Social Media Metrics and Analytics

Chapter 6

MEDIA MANIACS:Shana BucherDamion WilsonQuinn McLeanMiles GarciaHamisha Bunch

“Prove your point with numbers but make sure you attempt to do so with numbers that matter.”

-Jay Baer(@jaybaer, 2013)

Metrics focus on counting, tracking and presenting past data.

Metrics are Informational

Analytics are strategic

In complete contrast, Analytics looks at both past and present data

Examples of Metrics and Analytics

Talent Metrics (HR): How many top sales reps left last quarter?

Talent Analytics (Business): Why do my top performing employees keep leaving?

Talent Metrics (HR): What is the average compensation for engineers across the

organization?

Talent Analytics (Business): Why are our top software engineers dissatisfied even after

we’ve given everyone a department-wide raise?

KEY WORDS!

ROI(Return on Investment)- A performance measure used to evaluate the efficiency of a number of different investments.

Reliability- Measures the overall consistency of the items that are used to define a scale

Validity- Is the extent to which a concept, conclusion or measurement well-founded and corresponds accurately to the real world.

Transparency- Is the concept of determining how and why information is conveyed through various means.

Social Media Measures

Jim Sterne has spent more than 30 years selling and marketing technical products. He began his career as a professional explainer, helping people understand Visicalc at a time when “personal computer” was an oxymoron. He successfully described sales order processing systems to people using hand-cranked tabulators. He was at the forefront of the Computer Aided Software Engineering (CASE) tool revolution and has clarified the salient points of object-oriented programming to software engineers across the country.

Sterne (2010) was one of the first to understand the power of social media data and catalog dozens of possible measures.

https://youtu.be/9yBRdLfgYv4

Some of the earliest important measurements of social media marketing consumers were:

Buzz based upon number of impressions at a given time, on a specific date, time of year, channel, etc.

Popularity

Mainstream media mentions

Number of fans, followers, friends, etc.

Reach, or second-degree impressions

Likes or favorites

Sentiment

Number of interactions or engagement rate

Conversions to purchases

Metric Video

https://youtu.be/cQlfAQnyDTA

COI: Cost of Ignoring

A newer metric developed in response to criticism of the lack of social media ROI. It emphasizes the need for online engagement.

Introduced as a way to say that social media offer both opportunities and risks

“The COI of social media comes down to missed opportunities...you need to question your opportunity costs.”

“See” Metrics“Say” Metrics

Facebook Page Like totalsTwitter Followers totalsWebsite trafficEmail sign-upsRSS subscriptionsAdvertising impressionsEarned media impressions

LikesSharesRe-tweetsEmail forwardsGoogle +’s

“Feel” Metrics“Do” Metrics

Social media users may have emotional responses to what they see or comment about

Reaction or sentiment may be important

Totaling the number of likes provides quantitative measures

Track behavioral outcomes

Making a product purchase

Conversion to sales

Google Analytics

What is Google Analytics

What are the other features

Why is it important

Facebook Insights

Use FB insights for your Fan Page.

Similar to Google Analytics.

You can link it to other pages.

Twitter Analytics

●Founded by Jack Dorsey in 2006

●50% of users access it through a mobile device

●236 Million active users a month

Many users and companies use to Twitter as a way to communicate their message worldwide in real-time.

The data collected helps brands reach their demographic

AMEC’s seven principles

1.Importance of Goal setting and Measurements

2.Measuring the effect of outcomes

3.The effect on business results can and should be measured where possible

4.Media Measurement requires quality and quantity

5.AVEs (Advertising Value Equivalents) are not the value of public relations

6.Social Media Can and Should be measured

7.Transparency and replicability are paramount to sound measurement

Tweetlevel Developed by Jonny Bentwood in 2009

One of the first measuring tools Twitter used

A twitter tool to analyze a user's twitter data

Helped to see who has engaged with your post without “leaving a footprint”

Words Clouds - keywords frequently used by an influencer

Other popular twitter tools

ReTweetRank - Track re-tweets and the number of influential followers.

TweetReach - Measure reach (accounts reached), exposure (impressions and activity.

Topsy - compare recent Twitter activity of brands and links specific tweets.

Dashboards

Social Media Dashboard - a management tool that user use to coordinate a social media presence across multiple channels or accounts, through a single interface.

Helps with scheduling, collaborate with team members, and productivity.

Will also offer an analysis break down across multiple social media platforms.

Network AnalyticsAcademic researchers have

begun to explore online behavior and measurement through application of social network theory. The systematic study of how individuals interact in social settings has been the focus of research for more than 50 years.

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In the current era of social networks and social media, these connections are important to journalism and public relations (PR).Social networking generates measures of branding, influence, trust and dispersion of ideas through Twitter and Facebook, and offers an opportunity to be seen as an opinion leader.

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Information theory and models emphasize flow of messages through channels. The perception of communication depends upon situations and context

Cnt.Twitter users (sometimes called

“tweeps”) may be analyzed to identify “visual patterns found within linked entities. Researchers have proposed and developed methods for analysis of structure and grouping of categories and clusters in a social network.

In social network analysis, Twitter users are connected by a series of lines in social space. The maps represent a center of people at the core of a network, as well as “isolates” at the periphery.

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Researchers have proposed and developed methods for analysis of structure and grouping of categories and clusters in a social network.

One particularly important aspect of social network analysis is the detection of communities, i.e., sub-groups of individuals or entities that exhibit tight interconnectivity among the other wider population.

Communication theory also has been concerned with how networks relate to personal influence Cooley identified four factors:

Expressiveness, Permanence, Swiftness Diffusion of communication

Data Analyses can be performed using NodeXL software:

Researchers use NodeXL, which is a social network analysis tool built into Microsoft Excel in current versions and is specifically designed for non-programmers, to collect, analyze and visualize network data from social media sites, such as Twitter. The software uses an algorithm that looks for groups of densely clustered tweeps that are only loosely connected to other tweeps in another cluster.

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The measurement of social networks opens the possibility:

Develop greater sophistication in social media analyses.

Understanding communication patterns of influence, as well as the content of the communication, we should be able to understand impact of Twitter and other social tools.

Discussion Questions

1.If you were advising a CEO who had never been on Twitter to

create a profile, which key concepts would you discuss with her or

him?

2.Consider ways to use social media to improve trust and influence.

Which Twitter measures would you want to track?

3.Is there ever a case for disengagement from social media? Which

circumstances would provide reasons to lower levels of

engagement?

Works Cited

Lipschultz, Jeremy Harris. Social Media Communication: Concepts,

Practices, Data, Law and Ethics. New York: Routledge, 2015. Print.