You know Social Media Analytics are important – yet 81% of executives surveyed don’t feel their company is using social to its full potential. Which metrics matter most as you strive to change that statistic?
We talked about 11 social media metrics worth mastering in a recent Adweek webinar. Here are some highlights surrounding each:
Mentions aren’t everything – they’re certainly not enough on their own – BUT… Mentions are a measure of brand awareness. You want to look at the channels where conversations are happening, so you can meet your audience where they are. You also want to see how things compare across Owned, Earned and Partnered channels.
Conversations are the name of the game here. It’s not about what you put out there – it’s about how social consumers interact with you and each other. Where is the greatest volume of conversation happening? What topics are being discussed? What’s trending? Who are the influencers? These are all aspects of Engagement you can measure – but you need a bit of help from our next metric to really get down to what’s driving the conversation.
The context of your Engagement is based on Sentiment – both the good and bad of it all, and the strength of emotions on both ends of the spectrum. Sentiment insights deliver specifics you can use to make brand decisions based on consumer wants and needs versus brand assumptions.
4. Brand Passion
The strength of emotion mentioned above is combined with Sentiment to give us Brand Passion. Measuring this presents opportunities to cultivate brand loyalty by responding to consumers’ deepest desires. Watch the full webinar for examples of brands using Brand Passion in this way.
Remember negativity can be passionate as well. Here’s a look at Brand Passion for some of the major airlines. Of note: Size isn’t relative to love. Virgin Airlines has the most passionately positive audience, even if they don’t have the largest conversation volume overall.
As you uncover negative sentiment, it’s important to understand what is driving detractors – and to spot them early. Only then can you keep negativity from going viral. But when you understand how your audience and influencers see you, you’ll know how to respond. Wendy’s has a lot of fun, even with social trolls. Not every brand can get away with that, but it works for them.
On the positive side of Brand Passion are Influencers. These outspoken fans can help you when detractors are vocal, as well as represent your brand in a more human way than you may be able to as an entity. That goes a long way toward generating love from your audience. And you don’t need celebrities necessarily. Watch the webinar to learn which brand is succeeding with an army of micro-influencers.
7. Relative Engagement
Relative Engagement is the metric that tells you how much Engagement you’re getting per post. This helps you measure the value of celebrity influencer spend – for example – versus organic micro-influencers. You might not think a dog could generate greater Relative Engagement than your own content – but Fairmont Hotels can’t match the engagement of Scout the Golden Retriever. He’s an influencer worth keeping.
8. Top Content
Of course, not every client is swayed by a cute, furry face. This is why segmenting your audiences by passionate interests is a smart move. Then you can appeal to each segment with the content that works for them. Identify the Top Content for your varying audience segments and channels, then deliver that. It worked for Cuisinart – who changed their strategy to incorporate recipe-driven product videos.
9. Top Channels
Content is meaningless if no one sees it or engages with it. Identifying Top Channels is about assessing the quality of the traffic on social channels, not just the volume. You want to connect on the channels where solid connections are happening – versus where consumers are “bouncing” quickly.
You can change the entire context of your creative when you identify your Top Channels, and how consumers are talking about you on them. Find out which brand discovered they were considered “candy” versus “cookies” in just this way by viewing the full webinar. The same brand saw a 4X lift in Mentions year-over-year by identifying Tumblr as their Top Channel.
10. Top Locations
Regional tastes and preferences matter. Do people in New York feel the same way about tacos as people in California? These geographical distinctions matter! So do Mentions happening in specific regions. What’s trending from region to region? Are there issues with product stock? Is there some local event you could be taking part in? You can’t act unless you know. You can create specific geofences around your store locations, specific neighborhoods, cities, etc.
11. Share of Voice
Understanding everything above within the context of content gives you the metric of Share of Voice. You can look at Share of Voice by channel, or break down consumer love and Mentions by brand and product/service features. This also shows you how you rate against competitors overall.
There are several tools and tactics that tie into measuring the metrics above – like Social Listening, Social Monitoring, Customer Experience Analytics, and Image Analytics, to name a few. All are part of any state-of-the-art Social Analytics tools suite.
With the right tools, measuring the right metrics, your brand has a clear roadmap for continued success. Just follow along in real-time and adjust as the road bends.
- Carlsberg’s ‘Simple’ Rebrand Demonstrates Exceptional Audience Understanding
- 2018 Consumer Experience Analytics Report Reveals Gaps Brands Must Fill