Tag Archives: KPIs

#WTF is Social Dynamics – Do We Even Have a Freaking Idea?

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Everybody wants to do social. All are driving their brands to social. All rosy to begin with, full of enthusiasm, round the clock dedication, always on top. 6 months and start running after returns. 6 monhs of 50000 fans, whichever comes first – start pushing for monetization – Sell Sell Sell as if your fans are dying to buy your products/services out.

Patience, a virtue, much talked about in school, also in traditional – come social and woosh! Slow and steady wins the race, again studied in school, forgotten on social. We took a year to graduate each class, but on social recruitment to monetization need to be achieved within 1/2 that time. Logical, but never followed, simple and straight – recruit, consolidate and then consolidate and monetize. Social will always give you returns and the magic will happen. But, remember the very important ingredients – commitment, patience and consistency (considering there is domain expertise, objectives and strategy.

How long will we faf and not realize the potential of social. Social dynamics is key and as soon as you get what that is the better for you to tap into its potential. These dynamics will give you clear cut measurables, building to an ROI no one can refute.

In a following post, I will talk about the KPIs that we need to track and we need to build up to them and come good with ROI.

Leaving you with intrigue and hoping to hear your views on social dynamics.

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Social Media Metrics – Amplification Rate

Amplification through (marketing) relationships – 1 thing you sure can’t buy!

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Social Media KPI [Series] [#2]– Quantitative

Here comes the 2nd one in the series. Going on to the next step after you have decided and started measuring for Awareness and Engagement both on the Home Base and the Out Posts – The Digital Touch Points.

It’s not about what you do on your outposts (social community/accelerator networks) but also the touch points that lead your users/followers/consumers to it. The Digital Touch Points!

Digital Touch Points

 

List down KPIs for all the touch points and get them into your measurement and analysis grid. These with the earlier ones, together will provide tremendous insights. You might have offline also in your outreach program, if so, add them too. How people are interacting with you is what you had covered, now this one lets you know on where they are interacting and if they are hoping on from one to another – and in the process taking the conversations across touch points.

Thoughts? Looking forward to your comments… reach me @ajaxjoshi

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Social Media KPI [Series] [#1] – Quantitative

Following up on my earlier post in March this year, HOW TO Measure Success – Social Media KPIs here is another one which drills down further. There is so much that you can measure – endless, all you need is the right direction and contextual application. On Social Media, ROI is the most talked about term and for good reason:

  1. It is a new media that is talk of the town
  2. It is shouting for budgets and has already expanding or eating into other media budgets

It is bound to raise eyebrows and there would be tonnes of questions on the ‘Why do we need social media’. This post is surely not going to address that but as the 1st in a series of 3 posts will list out the quantitative KPIs for a Social media campaign/engagement.

Let’s jump right into it, drawing out the KPIs. Mind you, these are still top line and can be drilled out at least 3 levels down and a potent mix with the qualitative (touch points and consumer/audience outlook – coming up in 2 separate posts) will deliver the desired results.

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Patience, Hard Work & Perseverance: Social Media

You launch your campaign, the excitement is high, everyone is on board…Then about two weeks later, the excitement fizzles, the campaign looses steam and you are looking for results.

Are you kidding me… 2 weeks and you are looking for results.

A great social media campaign yielding determined results takes anywhere from 3 to 6 months and depends on the aggressiveness and goals of the campaign. Your impatience and lack of adhering to a social strategy is the reason why most of your campaigns don’t succeed.

Whenever you look to measure ROI for social media efforts, remember to be patient. I know it’s difficult, easier said than done, especially when your bosses insist on seeing results instantaneously. Start with what you have, the situations you can control and also the areas that you cannot affect.

Don’t get hung up on your metrics, how many dollars will I make, will I get traffic, how much will I sell… at least not in the beginning. What you need to measure though is the level of engagement with your ‘X’ number of fans.

Make sure you use your time and energy wisely. Analyze what metrics/KPIs make sense for your product/service.

Social media, if done right, can be classic brand building. But it takes time, time to build credibility, time to build influence, time to build a community. It doesn’t matter what the goal is, it’s not something that can happen overnight!You got be patient, hard working and have the ability to persevere to taste success.

Okay, lets broadly breakdown the results and goals of a typical social media campaign.:

1. Exposure and buzz: Exposure and buzz happen by reaching new audiences and making a repeat appearance in a strategic and relevant way. Reaching the audiences with useful information over and over will start to create the presence and allow audiences to start buzzing. The more you appear in their social networks, the more likely they will start buzzing and help fuel the exposure.

2. Branding: Reinforcing and recreating a brand is also based on repetitive exposure. Determining what the brand is and what it wants socially, will help form the online brand will ultimately help boost customer loyalty, and build the brand. Share industry knowledge and answer questions or help others. This will help you construct your image and over time, the brand will be recognized and understood.

3. Online reputation management: Social media networking can produce reputation management in two different ways such as helping irritated customers or solving problems and using search engines by having their social pages rank well on the search engines and push other results lower in the SERPs. Both creating a presence and letting customers know you have a social presence and they can utilize the accounts as necessary and search engine results, take time and effort to start achieving the goals.

4. Sales and new business: Different types of social media campaigns can have a direct influence on sales (and should if that is a defined goal). A strategic targeted message about specific sales information can be appreciated if done in moderation. The messages can direct users to viewing new products, blog posts, current specials or free offers, which can result in sales conversions. It takes some time to build the reputation and relationships before hitting the audience with a sales message, and then some additional lag time before they actually pick up the messages and respond to the call-to-action.

Give yourself and the campaign 3 to 6 months and you will see what I am talking about.

Let me know what you think by adding comments. To know more on Social Media follow me on Twitter @ajaxjoshi

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