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This Week in Social Analytics #26

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Welcome back to This Week in Social Analytics, our ongoing summary of some of our favorite posts from the past week in the world of measurement, analytics and social media. Enjoy!

How to create social media metrics that matter
Over at Mark Schaefer’s {grow} blog, Steve Goldner provides some concrete examples of how to obtain and retain social media commitment from clients.

Making Business Decisions Through Data
David Armano and Chuck Hemann co-wrote this piece that presents two different models for decision making based on listening to online conversations in real-time and acting on insights gathered from the data.

Social Media Metrics that Matter and Outcomes Analysis
Keith Burtis encourages marketers to stop worrying about aggregate data that don’t affect results. Focus instead on metrics that matter — those that drive conversions that are important to your business.

How to Measure Social Media ROI Like the Experts
Corey Eridon at Hubspot gives several tips on how to measure social media success, from initial visit to conversion across all of your social networks.

The Most Powerful Social Media Measurement Tool Money Can Buy
Amber Naslund suggests that despite all of the wonderful social media measurement tools out there, the best way to analyze your metrics is to use good old human-powered critical thinking. Use the best tool for the job, but use your brain to gain insights from the data.

Written by Dean Cruse

December 2nd, 2011 at 10:25 am

This Week in Social Analytics #24

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Welcome back to This Week in Social Analytics, our ongoing summary of some of our favorite posts from the past week in the world of measurement, analytics and social media. Enjoy!

Half of all social media campaigns go unnoticed, says new report
Jon Russell of The Next Web discusses data from a new Digital Life 2012 report by TNS that suggests that as many as half of all companies running social media marketing campaigns are seeing their messages ignored.

Social Media and the Sampling Problem
Gary Angel of Semphonic is skeptical of the validity of brand-tracking and sentiment analysis with social media due to poorly controlled sampling. He also discusses Elea Feit‘s work on brand word-of-mouth and sentiment at the Wharton Customer Analytics Initiative and warns analysts to beware of trusting sentiment analysis from social media.

Social Media Analytics: Three lessons for success
Ted Sapountzis of SAP summarizes his presentation at Business Insider’s recent Social Media Analytics conference, including measurement tips he has picked up from his work at SAP and through conversations with peers.

The One Social Media Metric You Need
Heidi Cohen asked several social media marketers and analysts to describe the most important element of their measurement strategy and summarized the results in this post. Some great ideas from Perry Drake, Rebecca Lieb, Brian Massey, Jim Sterne, and others.

How to create social media metrics that matter
On Mark Schaefer’s {grow} blog, Steve Goldner provides some tips for social marketers to help them develop their plan and provide meaningful metrics to their businesses.

Written by Dean Cruse

November 11th, 2011 at 1:59 pm

This Week in Social Analytics #22

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Welcome back to This Week in Social Analytics, our continuing round-up of some of our favorite posts on social analytics, measurement, Twitter and other items that caught our eye over the past week. Enjoy, and please let us know what you think.

eMetrics 2011 NYC Take-aways
Coming off last week’s eMetrics conference in New York City, several measurement and analytics pros provided summaries of their key take-aways from the event. From Michele Hinojosa: Top Learnings from eMetrics NYC 2011, from Marshall Sponder: Overall Feedback from Emetrics Summit NYC and various other musings, and from Pamela Achladis: Smart Marketing Insights From eMetrics NYC.

Four Books + One Blog = Best Practices of ROI
On the topic of social media ROI, there are many choices for information. Chris Syme highlights her favorite sources for insight, including books by Katie Paine, Dan Zarrella, Olivier Blanchard, John Lovett, as well as Tom Webster’s Brand Savant blog.

Confusing Activity with Influence
Tom Webster takes on the “million follower fallacy” conversation and whether follower count impacts influence.

New Twitter Data: Optimal Link Placement for Clicks
Interesting analysis by Dan Zarrella that looks at how link placement in a tweet affects click through rates. Surprisingly, to me anyway, placing the link toward the front of the tweet is the most effective.

Written by Dean Cruse

October 28th, 2011 at 1:55 pm

This Week in Social Analytics #20

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Welcome back to This Week in Social Analytics, our ongoing summary of some of our favorite posts from the past week in the world of measurement, analytics and social media. Enjoy!

Best Social Media Metrics: Conversation, Amplification, Applause, Economic Value
Avinash Kaushik proposes a framework for measuring social media using four distinct metrics, independent of the social channel being used. These include: conversation rate, amplification rate, applause rate, and economic value.

Do Your Analytics Cheat the Truth?
Michael Schrage at the Harvard Business Review warns that executives should be careful of analytics presented in a way purely to generate influence and win arguments rather than to generate insight. When using analytics to gain understanding of the dynamics of a business, make sure you understand the data “outliers” – and make sure analysts present the full picture that the data tell.

The Hidden Costs Of Social Media
Ron Shevlin discusses how with social media, the incremental cost of communicating with customers and prospects is zero. This has changed the way ROI is measured with new media as costs have shifted from message distribution to message creation and understanding which messages are most effective.

Social media ROI: It’s not about immediate results
Cheri Macale at The Next Web, summarizing Gary Vaynerchuk, describes measuring the ROI of social media as more like trying to measure the ROI of your Mom. Results are not immediate, and social media should be used to generate quality leads, engage with customers, and create the voice of the brand.

A pitch for PR to focus more on owned media
Deirdre Breakenridge writes about how PR professionals shouldn’t only focus on securing earned media. New content is getting added to a brand’s owned media arsenal every day. By working with all of a brand’s content, PR pros can help their clients tell an even broader story.

Written by Dean Cruse

October 14th, 2011 at 11:08 am

This Week in Social Analytics #19

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Hello again from This Week in Social Analytics, our ongoing summary of some of our favorite posts from the week in the world of measurement, analytics and social media. Enjoy!

I Miss The Social Media Echo Chamber
Adam Price of SpeakSocial warns not to get caught up in the social media echo chamber, where you worry more about updating and reading your various feeds and networks and can forget about paying attention to your customers. Good advice. Customer insight wins.

Real Time is Wrong Time in Measurement
Katie Paine comments on Google’s recent annoucement of real time Analytics and suggests that “real-time” monitoring, while interesting to watch, can be short sighted in terms of the decisions you might make based on the data.

Klout, Kred and the Ugly Truth About Social Influence Measurement
On David Armano’s Logic+Emotion blog, guest writer Jennifer Leggio discusses several critical considerations to take into account when measuring and acting upon social influence.

Social Media and Return on Investment: Some clarity.
On The Brand Builder blog, Olivier Blanchard advises marketers to make sure they ask the right question when looking at measuring social media ROI. Measure ROI by looking at the activity and outcome you are trying to achieve. Social media may or may not be a means to that end.

Written by Dean Cruse

October 7th, 2011 at 12:59 pm

This Week in Social Analytics #18

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Welcome back to This Week in Social Analytics, our ongoing summary of some of our favorite posts from the past week in the world of measurement, analytics and social media. Enjoy!

Twitter Study Tracks When We Are :)
As reported in The New York Times, a new study by by sociologists at Cornell University and appearing in the journal Science analyzed messages posted by more than two million people in 84 countries suggests that our moods are driven in part by a shared underlying biological rhythm that transcends culture and environment. According to the study, people are more positive in the morning and evening and are most positive on the weekends, at least based on their tweets. What are the implications of this research on your Twitter campaigns?

The Real ROI of Social Media
On Forbes.com, Dan Schawbel talks to Jason Falls about some helpful tips on measuring ROI of social media.

The 6 Most Important Online Marketing Metrics Ever
In a guest post on the MarketingProfs blog, Jim Sterne of the Web Analytics Association outlines his view on the most important online marketing metrics — awareness, interest, engagement, sales, profits, advocacy. Refreshing in that these are real metrics that affect the business – no “vanity” numbers in that list.

Written by Dean Cruse

September 30th, 2011 at 4:00 pm

This Week in Social Analytics #16

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Welcome back to This Week in Social Analytics, our ongoing summary of some of our favorite posts from the past week in the world of measurement, analytics and social media. Enjoy!

“Demystifying” the Formula for Social Media ROI (Spoiler: There Isn’t One)
Our good friend Tim Wilson at Resource Interactive takes on the topic of social media ROI by looking at John Lovett’s recent book Social Media Metrics Secrets and Eric Peterson’s recent post about The Myth of the “Data-Driven Business” and concludes that “there is no silver bullet for calculating social media ROI”.

How to Use Social Media to Predict Marketing Trends
David Amerland writes about how social media conversation and reaction can be and is being used to predict everything from media event outcomes to political revolutions and stock market performance. Marketers can use many of the same analytics tools to not only measure success, but to fine-tune campaigns, leverage sentiment, predict trends, and better position their offerings.

Nielsen’s Social Media Report Q3-11
Nielsen’s new State of the Media: The Social Media Report looks at trends and consumption patterns across social media platforms in the U.S. and other major markets and provides insights on exactly how social media influences online and offlilne consumer behavior.

Infographic: The ROI of Social Media
The folks at MDG Advertising put together this infographic that aims to clear up the confusion in measuring ROI of social media efforts by outlining the objectives, benefits and factors that affect the success of social media marketing.

Conversions: Whose Job Is It Anyway?
Bryan Eisenberg asks: Who owns conversions in your organization? With many companies’ online marketing efforts, there are many people responsible for driving traffic but virtually no one responsible for converting that traffic into revenue. As social media channels further fragment online traffic, companies must not ignore conversions.

Written by Dean Cruse

September 16th, 2011 at 12:00 pm

This Week in Social Analytics #14

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Welcome back to This Week in Social Analytics, our ongoing summary of some of our favorite posts from the past week in the world of measurement, analytics and social media. Enjoy!

What’s the R.O.I.? A Framework for Social Analytics
Brian Solis asks whether “what’s the ROI of social media” is the right question at all. True return requires understanding more than just financial investment. He reviews Susan Etlinger’s research on “A Framework for Social Analytics” and argues that the opportunities for establishing the ROI of social media involve understanding the relationship between business objectives and social media tactics.

33% of B2B Marketers Don’t Measure Marketing ROI
Yes, you read that correctly. Pamela Vaughan at Hubspot writes about how recent research from Lenskold and the Pedowitz Group shows that a third of marketers don’t measure the ROI of their efforts, and only one in three actually report measurements they do make to senior management. In order for marketers to continue to secure budget for initiatives, including social media, they shouldn’t undermine their efforts by not reporting the results, or even worse, failing to measure at all.

The Case for Social Media Analytics Standards
In a recent chat with Beth Shultz at All Analytics and others, Marshall Sponder discusses the benefits of a standardization effort for social media analytics and suggests that “a standard and automated framework for mining data from social sites for business intelligence purposes” would be of benefit to all and help the social analytics industry mature.

15 Case Studies to Get Your Client On Board With Social Media
On the Mashable blog, Jonathan Rick suggests that marketers should explain the value of social media to potential clients by giving concrete examples of the interaction it can enable. He illustrates his point with several great case studies of how companies are using and measuring their social media efforts.

Written by Dean Cruse

September 2nd, 2011 at 3:57 pm

TakeFive with TweetReach – Adam Price

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Welcome back to TakeFive with TweetReach, our ongoing interview series with notable members of the social media analytics and measurement community. This week we’re happy to welcome Adam Price, co-founder of Speak Social, an Austin, Texas-based company that handles all aspects of social media marketing for brands.

TweetReach: Welcome Adam! Let’s start with talking about how you got started using social media. Can you describe your first “ah-ha” moment?

Adam Price: I come from an SEO background. My “ah-ha” moment happened while I was running analytics on one of my SEO clients. I noticed that a competitor’s Facebook page ranked above my optimized site. This site had massive amounts of SEO content and great back-links, yet we were suddenly second to an un-optimized Facebook profile. That planted a seed that I couldn’t get out of my head. I started researching social media non-stop and realized that it is the future of search. I understood then that social media will become the center of every marketing strategy going forward. I want to be a part of that.

TweetReach: How important was measurement in your initial strategy and how has that evolved?

Adam Price: Measurement is critical. The early problem in social media was that most books treated ROI like it didn’t exist. Most of the talking points around tracking and measuring ROI centered on why analytics didn’t matter, and how to refocus the conversation. I had more luck focusing on enterprise level companies who treated ROI as the central issue. At that level, they can’t just hide behind marketing fluff. You have to show hard data.

Today, tools to track social media success are booming as an ancillary business to social media marketing. Initially I pitched tracking ROI of our campaigns as my differentiator over the competition. Very few people were doing it. The social media marketers I looked up to were focusing on analytics from the beginning, following the “If you can’t track it, it doesn’t exist” model. It was a huge learning curve to get my head around how it related to the bottom line, and we continue to work on it. I learned early that time was a big factor of every campaign. Social media marketing specifically takes time before you can show results. The client must accept limited results in the first months. The clients that stick with it see results once the infrastructure is in place.

TweetReach: Does size matter? David Armano has written about the importance of topical influence. What do you think? How important is the size of someone’s social graph vs. their influence in a particular topical area?

Adam Price: David has it right, but this one is touchy. Overall, I would say a social graph size has little use to a client’s bottom line, but that’s not always the case. We represent professional athletes and models, and to them raw numbers mean quite a lot.

One of our most successful nonprofit campaigns started with a Twitter account of only 200 followers, but they were the right 200. If I had a restaurant, I would rather have one Paul Barron as a follower than 1,000 unassociated followers. This is nothing new of course; influencer marketing is old hat. The truly interesting thing is how many of the walls between a brand and the influencers are knocked down by social media. Those walls will rebuild, but until they do, we have a unique opportunity to reach out to anyone.

TweetReach: Do you have any examples of how analytics have helped you adjust or improve your social media activities? Has this ever happened in the middle of a campaign?

Adam Price: Absolutely, we obsessively track analytics. It’s important to develop social media measurement strategies based on business objective KPIs. There is a wealth of monitoring data available, but without a focused strategy, the data will not effectively develop and direct the campaign. At some level, we are always adjusting and tweaking. If our blogs get fewer views than expected, we revamp. If our Twitter reach is smaller than expected, we readjust. We never based measurements off the raw number of Twitter followers and Facebook likes. Those metrics were never a sound justification for social media marketing.

TweetReach: Is ROI for Twitter campaigns achievable? There a many different ways to measure activity, but how do your gauge your success, or help your clients do the same? What’s missing from the equation?

Adam Price: ROI for Twitter is absolutely achievable. Twitter requires you to be specific. You have to know who your audience is, and if you are reaching them. You need to create trackable links that you tweet, then measure who clicks those links. We gauge our client milestones upfront, and then work to meet them. The goals are tailored to the client. The question is not is ROI achievable, but is it achievable with this client?

When a potential client asks me to define the ROI of social media, I start by asking them how they track ROI on their current marketing strategies. What’s missing most times is the client’s holistic understanding of their business. You need to be crystal clear on where you are starting from with a campaign and where you are going. The best clients know their business inside and out. When you bring a tool like Twitter into the equation with one of these clients, it’s not hard to work together to gauge success.

TweetReach: Any social media pet peeves? What practices irritate you the most when you look at the state of the industry?

Adam Price: I think the thing that annoys me the most is the all too common perception that understanding social media channels directly equates to understanding social media marketing. We have a diverse staff of people on our team each who have different specialties, and we did that in a very premeditated way. Social media cannot be encompassed solely in Facebook. A true social media marketing strategy has multiple elements that have to each be accountable. I don’t mean to say that social media marketing is unapproachable or you have to have a team to have success, but right now there is a tendency to grab an intern who has a thousand friends on Facebook and make her your “social media solution.” The results are ineffective, at best, and reflect poorly on our growing industry.

Social media marketing is like anything else, you succeed by taking the time to gain knowledge before you begin. The great thing about the social media community is that they are so motivated to share what they know. You don’t have look very hard to find the information and help you need when you are just starting out.

Adam Price is a co-founder of Speak Social, an Austin, Texas-based company that handles all aspects of social media marketing for brands. Speak Social represents businesses, nonprofits, athletes and personalities. Adam strives to develop and improve the social media campaign process, which can close the gap between brands and the people that use them. His continued study of online media and marketing allows him to construct strategies that serve the client’s message and goals.

Written by Dean Cruse

August 31st, 2011 at 3:54 pm

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This Week in Social Analytics #13

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Hello again from This Week in Social Analytics, our ongoing summary of some of our favorite posts from the week in the world of measurement, analytics and social media. Enjoy!

Social Business Intelligence: Positioning a Strategic Lens on Opportunity
Dion Hinchcliffe with Dachis Group talks about social media at the intersection of big data and business value and lays out a strategic view of Social Business Intelligence. Dion’s framework compares social analytics — the measurement and data mining from social networks with social business intelligence — a broader, business-centric process that he believes will become a vital component of the way that companies derive bottom-line business benefits from their social media efforts.

There are Three Kinds of Lies: Lies, Damned Lies, and Social Media Metrics
The ability to measure a multitude of outcomes in social media can tempt many marketers to lose focus on what really matters. Debra Ellis at Wilson & Ellis argues that the only metrics that matter with any marketing activity are sales, costs, and customer satisfaction. If your social media activity isn’t increasing sales, decreasing costs, or improving customer satisfaction, then you’re wasting your time.

The Standard for Influence: Is It Really?
Stephanie Parker from Zamolution warns to be careful when using online influence scoring tools to measure your social media efforts. While they can be very useful in providing insight into important followers and should be used for that, it is often more important is to be engaging with a targeted, focused audience that aligns with your objectives.

Social Media Success Begins and Ends with Analytics
Chuck Hemann with Edelman Digital writes about how listening and measurement have advanced significantly over the last several years as foundational elements of social media programs. He provides some ideas on how to take it to the next level including integrating listening and measurement into the overall communications process, applying resources to the task, and surveying your audience for feedback. Chuck argues that social media analytics will be at the foundation of all communications programs for the foreseeable future.

5 Ways to Measure Social Media
Ron Jones with Symetri Internet Marketing provides a quick set of steps for measuring the success of your social media marketing efforts including awareness and exposure, share of voice and sentiment, influence, engagement, and popularity.

Written by Dean Cruse

August 26th, 2011 at 4:05 pm