Measuring Social Media: Rationale Behind the Analytics
While social media help build our media base, measuring results of your social media project hold analytics that you simply cannot ignore and matters most as part of your every successful marketing strategy.
What is the ROI of social media?
In reality, measuring social media can be subjective and most are measured according to the goals set by your organization as there are several factors that may need to be considered such as time, money and resources you have integrated on your campaign. As with most measurement elements, a definition of social media ROI is subjective to the goals your organization has set. And since the definition is broad and subjective, we can generally define the ROI of social media as the measure of efficiency of your social media marketing campaign.
How do you measure social media ROI?
Social media measurement can be actively monitored for information using tracking methods of social media channels like blogs, including micro-blogs and wikis, forums, message boards and other social media engines and communities. And to help you better understand how social media is important to organizations. Below are 5 of the most popular goals why measuring social media is crucial to the organization.
- Measuring awareness. In order to measure awareness and how your information are spreading, you need metrics like reach, volume, exposure, and amplification.
- Measuring engagements. Engagements can be measured through the metrics on outcome of retweets, replies, comments and by the number of participants. You need to basically find out the outcome to the following basic queries:
- How many people are participating?
- How often are they indulged in participating?
- What forms are they filling and submitting?
- Driving traffic. Measuring traffic can be done by tracking URL shares, monitoring conversions and clicks in order to satisfy your query on whether there are traffic movements through the social media going to your organization’s external website and how they move around your site.
- Monitoring followers. By tracking contributors and influence, you can find out metrics of your followers. With such, you can likewise find out who your participants are and how much impact or influences do they have to the organization.
- Audience share. Using social media metrics, you can information on how to measure or pulse the voice of your brand.
The role of internet technology in measuring social media.
Different internet technology can be beneficial to the organizations. Many find it very useful to successfully engage their audience and draw traffic to their websites was through the use and facilities of the so-called social media management software or SMMS. An SMMS is an application program that can facilitate your organization’s capacity to efficiently engage social media on different communication channels. It is used to monitor inbound and outbound engagements, customer support, and interaction. It can also manage and document social marketing campaigns and assess the usefulness of your social media presence to your audience. In fact, enterprises are adapting their businesses and enhancing their systems and processes with technology based application built according to their needs. Other technological monitoring applications like large-scale spiders and crawler technology in order to find keyword related references, data curation and result or semantics analysis are being undertaken to boost efficiency in extracting and using social media metrics.
To get the most benefits involving social media measurement, below are several ways your company can effectively measure the metrics of social media.
4 Techniques to Effectively Measure Social Media
- You must analyze the entire experience of your customers on social media. Do not rely by just observing not just their ‘last-click’ activity but instead analyze and examine the entire social media journey of your customers.
- You need to turn your own site into a social hub to be able to provide the best solid and accurate measurement. If results are accurate, a high-conversion environment can turn into a form of strategy to drive traffic to your website that will funnel the benefits of your online marketing efforts.
- You must be able to set conversion goals and align value to them. A typical example is measuring lead generated that fails to include new sign-ups to highly converted newsletter and white paper downloads. Who knows, what you have neglected might carry a high converting outcome.
- Do not overlook the social interaction taking place in your website. Social interactions on your site must be observed and measured too. It is significant to measure social actions to highly monitor indicators on the share ability interactions of your website contents. Monitoring social engagement will lead you to analyze web and social metrics that can create useful segments to better understand visitors’ behavior and social media channels.