We started to have a look at digital and social media metrics during Lecture 8, and continued to do so during lecture 9.
We also had the pleasure to be joined by Wouter Smet of Engagor one of Europe’s newest and most promising social media monitoring and management platforms who gave a us a demo and showed us once more how complex social media measurement and monitoring can be. Unfortunately, none of our recordings worked so if you want to learn more about Engagor, you’ll have to get in touch with Wouter and his colleagues.
I emphasized then that each platform within social media comes with some specific metrics such as followers for Twitter, fans/subscribers for Facebook, likes/dislikes on YouTube.
On their own, these metrics do not say much either about the person/company managing the accounts or about the people using them. The numbers start to make sense only when linked to specific goals and targets.
In that respect, we have spent some time during the lecture giving some examples of how objectives would be translated into metrics.
Some are reproduced below:
Objective: Increase frequency of purchase
Target: …. (include figures here)
Tactics: Facebook discount for repeated purchase
- positive of net new mentions of product/company
- number of likes before/during campaign
- number of shares during campaign
- click-throughs on offer related links
- number of repeated purchases/customer
Objective: Increase number of iquiries solved via social media
Target: …..(include values here)
Tactics: Twitter account as customer service outlet
- number of mentions qualifying as an inquiry
- number of replies qualifying as an answer to an inquiry
- ratio of inquiry to response messages
- number of solved inquiries
Objective: Idea generation (Crowdsourcing ideas)
Tactics: LinkedIn group
- number of shares of the post
- number of comments to the post
- number of ideas generated
- feasibility/applicability of ideas.