Social media are increasingly becoming a vital part of the business web marketing mix. The advertising of web-based content on the Internet and social media generates a big amount of data, such as posts or tweets with positive or negative meanings, which are important for marketers.
The creators of such content need to have access to unprecedented information about how their advertising message is received and acted upon. As data gets bigger, more ubiquitous by using emerging mobile computing networks, as well as more social, by posting regularly, businesses need to get optimal evaluation results, regarding the effectiveness of their social media campaigns. For this purpose, monitoring of social media metrics is important for intelligent e-business marketing strategies and effective web brand promotion activities.
Social media interconnect living and interactive organisms beyond the control of any business, making the evaluation, analysis and subsequently the management of social media metrics to be vital for efficient web brand marketing. Social media monitoring tools have to evaluate such metrics based on marketing literature, providing to businesses a dashboard with the results for effective web marketing purposes.
Evaluating content delivery in social media is a lot like measuring the impact of advertising message to a vast audience or potential customers. Reach, awareness and frequency are necessary, towards evaluating if the web advertising content was considered remarkable and how many potential customers were intrigued enough to comment on it and pass it along their social friends.
- Reach is related with number of people that had the opportunity to see the brand or the advertising message, having taken an action (viewed or clicked) on the content. It is all about the possibility that the advertising message might be heard through social media.
- Awareness is related with the total number of users know about the company or the products that are advertised through social media.
- Frequency is the number of times that a brand has produced an “opportunity to see” the content by potential customers in a specific time period.
Categories of Social Media Metrics
Social media metrics can be categorized to several sections, including counting metrics, business value metrics, outcome metrics, and foundational measures.
Counting metrics are the most common ones in social media that are widely offered by social platforms, including the number of fans, followers, users, viewers, visitors, subscribers etc.
Business value metrics are useful for managers and directors of the company, including revenue, market share, customer satisfaction etc.
The outcome metrics are important to quantify the effectiveness of social media, making corrections in the marketing strategy after their evaluation. Such metrics are also referred as “Key Performance Indicators” (KPIs) of social media, including reach, velocity, interaction rate, conversion rate, sentiment ratio etc. Outcome metrics can vary according to the business needs, as well as to the type of social media campaign that a business works on. Outcome metrics enable a business to evaluate social media activities from different perspectives, before, during and a after a social media campaign. If outcome metrics are deployed correctly and are monitored over time, benchmarks can be created to evaluate the effectiveness of the campaigns or the effectiveness of the advertising channels that are used.
Finally, foundational measures can be calculated, by using values from outcome metrics and business value metrics, including interaction, engagement, influence, advocates, and impact.
Social media analytics and the evaluation of the related metrics, provided by a monitoring tool, could play a vital role, toward maximizing the web presence of a brand. As social media platforms are increasingly expanded, the data that is generated from them will be further important for everyday business operations.