Posts Tagged ‘Radian6’

Social Media Monitoring and Measurement

April 5, 2010 5 comments

Last week we had a guest speaker for our statistics class. Katie Morse, a community manager from Radian6 came to class to talk about social media measurement. Since we are going to discuss about this subject next class, I wanted to share with you some of her thoughts. 

One of the main focuses of Radian6 is to monitor, analyze and track customers’ conversations.

First, she stressed the importance of comparing which types of social media are the best traffic sources for your product/service. It does not matter how many followers you have on Twitter or how many fans you have on Facebook what matters is how engaged those customers are with your brand.

Second, she gave some metrics: 

Awareness metrics:

  • Potential reach (followers)
  • Mentions/ time period
  • Inbound links
  • Share of conversation
  • Subscribers to content
  • Referral ratio and recommendation ratio
  • Brand recognition (benchmarking before and after implementing social media)
  • Brand-specific searches
  • Sentiment trends
  • Content resonance

Content metrics:

  • Views
  • Comments/Feedback
  • Clicks/Downloads
  • Length of visits
  • Registration/Subscriptions
  • Shares
  • Inbound links
  • Conversations

Engagement metrics:

  • Comments
  • Thread size
  • Time with content
  • Content downloads
  • Subscriptions
  • Content sharing
  • Suggestions/ Feedback
  • Recommendations

Sales metrics

  • Lead volume
  • Cost per lead
  • Lead value
  • Conversion rate
  • Referrals
  • Retention rate
  • Average transaction (account) value
  • Sales value per fan/follower

I believe that as marketers we have to acknowledge the fact that the Web 2.0 gives us a full range of tools we can use to spread the message. Just like e-mail can help you achieve your company’s goals Facebook can do that too. It is important to develop the right metrics to evaluate your marketing campaigns and to better allocate marketing budgets.

Radian6 is a service which provides companies with a platform to listen, measure and engage with its customers across the entire social web.


Tools for listening

February 1, 2010 Leave a comment

According to a study by a public relations firm, more than half of the Fortune 100 companies are paying full attention to what their audiences are saying on social sites. Among those companies are Comcast, Dell, Microsoft, General Motors, Honda, Toyota, Wells Fargo, UPS, Whole Foods and Starbucks.

There are several tools that companies can utilize to monitor and listen to consumers. As Nick Nicholls posted on his blog Your Web Best Practices, there are several tools for listening and monitoring the online chatter about a company’s brand. Plus, he divides the ones that are free from the paid ones. Among the free applications are: Google Alerts, Technorati, Jodange, Trendrr, etc. On the other hand, some of the paid applications are:  TruCast, Radian6, BuzzDing, etc.

As an example of a company that utilizes one of these tools Cirque du Soleil is using Radian6 to listen and monitor its audiences to create brand ambassadors. Radian6 helps companies listen to what people are saying about their brands online and engage in those conversations across social media. With this tool, Cirque du Soleil is using the information collected about their audiences through listening to create excitement for future shows. Cirque is also using Radian6 to track the buzz around promotions. Moreover, Cirque is using this tool to learn the role their brand ambassadors play in spreading the word and identify new fans.

We can conclude that there are several tools for listening to consumers and companies have to evaluate which one they should use depending on their goals and resources to create strategies and build communities.