How to Leverage Social Media Metrics for maximum impact

 

“You can't improve on it unless you measure it”. This hold true for the social media effort of your organization. Social Media can be categorized into 3 types of media – Owned media, Earned media and Paid media.

• Owned media is the one where the brand operates its own media – social media channels, blogging channels and affiliate channels.
• Earned Media are the media that is generated about the brand from customer, prospects, analyst and even employees.
• Paid media – here the brand pays to put their content in the media channels owned by others – influencers, agencies etc.

In this blog, we will explain: 

• Some metrics to track social media.
• Deep dive into one of the key metrics on Share of Voice (SoV).
• Key Success parameters for SoV.

·

Social Media Metrics

Key metrics are listed below.

For Benchmarks, you can refer to this nice blog.

What is Social Share of Voice SoV ?

Share of Voice (SoV) is the percentage of your organization’s social and digital mentions in not owned channels (also known as earned media) compared to its competitors. “Study show that the brand that increase their digital SOV are more likely to grow their market share over time.”

Share of voice is an important metric for:

•  Monitoring what is trending in your industry
• Monitoring what is being said about YOU (& competitors)
• Identifying & connecting with top influencers
• Gaining insight on what content to create
• Tracking the impact of Industry events and press releases
• Improving Search Engine Result Pages (SERP)
• Monitoring corporate Risk

Key Success parameters for SoV

Here are some best practices for setting up organization

Execution	Impact
Deliver Original, Customer-Relevant Thought Leadership Content	Get Quality followers, Industry Leaders, Evangelizers. Increase your social clout.
Ensure that this KPI is followed by ALL – Top to bottom	Ensure effective training of teams on social media.
Leverage the Press Relations and Influencer department to the fullest	Effective listening. Seamless working with PR and analyst teams.
Execute a strong social media management team	Ensure smooth Owned Media operations. Remember – RT counts as earned media !!!
Embed Social Media as a Key Component in Our “Digital First” Campaigns	Ensure Social media is key component to all campaigns.
Leverage Global, Industry, and Regional Events	Create User generated content along with company content.
Measure with Discipline to Achieve Continuous Improvement	Identify the weakness and take corrective actions.
Drive Disciplined and Proactive Keyword Management	Ensures the education of the internal and external facing employees on

 

This blog encapsulates some of the salient points of social media metrics talk I have given. To catch the entire video , please click here.

powered by Crowdcast