Saturday, February 14, 2009

Power of Social Media Metrics

I have been playing with Social Media Metrics as part of my recent work for Intuit with social media strategy among cross-functional groups as a way to measure campaign ROIs.

I feel the same excitement which I felt towards Google SEM metrics tools in 2003 as they evolved with enterprise adopting ppc campaigns. Today we need social media metrics as social media becomes a part of the marketing mix.

Power of Social Media Metrics Tools and ROI (example UCGExpo)

The beauty of social media and why I compare it to Google SEM engine is because the information is all public. The tools harness the data and we can set specific keywords, related to our product or competition or a combination that relates to a particular product or brand.

My friend Bob Miko of pacific dialogue invited me to User Generated Content Expo 2009 in San Jose Feb 9-10th organized by Media bistro of Jupiter Media. There was lot of excitement - good speakers, interactive audience and exhibitors, all very focused on the topic with not much frills on free food or giveaways.

Social media metrics tool SM2 from techrigy shows how bloggers and tweeters loved UGCExpo.

Social Media Impressions - breakup by blogs, twitter, videos from Feb 9 to 12th.
(click on graphs to see larger view)



Demographics of social media coverage



Tone of Social Media Impression is mostly neutral or positive



So the pr folks have achieved more than their ROI. Jupiter Media and Media Bistro can use this as baseline to overlay their future conferences to measure ROI for social campaigns.

95 comments:

Anonymous said...

Hi Sudha,
I love analytics too. Web analytics are addictive and now we're adding social media analytics to the mix.

They're going to be very helpful for companies to show ROI of their social media efforts.

Thank you for enthusiasm for Techrigy SM2. We really appreciate that! :)

Connie
Community Strategist, Techrigy

Anonymous said...

Hi Guys,

Any tips for a good starting point to social media analytics?

Sudha (Su) Jamthe said...

@Connie, Thanks for your note. Yes I see Web analytics extending to social media analytics as companies adapt social media into their marketing mix.

@50psi, what are you looking for. SM2 samples I showed here are a great starting point.

I think whatever your plans, you should create some baseline metrics on where your brand is before you get started. This will help identify key influencers in your market and also to understand what are the variables affecting your particular campaign.

Sudha (Su) Jamthe said...

@tessa thanks for your kind comments. Glad you found it useful. Were you looking for social media metrics and landed in my blog? Whats your interest in social media?

Sudha (Su) Jamthe said...

@daare, I am going to leave your comment w/o deleting. But want to tell you your compliments lose their value when u try to sell me shoes in the middle of a social media metrics blog post.

Would you walk into a party chat with people and ask them if they want Jordon shoes in the 3rd sentence? Does it help you or your reputation?

You should look at how Zappos uses social media and that will help you sell your shoes better. Good Luck

Sudha (Su) Jamthe said...

@50psi,

I am a big proponent of measuring everything in marketing. So I'd suggest you build a baseline of your customer activity first with a metrics tool. Good place to start is to try sm2 from techrigy.com or Radian6

Then figure out what you want to do with the metrics. Are you measuring a campaign? Are you looking to find where your customers are to define your optimal social media mix? Are you looking to measure ROI of a campaign? Are you looking to watch market activity of customers as a listening post?

There are also tools evolving just for twitter, one is cotweets, another is hootsuite. Some twitter apps track analytics of brand activity.

I'll be happy to give you specific pointers if you tell me what you want to do with social media analytics.

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