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Fantastic Metrics (and where to find them)

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At #SMDayADL I presented on the topic of social media reporting, sharing tips on establishing suitable goals, aligning them to relevant metrics, and employing reporting best practices.

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Fantastic Metrics (and where to find them)

  1. 1. Social Media Reporting Erica Stacey // Scout Digital Training // @ScoutSocial
  2. 2. We need to consider where we put all this content and data we’re creating… 
 Microsoft is exploring this; experimenting with underwater data centres: 
 https://www.citylab.com/life/2016/02/microsoft-cloud-ocean-project-natick/459318/
  3. 3. The role of data is changing. It’s value is increasing, along with the ability to 
 interpret data and make informed decisions. It’s a skill that is growing in demand.
  4. 4. The internet isn’t as simple as diagrams
 like this would have you believe though…
  5. 5. It’s more like this…
  6. 6. Don’t just look at data. Chase the metrics that are most valuable to you…
  7. 7. Why report? Regularly review historical and real-time data Better understand how people are really interacting with us online Make informed, strategic, results-focused decisions
  8. 8. Why report? Justify our roles Improve our ability to do our job
  9. 9. Effective reporting relies on Knowing what to track (having a strategy) Using appropriate tools Having a regular process Making people want to read our reports… Implementing relevant results-based actions
  10. 10. Don’t put the cart before the horse.
 It’s easy to focus on "sexy" metrics, however
 business goals should drive online goals, 
 which then relate to relevant metrics. Dig deep to find the real, underlying goals;
 what is really important to the organisation
 and its key stakeholders.
  11. 11. Business
 Goals
  12. 12. Business
 Goals Online
 Goals
  13. 13. Business
 Goals Online
 Goals Relevant
 Metrics
  14. 14. Business
 Goals Online
 Goals Relevant
 Metrics Relevant
 Tools
  15. 15. Context is key though. In the HBO TV series Silicon Valley, Pied Piper’s funders
 didn’t care when they hit half a million app installs…
  16. 16. The metric they care about is Daily Active Users. People who regularly use the
 app, not just download it once.
  17. 17. However DAU’s is a metric that can be gamed by click farms, so other metrics like
 time in app are also incredibly important.
  18. 18. Common Business Goals Increase brand awareness Increase brand loyalty Increase enquiries (especially "cold" leads) Increase sales
  19. 19. Look for those unique goals, relevant to your organisation…
  20. 20. Examples of Online Goals Sales/Bookings Leads Trial signups Account creations Newsletter subscriptions Downloads e.g. PDFs Online enquiries Clicks on telephone number Clicks to social accounts Engagement goals Watching videos Triggering live chat
  21. 21. “The end goal is action, not eyeballs.” –Jay Baer
  22. 22. Return on Investment was simpler to measure when we had a simple Ad/Marketing budget
 in, single point of sales out process. Today’s approach is much more complex.
  23. 23. Consumption Metrics Sharing Metrics Lead-Gen Metrics Sales Metrics How many people viewed, downloaded, or listened to this piece of content? How resonant is this content, and how often is it shared with others? How often does content consumption result in a lead? Did we actually make any money from this content? By Jay Baer
  24. 24. Value Metric Data points that can be used to take action 
 

  25. 25. Value Metric Data points that can be used to take action 
 
 e.g. analysing retweet data can help identify content topics and formats that drive social sharing and brand reach However if RTers have small followers or are spam/bot profiles, it’s no longer valuable. Context is everything!
  26. 26. Vanity Metric Data points that indicate engagement but have limited wider impact
  27. 27. Vanity Metric Data points that indicate engagement but have limited wider impact e.g. likes on Twitter may indicate popularity but increasing likes doesn’t increase content reach like retweets do
  28. 28. It all comes down to one thing:
  29. 29. It all comes down to one thing: Does the metric help you make decisions?  When you see the metric, do you know what you need to do? If not, you’re probably looking at a vanity metric.
  30. 30. You can still use "vanity" metrics such as likes/followers to gain a useful overview
 of the spread of your online community though. It’s how you use the data.
  31. 31. Aligning Goals with Metrics Brand awareness Brand loyalty Engagement 
 Conversions
  32. 32. Aligning Goals with Metrics Brand awareness Brand loyalty Engagement 
 Conversions Impressions/Reach 

  33. 33. Aligning Goals with Metrics Brand awareness Brand loyalty Engagement 
 Conversions Impressions/Reach Likes/Follows 

  34. 34. Aligning Goals with Metrics Brand awareness Brand loyalty Engagement 
 Conversions Impressions/Reach Likes/Follows Clicks/Likes/Comments/
 Retweets/Shares/Views
  35. 35. Aligning Goals with Metrics Brand awareness Brand loyalty Engagement 
 Conversions Impressions/Reach Likes/Follows Clicks/Likes/Comments/
 Retweets/Shares/Views Enquiries/Sign Ups/Sales
  36. 36. If you want to know which topics resonate best with your audience
  37. 37. If you want to know which topics resonate best with your audience Examine clicks, retweets/shares and other engagement signals, such as likes and comments
  38. 38. If a goal is to increase customer website retention using social media
  39. 39. If a goal is to increase customer website retention using social media Monitor Returning Sessions from Social Media sources 
 in Google Analytics
  40. 40. If you have a specific target demographic
  41. 41. If you have a specific target demographic Monitor the growth and engagement of these users specifically as well as your whole social community
  42. 42. Sprout Social By examining the demographics data for one organisation, we saw a definite split
 in gender preference for particular channels. Facebook = Female…
  43. 43. Sprout Social Twitter = Male
 We used this to influence the content and tone of our updates on these channels.
  44. 44. Minimum metrics to track Community size (Likes/Followers) Quantity/types of updates published Reach/Impressions Engagement (Clicks, Likes, Comments, Retweets, Shares, @mentions etc) Conversions Top Posts Top New Followers/Likes Top Engagement
  45. 45. Also consider tracking Averages and trends, e.g. Likes/Comments per post, new Followers/Likes per day Engagement Rate % = Total Engagement
 Traffic to website from social media Total Reach
  46. 46. Choosing the right tools (unfortunately there’s no magic answer)
  47. 47. The right tools depend on: Business goals Online goals Key metrics Budget Personal preference
  48. 48. Using the right tools Native analytics and insights Learn what insights each tool offers Link tracking tools, e.g. bit.ly or UTM campaign URLs Google Analytics, Clicky etc Social media management tools, e.g. HootSuite, Sprout Social Real-time tracking/dashboards, e.g. Cyfe, Klipfolio, Dasheroo Custom tracking tools, e.g. hashtracking
  49. 49. Twitter Analytics
  50. 50. Sprout Social
  51. 51. Google Analytics
  52. 52. Google Analytics While the proportion of visits from social might be small, they can often be highly
 engaged. So a report recommendation would be to try and attract more.
  53. 53. Google Analytics
  54. 54. Cyfe (dashboarding tool)
  55. 55. Anyone can show the numbers…
  56. 56. Anyone can show the numbers… The value comes from interpreting what they mean, 
 and what relevant actions should then follow. And again, there’s no magic to improving analysis skills. 
 It takes time, attention and practice.
  57. 57. Analysis questions Has there been a significant increase or decrease in followers? Has there been an increase or decrease in engagement with content? Have we attracted any new "epic" influencers (people with large, engaged follower bases and major influence on other people)? Has there been an increase in activity for relevant #hashtags? Have any of our key competitors had a noticeable shift in key metrics like followers? Has there been a shift in brand sentiment e.g. positive to more negative?
  58. 58. Reporting Best Practice The best approach is to 
 focus on your own 
 performance and growth…
  59. 59. Report recommendations Identify important goal-based metrics Report regularly, e.g. monthly, or quarterly Extract relevant data into a separate file e.g. XLS Identify significant changes / spikes / decreases Delve deeper where required
  60. 60. Report recommendations Highlight key changes, with explanations why Admit and own any decreases / negative results Don’t include data you can’t explain Use data visualisation to complement the numbers Screenshot top posts and important new followers/ engagement examples
  61. 61. Report recommendations Include a short, useful executive summary (get to the point) Tie back to business goals Use results and change trends to influence strategy Continue regular management and reporting
  62. 62. Erica Stacey // Scout Digital Training // @ScoutSocial

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