Social media marketing has come a long way from the days of warm and fuzzy “gurus” urging you to “join the conversation.” If you run a business, you need to see results—not just social media hugs. Succeeding in the era of social media measurement means using social to 1) drive towards particular goals, and 2) track your progress.
Enter organizations such as the Web Analytics Association, which recently turned its eyes to social measurement for a panel discussion in Chicago. The line-up featured a great mix of client and agency side marketers, as well as an analytics vendor:
- Blagica Bottigliero (@Blagica), Global Director of Social Media
at Motorola
- Dan Hindin (@DanielHindin), Digital Analytics Supervisor at
Weber Shandwick
- Marianne Llewellyn (@chicagoml), Director of Social Media
and Mobile Consulting for Adobe’s Omniture Business
- Michelina Mantas (@mickeymantas) Global Director of Social Media Strategy at OMD
- Scot Wheeler (@scotwheeler), Marketing Science Director at
Critical Mass
If you’ve ever attended a panel discussion, you know that the quality of such events varies greatly. I was more than pleased not only with this group but also with the audience; thought-provoking questions were immediately abundant.
First things first
Bottigliero kicked the group off with a basic yet often-ignored insight: In social media marketing, the first thing you must figure out is what you want to achieve. Only then can you pick which metrics to measure, and which tool(s) you'll need to execute the plan. Too often, marketers jump in not knowing some or all of those aspects. When they're asked if their social endeavors are working, they really have no idea—and then social doesn’t get the upper-level support it otherwise could have.
On a need-to-know basis
Bottigliero then advised client-side marketers to determine who within the organization needs to see what. Reports to your CEO shouldn't be swamped with the day-to-day data your social media team gathers. Instead, create a dashboard that leads with the most actionable, high-level insights.
Even if you are agency-side this is a good practice, and it's how we typically provide analysis: at-a-glance insights supported by in-depth data and recommendations. Since you never know who will ultimately read your reports once they're sent to the client, write them with multiple audiences in mind.
Small is the new big
Wheeler encouraged marketers to start with only two or three key performance indicators (KPI) and branch out from there. Along with the other panelists, he stressed the need to look beyond “likes” and “follows” when identifying these indicators. "Engagement" means something different for each brand, depending on the goals you set out and starting small allows you to best define your metrics.
For example, suppose your brand is aiming to increase awareness and actively drive users to your website. The primary metrics you may want to start with could be total page views and the time users spend on the site (TOS). If these increase over time you are likely driving more qualified leads to your site.
About that ROI question...
“What’s the ROI of social?” is a question often asked of marketers and community managers—and with good reason. Businesses need to know that the money they are spending is worthwhile.
Wheeler noted that trying to determine the ROI of social media before you’ve even started listening is a wasted effort. By definition, ROI depends on first making an investment and then gauging its financial return. If you haven't invested anything in social yet, you can’t be expected to determine what the return will be. Perhaps a better question to ask first is “What should I expect to get out of social media?”—because the answer may not be directly attributable to a dollar amount.
To that end, some controlled experimentation is definitely needed at the onset of a social campaign in order to determine more than just ROI. Questions you'll want to answer during this initial phase include:
- Is your content resonating?
- Is your audience more active in particular channels?
- Do they respond more frequently at particular times of the day?
To find these and other relevant answers, we recommend creating a pilot program with a monitoring goal set to obtain benchmarks specific to your situation. You should expect to pilot for at least six months before accumulating enough reach to provide consistent and accurate data before making an attempt to determine exact ROI.
This topic is important and complex enough that this blog post can't do it justice, so I encourage you to peruse Wheeler's presentation, “The ROI of Social Media ROI.”
Giving credit where credit is due
Another topic from the evening that Marianne Llewellyn spoke quite passionately about was link attribution (this too really deserves its own post). When it comes to analytics, most tools operate under a “last touch” attribution model where only the last online activity a user performed gets the credit for bringing them to your site (if that’s what you're measuring).
The problem with this model is that I could search for an item that I’m looking for today and find your brand within organic search results, follow you via Twitter tomorrow, and two weeks from now see a display ad when I finally decide to click through to your site and make a purchase. With most tools (like Google analytics), only that last display ad will get the credit (those display ads—always brown-nosing!).
Instead, a “multi-touch” model would spread the attribution evenly across all of the marketing efforts in our example. You get more accurate data, and your SEO and social efforts get the credit they deserve.
The takeaway from the evening
The event covered a wide range of topics, many of which this post alone cannot accommodate. But while social media is far from its more mature online brethren, it has become increasingly clear that social is not only here to stay, it is in fact measureable. Beyond that, it is an increasingly important tool in the savvy marketer's arsenal. Social marketing needs to be planned for, integrated with, and measured in conjunction with the rest of your online efforts.
Are you implementing a social media program? If so, we’d like to hear how you are measuring your results. Not sure where to start? Well, we’re here (and here and here) if you need us.