Making Metrics Matter: The shift from Social Measurement to Analysis for Insight

Oct 17 • Business, Social Media, Sponsored Post • 1985 Views

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The final breakout session from day one of the Spredfast Summit focused on my newest favorite conundrum—data vs. insight. The four-person panel included representatives from Hill Holiday, Houston Methodist Hospital, Whole Foods and Aeropostale.

 

Brad Blake – Hill Holiday

3 Things to Remember about Social

  • New Platforms Emerge (yik yak, ello)
  • Established platforms change
  • Products evolve

 

Hill Holiday did research across all their Facebook accounts within their agency after Facebook changed their algorithm in December 2013. What they saw in subsequent months was that although organic impressions had decreased, engagement rate had gone up. So, while Facbeook had limited the reach of the accounts, it was showing it to people who were more likely to engage.

  • Move away from vanity metrics!
  • Do followers matter?
  • Does engagement matter?
  • Does reach matter?
  • Does any of it matter?

It depends.

 

Jason Lauritzen – Houston Methodist

The most captivating presentation of this session was Jason Lauritzen, Social Media Specialist for Houston Methodist. His point of view was strongly in favor of doing away with vanity metrics and focusing on what C-Level executives want to hear: ROI.

 

Traditional definitions of social media success (reach, impressions, engagement, PTAT, etc.) all have deficiencies. They focus on little else besides the traditional metrics of reach, impressions, and engagement and force you to make inferences off that data.

 

All social metrics share a common goal: increase revenue and decrease cost. ROI, ad spend efficiency (ROI as %), customer service cost savings, value of a saved customer and lead value are all essential to defining success in social.

 

Above all else, defining the social sales funnel and ensuring you can measure every step of it is crucial!

 

Natanya Anderson – Whole Foods

Whole Foods focuses on generating actionable reporting. They dive deep into social data using Spredfast and ask the following questions:

  • What will make the audience receptive? Can we report on it? Is it quantitative?
  • How can we present the data to change the way the stakeholders look at our social efforts?
  • How can we use data-informed content to revisit our roots as a company?

 

David Gallon – Aeropostale

Aeropostale uses social to tune into what their customers are saying, because as a lifestyle brand, they need to know what their customers are saying.

 

How do they do that? By listening to conversations outside their company keywords. What are people who talk about Aeropostale talking about the rest of the time? By tracking what their followers say, they are able to create content specifically for their followers, in real time.

 

For example, Aeropostale discovered that a large percentage of its followers were talking about a vine creator. Aeropostale created an image and made the vine influencer their #MCM (mancrush Monday) and turned him into a product endorser. He now appears in their latest winter lookbook and has become a massive brand ambassador for Aeropostale. In this way, the Aeropostale marketing team truly integrates the evolution of their audience’s lifestyle into all aspects of their lifestyle brand.

 

Splash Media’s team is covering #SFSummit 2014 in Austin, Texas. For more information on the event, follow Spredfast on Twitter. Rob Howe, Splash Media’s Associate Director of Strategy, is on site in Austin. Tweet him here.

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This post is sponsored by Splash Media

 

 

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