DIM Analytics: Social media Digital (Interactive) Marketing (Lecture 6.2) Dr Elvira Bolat C113, Christchurch House, Talbot campus ebolat@bournemouth.ac.uk @dimbsbu
https://dimbsbu.wordpress.com
Learning Outcomes • To explore key digital metrics related to measuring a social media effectiveness – a social media marketing metrics matrix • To understand SMROI • To overview native analytics (channel-specific metrics e.g. Facebook, Twitter, LinkedIn)
We love counting
• 90% of marketers say social media is important to their businesses; • 68% analyze their social media activities; • Only 41% are able to measure their social activities.
http://www.socialmediaexaminer.com/wp-content/uploads/2016/05/SocialMediaMarketingIndustryReport2016.pdf
Case Study 1
Case Study 2
SM metrics mostly used • • • • • • • •
Hits/view Followers Replies/comments/likes Organic buzz….. ….. ……. Conversion rates Acquisition costs
But it should be more than that Brand loyalty
Brand likeability Brand awareness
Objectives determine Tactics Tactics determine Metrics (sMart) Metrics determine the analytics (tools)
• Motivating • Influencing
Example
BlendTech – social publishing
You can’t manage what you can’t measure (Peter Drucker 1960s)
Strategic options for SM measurement
Metrics
A SM metrics framework Activity
Number, frequency, and recency of: Blog posts, updates, photo posts, video posts, comments/reply comments
Creative messaging and positioning strategy, resonance/fit of campaign appeal, social media involvement
Interaction
Number, frequency, and recency of: Registrations, likes, ratings, comments/mentions/tags/posts, links, views, impressions, UGC, share, fan/follower
Sentiment, engagement, influence effects, recommendations, buzz/virality
Performance
Number, frequency, and recency of: Costs, lead conversation rate, earned media values, share of voice, ROI
Attitude toward the brand, brand loyalty, customer satisfaction, service quality perceptions
SMROI
+ • ROI 1 • ROI 2 • ROI 3 • ROEM
Channel-specific metrics
• • • • • •
Number of tweets/day Number of RTs/day Number of mentions/day Number of replies/day Numbers of clickthroughs/day Ration of followers/following
To use tools – you need to have an authorized account!
Sumall.com
REACH
twiangulate.com
REACH
SENTIMENT
SENTIMENT
SENTIMENT
Foller.me
SENTIMENT
INFLUENCE
INFLUENCE
• • • • • • • • •
Volume of updates/day Number of likes/day Number of comments/day Sentiment of comments Numbers of clickthroughs/day Reach Shares People talking about this Ration of likes/shares/comments
• • • • • • •
Number of uploads/day Number of views/upload Number of comments/upload Number of dislikes-likes/upload Number of subscribers Number of shares Number of favourites
Let’s stop here now! What are the metrics that truly matter?
• Volume? • Time? • Engagement?
• • • • • •
Number of connections Number of recommendations Number of groups Views Search results Endorsement scores
• • • • •
Number of likes Number of followers Number of shares Number of comments Sentiment of comments
Tip for the Exam • Review Chapter 10 (Tuten and Solomon 2014/15) • Focus on social media metrics framework! • Look through different channels (i.e. Facebook, LinkedIn, Twitter etc.) and categorise metrics available for each channel (activity, interaction, or performance). Pay attention to what metrics are considered to be quantitative and what – qualitative!