Friday, August 15, 2014

How To Analyse And Measure / The ROI Metrics For Social Media

Measuring Social Media can end up being a tedious task if not done with right Objective. You need to be clear on what exactly you are looking at. Measuring will go hand in hand with the objective and the reason as to why you ventured onto Social Media Platform. 

It is essential that you discuss and make sure that every concerned person is in tune with your Measuring Metrics. This is to be done at the very beginning. Over the course of time as your Page Members grow there will be fine tuning and tightening of the Metrics; however it is best to have a direction from the very beginning. Just the way you would have put forth the objectives of Social Media similarly you need to put forth the Measuring Metrics as well. 

The reason? Well if you set your foot ahead without knowing the direction and the goal then you may end up going all over without a direction. It is best to understand the Objectives and Measuring Metrics of Social Media at the very beginning. 

There are plenty of discussions taking place on what exactly would be the Measuring Metrics. For example there are people running for the number of 'Likes'. Just having 'Likes' is not a Measure to ensure popularity. People join your Page for various reasons. For example: At times they could be tired of the Customer Care on phone who perhaps may not be responding in the correct manner. Hence they could be hoping that your Page Administrator could be more active in procuring an appropriate response / solution. 

The various Metrics could be:

  • Study the Members of your Page. Are they relevant and your correct Target Audience. If you do develop a good Brand - Customer Relationship will it add value to your Objectives. 
  • Number of Interactions taking place as compared to the Number of Persons who have Joined you. 
  • The Quality of interactions. Mere numbers is not enough. If the people are talking with each other on topic that is unrelated to your Page then this interaction is of no use. 
  • It is essential to view the number of interactions with respect to the repeats taking place. If people have got engaged in one Post and then they are no more interacting in subsequent Posts then you need to take a call if that one Posts value is good enough to draw any analysis. 
  • If your back - end data collection is good and if the company has an IT department then tag the Customer data with your Members of Social Media. See who is purchasing and who is Passive.
  • Can you identify the low hanging fruits. Can you cluster the various Members into Active Members, Passive Members and so on. 
Check out these two Posts for more:

Measuring Your Customer In Social Media

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