Social Media Metrics
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The 5 Social Media Metrics Your CEO Actually Cares About

The 5 Social Media Metrics Your CEO Actually Cares About | Social Media Metrics | Scoop.it
Social media vanity metrics abound, we can all agree. Here are the metrics your CEO actually wants to see.
Colin Cocaine's insight:

This article describes important social media metrics that today's CEO's are most concerned about.  Social media metrics are essential to benchmarking and evaluating the performance of social media efforts.  Brian Halligan, the CEO of HubSpot and a Senior Lecturer at MIT stresses the importance of channeling money and efforts in the correct platforms in order to maximize reach to customers.  This is done by measuring visits, leads, and generated customers via each social media platform.  Next is the all important ROI, are the generated inputs providing equal or greater outputs? The problem with this is it is very difficult to calculate through social media.  A study done by Adobe states that 52% of marketers site difficulties in accurately measuring ROI as their biggest source of frustration in social marketing.  To do this, the traditional social media metrics need to be reconciled with the customer base or CRM database.  Lastly, it is essential to respond to customers or other businesses with problems or inquiries in a timely and efficient manner.  NM insight saw that 1 in 3 social media users preferred contacting companies over social media than over phone, but that on 36% saw a timely response.  Customers find this very important, making customer response rates a major part of evaluating performance.  Participating in social media and measuring efforts is a must for all businesses in the 21st century.  It has innovated the way marketers segment, target, and listen to customers.  These benefits must be maximized in order to achieve the desired outcome.  With all of the different platforms and forms of social media, it is not easy to see which is the best for a business, so they all must be actively monitored for customers and outputs to effectively exceed performance standards.


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5 social media metrics that your business should be tracking

5 social media metrics that your business should be tracking | Social Media Metrics | Scoop.it
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Publishing content on the Internet generates reams (or, rather, spreadsheets) of data. Creators like you have access ...
Colin Cocaine's insight:

This article describes some of the new and useful social media metrics that can help companies be more efficient with their marketing dollars.  Social media metrics is all about being able to link your marketing investments to your marketing efforts.  The best thing about social media is that customers can actively engage with the brand and or product.  This allows companies to gather info and feedback directly from customers.  

 

Two of the most important metrics to track on social media is acquisition and engagement. These show how many new customers you have and how customers are interacting with the brand.  Acquisition can be tracked by new followers, audience growth rate, and revisit rates.  This allows businesses to track marketing efforts over time.  Engagement is very important because it demonstrates if the business is reaching out to the right group, and this group is actively listening and responding to your brand messages. This allows businesses to tailor their products more closely to the customer’s needs, and constantly raising brand awareness.  

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