Social Media Measurement | Social Media Marketing Tutorial | Simplilearn
Summary
TLDRThis video script delves into the significance of measuring social media efforts, emphasizing two key reasons: determining if the investment is worthwhile and seeking opportunities for improvement. It introduces four crucial social media metrics: economic value, conversation rate, amplification rate, and Applause rate. The script explains how these metrics can guide digital analytics strategies and offers insights into their practical application across different social media platforms. It concludes with the importance of aligning measurement with specific business goals and the value of working with analytics experts or enhancing one's own analytical skills.
Takeaways
- 📊 **Identify Two Primary Reasons for Measuring Social Media**: Understanding if efforts yield a positive ROI and seeking improvement for future campaigns.
- 🔍 **Economic Value Beyond Sales**: Recognize that economic value includes not just direct sales but also cost savings and business process improvements enabled by social media.
- 🗣️ **Conversation Value**: Focus on engagement and the depth of conversation to understand what resonates with the audience and to guide content strategy.
- 📈 **Amplification Rate**: Track how far and wide your message travels, indicating the reach and influence of your social media efforts.
- 👏 **Applause Rate**: Gauge audience sentiment and approval through likes, favorites, and other forms of positive social reinforcement.
- 📝 **Customize Metrics to Goals**: Tailor measurement metrics to align with specific business objectives rather than relying on generic metrics.
- 🔧 **Improvement Through Measurement**: Use data gathered from social media efforts to refine and relaunch more effective campaigns.
- 📊 **Specific Social Media Metrics**: Utilize metrics like economic value, conversation rate, amplification rate, and applause rate for targeted social media measurement.
- 🤝 **Influence of Social Media on Customer Service**: Acknowledge how social media can reduce customer service costs and improve customer satisfaction.
- 📚 **Deep Dive for Smaller Teams**: For companies without dedicated analysts, it's beneficial to deepen understanding through courses on web analytics and conversion optimization.
Q & A
What are the two primary reasons to measure social media efforts?
-The two primary reasons are to determine if the efforts were worth it by assessing the positive ROI and to improve by gaining knowledge to make future efforts more effective.
Why is economic value important in social media measurement?
-Economic value is important because it considers the total revenue produced by social media efforts and the cost savings provided, which includes direct sales and indirect benefits like reduced customer service needs.
What does the term 'amplification rate' refer to in social media measurement?
-Amplification rate refers to how far a message travels once released on social media, including shares, influencer exposure, and viral reach.
How does 'Applause rate' differ from other social media metrics?
-Applause rate is about positive social reinforcement like likes and favorites, indicating sentiment and approval from the audience, unlike other metrics that focus on engagement or reach.
What is the significance of 'conversation rate' in social media measurement?
-Conversation rate signifies the level of engagement and interaction with the content, indicating whether people are responding and participating in discussions around the posted content.
Why is it crucial to define measurement goals before starting a social media campaign?
-Defining measurement goals ensures that the metrics tracked are aligned with the campaign's objectives, providing meaningful insights and avoiding analysis paralysis.
How can understanding the 'amplification rate' help in content strategy?
-Understanding the amplification rate can help in content strategy by identifying which types of content resonate well with the audience and are more likely to be shared, thus increasing reach.
What is the role of 'Applause rate' in gauging audience interest?
-The Applause rate serves as an indicator of audience interest by showing the level of positive reinforcement through likes, favorites, and other forms of social endorsement.
Why might the Applause rate not be a reliable indicator on all social media channels?
-The Applause rate might not be reliable on all channels because different platforms have different user behaviors and engagement patterns, with some users preferring to show approval through sharing rather than liking.
What is the difference between measuring as a marketer versus an analyst in social media?
-As a marketer, measurement is about understanding high-level insights to guide strategy, while as an analyst, it involves deeper data analysis, using more tools and detailed insights to interpret complex data.
How can a company leverage social media to reduce costs, as mentioned in the script?
-A company can reduce costs by using social media to decrease customer service inquiries, reduce call center traffic, or test products before full-scale launches, as exemplified by the case of Infusionsoft.
Outlines
📊 Measuring Social Media Success Beyond Vanity Metrics
The paragraph emphasizes the importance of measuring social media efforts beyond basic metrics like followers or likes. It introduces the concept of aligning measurement strategies with business goals to ensure the value of social media initiatives is accurately assessed. The speaker stresses the need to avoid 'analysis paralysis' by focusing on relevant data that can be leveraged effectively. Two primary reasons for measurement are identified: determining if social media efforts are worth the investment (economic value) and improving future efforts based on insights gained (improvement). The paragraph also introduces four key social media-specific metrics: economic value, conversation rate, amplification rate, and applause rate, which are crucial for a comprehensive measurement strategy.
💹 Economic Value and Conversation Value in Social Media Metrics
This section delves into the first two of the four key social media metrics: economic value and conversation value. Economic value is defined as the total revenue generated by social media efforts minus any costs, highlighting the importance of considering both direct sales and cost savings. The example of Infusionsoft's social media initiative is provided to illustrate how social media can lead to significant cost savings and improved customer satisfaction. Conversation value goes beyond simple engagement, focusing on the depth of interaction and the topics that resonate most with the audience, guiding future content strategy.
🔄 Amplification Rate: Measuring the Reach and Impact of Social Media Content
The paragraph discusses the amplification rate, which is about how far and wide a message travels on social media once it's posted. It includes shares, influencer exposure, and virality. Amplification rate is a strong indicator of content reception and value, showing how well a message resonates with the audience. The paragraph also touches on the idea that amplification can be influenced by the reach and influence of the initial audience and how it can extend beyond that to reach new viewers, as exemplified by the significant reach of a Lindsay Sterling video on YouTube.
👏 Applause Rate and the Importance of Feedback in Social Media Metrics
The final paragraph focuses on the applause rate, which is about the positive social reinforcement through likes, favorites, and other forms of approval on social media platforms. It serves as an indicator of sentiment and like-mindedness, reflecting the audience's approval and willingness to engage. The paragraph notes that while applause rate is not always a reliable metric, it can offer social proof that can influence user engagement. The importance of understanding the specificities of different social channels when measuring applause rate is emphasized, as user behavior varies across platforms.
📚 Conclusion and Call to Action for Deeper Learning
In conclusion, the paragraph summarizes the key takeaways from the video, emphasizing the importance of aligning social media metrics with campaign goals, understanding the nuances of conversational and amplification value, and recognizing the limitations of applause rate as a metric. It advises marketers to collaborate with analytics experts or to deepen their own understanding of data analysis to effectively measure and optimize social media efforts. The speaker also encourages viewers to explore further learning opportunities through related courses to enhance their digital marketing expertise.
Mindmap
Keywords
💡Measurement
💡ROI (Return on Investment)
💡Economic Value
💡Conversation Rate
💡Amplification Rate
💡Applause Rate
💡Engagement
💡Content Marketing
💡Social Media Channels
💡Digital Analytics
💡Conversion Optimization
Highlights
Understanding the two primary reasons to measure social media efforts is crucial for guiding your digital analytics strategy.
Economic value in social media is not solely about product sales but also includes cost savings and business process improvements.
Measuring social media efforts aims to determine if the investment in time, money, and resources has yielded a positive ROI.
Improvement is a key goal of measurement, seeking knowledge to enhance the effectiveness of future social media efforts.
Avanos Kikov introduced four primary social media-specific metrics in 2011, which remain relevant today.
Economic value metrics consider total revenue and cost savings provided by social media efforts.
Social media can reduce costs, such as in customer service and call centers, contributing to economic value.
Amplification rate measures how far a message travels on social media, indicating its reception and value.
Conversation value goes beyond engagement, looking at response rates and the topics that resonate with the audience.
Amplification rate can be measured by shares, retweets, regrams, repins, and shares across different social networks.
Applause rate, indicated by likes, favorites, and other forms of social reinforcement, serves as a sentiment indicator.
The value of Applause rate can vary by social channel, with some platforms prioritizing sharing over liking.
Marketers should use campaign goals to define the metrics that are worth tracking for their specific circumstances.
Conversational value helps identify impactful content for future content strategy planning.
Understanding measurement as a marketer involves collaborating with analytics experts or deepening one's own analytical skills.
The video concludes with a call to action for viewers to subscribe for more digital marketing expertise and certification opportunities.
Transcripts
[Music]
after watching this video you should be
prepared to identify the two primary
reasons to measure social media efforts
and use them to guide your digital
analytics strategy to explain why
economic value is about more than how
many products you sell to outline the
four primary social media specific
metrics and their purposes and to
identify the appropriate Applause
indicators on major social channels
let's begin lesson two social media
specific
metric now back in part one of this
series we talked a little bit about what
exactly it is we meant by measurement
that it's about more than just so-called
measuring a channel it's about measuring
the impact of the channel it's figuring
out how to find Value because what
happens all too often when we talk about
measurement is people get focused on
those those easy to see social media
metrics that are just right there in
front of you how many followers do you
have on Pinterest you know how many
likes did you get on that Facebook post
how many thumbs up happened on YouTube
and again those have value and we'll get
to those but measurement is about more
than a predefined set of formulas that
everyone needs to follow yes there's
going to be some things that are across
the board but really when it comes down
to creating a measurement plan for your
campaign or for your company your goals
are going to Define what has value so to
get things rolling you need to be able
to ask yourself a couple questions
because as with everything else we've
learned it'll all come down to what
works best for you what your business
needs to have happen so you need to ask
yourself things like what is it that you
need to know where can you get that type
of information and what will you use the
data for because if you don't take the
time to ask these questions it becomes
all too easy to find yourself in that
place of analysis paralysis where
there's just so much information coming
in and you really don't know how you're
actually going to leverage it or do
something with it now there's two main
goals when it comes to social media and
a lot of this is about perspective
because there's a million different
things you can measure but it all comes
down to two key points of value the
first one is the idea of whether or not
your efforts were worth it the primary
reason we measure our social media
efforts is to answer that question was
the amount of time and money and effort
and Staffing that we put into it
rewarded by a positive enough Roi to
justify that investment that's the first
and foremost thing we always want to
look at is are we wasting our time or is
what we're doing actually helping us
progress further the number two purpose
of measurement is Improvement this is
the other key thing that we're looking
for is to gain the knowledge needed to
make our efforts more effective the next
time around basically to create that
process of learning refining and then
relaunching ing our efforts when it
comes to looking at measurement and sort
of digital analytics from the social
media side there are definitely some
areas that are very particular to this
area of marketing in fact way back in
2011 avanos Kik introduced four key
measurement points that could be used
for social media and they're still a
great starting point today now if you
want to read the whole article that he
put together you'll see the link down
there at the bottom tiny URLs sl-
measure that'll take you right to it but
I'm also going to walk you through sort
of what they are and what they look like
in terms of practical application so
basically he boiled down the idea of
sort of the highlevel social media
measurement into the area of economic
value conversation rate amplification
rate and Applause rate now when it comes
to economic value the basic idea here is
to look at the total revenue that's
being produced by your efforts while
also considering the cost savings that's
provided by those efforts because keep
in mind a lot of times with social media
it's not necessarily the direct value of
how many products did we sell but it's
also how your social media efforts how
the connection points that are created
there what it enables to happen within
your business so sometimes that's direct
sales you know clearly you want to track
the sales that come from your social
media promotions so you know if you
you've put something out on Facebook
especially if you're you know using
discount codes and stuff it's fairly
easy to go in and track that to see okay
how much revenue came from this
particular sale or this particular
campaign but sometimes it's about saving
money through the way you leverage
social media maybe you're reducing call
center traffic maybe you're having
reduced brick-and mortar hours because
you're doing more selling online maybe
you're using it to test products before
you launch so there's a great quote from
one of the marketing team over at
infusion soft that that talked about the
differences that happened when they made
use of social media to engage the
customers to answer questions you know
to not necessarily have everything go
through customer service agents and they
said two years before they started the
initiative they had approximately one
customer service agent for every 55
customers and a 77% customer
satisfaction rating now after they
implemented their social media
parameters they found that the ratio
could drop to One agent to 172 customers
and they actually saw a bump up to 87%
customer satisfaction rating said
infusion soft social media initiative
saved the company millions of dollars in
overall support costs and produced a 10%
increase in customer satisfaction so
again that comes back to that economic
value that's created through the actions
taken in social
media now the same way that some
companies find that they really pull
some nice economic value in from maybe
lowering customer service needs or you
know changing call center costs a lot of
times companies also get that media
benefit so a great example of this is
craft who estimates that it pulls 1.1
billion ad Impressions per year at four
times better Roi from their content
marketing and social media efforts than
they do from their targeted advertising
so again it becomes about shifting
things over a little bit so that you're
still getting that benefit but there's
not quite as much money going in behind
it and that comes into the economic
value side of things now understanding
conversation value means understanding
that it's more than engagement because
most of us consider sort of the
conversation that happens in social
media to be engagement and there's truth
to that but we're looking a little
deeper at the the idea of whether people
are commenting on your posts responding
to your updates and otherwise engaging
with you and there's a lot of different
ways we can look at that one of those is
the idea of conversational response so
are they replying to what you're putting
out there are people engaged or are your
social posts met with silence you know
it's not uncommon for us to see this
happening on channels like Facebook
where people put out an update and
there's literally zero response in fact
sometimes only a teeny tiny infimal
amount of their followers are even
seeing that update due to algorithms on
the other hand sometimes that content
goes out and it's just massively
received you know people absolutely love
it and engage with it that
conversational response helps us
understand what in particular people
really like and what they care about now
there's also the idea of conversational
resonance this is the idea of which
topics in particular tend to produce
positive conversation or open the door
for more engagement so by taking the
time to look overall at the content you
have coming in and identify those places
where you see really really great
residents really really high levels of
Interest especially organically that's
one of those opportunities to look deep
and see what was the content what was it
we put out why did that resonate so well
with people and what do we do to create
more of that type of content and sort of
what's the what's the happy medium of
how often we can leverage that before
maybe we push it a little too far and it
loses its value so again it's learning
how to identify some of those wins in
the areas of
potential there's also the idea of
conversational Direction This is
basically saying based on what we're
learning how are we going to adapt our
efforts moving forward what new
opportunities exist for content and for
campaigns where do we go next you know
what are we seeing get brought up in a
comment somewhere or you know maybe
we're looking on Pinterest and we're
seeing what's the name of the pin board
that they saved our content to because
maybe they're leveraging it in a way
that we didn't think about that helps us
know where we want to go next now if we
move on to the idea of amplification
rate to try and understand what that
looks like this becomes about the idea
of a combination of share and reach
because amplification is the measurement
of how far your message manages to
travel once you've sort of released it
into the wild of social media so this
includes everyday sharing it includes
influencer exposure this includes when
things tend to go viral so there's
several things we want to look at here
one is the base level knowledge that
amplification is a strong indicator of
reception and value basically that
people like you people don't tend to
share content unless they find Value in
it yes there's times where they share it
because they're upset or frustrated at
it but they're still finding some
measure of value worth engaging and
talking about so the amount of
amplification that's taking place is a
good indicator of how well your content
is resonating with people now
amplification rate is also a good
indicator of connection power in other
words how influential is your sort of
starting point base level visitors and
the people who tend to engage with you
and share your content because social
sharing might help you pick up some new
eyeballs but really strong amplification
that indicates pickup by influencers an
evangelists within a vertical or it
indicates an extraordinary amount of
interest that might go past what your
normal content tends to pull now
amplification looks different on every
Network it's best measured on an
individual basis with different pieces
of content on those individual channels
overreach is a great sign of really
strong amplification overreach basically
means your message is getting to more
people than what that initial starting
point of your reach was meaning it's
extended past what you were capable of
doing on your own now when we look at
these different networks and we look at
what's going to sort of indicate that
amplification on Facebook we're looking
at things like the shares per update on
Twitter it's about the retweets per
tweet on Instagram
it's your regrams on Pinterest it's your
repins on YouTube it's your shares you
kind of get the general idea here it's
someone taking what they found and
passing it along to the next person now
when we look at a channel like say
YouTube we can take an example video so
for example the crystallized video from
Lindsay Sterling we can see that she has
2.9 Million YouTube subscribers but when
we look at the reach of this individual
video we find that 70 million people
viewed it that's roughly 25 times her
subscriber count that's a pretty great
indicator of the amount of amplification
that was taking place with this
particular video it not only went past
or you know not only reached a good
portion of who followed them you know
that her followers themselves came in to
watch it not only went past that but it
completely blew it out of the water so
again great indicator of excellent
amplification now when we move on to the
idea of Applause rate this comes down to
feedback this is less about Shar ing or
conversation and it's more about the
positive social reinforcement that takes
place on channels these are the likes
the favorites you know things like that
Applause rate is an indicator of
sentiment or like-mindedness it's
basically approval that positive
reinforcement through social
endorsements that serves as a good
indicator of the willingness of your
audience to communicate and of what they
like so again when we're when we're
looking at a piece of content on YouTube
it's not just the amount of views it
gets it's also looking at what's the
thumbs up versus the thumbs down because
that's one of those things that people
look at when they land on the content to
go okay maybe a ton of people watched it
but did they like it so when there's way
higher thumbs up than there are thumbs
down that's a really good indicator
that's the Applause rate that says to
someone this video is probably going to
be worth watching if they're searching
for something on Pinterest they're going
to look at the number of repins and the
number of favorites and likes that are
taking place cuz that's an indicator of
how many other people have found this to
be really valuable content and that's
going to help give us that social sway
to determine whether or not we want to
engage with that individual piece of
content now Applause rate much like some
of the other areas tends to be specific
to the individual social Channel you're
looking at so again on YouTube that's
going to be the thumbs up per video on
Pinterest it's going to be the number of
likes per video on Twitter it's the
favorites on Facebook it's the likes per
post but it's really important to
remember that of all of the ones we've
talked about Applause rate in particular
is not always a reliable indicator a lot
of that's going to depend on the
individual social channel that you're
looking at because the true value of
Applause rate is tied to that specific
Channel it can really be a strong
indicator on Facebook or on YouTube
where people are used to giving the
thumbs up they're used to giving you
know clicking that like button but it's
less so on places like Pinterest and
Twitter where people tend to share their
their approval through the sharing
action so on Pinterest it's more likely
that they're going to repin than it is
that they're going to click that like or
favorite button on Twitter they're more
likely to retweet something they really
like or to respond to it than to click
that favorite button so you have to have
some understanding of the channel that
you're on and what you're trying to
measure to know whether or not it really
is going to give you that reliable
indicator of what your applause rate
looks like now wrapping it all up it's
really critical to remember that there's
a difference between understanding
measurement what we need to measure sort
of how we need to measure between doing
that as a marketer versus doing that as
an analyst because an analyst clearly
needs to have way more tools and way
deeper insight and information here so
if you're coming at this from the
marketing side this should give you that
base level knowledge and insight to be
able to go and talk to your digital
analyst to be able to say here's what
we're looking for to be able to help
interpret some of the data they bring
back to you if on the other hand you're
at a small company where you rely on
yourself to be able to do the analytics
to do the measurement I'd really suggest
that you take the time to dig deeper by
jumping into our web analytics course
here at simply learn because there's
going to be a lot more detail a lot more
information and a lot more input on what
it looks like to really get in and
gather that data also consider taking a
look at the conversion optimization
course because that's where you're going
to learn a little bit more about things
like AB split testing and what it means
to try this effort versus that effort
and to understand how that factors in to
the testing that goes along with
analytics now wrapping this all up your
key takeaways from this video are one
that it's rarely a good idea to base
your metrics off of standard issue
options you need to make sure that
you're using your campaign goals to
define the metrics that are going to be
worth tracking for you in this
particular circumstance number two
conversational value not only helps you
measure engagement it also helps you
identify the cont content that's making
an impact so that you can use that to
plan your future content strategy number
three amplification rate serves as a
really strong indicator of consumer
buyin towards your content basically do
they like it do they approve of it and
do they think it's worthwhile to pass on
to others number four Applause rate
tends to be the least accurate social
media specific metric but it does serve
as a very good indicator of interest and
offers the benefit of social proofing to
help sway engagement from users who come
in and see that Applause rate in effect
and then finally while all marketers
need an understanding of measurement
it's best to work with a trained
analytics expert for your data or to
take the time to familiarize yourself
more deeply with what it looks like to
really dig into the data this concludes
lesson two social media specific metrics
with that we come to the end of section
10 social media measurement thank you so
much for joining in this
[Music]
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