In the ROI era, practically any marketing action that makes a mark, must be accompanied by its corresponding metric to evaluate it. The mantra of that which can not be measured, can not be managed, has penetrated deeply, and at present very few teams escape the impassive scrutiny of metrics and analytics.
But the mere fact of measuring does not mean understanding, much less improving, because if what we are measuring does not provide us with a useful guide to achieve our objectives, we can already have the most sophisticated tools, we will continue to blind, Still believing we are on the right path. It is essential, therefore, to have a minimum understanding of the nature of the medium or entity that we are measuring.
Many companies use the wrong metrics to measure their performance, especially when it comes to social media. If our analytics are reduced to basic indicators such as page views, unique visitors, records, conversion rates, email newsletters, opening rates, number of Twitter followers and Facebook fans? Almost in all probability, what happens is that we have no idea what we are doing.
All of these basic performance indicators give us a vague idea of the popularity of our brand (being known, not being preferred), and the higher the numbers, the better they will make us feel and the more our ego will grow, but little else. Unless we integrate analytics with business results, None of these indicators (except the rate of conversion, if well defined), will serve us for nothing else than to recreate ourselves in the great uselessness of abundance. It’s no use having hundreds of thousands of Twitter followers, or millions of Facebook fans, if we are not able to turn information into knowledge. And I’m not only talking about selling, but about being clear what value our presence has on digital social networks. Whether it is to promote sales directly or indirectly, or to better understand the consumer, it is convenient to go one step beyond the basic performance indicators and deepen the 4 metrics that really give us the keys to what is happening.
How social media helps us generate a constant stream of income, or relevant information that supports decision making.
What impact do social media have on our sales? Apart from the conversion rate that can be known through the web analytics provider that we use, it is essential to have a feedback system, with which to link the offline sales that come from actions in social media. Only then will we know the true effectiveness of our presence in digital social networks.
The digital nomination: capture, Conversion and retention makes us very easily forget that in no healthy relationship is retained anyone. Customers are not kept, they are kept. Knowing the extent to which social networks contribute to it, will serve to value our presence in them.
If there is something that does not stop talking in the social sphere, it is the power of social networks to extend the recommendations and criticisms of people such as gunpowder. Although this obviously does not happen systematically, there is no doubt that working towards a well-defined direction, attending to the wishes and needs of the people and taking care of the customer experience will be contributing to the organic growth of our brand. Social networks, Give us the opportunity to monitor this growth and see which customers are attracting more customers.
These four metrics provide the foundation for a model to monitor the presence of a brand in social networks, and are the most useful because they focus on measuring the contribution of social networks to the real success of the business, not large numbers that do not say Nothing and there is no way to contrast in the bottom line.