Numbers are confusing. Even the savviest of marketer can get caught within the web of likes, tweets, shares and followers. Without commenting on how these numbers correlate the relationship that your business have with your online customers but 100 shares does not mean 100 numbers of sales and it also cannot measure the potential value of 100 shares.
So wondering which social metrics really matter, I am here to help you out with the most comprehensive list by taking references from some young, vibrant enterpreneurs:
1. Facebook Engagement
Kit Hickey, Ministry of Supply, has come up with a commendable practice of ‘Facebook Engagement Ratio” which has the number of people of talking about us, divided by the number of likes and tracking on a weekly basis.
2. Not just Show off Metrics
Shane Snow from Contently devised a social content analytics tool that tracks three scores: reach, engagement and influence. Where reach comes from page views and social impressions; engagement is total minutes spent with your content generated by active time on page and pages per visit and finally influence that signifies shares and subscribers.
3. Virality Vs Likes
Nicolas Gremion from Free-eBooks.net shares a more insightful logic; a post that gets 15000 likes (the number of unique people visiting) may only get 0.1% virality (the number of people creating stories from the ones who liked) while another who gets 9000 likes but 9.97% virality is a far better post.
4. Untold Stories of Metrics
Brett Farmiloe from Markitors has an interesting concept of stories. How many stories can we tell others as a result of what we did online?
- Did an influencer tweet resulted in X amount of sales/followers/traffic
- Did your social media monitoring tool discover someone using your products who wasn’t even aware that it was our product?
- Is that same person now a fan of ours?
- Did he buy more stuff after he rediscovered our brand?
Analysis of which can help rebind a story.
5. Content Distribution
Patrick Curtis from WallStreetOasis.com comments that social media should be utilized to build relationships therefore spread relevant content that matches maximum people’s interest.
6. Special Relationship with Followers
Heather Huhman from Come Recommended emphasizes that relationships rule when it comes to social influence. Social media networking to increase likes, shares and tweets don’t say much as a brand but developing unique one to one relationships does.
So take inspiration from this young entrepreneurs and if you have something to share feel free to share..