We will dedicate this week and the following one to social media metrics and analytics. We’ll focus on two elements: identifying everything that we could measure and the highlighting some of the tools that could assist you in monitoring your project as well as measuring its impact and success.
A lot of changes took place since last year. Blogging platforms like WordPress.com have more sophisticated monitoring and statistics tools and Google Analytics has added more reporting elements to its dashboard including aquisition and conversions. However, whether using a blog or a website, the metrics vocabulary is shared so reporting will make referece to visits, unique visitors, pages, pages/visits, bounce rate, entry pages, exit pages, average time on site, organic and referral traffic.
Marc Poirier’s post on Mashable on marketing metrics is particularly useful.
Some of the metrics reported show daily activity and volume (visits, unique visitors, pages). Others, like pages/visit, average time spent on the site and bounce rates are good engagement predictors. Entery and exit pages provide valuable information about what the website visitors take interest into as well as their route into the website. These can be particularly useful when linked with flow as well as when linked with conversions.
Websites like Alexa and Hubspot Marketing Grader can provide insight into a websites’s traffic, ranking and SEO. Technorati does that for blogs. (Make sure you check how they mine and report their data!). However in order to monitor the success, reach and effectiveness of your online communications you will need to look into blog or website statistics and analytics. To determine what metrics are relevant for your project you will need:
- to familiarize yourself with the web metrics vocabluary
- to revisit your goals and objectives and determine what your targets/KPIs were and how you can translate these into metrics
Make sure you check the Google Analytics Academy playlist for more information (is at the end of the prezi above).