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Posts Tagged ‘Social Media Monitoring’

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.

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