Web Analytics provide traditional attributes of page views, unique site visitors, etc.
*not adequate anymore because customers are talking to each other (& much of it is not on your site)
Attributes needing measurement (credit to Jeremiah Owyang, Forrester)
- Attention = time on website (sometimes it's not yours)
- Interaction = Click, Comment, or Embed
Coversation Index: ratio between blog posts and comments+trackbacks
- Velocity * = Distance/Time (Rate of how fast your message is traveling in a given time)
- Jeremiah defines Velocity with examples
- Sentiment * = tone, opinion
- Qualitative * = What did they say?
- Impacts * = What did they do? (influencers)
* Brand Monitoring Solutions - these are helpful with the last four above
Tracking the tone, perception and nuances within online conversations is getting easier. There are a number of solutions available that monitor discussion of your brand online. They offer options to track & create reports on frequency, influence & sentiment.
New places to monitor/measure:
- Social bookmarking sites: Delicious, Magnolia, StumbleUpon, Kaboodle, blinklist, etc
- Aggregators: Digg, Techmeme
- Micromedia: Twitter, Pownce
- Facebook groups, pages, Google & Yahoo groups
- Forums (if password required spyders can't crawl them)
- Competitor's sites
Methodology for finding new communities (listening is imperative)
1. Find the community & participate
2. What tools are they using?
3. What are they talking about?
4. Who are the influencers?
Examples of things you can measure:
1. Using above methodology to find customers & prospective markets
2. Listen, understand the conversation, then participate
- measure the number of conversations
- monitor the percentage increase of conversations over time
3. Measure the reduced buying cycle & reduce support costs my encouraging self-support
4. Increased sales due to increased customer satisfaction in product due to involving them in product development cycle
5. Increased efficiency in developing products due to customer feedback at various stages
6. Minimize brand damage by responding quickly to customer's concerns online
Community Manager's role to listen, participate & track progress
Provide a report on a regular basis
- Ongoing definition of objectives
- Web analytics
- Interaction - Trends in members, topics, discovery of new communities
- Qualititive Quotes - helpful for feedback & marketing
- Recommendations - Based on interactions with the customers
- Benchmark based on previous report
Further reading
All of Jeremiah's posts tagged Social Media Measurement - worth browsing
KDPaine's PR Measurement Blog
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