December 14, 2010

Getting started with social media metrics

How to measure the impact of your online and social media programs

Target audience: Nonprofits, cause organizations, NGOs, foundations, businesses, Web publishers, educators, individuals. In this series:
How to measure your nonprofit’s social media success
14 free tools to measure your social influence
Guide to social media metrics (main page)

JD LasicaMention metrics or analytics to folks in the social change sector, and more often than not you’ll be met with a frozen stare, or perhaps a comment about website traffic. “Numbers guys” aren’t usually the people leading the charge on behalf of social causes. But the funders and foundations holding the purse strings at many nonprofits are increasingly asking for hard evidence: Are you moving the needle? Prove it!

Sooner or later, every decision-maker connected with a nonprofit or cause campaign will learn to heed the mantra of smart businesses: If it’s worth doing, it’s worth measuring. “If you can’t measure it,” adds management adviser Peter Drucker, “you can’t manage it.”

How do you get started with metrics and analytics? Can social media be measured? Think of metrics not as numbers on a spreadsheet but as one key component of your organization’s story. You might set up your online program this way:

  • Monitor the community’s conversation about your organization or cause.
  • Set short-term and mid-term goals that map to your strategic mission.
  • Create and track metrics to assess your progress.
  • Incorporate learnings from your monitoring and metrics into your operation.

Different flavors of metrics

There’s a lot of confusion about what metrics means in the online arena, so let’s begin by outlining the different varieties of online metrics so we’re clear on our terms.

During last year’s Traveling Geeks trip to London, I asked Jim Sterne, chair­man of the Web Ana­lyt­ics Asso­ci­a­tion and chair of the eMetrics Marketing Optimization Summit, to explain the different flavors of metrics. In the short video above, he broke it down into these main buckets:

1Website ratings: How is your website faring overall? How does it compare with the most popular sites in your sector? To measure how you’re doing, look to free services like Compete and Alexa (or, less likely for nonprofits, paid services such as comScore, Nielsen//NetRatings or Hitwise). To improve how you’re doing in the search results — and the resulting increase in traffic — use SEO (see articles on this topic below).

2Advertising: If your site runs ads, the online advertising industry needs to know how many ads are being served and whether they’re being clicked on. Doubleclick is the giant of the field; the Atlas Network, 24/7 Real Media and Right Media are other players. Unless you’re focused on monetizing your site, don’t worry too much about this for now.

3Web analytics: You’re likely familiar with the idea of Web analytics, the process of analyzing the behavior of visitors to a website. Often you can tease out behavior about users’ behavior: Are they arriving on the landing pages you want? Do they bounce off — arrive and go no further? How many are being converted into newsletter subscribers? What’s their demographic and behavioral makeup, and how satisfied are they with their experience? Again, a host of companies ply these waters — including StatCounter, Omniture, WebTrends and CoreMetrics — but most nonprofits and small businesses can get by nicely by examining reports from Google Analytics (which you’ve surely installed on your site or blog by now, yes?) and then taking corrective action.

metrics by Bludgeoner86 on FlickrUp until recently, that was the extent of online metrics. But the explosion in social media and social networking sites requires a fourth bucket, which Sterne alluded to:

4Social media metrics: Increasingly critical to your organization’s success, social media metrics refers to the kinds of measurements that can take place on the social Web. Beyond traditional metrics like traffic and return visits to your website, social media metrics (also called social influence metrics or social marketing metrics) takes into account this simple fact: Most people are talking about your brands in all sorts of venues — social networks, blogs, forums, YouTube — well beyond your organization’s site. How often are they discussing your organization, brand or campaign? Are they saying positive or negative things? What’s the level of customer or user satisfaction over time? Continue reading

September 24, 2010

Social media ROI: The metrics and strategies

WWT 2010: Social Media ROI
View more presentations from womenwhotech.

Guest post by Ryann Miller
frogloop

Ryann-MillerLast week I attended the Women Who Tech TeleSummit. One of the most anticipated sessions was the session with blogger Beth Kanter and Lauren Varga of Radian6 and moderated by Roz Lemieux of Fission Strategy.

I’ve long admired and respected Beth, and I’m a fan of Radian6, a social media monitoring service. The session covered a lot of ground for a fairly contained topic and I was impressed with the depth and breadth of the presentation. Beth and Lauren discussed both strategy and tools, tips and metrics, leaving little ground uncovered. The focus was around the return on investment: how to think of the value of social media, the things you need before starting any campaign, and how to measure, analyze and sell campaigns. Here’s a recap:

Part I: A guide for your social media adventure

Let’s say you want to get started using social media. Where? How? While this session wasn’t a primer, Beth’s four ‘I’s, plus the discussion on objectives and SMART analysis, are a fantastic starting point.

The philosophy and definition of ROI

Beth’s four ‘I’ terms are a contextual lens through which to look at social media ROI. She said she takes a broader definition of ROI, to include:

  1. Return on Insight: this is about harvesting intelligence about what works and what doesn’t, to apply to the future. Listening, learning and adapting – sometimes called an iterative process – means that you take a longer-term view of the project, that sometimes a culture change within your organization is necessary to make room for reflection, and that you’ll find success and know what it is when you find it. If you find that tweeting about the hard-hitting emotional stuff seems to get the biggest reaction every time, apply this to remaining communications for this medium even if it means going back and changing agreed-upon communication pieces. Beyond that, remember it for future campaigns.
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  3. Return on Interaction: it’s about engagement and relationship building with your audience. The goal is to set people on the ladder of engagement to become donors/members/lovers of your cause. But before you get there, how are they engaging with you? What are they saying? How do they treat your brand? This has to be monitored in order to be evaluated.
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  5. Return on Investment: investment is about value, and measuring the relationship between what you’ve done and what it costs. Some tangible indicators are: fundraised dollars, new activists or email list growth, new volunteers,
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  7. Return on Impact: this is about our big goal – to effect social change. Sometimes impact is different or more than just about investment. If you can use Twitter to stop a company from doing something, or vote for something, while that may be hard to quantify, there is a return on impact.

These four ‘I’s are valuable as a starting point for any organization looking to dive into social media in a concerted way. I’d recommend a discussion around these four ‘I’s by any team about to start a social media campaign, because it’ll help you to be thoughtful and reflective, and therefore more strategic, as you get started and get comfortable with social media metrics and measurement. I think Beth’s underlying point here is: Do this thoughtfully and with goals and guidelines. Continue reading