Match Metrics To Your Strategy – A Focus On Facebook
We have looked at the main success factors in great digital marketing last week, so today we’re going to laser in on one of the social media giants: Facebook. Besides your own website, Facebook is arguably your online shopfront. With this in mind, using Facebook to build customer satisfaction is key but monitoring your performance is just as vital. Facebook – Made to Measure Okay, so you have built up a healthy following and you feel you are engaging your fans well. Regular updates and the odd cat meme? Excellent, but remember that every aspect of your Facebook interaction with fans can be measured to hone your efforts further. One point to note however, is to link these metrics with your Facebook strategy. The basic (and the most popular) metrics to note are fan count, likes & comments. As these grow, they provide many a marketer with a warm and fuzzy feeling of success! Simply speaking, a rise here is a positive step but if not allied to your objectives they mean surprisingly little. Measure Against Your Goals – An Example A brief example that this humble writer can recount was from time spent working with a local visual…
In the social media fitness centre, are you fitter or fatter than your competitors?
In the digital age, marketeers have the power to measure their performance more effectively than ever before. Well defined and measured KPI’s (Key Performance Indicators) are the key to measuring your performance in your own marketplace. Did you know that you can look at your competitors KPI’s and compare them against your own? Here are 3 ways you can gauge your social media fitness against the competition using freely available data. The Basics: Followers & Visibility Follower/fan count Post/tweet totals Reach/exposure These are the easiest to find and compare. They provide a general overview of competitor performance. But beware! They can be misleading… A company could be gung-ho to gain thousands of followers through Facebook ads, but have no meaningful interaction with any of these fans. That’s why you have to go deeper… Advanced: Interaction Retweets Shares Replies/comments Mentions Contributors (who is retweeting you, and how many impressions they created) Now we’re getting somewhere. Social media is about interaction, you need to know how your conversations and content stack up against your competitors. If they are gaining more retweets, shares etc, look into their style of interacting with their audience. Maybe they are the kings of clever #hashtagging? They turn everything…
Irish Bank Sector – Social Media Analysis #BOTB
Continuing our ‘Battle of the Brands’ social media analysis, this week we’re looking at the Irish Bank Sector. We’ve compared the biggest Irish banks across Facebook and Twitter. We then analysed their data and highlighted some interesting insights, have a look below to see what we found. Facebook Analysis What we discovered Only 2 banks are actually on Facebook, RaboDirect and Bank Of Ireland while AIB have a GAA site BOI posts about sponsored popular culture like Leinster Rugby & Dragons’ Den Rabo posts financial tips & advice, which engages fans and helps build trust Posting is often inconsistent, a week will frequently pass without content Key Insight For banks, Facebook is an effective channel for creating a human connection with customers. RaboDirect is very adept at creating that connection. Their posts are engaging and helpful to their members. They don’t push promotions or products, instead they educate their fans in the area of finance, offering tips and tricks. This helps to build trust with their fans. Bank of Ireland uses Facebook to promote what they do, trying to engage with fans via sponsored popular culture. While this is good for brand awareness, perhaps fans will view them as a…
Irish Mobile Sector – Social Media Analysis #BOTB
Want to know how Meteor, O2, Vodafone and Three compare to each other in Social Media? Well we did. At the Digital Summit Event on the 7th of March, the team at SocialMedia.ie launched our “Battle of the Brands” campaign. We looked at the Mobile Sector and compared the four big Irish mobile networks across Facebook and Twitter. We then analysed this data and came up with some interesting insights which you can see below. FACEBOOK ANALYSIS What we discovered Meteor has the highest engagement rate across their fan base at 8.4% PTAT/Fans Competitions are the most effective way to engage customers Posts are erratic, posts are made at random times each day with no schedule They all average at roughly 1 post per day, which is too low (we would recommend 2-4) Key Insight Facebook is primarily used by the four networks to promote their brand and engage in fun activities with fans. They don’t talk to their fans however, they post content and let the fans do the talking. If we were to categorise their Facebook style (which we have), we would call them broadcasters. TWITTER ANALYSIS What we discovered The Top story on Twitter was that SMS is…
SocialMedia.ie’s Competitor Analysis Facebook App
As some of you already know, this week is Social Media Week and to celebrate we are launching our own Competitor Analysis Facebook App. You can use this free app to analyse your Facebook activity against your competitor’s. Do you want to know how your competitors are performing on Facebook? Do you want to see what activities are succeeding for them? Do you want to connect better with existing customers? Then use our app Compare your performance in key areas with up to three of your market competitors. Identify top performing posts and types of post. See who has the most fans, how frequently they post and how much their fans engage with them. Get the competitive edge with SocialMedia.ie’s Competitor Analysis – Facebook App.
7 Key Metrics to help understand your customers’ behaviour online
After nearly 80% of businesses across the globe rushed to mark their spot on social media platforms over the last five years (Harvard Business Review), many are left scratching their heads as to why their efforts have not been financially rewarded. Reports from a Harvard Business Review survey indicated that only the 12% of businesses that are reviewing the responses to their social media efforts through metric applications felt that they had optimised their social media usage and were benefiting from the results. Concluding that ‘if you don’t measure it, you can’t manage it’! In the past Marketers and Business owners used arbitrary ways to measure the success of their advertising efforts; quantifying revenue, customer acquisition, frequency and volume of sales, but remaining clueless as to which advertising streams were successful and which were blindly draining their budget. Now, thanks to the evolution of WEB 2.0, marketing has become both a science and an art. With most marketing efforts now being conducted online, responses can be measured, collated and analysed to illustrate precise information about the effectiveness and efficiency of your actions. A metric is a measurement system that can be used to measure an organization’s performance on activities….
8 Tips for Success with Social Media Monitoring and Measurement
A 2011 Awareness report identified ‘monitoring social media’ as one of the main challenges facing businesses in 2012. At the same time, social media budgets are expanding with 75% of marketers planning to increase their social media budget this year. No one can afford risk in a trembling economy. To achieve success you need to measure and monitor your social media efforts efficiently. Here are some tips to de-mystify measuring, monitoring and metrics and help you achieve success: 1. Plan to succeed Establish a strategic social media plan by setting measurable goals that correspond directly with the goals and objectives of your business. The best way to set effective, measurable goals is to establish a series of Key Performance Indicators (KPIs). There is no fixed set of KPIs that any one business should measure. However, important KPIs may include: the number of unique visits to the website, customer lifetime value, the number of comments and shares per post, engagement durations, conversion rates, number of downloads, traffic driven etc. Focus on SMART objectives ensuring that your KPIs are specific to your business, measurable, achievable, realistic and time bound. 2. Listen to the conversation Are you listening…