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AGCJ 380: Social Media Measurement & ROI
Transcript of AGCJ 380: Social Media Measurement & ROI
What is social media measurement?
Measurement: In its simplest form, measurement counts and tracks efforts, content, audience and engagement on social networking sites.
ROI: Return on Investment; Represents a monetary or financial gain/loss that can be based on sales, employee time spent or any other measure related to a dollar amount.
Monitoring: This is more about what others are saying and doing than what a brand is doing. It's listening and recording.
What can it tell us?
Finds insights into a brands' overall visibility on social media
Measures the impact of campaigns
Identifies opportunities for engagement
Assesses competitor activity and share of voice
Alerts to impending crises
Provides valuable information about emerging trends
Shows what consumers and clients think about specific topics, brands or products
What can we measure?
Social measurement difficulties
Social media has inherent properties that are difficult to measure.
When you try to 1) justify what you are doing and 2) measure the return, you can’t compare these two things. It then becomes difficult to compare and optimize whatever the return is.
Not all tools are created equal (Klout). Make sure your tools explain how they measure.
Measurement is a necessary evil. Your boss will ask about ROI and results.
Activity: What can we measure?
In groups, make a list of as many social measurements as you can name.
Social Media Metric Tools
Start with built-in analytics and work outward
Know what you want to know and why
Choose tools that meet needs and inform goals
The Social Media Marketing Industry Report revealed “a significant 59% of marketers are using social media for 6 hours or more and 33% for 11 or more hours weekly.”