Distinguished & Award Winning Global Publisher in 4. I'm Judging You. By Luvvie Ajayi Comedian, activist, and hugely popular culture blogger at Awesomely. Luvvie. com, Luvvie Ajayi, serves up.. ![]() Conversation, Amplification, Applause, Economic Value. I am going to break one of my unspoken cardinal rules: Only write about real problems and measurement that is actually possible in the real world. I am going to break the second part of the rule. I am going to define a way for you to think about measuring social media, and you can't actually easily measure what I am going to recommend. Most of us have no idea how to participate optimally in this unique channel – we are doing TV on Twitter (breaks my heart). The impact on the data side of the ecosystem is that massive amounts of data is being generated and much of what goes for measurement in . We have IT- minded people engaging in massive data puking (one report with 3.
Got a call from 866-224-9824? Find out who and why called you from this phone number. Jordan Belfort Straight Line Selling System Free mp3 Interview Download. As I am curremtly reading Victor Schwab’s book How to write a Good Advertisement I would highly recommend adding these headlines to a person’s swipe file. They are the same ones he discusses in his book which I am finding. Seth Godin (Mount Vernon, 10 luglio 1960)Marketing- minded people who are using lousy measures of success (! Use data to incentivise our companies to do the right thing by measuring what matters, what makes this channel so unique. No more embarrassing your brand on Twitter, Facebook, Google Plus, You. Tube. And we build out a loyal cadre of followers / friends / subscribers to boot! So what actually matters in Social Media? Not the number of Friends / Followers / Subscribers. Not the number of posts / tweets. Not the ridiculous Followers to Following ratio. Did you deliver delight? Did you cause people to want to share? Did you initiate a discussion? Did you cause people to take an action? Did your participation deliver economic value? The ? Businesses as in Red Bull and T- Mobile and Johnson & Johnson. Brands (all of the aforementioned plus. If you don't fall into those two categories then this social media measurement framework might not apply to you. I'm proposing four distinct social media metrics we should measure, (and this is so cool) independent of the social channel you participate in. Excited? Conversation Rate. When I say most brands do TV on social media what I mean is that we do the same uninformed shouting and pimping on social media that we do on TV. We know little about who is on the other end of the TV set and the medium places limits to what we can do. So to make our marketing more efficient we shout more loudly, more frequently! We don't have to do that. We can get a very good sense for who is following / friending / subscribing to us. We can measure if what we are saying connects to them (in near real time!). And unlike all others, this channel has the word social in it! Social as in talk and listen and discuss. So why not measure that? Conversation Rate = # of Audience Comments (or Replies) Per Post. One beautiful thing. You. Tube. What to do with it? A high conversation rate requires a deeper understanding of who your audience is, what your brand attributes are, what you are good at, what value you can add to your followers and the ecosystem you participate in. That is why I love this metric. It forces you to do the right thing right away. And it is a lot of work. So aim for a higher Conversation Rate. Build your own watering hole in the digital universe. Have meaningful conversations with your audience. That's Marketing money just can't buy. You can always be provocative, say silly things and get a high Conversation Rate. Pick Sarah Palin for your topic. But across channels there does not seem to be an option. This is where I need your help. Do you know of a tool that measures conversation Rate easily as defined above across the main social media channels? Please share via comments and I'll add it here. Thanks! Up next, our second delightful metric. Amplification Rate. Every channel has inherent limitations, often exhibited by the number of ads you can buy. On Google (paid search), on Facebook (display ads), on Radio (audio ads), and all other channels you can think of. But social media has a profound advantage you can tap into. Not only do you have a network, but every node in your network has a network of its own! If you follow my advice and post something . I have, as of today, 5. Twitter and around 1. Google Plus. Even if every single person who follows me reads every single thing I write, I can at most reach 5. Twitter. But the size of my second level network (the unique people who follow the people who follow me) is 6. Understand times and geo locations and topics and things. Then do more of the type that increase amplification. You'll get more sharing and spreading of your content. But this is very, very important: You'll be giving your audience content they consider to be of such incredible value that they want to share it (and hence you'll know what your audience wants / loves). Oh, oh, oh and. Individually you can, see image above, pull out Excel and make magic! Do you know of a tool that precisely measures Amplification across all channels as defined above? Please let me know via comments, and I'll add it here. Now on to a metric that had us at . Applause Rate. I'm sure you've noticed my secret evil plan to force you to understand your audience (and not just pimp your agenda in Social Media). One powerful, more immediate way, to understand them is to measure Applause. One Twitter: Applause Rate = # of Favorite Clicks Per Post. On Facebook: Applause Rate = # of Likes Per Post. On Google Plus: Applause Rate = # of +1s Per Post. On a Blog, You. Tube: Applause Rate = # of +1s and Likes Per Post (or video)What to do with it? Simple. You get a much deeper understanding of what your audience likes so much that it will +1 your content (or contribution) and allow for that to be then shown to others in their social graph. And consider this. That's reassuring to your social graph, and it is great for me because your endorsement makes this post stand out over others and I get a relevant visitor/customer. Sweet, right? Your selfless social media contribution comes back to assist you in driving valuable business outcomes. That's why you measure Applause. It matters in ways you can't imagine! How to measure it? Individually the numbers are available in most tools. Easy to find in Google+ (see example in the end). For Facebook the number is included in Facebook Insights, though it is not available as easily in a simple way (at least not as expansively as outlined above). For Twitter, sadly I could not find it anywhere (inside Twitter or other tools). So help me. Do you use a tool that will allow us to measure Applause Rate? Please share via comments. Finally the metric any company leader will adore. Economic Value. I am smiling. I know that the long time readers of my blog would know that I would never let you get away without measuring hard business bottom- line impact of any digital effort! It is foolish to believe that just Conversation Rate, Amplification Rate, Applause Rate will get you the eternal love and gratification (and perhaps budget!) of your company's leadership. Yes they care a little bit about this . I cannot stress that enough. If that is your primary objective you are going to suck at it (and the above metrics will reflect very efficiently how much you suck). But. A small percent of the people in your company / brand's social graph will come to your main digital outpost (usually your company website) and choose to do business with you. Some of them will buy something, others will sign up for your email marketing list, others still will order a catalog or write reviews for products on your site or sign up as an affiliate or create wish lists or marriage registries or phone your call center to order something or. Macro and Micro Conversions! And you know what you can do with macro and micro conversions? You can measure Economic Value! On all social media channels: Economic Value = Sum of Short and Long Term Revenue and Cost Savings. Social media participation, done right, adds value to the company's bottom- line. Some of it can't be computed. But some of it can be and it is your job, nay duty (!), to quantify that. It is not very hard to do. Read the two posts immediately above. They share very specific guidance for businesses of different types (B2. B, B2. C, A2. K) about how to identify the macro and micro conversions and then compute economic value. What to do with it? Those of you who have been at one of my recent keynotes have seen this slide: Your job is to identify that blue arrow, and the orange box (what it stands for and what the amount is). It is not very hard, just takes a little patience and imagination. And here is the incredible, amazing, magical thing. Once you have your highest level segmented view of the acquisition strategy, above, you can in two seconds segment down to individual channels you participate in. Your view will look something like the one below, from Google Analytics: I can focus on the Per Visit Goal Value (economic value delivered by visitors from social media channels across my macro and micro conversions – note the 0% in the macro conversions column, ouch!) for each channel. Stumble. Upon rocks ($1. Twitter takes the next spot (around $0. Facebook ($0. 2. 6, clearly not a winner for me). Now, not only can I tell my CEO what the small amount of direct value added to the business is, I can also report to her/him exactly which channels are contributing how much. You can't be in every social channel that pops up. The above data can give you guidance on where to be. You do Economic Value and you will never, ever have to beg for investment in Social Media, and your career will get on the fast track. I promise. And just to repeat one more time. A vast majority of value your business / brand gets from social media will be owning your message, building the watering hole I've mentioned, having a direct relationship with your customers and so much more. But showing some direct economic value will get you permission to do more of that. Without it you are just another . Provides a lifetime of joy. Four Metrics That Rock. Conversation Rate. Four simple measures that get you to focus on the right thing from a social media participation perspective, help you understand how well you are doing at it, and quantify the business impact.
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