.FletcherPrince.com Mary@FletcherPrince.com 11/27/2012 GV Expo 1
- 2. About this presentation 11/27/2012 GV Expo 2
- 3. Why do we need to measure social media? 11/27/2012 GV Expo 3
- 4. The challenge of social media measurement • 88% of marketing pros say they can’t accurately measure social media • 57% of businesses say measuring ROI is their top social media marketing challenge Social media ROI* = SM return – SM investment x 100 SM investment *Wikipedia, “Social Media Measurement” 11/27/2012 GV Expo 4
- 5. So what about “engagement?” #1 measure of brand effectiveness on social media used by business is FANS Top Measurements Used for Social Media 96% Total number of fans 89% Traffic to website 84% Social mentions across platforms 66% Share of social conversations 11/27/2012 GV Expo 5
- 6. What are we hoping to learn? 1. Are we doing this right? 2. Is social media getting us the results we want? 11/27/2012 GV Expo 6
- 7. 2 Kinds of Data Quantitative • Views • Followers • Retweets Qualitative • Comments • @mentions 11/27/2012 GV Expo 7
- 8. Create a measurement plan SMART • Specific • Measurable • Attainable • Realistic • Timely 11/27/2012 GV Expo 8
- 9. Business results to have on hand 1. # of inquiries 2. # new projects 3. # new clients 4. Revenues for the month $ 11/27/2012 GV Expo 9
- 10. Social Media Platforms • Facebook Pages • YouTube • Blogs • Twitter • Pinterest 11/27/2012 GV Expo 10
- 11. 3rd Party Measurement Tools • Hootsuite • Google Analytics • Klout • Hubspot tools • Wildfire Social Media Monitor 11/27/2012 GV Expo 11
- 12. Measurement Tool: Editorial Calendar/Results Report 11/27/2012 GV Expo 12
- 13. How to measure with Facebook Insights 11/27/2012 GV Expo 13
- 14. Free to download from Administrator dashboard 11/27/2012 GV Expo 14
- 15. What to measure on Facebook What you did: 1. # posts for the month? 2. Did you use advertising? Results: 1. # views? 2. #shares? 3. #Likes 4. #Comments 5. #Fans (+/-) 11/27/2012 GV Expo 15
- 16. Facebook Page Engagement Rate Formula The engagement rate* of a post = # of likes + # of comments + # of shares x 100 Total # of fans *Wikipedia, Social Media Measurement 11/27/2012 GV Expo 16
- 17. How to measure with YouTube Analytics 11/27/2012 GV Expo 17
- 18. What to measure on YouTube What you did: 1. # of videos uploaded 2. # of video responses posted, shares, embeds, playlists Results: 1. Views 2. Shares 3. Comments 4. Likes/Dislikes 5. Subscribers (+/-) 11/27/2012 GV Expo 18
- 19. How to measure with WordPress stats 11/27/2012 GV Expo 19
- 20. What to measure on your blog What you did: # of new posts Results: 1. # views 2. # shares 3. # comments 4. # subscribers (+/-) 11/27/2012 GV Expo 20
- 21. How to measure Twitter • Twitter – Free profile checker; basic stats • Twoolr – Performance, best times to tweet, ratio of broadcast to engaging tweets • ManageFlitter – Housekeeping for follows and unfollows; basic analytics • TwitCleaner – How to operate a quality Twitter account & avoid pitfalls 11/27/2012 GV Expo 21
- 22. Twitter Counter 11/27/2012 GV Expo 22
- 23. Twitter Counter – Profile Checker 11/27/2012 GV Expo 23
- 24. Twit Cleaner doesn’t pull any punches! 11/27/2012 GV Expo 24
- 25. What to measure on Twitter What you did: 1. # broadcast tweets 2. # retweets 3. #@mentions Results: 1. # retweets 2. # @mentions 3. # Followers (+/-) 11/27/2012 GV Expo 25
- 26. Engagement rate formula for a Tweet The engagement rate* of a Tweet = # of @ replies + # of retweetsx 100 # of followers *Wikipedia “Social Media Measurement” 11/27/2012 GV Expo 26
- 27. How to measure Pinterest • Use Pinpuff to determine your influence rate, similar to Klout, and get quick stats 11/27/2012 GV Expo 27
- 28. What to measure on Pinterest What you did: # of pins # of boards Results: 1. # of likes 2. # of repins 3. # of followers (+/-) 11/27/2012 GV Expo 28
- 29. Presenting your results • Monthly reports • Year end reports – Memos and reports – Powerpoint presentations – Charts and visuals – Annual reports 11/27/2012 GV Expo 29
- 30. Thanks!! Contact me about • Speaking engagements • PR & marketing projects • Social media coaching and training Mary Fletcher Jones (571) 269-7559 Mary@FletcherPrince.com 11/27/2012 GV Expo 30
Editor's Notes
- Hello I’m Mary Fletcher Jones with Fletcher Prince. I am filling in for Paul Vogelzang who had a family emergency. I’m looking forward to talking to you about social media measurement today, although my approach and some of my points will be different from Paul’s. Today, I’ll be talking about a simple and actionable way to measure social media and present the results. By the way, this presentation and yesterday’s presentation are on Slideshare, with my speaking notes, so feel free to download them if you prefer. Also if I speak too fast, or you need me to clarify something, feel free to let me know.So, I have worked in social media for pay for about the past 6 years and in PR and marketing since 1988. My clients come to me to help them set up or revise their branded social media channels and profiles, produce YouTube video, set up websites and blogs, create marketing collateral, like logos, brochures, etc. For the purpose of this presentation today, I’m going to work under the following assumptions:You are not currently measuring your resultsYou want an easy-to-use systemYou need something you can customize for your own needsYou need measurement to be cost-effectiveMy approach is simple and I like to think: easy. It’s better to do a simple thing well and consistently rather than take on too much and not complete the work at all.Your level of sophistication with measurement may be quite a bit higher. If so, you’ll probably benefit from the resources I’ve listed on the handouts today. When you get to a higher level of sophistication, you can start measuring things like share of conversation, and so forth.
- I promise this is the first and last LOL cat you will see in this presentation In this presentation, I will be presenting some general information about measurement and planning, and then look at some of the more popular platforms individually, including Facebook, Twitter, and YouTube.As we move through this presentation, I will be asking you for feedback. I learn as much if not more from you, as you may learn from me, and keeping it interactive makes this presentation a LOT more interesting for me, and a LOT more relevant for you.This is a lengthy time slot and I anticipate even with your participation, we’re going to have some time left over. So, we can take a break and you are welcome to cut out early, or we can regroup and have a jam session about social media and talk about whatever you like. Which I think would be a lot of fun!
- But for now, let’s get to the REALLY thorny topic of social media measurement. Let’s talk about why you might want to measure social media.You know, some people don’t measure what their company or organization does on social media. So there are a number of reasons why you may be motivated to measure. I’m going to list some and then you can chime in with ones I haven’t thought of.The one most people think of is ROI. Is the investment of your time and resources paying off?Other reasonsDocument your success (e.g., engagement). You know it’s working and you need to prove it.You need to see what’s broken so you can fix it, or redistribute efforts and resources. I think this is the best reasonYou want to see your results over time. Maybe your numbers or low, but that percentage increase from month to month may look really impressive, and that’s something to crow about, and build on.You have to justify the use of resources to stakeholders or clients.
- You know 41% of companies surveyed had no idea if the money they were investing in social media was paying off in anyway whatsoever. If you making ANY attempt at measuring the ROI of your social media, you are so far ahead of the game it is not even funny.The basic formula for ROI is sales – cost, divided by cost. Then you multiply by 100. So if you had 125,000 in sales and cost you25,000 to get those sales, your ROI would be 400% or for every dollar you spend you make $4.This formula is for a social media marketing campaign and it’s from Wikipedia. For example, you might look at a set period of time. Say you invested $25,000 in social media over a period of six months, and you had a $125,000 increase in sales during the same period.
- The state of social media marketing 2012, report by the company Awareness78% of marketers will tell you engagement is their real goal but when it comes to actually measuring progress in social media, what they use is number of fans.It’s what people understand.
- Quality – Branding, design, frequency, value, information?Performance – What kinds of measurable results are we getting? Clicks, subscribes, followers, views, etc.Engagement – Are people talking about us, sharing, commenting, tweeting?Increased awareness? Views, demographicsIncreased sales/donations?Market share? How do we stack up against the competition?
- Objective: hard facts, like volume, viewsThings you can countSubjective: open to interpretation, like sentimentComments and feedback
- Set measurement goals you can achieve.Decide how often you will collect and report information.Collect benchmark and competitive data.Collect business information (sales figures, customers, etc.)Use what you learn to set new, measurable goals.Need a checklist? Check out K.D. Paine’s Social Media Measurement Checklist – not this simple but it may include elements that work for you.
- ROI: Can you associate any returns with your investment in social media?How would you go about tying those results?Ask for ideas and feedback.
- Blog: Works with all other social media; highly searchable; establishes subject matter expertiseTwitter: Quick updates; links; timely announcementsLinkedIn: First thing Google lists under your name; testimonials; NVAR & other professional affiliations; business connectionsFacebook: client relationships; promote events; publish links, video, and photosYouTube: use as a portal for information; 25% of all search; subject matter expertise videos; consumer reachFlickr: build trust and recognition with photos; home listings
- Hootsuite:I like it for broadcasting.Only really provides clickthroughs when you use their Owly extension.Google Analytics – haven’t really used it that much. I can send you an article on it. Klout. I don’t think it’s all that accurate and the perks turn me off but you might as well check it out.Hubspot tools like Twitter grader, etc. use their pool of users to compare your efforts against theirs. Statisicianscritcize it because the sample is skewed to early adopters.Wildfire Social Media Monitor. It’s paid, but the free option allows you to compare 3 accounts. But it’s just follower counts.
- So if you look in your folder or if you have a handout, I have given you this simple editorial calendar that has places to record basic analytics, but for December.I’m going to refer to this tool often so you might want to keep it handy, and I expect if you use it, that you’ll customize it to meet your own needs.It’s a really simple one, but you could use a spreadsheet, or Google sharing tool, or something more sophisticated, if that works for your dept. or team.Now I’m going to discuss the individual platforms and talk about the ones that have built in analytics versus the ones where you have to use a third party application to get data to measure.I would love to hear feedback after each one so I can hear how you may be measuring your results on that particular platform.We’re going to start with the most popular social media platform, Facebook.
- What can we learn on Facebook insights? Demographics (age, gender) and location (city, country) for both “Reach” and “Likes”Facebook PagesNow you may be wondering what is average performance on Facebook. After all you have to set some kind of benchmark for achievement when you are first starting out. Finding this kind of data can be kind of tricky. I will try and provide it where I can for each platform. And if you’re wondering where I got these figures, I have provided those articles and reports on the handout. But you know, none of this is gospel.What I will also advise is that, in addition to the numbers you learn in research about your industry, you also look at ten to 20 of your competitors on each of these platforms and then see how they are doing. Take some averages. Look at who is doing very well, and not so well, and make some conclusions as to why. Try to get a feel for what is typical performance, and set your goals against that. That’s going to be an even more meaningful basis of comparison for your efforts.What we know about Facebook Pages…1/3 of pages have fewer than 32 fans. Half have fewer than 256 fans. Aim for at least 100. Nonprofit Pages have more fans: 8,317 fans on Facebook. Humanitarian nonprofits get the strongestFortune 100 companies: 152,456 followersDaily interaction rates can be low as ½ percent, with 20% or fewer of your fans seeing your content at all.
- For more in-depth insights help, download the 15 page manual from Facebook: Facebook Page Insights Product Guide for Facebook Page Owners
- So you keep these monthly tallies, and then record the comments and feedback you get as qualitative responses. You would also record if you know for certain that you got sales leads or donations from posting Facebook content.
- So for example, I post on my Fletcher Prince page, and I get 3 likes and 1 comment and no shares. I have 142 fans. So my engagement rate for that post is 2.8%That seems pretty lame but you have to understand (explain the ½ % engagement figure) and about Edge Rank (explain Edge Rank).Also small numbers are small numbers. But the race is not always to the swiftest. Don’t get too hung up on comparing your Page to others. What you want to see is a steady trajectory up. So what if you have less than 100 Likes on Facebook. Are you keeping your followers informed? Do you think they get something out of your Page? Tell the Washington Business Journal Story about Book of Lists.Talk about how you do an Annual Report each year.So can anyone share with me how they might be measuring their results on Facebook?(Take comments)Next we are going to cover YouTube.
- This is an overview page, but YouTube gives you rich analytics for your Channel’s performance, or each individual video. You can easily learn, for example, what kinds of keywords and search terms brought visitors to your video, or if you got a certain amount of views on the video embedded on your blog vs. the number of views on the YouTube watch page.You can also learn, in addition to number of views, who watched it where (age, gender location) and how long they watched a video. You can also find out how they watched it: on a PC, tablet, or smartphone, for example.
- Sohere are your monthly tallies. You would also want to note the content of comments on videos, on your channel, and in messages (disregarding SPAM)., to add the qualitative data aspect to your reporting.Let’s look at the benchmark data I could find. It’s pretty sparse!YouTubeOn average, half of YouTube videos get 100 views their first month onlineAverage # of views for Fortune 100 company: 2 millionAverage # of subscribers for Fortune 100 company: 1669Again this is where you want to look at what your competitors are doing to get a meaningful basis of comparison (share PR video story and FP’s rank in views, etc.).Now I’d like to ask if anyone else is trying to measure their success on YouTube? (Take comments)Okay, let’s move to blogs, more specifically WordPress (but you could use this approach for any blog)
- Wordpress stats are just one reason why I love Wordpress as a blogging platform. So you can learn not only how many views and subscribes you got, and from where, but what search terms brought them to your blog. You would also want to make note of the comments.
- What is typical success for blogs? Hard to say. You can’t exactly look at your competitor’s blogs and see how many views they have, the way you can with YouTube, for example.Average: 100 views per day (ProBlogger)385 views per month for a small biz website (5 employees or less)The best I can tell you is that you might want to set a goal of getting 100 views a dayDoes anyone have any blog measurement strategies they would like to share?(Take comments)Let’s move on to Twitter.
- If you were in my presentation yesterday, you know how I feel about Twitter. I think it could be classified as a love hate relationship.But Twitter is REALLY fun to measure. There is a lot of things about Twitter that are fun but I don’t know that they are all that meaningful. Not like blogs and video!So what do we know about TwitterTwitterAverage account has 126 followersAverage Fortune 100 corporate account: 14,079 followersNonprofit accounts average 3,290 Twitter followersThere are a lot of third party tools to try with Twitter. They’re great. And good thing because Twitter is just now offering Analytics, and only if you are an advertising client. I am an advertising client but I have not bothered to check out their analytics yet. So I use these tools for now, when I want to measure my Twitter account’s performance.I also use Manage Flitter and Twit Cleaner. TwitCleaner helps me keep a quality and engaging account
- This is a 6 month chart and I am comparing my rates of increase of followers with the rate of number of people I followed
- So this gives you an overall score and also gives you recommendations on how to improve in the areas of followers, tweets, profile set up, etc.
- This is what will get you a Twit Cleaner traffic ticket:No more than 24 tweets a day, space them an hour apart, keep RTs to less than 70% of your total volume; keep your follow/follower ratio even, interact with followers; tweet at least weekly; forego app spam, like paper.li weeklies; don’t repeat identical tweets; don’t just post links from your blog
- So here is the kind of date you might collect on Twitter, and then you would feed that into your spreadsheet or table or whatever record-keeping tool you have selected. Then you can, if you like, add the qualitative piece that talks about the tone and content of your comments, for example. Stuff you can’t necessarily chart on a line graph.
- So, for example, I tweeted a blog post about December calendar events yesterday. I got 2 retweets and 3 replies. I have 580 followers on that account. So I got an engagement rate of 8-1/2% on that tweet.Now let’s hear from you. What are you doing to measure your results on Twitter?(Take comments)Let’s move on to Pinterest.
- So Pinterest at this time does not offer analytics, not even for business accounts. I used to recommend Pinreach but it’s down. So I’m using Pinpuff. I was stunned to see that my content had been repinned more than 35,000 times.PinterestAverage following: 20Average followers: 229Average number of boards: 3Average number of pins: 171
- So Pinterest, not rocket science here. Let’s talk now about how to present your wonderful results to your boss … or client.
- Being accountable on a regular schedule – and the value of thatTalk about the annual report thingAsk people what they do in the way of reporting and what has been particularly effective or impressive
- Okay, I lied, I snuck in another LOL cat. When you weren’t looking.So, I’ve told you all I personally know about measurement. But I don’t live and breathe measurement so we can talk about that or….other social media related topics or questions. Or you can duck out and get some coffee. Let’s take a break and I will be here in this room until 11:45 a.m. if you want to discuss anything.Thanks, again!