I was a panelist on the IAB Social Media Conference’s measurement panel, where we discussed a lot about social media’s’scorecard’. Bryan Wiener, CEO at 360i, moderated the discussion. He was joined by Keith Kilpatrick, Buzzlogic’s Jonathan Carson, and Liza Hausman, of Gigya. All of us agreed that the discussion should be practical and useful.
The social media scorecard was vividly colored, and its simplicity is overwhelming. It would be something that marketers and agencies could easily carry around and use to evaluate the effectiveness and efficiency social media channels within an upfront media mix. It sounds simple, right?
Facilitating quality conversations (rated on a ten-point scale) with my customers? Check. Have a pass-along value that encourages influencers about my core brand message and directly relates to product sales. Check. These are the fundamental elements of virality that will spread like wildfire across cyberspace. Check. You have full control over my brand. Double-check.
Scores and scorecards are a huge part of my life. How can you tell if your efforts have been effective or if you’re losing or winning? We all agreed that measurement is the cornerstone but we also acknowledged that there is no magic bullet. Particularly in emerging markets where marketers are still trying to decide whether they want to play the game, many are still defining the rules.
Let’s forget about our magic bullets and scorecards for a moment and focus on what we need to do to get started.
3 Useful Points to Consider In Social Media Marketing and Measurement
1 Clarity is the key to your success
Before you dive in to any media, think about what it will take to make the campaign successful. It could be based on how many coupons were downloaded, how many 18-24-year-olds became Facebook fans, CRM signups, brand effectiveness measures, or attitudinal shifts. Whatever it is, it is important to be clear so that you can plan for measuring it and adapting your campaign as needed.
2 Keep measurement simple and easy
Separate quality and quantity questions to break down the equation. Quantity is easy. First, determine how many people you want, then calculate how many of them you reached after the campaign. These metrics should be smm panel cheapest as easy to understand as possible. If they are similar to other aspects of your campaign, it is more likely that they will be accepted and tangible. Frequency and reach metrics will not disappear anytime soon.
You can be more creative with the quality question. This is where you can get ‘engagement’ or tie in your KPIs from (1) to your web program. You are creating a track record for your brand and proving that social media marketing is a smart choice. These metrics can vary depending on your success indicators. They could include ‘branding’ metrics (e.g. These metrics can be measured using comScore’s Brand Metrix studies, all the way up to the lift in offline buying
3: Control is not the point; listening is
This is a frightening premise, we all know it. Even the most precise choreography, clarity and execution can’t guarantee complete control of a social media campaign. Let’s pretend for a second that we can forget our doubts about letting go of control and communicating, and instead focus on being heard. Attention is a precious commodity. What is the value of this? How can it be beneficial and how do you adjust your listening skills when necessary?
This value proposition is also the tradeoff. It is often one-to-many. Pay attention to the positive. React quickly to the good and even faster to the bad. Instead of trying to stop the conversation, you should allow it. You are already being talked about by people, so it’s a good idea to get in the weeds and find out what’s happening.