Organizations use performance measurement to understand how their organization is performing and to provide information that will guide activity in order to improve it. Social media metrics are new — they are assessing activities that organizations have not used before, and the measures themselves are also new. The role that the metrics play in organizations remains the same, though. They provide information that will help you improve your performance, focusing your resources and better achieving your organizational goals.
By aligning your social media metrics with your organizational goals and the metrics that measure those goals, you will ensure that your organizational social media activities are contributing to organizational performance.
Building a business starts with a mission, an idea, a desire to bring a product or service to a wanting market. But what if you alone are the product, the marketer, the designer, and the administrator, a one-woman business band? How can you maximize your reach, market yourself, and cultivate your business in an effective, timely way? Luckily, social media platforms (Facebook, Instagram, Google analytics, Twitter) and their measurement systems have provided a relief in this entrepreneurial scenario, giving easy insights into potential target markets, post performance, reach, follower growth, and more. This technological milestone in marketing has allowed small business owners to reach a wider audience, gauge the success or failure of digital campaigns, and have a wide-angle view of potential consumers. The ease and availability of social metrics in these realms have also made it possible for individuals to pursue their areas of interest, making careers out of things they love to do. Nancy Silverman, a Toronto-based yoga instructor and Kombucha expert, did just that.
Worldwide, many people were shocked by the outcome of the U.S. presidential election of 2016. It’s been just over one full year since Trump’s electoral win and, although the race between Trump and Clinton was close, many of the electoral polls forecasted Clinton as the likely winner of the 2016 election (Perez, 2016). While the outcome of said election left many data scientists confused, many social media analytics firms are claiming that their measurements would have been a much better predictor (Perez, 2016).
Understanding the ways social media works for a business is so much more complex than simply considering a post’s “likes” or clicks. As the importance of social media in our lives becomes increasingly clear, it’s no secret that the most successful companies out there are the ones that properly align their business objectives with their social media tactics. The influence social media has on customers is endless, from impacting sales to increased customer satisfaction, so it’s no wonder, then, that those companies who fail to include social media metrics as part of their objectives find themselves falling behind.
Graduate business school recruiting is a high-stakes game, considering students may easily pay $100,000+ for an executive MBA program. And with 6,000 business programs around the world vying for top candidates, higher ed marketers need every advantage to reach prospects. Until fairly recently, marketers have concentrated on email campaigns to generate leads among known prospects – a hit-and-miss strategy since many prospects either don’t share their email address or don’t open the messages they receive. Social media has provided business schools with new ways to reach potential candidates. According to GMAC’s 2016 mba.com Prospective Students Survey Report, 96% of prospective students use social media and 67% use it to learn about graduate education opportunities. LinkedIn is proving to be marketers’ digital platform of choice for reaching high-quality candidates. With its emphasis on professional connections and career advancement, it’s a natural gathering place for those who might be most interested in prestigious business programs. In addition, a recent study showed that for half of the respondents “friends, family and peers were most influential when considering further education — second only to the institution’s website. And professional networks were twice as influential as personal social networks.” And as candidates look to their LinkedIn connections for guidance, marketers are able to engage prospective students through relevant content and gradually encourage them to move through the enrolment funnel.
Sun Life Financial runs many social media campaigns and uses many different methods to track their efficacy with social media metrics. The purposes of their campaigns ranges from creating brand awareness, having people consider one of Sun Life’s products or services, or conversion. Conversion would mean that a client has taken an action such as: set up a meeting with an advisor or downloaded an app. (A. Guselle, personal communication, November 13, 2017) By using the tools at their disposal, such as the analytics that are available within the social media platforms, Sun Life is able to demonstrate how the social media team is reaching their goals.
The hashtag is not a new trend on social media anymore. However, if you’re new to the social world hashtags are something to get familiar with. You may think the pound sign (#) is only meant to be used when you check your voicemail, but it actually has a completely different meaning when it comes to social media: meet the hashtag. (MacDonald, 2017) Hashtags play a crucial role in developing interest in your social media accounts and are used on a number of social media platforms, most commonly, Twitter and Instagram. Including a hashtag with your posts helps to categorize content for your audience. From a user perspective, hashtags allow people to find posts that are relevant to their interests and interact with other social media users who share those interests by joining the conversation about hashtag XY. From a business perspective, it is your chance to be noticed in such conversation and establish your company as a voice for certain topics. Knowing where, why, and how to hashtag can change your social media game and presence tremendously. (MacDonald, 2017) Using a third party platform called Keyhole can do just that.
It has been through world wars and countless other global conflicts, and survived depressions and recessions along the way. Through it all, the Globe and Mail has faithfully delivered the news to Canadians since 1844. But with the advent of the World Wide Web in the 1990s, traditional newspapers like the Globe suddenly faced the prospect of a world of information they didn’t directly control. Instead, it was now the readers who began to choose how, where and when they consumed the news. And it became clear fairly quickly that readers were shunning print-based publications for news served up on a digital platter. In fact, between 2000 and 2015 alone, print newspaper advertising revenue fell from about $60 billion to about $20 billion, wiping out the gains of the previous 50 years. The digitization of the news threatened the very existence of venerable newspapers around the world, including the Globe. While not without its digital scars, the Globe today is enjoying a resurgence of sorts. It is thriving with its online content delivery and it’s using the rich data provided by social media metrics to help shape its content and brand strategies.
Benefits of using Social Media Before taking a dive into Social Media channels such as Facebook, Twitter, and YouTube, businesses should create a Social Media strategy that begins by defining who their target audience is. Businesses that do not do their due diligence in creating a strategy will not be successful if they rush to set-up profiles and post without knowing their targets and what channels to use to reach their audience. According to a report published by Texas Tech University, brands who engage on social media will improve brand loyalty and businesses should use all tools that Social Media offers when connecting to their audience. For teenagers Twitter and Instagram are the most used tools in Social Media. Social Media is a great Marketing digital tool that can revolutionize outreach, visibility and marketing initiatives for small and large businesses and not too many companies are using it. Companies need to learn how to gauge how their Social Media tactics are performing and how to measure this. Currently big and small businesses are realizing the huge benefits of Social Media and its increasing importance in the race to stay relevant and attract new customers. Prior to the age of Social Media, many years ago “the Secretary” was the first point of contact between companies and customers; today that role is replaced by websites and the Social Media revolution. 2014 FIFA World Cup™ FIFA awarded Brazil to be the host of the 20th FIFA World Cup™ on October 30, 2007, as a global event the preparation of a FIFA World Cup™ began many years before the tournament, some of the key topics that a host country must review are, infrastructure of the stadiums, transportation, logistics of the event, and to create a brand. FIFA’s Social Media Explosion In order to provide a worry free web user experience of the World’s greatest sporting event to a demanding, global digital World Cup audience FIFA created a Global Stadium. FIFA’s key scope was to increase global audience, reach and enhance engagement of all FIFA’s platforms, using FIFA.com. Global stadium a revolutionary and innovative live social internet hub that is available throughout tournaments at FIFA.com and FIFA App. Fans were able to get closer to the action during Brazil 2014. The Global Stadium provided a singular destination to FIFA fans and created a great reach across the planet. With Billons of hits on Social Media Channels generated… Read more »
Social Media Metrics? TechTarget defines Social Media Metrics as “the use of data to gauge the impact of social media activity on a company’s revenue”. The main goal of social media metrics is to determine the impact of social media on a company’s goals. There are many social media metric tools available now but which ones should you use? And when you use them do you know what they are used for? What are they measuring? How do they impact your company? I have discovered these questions to be quite confusing and I end up feeling unsure of even where to start when I think of measuring social media efforts.
HubSpot is a developer and marketer of software products for inbound marketing and sales. It was founded by Brian Halligan and Dharmesh Shah in 2006 HubSpot offers a full stack of software for marketing, sales, and customer success, with a completely free CRM at its core. They’re powerful alone — but even better when used together (hubspot.com)
We all have a story to tell. It could be one of personal hope, sacrifice, mentorship or despair. Others could be told from numbers or raw data – the stuff that drives work and project results. As social media becomes a more popular medium of communication and an avenue for influence and story telling, it’s the metrics that tell a bigger story and help to validate the hard work of a communications department.
CordCruncher: It’s simple, it’s easy, it makes sense! CordCruncher is a tangle free technology to all types of cords. Products in their line include Tangle-Free Earbuds and Tangle-Free USB Chargers. In partnership with Mel B, celebrity from the former girl pop group Spice Girls, the following video explains more about the product and how their revolutionary technology works. CordCruncher knows the importance of social media and measuring metrics. According to Aaron of Loyalty Solutions Digital Solutions Inc , third party digital service provider for CordCruncher, “measuring social media metrics of what was working and what didn’t work is important to understand customer’s behaviors”.
When I first started this course, I admittedly knew absolutely nothing about how to derive true value from social media. I knew it was valuable, I knew there were tonnes of organizations profiting from using it, I just didn’t know where to look or what I was looking for. I’m generally a pretty practical person – I want to know how and why A + B = C. As a result, this article is essentially me interpreting what I learned during my foray into social media metrics. Social media has, as we are discovering, infinite possibilities and uses. The ability to connect online to wide audiences, garner feedback, share offerings and information, and observe trends are just a few of the important ways social media is changing the face of business. Despite all of these incredibly beneficial uses, some businesses and people still have trouble seeing the true value. These people are “numbers” people – they want to see the pudding. They need to know exactly how the money and time they are investing in an endeavour are turning into profit – completely understandable in the context of running a successful business. So how does one turn something so vast and infinite into something that is measurable and valuable? There are some important measurements to be mindful of called Social Media Metrics.
If there was a brand that is strikingly representational of the success of the millennial generation, through being an entrepreneur, believing in community, authentic conversation, and utilizing social media to create an industry leading company, Glossier by Emily Weiss fits that bill. The company was cultivated in a very “millennial entrepreneur” manner, and the use of social media metrics has been a critical component in helping to develop and build a successful platform to reach and engage their community across a multitude of platforms (Milnes, 2017). How companies use social media to engage their customers, product users and community in this day and age can be make it or break it; or at any rate, have a huge impact on their relevancy in the market and their industry. It is well discussed by course material for the Social Media for Business Performance at the University of Waterloo, of the use of social media in relation to an organization’s goals: “The starting point for all metrics is the goals of the organization. The metrics that are identified for each area of the organization should stem from these goals. Your social media metrics should be carefully aligned with your organizational goals, driving social media behaviour that will contribute to these goals’ achievement.”
Nowadays online video content is a big part of social media. According to Cisco Forecast video will represent 80% of all consumer-based Internet traffic by 2019. So there is no surprise that businesses spend more money on video advertisement. According to Business Insider video will account for 41% of total desktop display-related spending in 2020. The two top platforms for video advertisement are Youtube and Facebook. In January 2016, Facebook announced that people watch 100 million of hours of video a day. In February 2016, Google’s CEO reminded its investors that Youtube users watch hundreds of millions of hours of video a day. It was indirectly pointed out that Youtube users watch more videos than Facebook users. So what is the difference between Youtube and Facebook?
Budget Marine is the Caribbean’s leading marine chandlery with retail locations throughout the Caribbean. Budget Marine has an active marketing presence via their website, Facebook page, newsletters, email blasts and ads on affiliate websites. While big in the Caribbean, Budget Marine is relatively small in terms of human resources. There is one department, called Group Services, located in St. Maarten, which provides marketing support to all locations throughout the region.
Social Media has played an important role in the growth of modern businesses. Due to the massive shift in global digitization, companies have been arming themselves with teams of people who monitor social channels, the performance of their brand and ROI of advertising dollars across channels such as Instagram, Facebook, LinkedIn, Google+, Pinerest and more. With 700 million active daily users, Instagram alone, combined with the exponential growth of other social channels, continues to be a draw for consumers and businesses alike. Since social media channels provide this convergence of consumers and brands, it makes it quite easy for marketers to start to collect data on the habits of consumers and serve up relevant and engaging content. Sometimes referred to as KPI’s or Key Performance Indicators, this data has mostly been used for reactive purposes. This type of data can help marketers and product developers understand what specifically drives customer engagement. Questions frequently ask include, was it a picture that was shared and was it a piece of literature sharing key information that served an audience. Listening to what consumers want and serving them up when they want it is a great way to connect and build brand awareness and ultimately help grow the business. Monitoring the positives does not go without measuring the negatives or the “risks” to achieving business objectives. Social Media KRI’s can also be very helpful in understanding how to quickly adjust based on operational, financial, strategic, and regulatory risks. This significantly can improve how a business weathers a storm as well.
Any organization, despite the industry, is tracking metrics day in and day out. These metrics play a significant role in the organizations overall performance, and every organization tracks and monitor some type of performance metric, these areas could include: sales, finance, social media, marketing, lead generation, consumer data, and the list goes on. These metrics are vital for the organization to improve in those areas and their overall performance and can also be used to increase customer satisfaction, customer retention, revenue and employee performance. Without metrics, these organizations would be left without key consumer data, have a challenging time marketing their products or services, understanding their consumers, tracking sales and revenue, and their research and development would slow down tremendously. Metrics support and improve the overall performance of organizations, that is why Metroland Media remains one of the media industry leaders in Canada, due to their strong metric management.
The goals of any organization should be where the metrics for social media begin. Social media behaviour should contribute and align with these goals in order to achieve online success and ultimately drive sales. Tripcentral.ca is a hybrid brick-and-mortar/online travel agency based out of Hamilton, Ontario. While many agencies are trying to stay afloat, Tripcentral.ca is still growing. They just opened a new storefront location earlier this month! Their Mission statement is “to make the best planning, booking, and travel experience for our customers by matching their changing needs, providing advice, and saving them time.” They have spent a lot of time and money building proprietary software for their online presence so they can do just that. They have a regular blog with excellent advice and suggestions for improved travel experiences. They have a Facebook page with a 4.8 star review rating that they typically respond to within an hour. But how do they measure their online presence? How do they qualify the worth of their social media efforts?
How would a museum know if it is successful? How would it measure success? The Mission Statement of the Metropolitan Museum of Art (“The Met”), founded on April 13, 1870, and the largest museum in the US, states, “to be located in the City of New York, for the purpose of establishing and maintaining in said city a Museum and library of art, of encouraging and developing the study of the fine arts, and the application of arts to manufacture and practical life, of advancing the general knowledge of kindred subjects, and, to that end, of furnishing popular instruction”. . Daniel Weiss, president and chief operating officer of The Met, believes museums must remain relevant to a contemporary audience while upholding a mission to preserve human culture for posterity. In an interview with Yale Insights, Weiss articulated the challenges of steering America’s largest art institution, “We have to change with the times but not so much so that we lose our way … if no one is interested in our programs, then they are not meaningful programs.” . Part of the challenge managing a cultural legacy like The Met is its non-profit structure. From its 2016 Annual Report , philanthropic contributions have endowed the museum with about $2.5 billion. The building is owned by the City of New York (NYC), but the collections are owned by a private corporation, totalling about 950 persons. The City approved a pay-what-you-wish  admissions’ fee back in 1970 ($25 per visitor is recommended but a penny would comply with the City’s policy) which contributed only about 13% of 2016 revenue. However, The Met’s operating budget is about $250 million per year. Its use of performance metrics (measuring overall attendance, the number of museum members, the marketability of exhibits, the percentage of the collection on display, the ratio of adult to child admissions, etc.) are not used to plan for an increase in ROI; instead, they are used to measure its kinds of connections with the public. “Museums create social values, for which they are not compensated in monetary terms.” . The Met is deeply integrated within the life of New York City, its donors, and the art world. It plays a substantial role in New Yorkers’ leisure activities and is one of NYC’s most important tourist attractions. As visitors have a strong effect on local economies, especially in touristic locations, The Met monitors the number… Read more »
Ask numerous administrators, interested students or any one of my 3 sons, what their notion of success may be and you will rarely hear the same response. Defining success has always been a good way to begin thinking about any strategic plan or goals you may have in mind. Certainly today, no plan can seemingly work without some supportive data. In fact, metrics, analytics, data are the great tools employed these days to suggest that elusive notion of success. My brief is observing and teaching media and this week, the topic is about metrics in documentary film, specifically Impact films. It was once commerce vs art, now its metrics vs art Art vs commerce now appears to have become art sustained by metrics. The same old issues of independence and individual expression still abound. There is also that above elusive issue of defining success, in this case, Impact Producing success and the need to for reliable measurement of a documentary film maker goals so as to attract philanthropic organizational funding. What data should you employ? What data is accepted as truth? More importantly, who gets to choose the information variables that define success in your world; the metrics that justify investment and interest in a concept or idea. The Documentary film genre remains important today because for millions of consumers, it continues to define and reflect the society we inhabit. It is the continuing commentary on the good and bad in our world. It is the experience that awakens our environmental awareness “An Inconvenient Truth” “Here is an art based on photographs, in which one factor is always, or nearly always, a thing observed”. Lovell Hilliers Studies in Documentary Cinema One 1972 Documentaries in the past were usually deemed “successful” by tabulating the traditional box office methods of counting viewers: “an eyeballs or bums in seats” method, as well as calculation of sales or acquisition numbers. Something like the description immediately below. You make a beautiful, poignant documentary. It premieres at an A-list festival like Sundance, and gets picked up by a major distributor. It debuts in theaters, on television, on Netflix. Millions of people see it. Millions are moved by it. You might, like Laura Poitras, even score an Oscar. Britdoc founder and Impact film making pioneer Beadie Finzi says that a very, very small number of movies actually follow such a trajectory”. But in recent years, the documentary… Read more »
It is a fact of the internet that every click, every view and every sign-up is recorded somewhere, Depending on your view, this is either very creepy or fantastically interesting,You might be sharing a video here or there to YouTube or some photos to Instagram. And you could be regularly posting to Facebook and Twitter, But if you’re not measuring how those social networks are working for you, And you’re not testing different methods to measure your results, You could be wasting valuable time. “Clear interface, very easy to use. Everything you need to start your social media management and monitoring.” DONATAS BUBINAS,CEO, Velvet. Depending on today’s business, Everyone should take the advantage of using the social media as you need to jump on that bandwagon,So you have to make sure that you are keeping an eye on the social media metrics where you can track and close the loop on your sale.
BuzzFeed is social news and entertainment firm that focuses on digital media and digital technology to provide “the most shareable breaking news, original report and videos. This all American Media company based in NYC, was founded in 2006 as a viral lab, focusing on tracking viral content. Jonah Peretti, CEO of BuzzFeed, hired the company’s first data scientist in 2010, to predict how articles would go viral on the internet. Although Buzzfeed has advanced and now their canvas covers news, politics, business, tech, entertainment, food, international coverage and much more, reaching over 150 million unique visitors a month, they still think about the same question today. What is the best way to track content?
I am pretty sure you, who is reading this blog have somehow an account in one of the leading social media platforms otherwise you wouldn’t be able to read through this! Almost most of us as social media users value the number of the people who follow us, “Like ” our post or pictures, comment on the events we share or even share our post with their connections or followers. All of the above are illustrations which show how well our posts are accepted by our connections. Clearly, one of the main porpuses of using the Social Media these days as one of the most impactful ways of communicating is to share information in a different fashion and get feedback from people within our circle of connection rapidly.
DoSomething.org is one of the largest global organizations for young people and social change. They mobilize their members “to make the world suck less” by by participating in campaigns impacting causes from poverty to violence to the environment.