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The trend of assigning a single score to a digital marketing value continues. Today, Chicago-based social engagement platform Earshot is joining the movement with its own social relevancy score. Called the Decibel Level, it is a measurement of whether a person is a good prospect for a sale or other conversion in a given brand campaign.... 
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As social networks have exploded in their use as a critical marketing and PR channel for businesses of all size, so have increased the importance of measuring all this effort more effectively. Apart from apprising you of the success of your strategies, measurement also gives you very critical insights about your customers and competitors. As you go on investing in social media channels, it is these actionable insights, which give you a return on your dollar. However, the measurement of social media is not as standardized as it should be. This is mainly because of the evolving nature of social networks itself. This non-standardization also means that you will be flooded with advice and opinions about how to measure social media. This leads to some critical mistakes, which can jeopardize accuracy of your results. This in turn will lead to dismissal of social media as an effective channel in business strategy! But we all know importance of social media as well as measurement, so let us see the most common mistakes which are committed while measuring social media....
Jeff Domansky's insight:
Here's how to measure what matters.
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Social media ROI is a messy business. How do you bring some order to it? There’s no getting away from it. The higher up the sales funnel, the harder and messier it is to make decisions on measuring ROI. Social media is, like any channel (if you choose to view it as one) not perfect to measure, though far from hard to get a good handle on it, and to compare channels with channels using techniques like Google’s Multichannel funnels or social reports. It’s the scale of choices that become complex. It’s much easier to post rationalise and retrospectively connect the dots, but not easy to plan for it – otherwise why is ‘viral’ still so remarkable in social media – and why we don’t see the experts doing amazing campaigns repeatedly. It’s always been a challenge, attributing the value of visitors through multiple channels, social media has made that more complex. Certainly when compared to lower down the funnel the touchpoints are more measured and explicit, visitor-to-goal completion is relatively simple to monitor and quantify.IAB suggests 3:1 return on social media investment... The research revealed that, four out of five consumers said they would be more inclined to buy a brand more often in the future after being exposed to a brand’s social media presence, while 83% of consumers exposed to social media would trial a brand’s product. ...
Jeff Domansky's insight:
This is a really excellent post that looks at the best way to measure ROI on social media, why a new model may be more helpful and some tips on how to measure more effectively.
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...On the one hand, stakeholders need to know what they are getting out of social media, but on the other, we can’t allow either the analysts or the critics to mislead our clients, because at the very least, it makes everyone’s job harder and doesn’t move marketing forward. This is something I call bromarketing – a variation of the broscience that is popular in the weight lifting space. Bring in the experts!BlitzLocal CEO Dennis Yu, genius marketer Ian Lurie, EdgeRank expert Chad Wittman, Social Nerdia founder & Sprinklr director and strategist Esteban Contreras, and awesome marketing podcast host and consultant Bob Knorpp were kind enough to help me look at measuring and valuing social media based on their experience and knowledge....
Jeff Domansky's insight:
Great insight into how you can reliably measure social media from this panel of experts....
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In social media we have no shortage of data; our key challenge is to understand the data and to create insights that will help us improve what we do. Generating actionable insights from social data has been the core focus of the Zuum team. This week in the SMToolbox, we take a look at their tool and how Zuum's reports and analytics can benefit social media marketers. Zuum bills itself as a social content strategy tool; in essence, it is a social analytics tool, but with a difference. The Zuum team are really focused on helping you to understand what causes things to happen in the social world. Thus, if you see a spike in engagement or rapid growth in followers, Zuum will help you identify what caused these particular changes. Zuum also allows you to compare your company's performance with that of other brands and gain insights that will help you improve your own performance....
Jeff Domansky's insight:
This social media measurement tool is definitely worth a look.
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When it comes to content marketing, your Chief Marketing Officer wants to see real, metrics-driven results. From storytelling to generating thought leadership, facilitating customer engagement and moving prospects through your sales funnel, it’s imperative that you develop a solid analytics strategy to navigate your content marketing maze and measure success. Be sure to pinpoint areas of low engagement so you can make improvements, but also look beyond the numbers to fully understand why performance may be weak. When thinking about virality, look at who made it go viral in the first place and understanding the quality of your audience and those who are reading and sharing your content.Word of mouth is powerful. When people value your services, they are more inclined to make their perspectives known....
Jeff Domansky's insight:
Are you measuring what matters in content marketing? This post had some very valuable tips on how, where and why to measure results that matter in your business and in the executive suite.
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Are you really kicking your social media marketing? For too many folks the answer is: I don’t know And, that’s a problem. Without good social media (Social Media Analytics: How’s Your Social Media Strategy Going?
Jeff Domansky's insight:
If you want social media measurement ideas this is a must-read.
E-Strands Ltd's curator insight,
February 4, 2013 7:33 PM
Are you really kicking your social media marketing? For too many folks the answer is: I don’t know And, that’s a problem. Without good social media (Social Media Analytics: How’s Your Social Media Strategy Going?
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Efforts to promote social profiles, pages, sharing and engagement are meaningless unless they support a path to conversion and help the bottom line. Here’s how Google Analytics Social Reports can help easily quantify your social media endeavors. Via Pekka Puhakka
Jeff Domansky's insight:
Very practical, useful guide to simple social media measurement. A good intro for beginners and a good reminder for the more experienced.
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Interesting new research tool for content and online marketers.