First, we should understand that there is no magic bullet and no definitive set of metrics for social media. It is extremely important to take the time to delineate the social media metrics that best fit your company, because in doing so you are outlining how it is that you are going to measure success. Once that has been accomplished, the way to best tie your social media objectives to that of your business objectives - is to plan. To start, you set a standard or framework. This will help your company set its benchmarks from which to measure to see if in fact, you are achieving your goals or not. Professionals would call it as having a “business-focused social measurement strategy” (Etlinger, S., & Li, C., 2011).
In using this concept, your …show more content…
You need to discover what is the result of the action/engagement being taken. A solid metric would be the conversion rate of your Facebook Followers, to how many actually inputted a special online digital coupon promo code you created for those who found your company on Facebook when they went to purchase something. As you can see, just because someone just “Followed” or “Subscribed” to your social media page without the ending result, is not much of a metric at all. So, you need a Social Media Measurement compass that should be aimed at the purpose of achieving a business goal. We get there by using a metric that will evaluate a certain business use. This is both a pro and a con, because as mentioned before, there are no predefined social media metrics that are one size fits all. Being that the needs of one company are not necessarily the same to another. Not being able to follow a cookie cutter solution to some would be a disadvantage or in this case a con. This because now you got to figure out what is going to work to help you achieve your company’s goals. But then the pro-side to this is that, you are not limited to using measurements that are not relevant to what you want to …show more content…
Now that you have that, you can set a path to achieve it by using for example; certain markers like…. Brand Health, Revenue Generation, and Customer Experience among others and measure it using social media. This would-be a pro point, being that you could have instant feedback on how people perceive your new logo or slogan if you were using a Brand Health metric for example. The downside to this is that there are limits to Text Analysis as computers are less able to detect sarcasm. So, for example, two people might say: “that’s a really great logo.” Although you could read the comments by both people, you can’t really tell what they meant. In this example, the first person really meant “that’s a really GREAT logo,” meaning they really enjoyed your company’s new image, in other words a compliment. The second person’s comment was more along the lines of: “that’s a really great logo,” in other words, they really meant to be either nonchalant or sarcastic like – is that the best you can do? Note that there are other cons as well, like Disparate Sources and Inconsistent Datasets (Etlinger, S., & Li, C., 2011). But the thing to think about is, once you have your directional points of your Social Media Measurement Compass in place, your company should have a leg up on the competition by it being able to effectively measure its direction by using social media to get to its intended
In using this concept, your …show more content…
You need to discover what is the result of the action/engagement being taken. A solid metric would be the conversion rate of your Facebook Followers, to how many actually inputted a special online digital coupon promo code you created for those who found your company on Facebook when they went to purchase something. As you can see, just because someone just “Followed” or “Subscribed” to your social media page without the ending result, is not much of a metric at all. So, you need a Social Media Measurement compass that should be aimed at the purpose of achieving a business goal. We get there by using a metric that will evaluate a certain business use. This is both a pro and a con, because as mentioned before, there are no predefined social media metrics that are one size fits all. Being that the needs of one company are not necessarily the same to another. Not being able to follow a cookie cutter solution to some would be a disadvantage or in this case a con. This because now you got to figure out what is going to work to help you achieve your company’s goals. But then the pro-side to this is that, you are not limited to using measurements that are not relevant to what you want to …show more content…
Now that you have that, you can set a path to achieve it by using for example; certain markers like…. Brand Health, Revenue Generation, and Customer Experience among others and measure it using social media. This would-be a pro point, being that you could have instant feedback on how people perceive your new logo or slogan if you were using a Brand Health metric for example. The downside to this is that there are limits to Text Analysis as computers are less able to detect sarcasm. So, for example, two people might say: “that’s a really great logo.” Although you could read the comments by both people, you can’t really tell what they meant. In this example, the first person really meant “that’s a really GREAT logo,” meaning they really enjoyed your company’s new image, in other words a compliment. The second person’s comment was more along the lines of: “that’s a really great logo,” in other words, they really meant to be either nonchalant or sarcastic like – is that the best you can do? Note that there are other cons as well, like Disparate Sources and Inconsistent Datasets (Etlinger, S., & Li, C., 2011). But the thing to think about is, once you have your directional points of your Social Media Measurement Compass in place, your company should have a leg up on the competition by it being able to effectively measure its direction by using social media to get to its intended