Some time ago following to someone surprised via Twitter I met againg with Avinash Kaushik´s blog which, I must admit, had some time without visiting. In any case here in Canarias eTourism we wanted to deal with Social Media metrics and this Avinash´s post has certainly inspired to us. From the interesting reading you can extract a lot of information about the last trends for the results measurement of the brand´s presence in Social Media. The most important thing according to Mr. Kaushik is what happens after the publication of a post or a tweet depending on which network you use. The reactions to such messages by our potential target.
The Conversation Rate is equivalent to comments from the audience for each of the publications in Social Networks. This is something easily measured in the vast majority of Social Networks for instance Google Plus, Facebook, Twitter, LinkedIn, YouTube, Flickr…
A high Conversation Rate requires a deeper understanding of who your audience is, what your brand attributes are, what you are good at, what value you can add to your followers and the ecosystem you participate in.
In order to correctly understand this metric we must go a litte bit deeper in the network characteristics. You must bear in mind the fact that not only do you have a network, but every node in your network has a network of its own. This gives us the ability to amplify the message exponentially.
To weigh up the Amplification Rate we must know how many of our fans have shared our content with the rest of their contacts. In Twitter we pay attention to the number of retweets while in Facebook or Google Plus we must consider the number of times the content has been shared. In this regard it is essential to provide quality content to our fans to trigger the sharing with their contacts.
Another way to interpret our success in Social Media is the number of times our content has been marked as favourite on Twitter or someone has made Like therein, either via Facebook as making use of the Open Graph. In Google Plus you have to consider the number of +1s that stores a particular publication. Also in the case of Google Plus should be borne in mind that when someone performs a search on Google regarding our products or services, the number of +1s that people within the social environment have made in such content appears on the SERPs (Search Engine Result Pages) which is a clear indication to the user about the quality of each result of the affinity to the same tastes or interests which, at least in theory, should not differ too much from their contacts.
Social Media participation, done right, adds value to the company´s bottom line. Some of it can´t be computed. Just the mere act of participating in the most modern marketing channel and the inherent capability for message segmentation, added value to the brand, exposure, visibility…. are enough reasons to devote some of your marketing budget to this channel.
Furthermore, there are tools like Google Analytics, Omniture, WebTrends… with which we can make a detailed monitoring of the visits to our Website from Social Networks and, if correct work of labeling campaigns, offers and funnels, we can better determine the business that our Social Media presence has generated.