Social Media Analytics
Measuring What Counts: Social Media Analytics
Social media budgets are increasing; and social produces a wealth of data, but it’s not easy to gather that data, analyze the impact, and make business decisions. Marketers can track multitudes of engagement data, but at the end of the day, top management needs to see justification for time and budget. The problem is, where does social media fit into the purchase funnel? How does social media content influence prospects? How does it influence website and landing page conversions?
Think about a typical social media consumer: Sees a tweet on a solution; sees a video, reads a blog, sees a retargeting banner ad, uses a search engine, discusses the solution on LinkedIn, etc. That’s a lot of activity, and each social media channel has its own metrics. It’s crucial to understand how social media marketing is impacting your business . We monitor your progress over time to understand what is working and what is not. Ongoing reporting enables us to track your social media efforts to help you gauge Return on Investment (ROI). NuSpark Marketing can work with your firm to gather all of these interactions and statistics, put them into context, and prepare a custom results and recommendation presentation to your clients or management team.
Whether you’re a company, an agency, or a social media consultant, we offer our social media analytics management service to you. Please contact us to learn more.
Our social media analytics services are priced with flexibility in mind, as it depends on client need and budget, but in general our services cover:
We’ll review the most important website and landing page goals, give those goals values, and make sure they are implemented properly within Google Analytics or a similar analytics tool. Whether they be e-commerce purchase conversions or lead generation conversions, this step has to be done first.
Visibility or reach metrics cover how many of your social media networks or contacts are potentially exposed to your content. Each channel defines reach differently (one of the frustrations of social media analytics) so our goal is to make sense of the data and present you trends by channel. One of the most important reach measures is influential reach. Our reporting system will show who your most influential advocates are, how they share your own content, and how often they mention you.
Interesting content builds engagement; engagement builds reach; reach builds exposure; exposure builds website traffic. Where reach measures potential exposure, engagement measures interactions with your content. We will perform a deep dive into engagement metrics by each channel. Amplification, consumption, and other measures are important KPIs for content measurement. By gathering and analyzing this data, we’ll be able to report what channels work best; what content types work best; and best days/times to share your content.
Eventually prospects will reach your website or landing pages. We’ll be measuring website engagement and conversion metrics. For each channel, we’ll track how users engage with your website, and compare social media to other channels. We also measure multi-touch attribution, so we’ll be able to measure how social media activity affects conversions that are credited to other channels. Attribution tracking is growing, especially with the need to measure how social media affects overall website traffic and conversion rates.
ROI is the ultimate measure of media performance. Utilizing attribution modeling, we review conversion values with you, and apply values to a conversion via the purchase funnel. A first visit that leads to a conversion, a last visit that leads to a conversion, and a middle funnel visit all have unique values. Typically, the last visit interaction that leads to a conversion has the highest conversion value. By assigning values to site visits that assist conversions, we can give social media, as well as all digital channels, credit, and that means a contribution to ROI.
The myriad of reports and analysis we supply will lead to clear strategic optimization to your social media strategy; from content and channel tactics to engagement and distribution. By continuing to tweak your social media marketing, better engagement occurs, which can lead to increased website visits, conversions, and sales.
NuSpark Marketing Founder Paul Mosenson recently was a keynote speaker at a national conference and presented an overview of social metrics. Those slides can be downloaded here.
Tools We Use:
Certainly we look at platform specific tools like Facebook Insights and YouTube Insights, but we mostly use third party tools that provide more robust and relevant measures to make marketing and business decisions on. Of course we are specialists with Google Analytics as well, so that data is always included. Based on all of the data we obtain from multiple tools, we’ll create a custom dashboard based on the data you need.
There are many tools available that we can use; some paid and some free; each have their own merits. Here’s a video tour of the multitude of social media tools and dashboards.
Below are screen shots of the preferred tools we use for clients; two for Facebook, two for Twitter, two multi-channel, and Google Analytics. As an agency, we have special pricing with these tools, and manage our clients’ effectiveness with many of them.
Measure: Edgerank trends, best days/times to post, post-type analysis, post ratings
Measures: Fan Detail, Post Detail, Engagement Detail, Visibility Detail, Growth Metrics, Page Alerts, Post Tagging
Measures: Detailed metrics on items like impact, engagement, clout, influence, network activity, and velocity for individual Twitter accounts. Probably the most complete Twitter analytic tool
Measures: Get a clear overview and graph of your Twitter stats. Measure tweet, retweet, follower trends and more.
Measures: Analyzes Twitter, Facebook, YouTube, and Google+, with LinkedIn and Pinterest soon. Attractive charts built in excel.
Measures: Comprehensive tool that measures Facebook, Twitter, and YouTube, plus brand/keyword monitoring, and takes basic metrics to the next level for a more complete analytical picture of your social media activity.
Measures: Site engagement by social channel, contribution to conversion and e-commerce activity (attribution), Google+ metrics, visitor flow analysis, and more