The Big List Blog
Social media measurement standards: How to demonstrate social media’s value to your organization — Live from the Measurement Pre-Conference
3:52 — Katie asks how many people know that social media measurement standards exist. She shares some background: She doesn’t think the world needs any more metrics or standards but to agree on the ones they have.
3:53 — She calls The Relationship Era as the Bowls of Nuts Era. “I want what I want and not what I don’t.” The weird nuts get left at the bottom.
3:54 — What’s changed? It’s not about the media anymore it’s about the business. It’s time for us to develop some standards, called The Barcelona Principles. It was very broad. It started with “You have to measure social media with goals.”
3:55 — For example, “My Drunk Kitchen” is a spoof cooking show in which million people watch her videos. About 179,000 in comparison view Anderson Cooper. It’s not about media or marketing. The value of your social media program is the amount saved in recruitment. Increase in Mobile shopping on Black Friday was 99.24%. Anyone under the age of 35 switches media every 2.5 minutes.
3:56 — Just because we have social in our title doesn’t mean we have any control over how the social universe works. More Important Numbers to Remember: 40% of conversations are generated by scammers and pay-per-click sites. 90% of conversations happen offline.
3:57 — 10% of online conversations are public. Less than 5% of Facebook and Twitter posts are actually seen.
3:58 — The first lesson in measuring social media is it’s not about you or whatever you do. It is about the business.
3:59 — You may find the value of what you measure in PR, reputation, IR, HR, but it’s only when you look at your company as a whole that you see the value of your social media program.
4:00 — We have to break ourselves out of leaning on just impressions. How are we going to measure this stuff when the media is all merged into our eyeglasses? You’re not going to be able to take credit for that when everything shows up here.
4:01 — Likes are not engagement — but there are no relationships linked to impressions.
4:02 — The idea is to get trials, downloads, when they give you their emails. It’s not about walking down the aisle. It’s about bringing in their family and friends.
4:03 — On average, about .001% of followers engage with the celebrities with tons of followers.
4:04 — Good relationships are more cost effective: (Katie shares stats taken from Bob Garfield’s book “Can’t Buy Me Like”).
4:05 — That means that social is a voucher business. There is not one standard, not everyone has the same thing. It’s a cross-industry collaboration to create social media measurement standards. Tons of organizations, agencies, representatives, and major brands came together to form the “The Coalition” and “The Conclave” to meet.
4:06 — Top Priorities
1. Content Sourcing
2. Reach and Impressions
4. Standards for Engagement
5. Opinions and Advocacy
6. Impact and Value
4:07 — Paid and owned is being well tackled by other people. We’re focused on earned media. Content standards are all bout transparency. Talk to your vendors about where they found their source, ask them to define things in a consistent way.
4:08 — Reach and Impressions: We put together the Digital Analytics Associations standards with our own. Never use multipliers, OTS is not impressions, keep the numbers small, it has to be specific to a specific channel.
4:09 — Standards for Engagement: Should be measured by the percentage of the universe (a percentage of the whole will tell you if your numbers are improving our not.) See the WOMMA standards.
Impact and Value: ROI is an accounting term. Do not use it for anything other than that, You can do a cost-benefit analysis. Start with clearly defined goals and clearly defined audiences.
4:10 — Look at your tools, after you know the answer to the first four steps to compliant measurement.
Q & A:
Q: What happens when you only care about when a certain demographic of people’s mentions are important to you?
A: Katie: Measure how those mentions change over time pulling only from the people you care about.
Q: Are these measurement standards designed for agencies?
A: Katie: We didn’t allow vendors in for the first year, essentially, someone is going to say, “Column inches is not why they hired you.” The problem is AVE you are what you measure. Consider what Rob Ford is doing for Toronto. Think about your goals. That’s where you have to start. Sometimes it’s about starting a spark, sometimes it’s about brand positioning or other measurement goals.
Q: Have you ever looked at measurement from the reverse side, what’s the cost of not doing something?
A: Katie: First, look at how well you did in past situations, how your competition handled crisis.
Katie goes back to her End Game Resources slide: Instead of looking at where you put your resources in terms of what you avoided, look at where you did things right. You can’t automate the conversations that explain why something worked or didn’t work.
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