Social Media Marketing - Exam 2
Point of Metrics
which are the most helpful for your particular brand. These figures can help show value of social media in ROI of company
Social Media Metrics
Data and statistics that provide insight into our social media performance
1 Billion users (approximately 7.6 billion people in the world) 80% of users outside the U.S. 500 million stories per day 4.2 billion post "likes" per day Under 25 year olds = 32 minutes per day 39% of women, 30% of men...but gap is closing 59% of U.S. users are under 30 70% of U.S. businesses are using Instagram (have an active profile but not actively engaging necessarily)
Four primary reasons people share content
1. Define ourselves to others 2. Bring valuable and entertaining content 3. Grow and nourish relationships 4. Get the word out about causes and brands we care about
Key performance indicators (KPIs)
1. Increasing revenue 2. Expanding reach 3. Overall return on investment (ROI)
Good Content
1. Know your audience - "good" is relative 2. For most people, there is some appeal to desire to connect. - Inviting them into your brand. Extend invitation to them. 3. Tell a Story 4. Establish credibility 5. Simplicity is key 6. Create urgency 7. Be funny
Three things to focus on with social media
1. New traffic to website 2. Lead generation (by joining conversations via hashtag and following company's hashtag) 3. Increasing awareness of a loyalty to your brand
How to measure brand awareness
1. determine what metric works best for your brand 2. define your reporting period 3. be consistent (key to truly being able to evaluate)
3 stage approach
1. precrisis 2. crisis event 3. post crisis
Yelp
145 million monthly users 32 million unique mobile devices 171 million reviews Still largely US, but expanding 35-54 largest U.S. user group Has shown increase in revenue If you are a food biz may want to encourage use and reviews
250 million monthly users - 125 million are in the united states Over 175 billion and 3 billion bards 81% of users are women (median age is 40) 40% of pinners have household income of $100K+ 87% have purchased because of a pin Top category for U.S. users: Art, Art supplies, and hobbies 1.7 billion recipes pinned 85% of pinterest searches are from mobile devices 85% of women use pinterest to plan life moments 98% of users actually try the things they see on pinterest
YouTube
5 of top 10 were gamers and top 10 YouTubers earned 42% more 1.9 billion monthly users 6 of 10 users prefer online video to live TV - Because of advertisements 70% of millennials used YouTube to learn how to do something in 2018. 96% of 18-24 yo American Internet users use YouTube Works in 80 different languages (91 countries) Average user spends 8 minutes and 41 seconds a day on YouTube Number 1 IOS app downloaded in 2018 Top 3 reasons gamers use YouTube: feel less lonely, unwind from gaming, use gaming skills.
Daniel Watkins: Rule of thumb for MSU instagram stories
7-10
70% of users are united states Place to share content of blog information and articles Over 500 million users (260 monthly) - Goal: 3 Billion users by 2020 61 million are influencers / 40 million in decision-making decisions Most used by Fortune500 companies Slideshare = 70 million monthly users #1 for business to business (driver to blogs & sites) - Long form articles have the most shares (1,900 words+)
Benchmarking
A point from which we are measuring. A starting point.
Social Media Audit
A systematic examination of social media data An evaluative phase
Mission Statement
A written declaration of an organization's core purpose and focus that normally remains unchanged over time.
Purpose of Social Media Metrics
Demonstrate value Illustrate impact Justify investment
Daniel Watkins: Goal for HailState athletics
All general information ab MSU sports Tell the broad story about the news 3 to 1 ratio from organic posts to retweet 4-5 posts on Twitter everyday Instagram - one every few days
Social Network
Any website where one connects with those sharing personal or professional interest
Point of social media metrics
Are we reaching the right audience? Are we engaging the right audience? Are they acting on our content? Are they actually purchasing (are we converting them to a customer)?
Call to action
Ask a short question and then tease video or additional content with read more or watch now Tailor your posts to your audience: gender, age, education Informal punctuation and grammar is ok if it on brand
Daniel Watkins
Assistant Athletic Director for Digital Strategy at MSU oversees social media team
Share of Voice (SOV)
Awareness metric Competitive analysis of how many people are mentioning your brand vs competitors Formula: Total mentions across all platforms (direct & indirect) / Total mentions across all platforms + competitors' mentions (total industry) X 100
Potential Reach
Awareness metric Estimate of # of people who could see the post. Helps gauge progress Theoretical so it helps us predict response and behavior Amount of followers that saw each mention X amount of brand mentions = theoretical reach potential reach is 2-5% of theoretical EX: If one of your followers shared your post with her network, approximately two to five percent of her followers would factor into the post's potential reach.
Post Reach
Awareness metric estimated number of individuals who have seen a post since it went live You have control over timing of post and actual content you are posting Look at top posts to see what is working. Formula: post views / # of followers X 100
Audience Growth Rate
Awareness metric measures the speed at which your brand's following increases on social media. It's how quickly you gain followers.and in comparison to competition. Formula: New followers - old followers / new followers X 100
Just in time predictive analysis
Based on routine and even out of routine behaviors Geosocial trend
Customer Testimonials
Consumer Centric metrics Any customer review, assessment, comment, endorsement, or interview relating to a brand A product of customer delight. Sincere endorsement of the product gain credibility and trust while boosting your brand's presence If you have good customer reviews, good way to use that to promote product. People who like that attention will also do it to gain that same attention.
Global Statistics
China has most users, then India, then America 80% of Instagram users and twitter users are outside the U.S.
Net Promoter Score (NPS)
Consumer Centric metrics A metric that measures customer loyalty Helps predict future customer engagement. Product of one specifically phrased questions: how likely is it that you would recommend our ___ to a friend? Detractors: 0-6 score range Passives: 7-8 score range Promoters: 9-10 score range NPS is unique in that it measures customer satisfaction as well as future sales, which has made it a valuable, go-to metric for organizations of all sizes. Promoters - detractors / total respondents X 100
Customer Satisfaction Score (CSAT)
Consumer Centric metrics A metric that measures how happy people are with your product or service The product of one, straightforward question: How would you describe your overall satisfaction with this product? Numerical or sentimental response - Can use likert scale or number scale Sum of all scores / number of responses X 10 You can utilize this on Instagram with the polls.
Bounce Rate
Conversion metric % of page visitors who click on a link in your post, only to quickly leave the page they land on without taking an action. Install google analytics on your site Lets you measure your social media traffic—and, in turn, ROI—against other sources of traffic (e.g., traffic from a Facebook post vs. traffic from an organic Google search). Tells how long they stayed on your site. If your social media bounce rate is lower than that of other sources, it's proof that your social media campaigns are targeting the right audience—and, in turn, driving high-value traffic. Bitly can help with this by creating separate links per platform. But google analytics is most effective
cost per thousand impressions (CPM)
Conversion metric Amount you pay every time a thousand people scroll past your sponsored social media post. A split test helps maximize efficiency for ad purchase. Small test for different hashtags or video vs picture - Target audience. Know your people and what's important to them - Split test hashtags > Use multiple hashtags vs just one > Same hashtags but different content > Placement of hashtags in the post - Ad formats > Carousel vs geotag for locations - Length of post - Style - Use of emoji - Tone of voice - Call to action > Getting them to actually act on the post > Playing with different ways to phrase call to action especially when dealing with clients trying to improve social commerce zone - All fluff and no content in not good. Content and visual imagery need to be congruent. Total ad spend divided by total measured ad impressions
Social media conversion rate
Conversion metric Does this content resonate with our people? Understanding this metric will give you clear insight into the effectiveness of each post in a campaign. Need bitly link and cookie in computer to make sure they followed through and purchased. Conversion may look different dependent upon whatever zone you are in. May not always be a purchase. May be go like our new account. The total number of conversions that come from social media, expressed as a percentage.
Conversation rate
Conversion metric Number of comments per posts divided by the number of overall followers you have A metric that helps us measure: 'is what you're saying interesting enough to spark the most social of all things: a conversation?'
Conversion Rate
Conversion metric Number of visitors who, after clicking on a link in your post, take action on a page (e.g., subscribe to your newsletter; download a gated content asset; register for a webinar) against that page's total visitors. A high conversion rate means your content is valuable and compelling to the target audience. One way is to use a URL shortener; cookies - With bitly - Cookies: track activity from that Formula: Total number of clicks and conversions added together and then divided by number of conversions
Cost Per Click
Conversion metric amount you pay per individual click on your sponsored social media post. Use platforms ad manager. How much spent on ad divided by number of click it got Don't look at total - look at CPC to determine efficiency or wastefulness.
Click Through Rate
Conversion metric how often people click on the call-to-action link in your post. Not to be confused with other engagement actions (e.g., shares, likes, comments), your CTR is specifically tied to a link that brings the audience to additional content. Number of clicks on post's link + number of impressions (people who saw post) / number of clicks divided by number of impressions X 100
Geofencing
Drawing a line around in an area and if a consumer enters that area it will trigger an email advertising something for that store in that location Geosocial trend
Augmented reality
EX: pokemon go, loreal virtual makeup A geosocial trend
Social Network Characteristics
Enable user profile Ability to join groups Interaction with other users May or may not be mobile-friendly
Amplification Rate
Engagement Metric Ratio of shares per post to # of followers amplification is "the rate at which your followers take your content and share it through their networks." Basically, the higher your amplification rate, the more willing your followers are to associate themselves with your brand. Formula: shares during reporting period / total # of followers X 100
Virality Rate
Engagement metric # of people who shared your post relative to number of unique views (impressions) Goes deeper than just likes - a post can have fewer likes but more shares = higher virality Number of shares / # of impressions X 100
Average engagement rate
Engagement metric Number of engagement actions (likes, shares, comments, etc) post receives relative to # of followers Higher it is, the more your are resonating with audience Formula: Add all of the likes, comments, shares, etc of a post / total # of followers on that account X 100 Can do this with top 3 posts on social media audits or lowest engagement posts that missed the mark Benchmark for this metric is different on every platform For EX: Facebook and Twitter, for example, typically have lower engagement rates (e.g., 0.5 to one percent). Instagram, on the other hand, is known for its relatively high engagement rates (e.g., three to six percent).
Applause Rate
Engagement metric number of approval actions (e.g., likes, favorites) a post receives relative to your total number of followers. When a follower likes or favorites one of your posts, she's acknowledging that it's valuable to her. Knowing what percentage of your audience finds value in the things you post can—and should—inform your content moving forward. Formula: # of approval actions for a post / # of followers X 100
Brand Awareness
Evaluating attention your brand is receiving across all platforms during the reporting period (the conversation around your brand) Looking at mentions with @ or without @, links, shares, impressions, hashtag use
Crisis Damage
Financial loss, tarnished reputation, injuries/death to stakeholders, structural/property damage, environmental harm
Different ways to specify a target
Geographically demographically psychographics behavioral segmentation
Location-specific influencers
Geosocial trend
Daniel Watkins: Facebook for MSU athletics
Has most power but not where the most viewers are. High area of traffic for ads because that is where people buy the tickets
Vanity Metrics
Have followers but no engagement. Everything is for show, and no one is seeing your content.
Conversion Metrics
Help demonstrate effectiveness of social engagement Moving people to ACTION. Separate action, intentional. Driving ROI. EX: Google analytics.
Social Media Visual Interest
High - quality stock photos Infographics; readability - Effective for twitter and pinterest - Make sure you give the eye white space to rest Personal photos = authenticity Behind the scenes Quote graphics - make sure fit to the screen being looked at Brand essence Action shots Pleasing palettes
Crisis management
How to handle crisis: Proper guidelines, reduce damage, entire team dedicated to practice
establish credibility
If you are asking questions, be able to respond. Use authoritative sources as backup.
Beacons
In-store activity tracked = timely offers Tracking all instore activity such as the patterns of walking in a store, things you are drawn to and why Geosocial trend
Social Media Metrics shows how you are
Increasing awareness (these metrics illuminate your current and potential audience) Working toward engagement (these metrics show how audiences are interacting with your content.) Conversion (these metrics demonstrate the effectiveness of your social engagement.) Consumer (these metrics reflect how active customers think and feel about your brand.)
Stephanie Holcomb
Insta: @honryholden Food & health insta: @essentiallyhoney
Drive brick & mortar traffic
Inventory sync geosocial trend
Increase visibility of reviews/ratings
Is there a place on their home page where you see ratings, reviews, feedback? People really like to have their information shared by brands and influencers Follow up with buyers Express gratitude for glowing reviews: share on social media Follow up with negative reviews Contests (give some motivation to leave a review) Rewards for reviews (coupons/discounts) Increase credibility with sourcing (Follow through with whatever you say you are going to do. Give photo credit in post or announce winner to tell them someone actually won. ) Give customers a reason to review/rate (customer service and Go above and beyond to encourage reviews. Go the extra mile to make people want to leave a review and be connected to that brand) How easy is the process to leave a review?
Writing for social media
Keep it casual but on brand Keep it personal Keep it short (most shared on FB - 11 words plus some type of video or emojis) Call to action: punchy & direct
Snapchat
Launched in 2011 as peekaboo 186 million daily users (up 5% from previous year) Average time spend 25-30 minutes per day 47% of US teens consider it "most important" 78% of Americans 18-24 year olds use the app 57% of brand content is video 91% of people who watch one snap from a brand - watch the whole story Parents don't use it so they love it. Most pop ad brands: buzzfeed, comdy central, and Iheart radio Peak snap time is on Saturday 2 million snaps sent each minute
Behavioral Segmentation
Looks at brand loyalty, the benefits they are seeking from your product, price sensitivity (what is the budget they are dealing with?) most important for social media because looks at social media use
Growth Potential
Market penetration: Same format but focusing more on same target market by getting new people in that market Market Expansion: Same format but reaching new markets
Engagement metrics
Measure of how people are interacting with your content
Change customer loyalty programs
More localized specials & coupons EX: give you a coupon for MSU gear if only shop at CVS closed to campus geosocial trend
More than 350,000 tweets sent every minute 326 million users each month Where hashtag first originated Users tend to be urban, educated and have higher income 71% of user report they are consuming NEWS Government leaders are on Twitter Most emojis used is laughing cry face, heart eyes emoji, and cry face. Recall of twitter content is higher
Simplicity is key
Most important content in first 120 characters.
Primary Research
New research conducted by yourself to answer SPECIFIC questions gathered by surveys or polls
Tell a story
People remember things more easily when they are told in a story EX: Dela - funeral insurance company let the customers tell the story Inverted pyramid writing for news articles but Ipads are Z start with the good stuff, scan, end on a banger
4 factors of crisis management
Prevention: putting things in place to avoid Preparation: plan, recognize vulnerabilities, train crisis team Performance: apply prepared components, be consistent Learning: evaluate performance in crisis, apply to future to prevent recurrence
Awareness Metrics
Purpose: understand your current and potential audience
How to generate customer testimonials
Reach out to your best customers (people most loyal to brand). - Be careful about offering to compensate for review because becomes paid endorsement which decreases reliability and sincerity of review) Use social media to do campaign to get people to create written, video, or online testimonials about your product, service, or mission Link to your Google My Business review form to make leaving testimonials a simple, seamless process for your brand evangelists.
Weather-based advertising
Receiving ads for free scoop of ice cream on a really hot day or receiving ads for storm shelters in spring in south geosocial trend
Consumer Centric metrics
Reflect how your active customers think and feel about your brand. With a positive experience we are more likely to share the love of our product
Be funny
Relatable and most memorable
Review
Reports that give someone's opinion about the quality of a product, service or performance Advantage: leaves opportunity for response and input as to why it was a bad experience 90% of respondents who recalled reading reviews said it influenced a purchase. - 86% said a negative review influenced buying 60% report viewing a review in-store before a purchase
Secondary Research
Research that has already been done and provided for you to use
FourSquare/Swarm
Search and discover app 50 million active (monthly) users 8 million daily checkins Turkey leads the way Similar to yelp when you are in an area and looking up places to eat
Check in
Self-reported position of one's physical location shared to site
Daniel Watkins: MSU Athletic approach when creating content
Snackable moments over meals If we give you everything you need to know about the game, what's the point in going to the game. Teasers are key
SMART objectives
Specific, Measurable, Achievable, Relevant, Timely
Daniel Watkins: Purposes of Social Media at MSU
Story Telling - Tell stories of student athletes - "we are a nice house in a neighborhood of mansions" - scott Strickland - Find new ways to celebrate signing to seem different to next recruit Inform - Rankings, upcoming games, etc Entertain Promote Sell - Ticket sales
Reporting period
The period of time you determine you are going to regularly conduct the social media audit
Daniel Watkins: MSU Videography
The shorter the video the more likely the audience will watch the entire thing.
Third most visited website behind google and YouTube Top choice for reaching the broadest audience 30% of Ad Audience is 25-34 41% of 65+ are Facebook users 88% of users are accessing via mobile device Successful because so many different ways to share content Average American user spends 58 minutes on Facebook Top choice for marketing people using social ads. Still a primary way to push product.
Chris Walker: Key elements of crisis
Unpredictable and unexpected organizational routine is disrupted in some way major threat
Geosocial
User submitted - Done in form of Check in Location data Utilizes GPS technology - Push notifications based on location. Give things that are relevant to them in that exact moment Allows for connection and networking - Post location and others connect based on information - Consumer to consumer and business to consumer People, businesses, events have had a lot of success with this
Event marketing
Using more specific targeting with ads for event sales such as certain areas to target most geosocial trend
Create urgency
What is call to action What are you trying to accomplish with the post
Daniel Watkins: MSU social media ads
Work with ad agency and look at geolocations
Target audience
a group of people identified as the recipients of a communication/message Ex: For a non-profit, the target audience would be the donors that provide the support
Objectives
a measurable step taken to achieve the broader goal SMART
Rating
a measurement of how good or bad something is, but expressed specifically on a scale that is relative estimate or evaluation Disadvantage: your 5 and someone else's 5 may not be the same. 5 point scale most popular. May be stars or numbers or for restaurants, spoons
Demographics
age, gender, ethnicity, education levels, occupations, incomes, family
External factors
all of the factors outside of organization that you do not have control over Opportunities & threats
Chris Walker: Crisis
an event that is an unpredictable major threat
Target market
an identifiable group of people who share common wants or needs that an organization serves Ex: For a non-profit, the target market is the group that needs/benefits from the services
things to remember in crisis
be consistent, control & compassion, communicate in timely manner, know which strats to implement when
Weaknesses can become opportunities for your organization through ____ and ____
goals / objectives
Facebook places
is a new application for mobile phones that enables Facebook users to alert their friends to their current location. - One of most used platforms - Check in - Tagging friends - Recommend this place - Drop a pin to see where you are. Make sure your biz is updated so when people tag it will connect your biz
Goal
something a person or organization is trying to achieve organization driven rooted in mission statement
Internal factors
things occurring within the organization and impact the approach and success of daily operations Strengths & weaknesses They have some level of control over Social media; what you post, what you respond to, how much you engage
Psychographics
values, attitudes, lifestyles
types of crises
victim, accident, preventable