[Build Backlinks Online] Social Engagement Metrics That Matter - Measuring, Tracking, and Reporting FTW

Build Backlinks Online has posted a new item, 'Social Engagement Metrics That
Matter - Measuring, Tracking, and Reporting FTW'

Posted by jennita
Let's be real here, measuring your social efforts is a pain in the butt. I
mean, there are tons of metrics to track, and data to look at, but actually
knowing if you're making an impact to the organization, that's a bit trickier.
Right? It's simple to track followers and see which platforms send you traffic,
but how do you know that you're meeting your goals? How do you make sure
everyone understands social's impact on the organization?


Follower counts are boooooooring.


These are the types of questions I often hear when people are grasping with
"proving their worth" or getting management and other team members on board with
making social a focus. It's so easy to get caught up in doing the things, that
you sometimes forget to measure and understand why the things need to be done.


Today I want to walk you through the process we use here at Moz for measuring
our social efforts. This is a process we're constantly working to improve, and
we have just recently added new metrics and changed our goals a bit. It's
something that you don't do once, then set aside.

Social Media Goals

Before I dig into the specific metrics, it's important to take a look at your
business goals. At Moz, we use the OKR (Objectives and Key Results) system
throughout the organization. This helps to ensure that we're all measuring
things in a similar way and that we're all working toward meeting and impacting
the company's overall objectives.


Since social media is pretty top-of-the-funnel, you'll often have goals around
increasing engagement and traffic to your site, or growing community and
improving customer service, and not as much around increasing sales or
subscriber numbers. Moz has always been a very customer/community-centered
organization, so while the community team will always be focused on customer
service and expanding the community, on a quarterly basis we additionally focus
on helping to meet the goals of the marketing team as a whole.


Let's take a look at one of these examples:


Marketing Objective: Increase Site Traffic, Engagement, and Customer Flow
through Site Funnel


Key Result: Improve Non-paid traffic to the site from all sources by 25% by end
of Q2


Social roadmap: Increase engagement with community by 5% on Social channels in
order to increase traffic from social by 15%

Engagement Metrics That Matter

Ok, so you know how you want to use social media to reach goals for your
organization. Engagement is a great goal, because it can impact the business by
increasing traffic, growing brand awareness, talking with community members,
showing your voice. But "engagement" isn't a simple number like followers. It's
a fuzzy word we like to use to mean "interactions with your brand." Plus, every
social channel is completely different, and engagement isn't the same for each,
so how can you measure it? On top of that, how are you going to gather all the
information? Which tools will you use, or do you have to go to each network to
grab the info?


But what if I told you that actually all the social networks (including your
blog!) really do have the same engagement metrics? Several years ago, Avinash
Kaushik wrote a post where he touts the best social media metrics are
Conversation, Amplification, Applause, and Economic value.


We've adopted this method of engagement tracking, and actually use this not
only for our social sites, but also for engagement on the blog and in other
areas of the site. Let me explain what each of these means for different
platforms, and how they're really all the same. :)







Conversation rate â This one is fairly straightforward in that it's based
on the number of conversations per post. On Twitter, this is replies to a tweet,
or on Pinterest, Facebook, and Instagram, it's a comment on the pin, post, or
photo.


Amplification rate â Any time a post is retweeted or re-shared, it's
being amplified. All the networks allow you to do this, so think of this one as
the number of re-pins, retweets, or reshares of a particular post.


Applause rate â Every social network out there has an "easy" touch point
to show appreciation, or applause, if you will. Twitter has favorites, Facebook
has likes, Google+ has plusses, heck even most blogs (such as our own) have
thumbs up or up-votes. So the applause rate is based on the number of "likes"
each post gets.


Economic value â This is the sum of short- and long-term revenue and cost
savings. Now, I have to be honest, we don't have the economic value part all
worked out yet for the community side of things yet. But it will be a focus over
the next few months to have things set up correctly.


Relative Engagement Rates â This is something that actually gets me all
giddy. :D So, you have all these engagement metrics, but what do those numbers
even mean? How can you compare the conversation rate on Facebook with the
conversation rate on Instagram? This is where the relative rates come in, think
of it as the average number of conversations happening per post, per follower
(fan, encircle, etc.).


Think about it this way, using the relative engagement rates, you can start to
compare followers to followers on different networks. Now, Facebook and Twitter
(or Pinterest, or G+, or Instagram, etc.) are obviously not the same, but if you
can determine the engagement rate per follower, per channel, you can then work
to improve those rates accordingly.


This way, when you increase your follower count, you can also focus on
sustaining (which is actually an improvement all on its own) or improving the
engagement rate per follower. So you can show your boss or client, that not only
have you increased followers, you've also increased engagement per follower. And
at this point, the traffic to the site from social has probably increased as
well.


Ok, these numbers aren't rocket science, and honestly they're not that hard to
get, I mean it's mostly math. But the very smart folks over at TrueSocialMetrics
have made it super easy on all of us by essentially creating the tool that
Avinash pleaded for in his initial post. (Also, bravo on seeing a need and
making it happen!)

How to track them

As I mentioned previously, you could go about grabbing these numbers on your
own and calculating them by handâ but why in the world would you do that
when TrueSocialMetrics has already done all the work for you?


Your first step is to run over to TrueSocialMetrics and sign up for a free
account. With the free plan you get 12 social networks and a month of data
history. I personally prefer the "small" plan which is only $30/month and gives
you a year of data history. (FYI, we have no affiliation with them, we're just a
happy customer!)


Once you sign up, you'll add connections to all your social networks,
including your blog, and then start calculating the data right away. The initial
dashboard looks something like this:




Holy numbers, Batman! Remember, right now we're just at the point of tracking
the data, we'll make this look a bit prettier in the next step.


Here at Moz, we capture our metrics on a weekly basis, and then send a monthly
email to the entire staff, showing how we did during the previous month. We've
toyed with a number of ways to show this data, and make it clear what's moving
the needle.


Every Monday morning, Megan logs into TrueSocialMetrics and grabs the
following numbers for each channel for the previous week, and adds them to our
spreadsheet:

Posts
Replies
Shares/RTs
Favorites/Likes/Plusses
Conversation Rate
Amplification Rate
Applause Rate
Channel Growth
Visits from each channel



What I like about this is that you're essentially using this for data storage,
and anyone can do it. It's not a method that only one person knows how to do,
it's a simple process of adding numbers to a spreadsheet. Then you'll make
something a bit easier to digest that you send around to the rest of the team,
or to your client.

How to report it

Having the data and doing something with the data are two different things.
Not only do you need to use the information to help meet your goals, but there
are always other folks who are dying to know the ROI of what you do each day. So
how can you take these metrics, and report them to the team in a way that is
easily digestible? In a way that shows performance over time and helps everyone
understand what's going on from a social perspective.

Community action plan

The first thing we did, was to create a Community Action Plan, which is a
quick and easy way to see where we're at with reaching our goals at any given
time. It shows our weekly KPIs, the baseline for each metric, the percent
increase for this current period, our goal by the end of the period, and where
we're at with that goal.




On a weekly basis we grab the data, throw it in the spreadsheet, and then our
action plan magically shows us how we're doing against our goals. I <3 magic.


You can download a sample version of spreadsheet that we use for this here:


Sample Social Media Action Plan

Monthly email

In addition to having this easy-to-read dashboard, we also send out a monthly
email to the entire staff which shows our engagement rates over the past six
months, traffic from the social channels, as well as a few other community
metrics we look at that aren't social specific. We lovingly call this email the
"Community Chronicle." :)


Here's a taste of what it looks like this:




Notice the downward spiral of Facebook engagement and traffic, while Twitter
continues to soar? This is a trend we've been noticing for the past few months,
ever since Facebook made some algo changes to their feeds that shows less and
less updates from brands. *insert sad face here*


But this is exactly the kind of trend we want to know about, so we can react
to it. We've been testing various ways of increasing engagement on Facebook, and
we've seen a slight up-tick. We'll all surely be watching this over the next few
months to see if we can get those numbers back up organically, or if we'll be
forced to pay the man! The Facebook man that is.

What's next?

Well, now it's your turn to take action. Capturing the data is the easy part,
the tough part is to do something with it. You'll need to decipher the trends,
determine when to make changes, what works, and what doesn't work. Since it can
be different for every organization, I'd love to see how you set up your action
plans and if you add other metrics to it. If you do create one, send it over,
I'll add a link in this post.


Social media can be a tough one to explain to the boss/client, but it doesn't
have to be. Put it into simple terms and track it over time. Let me know how it
goes!
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