Social media is exciting, and is finally being embraced by franchise organizations. Many are beginning to test the waters, albeit very cautiously. Some have been pleasantly surprised and wonder why they didn’t venture in this direction sooner. Others, have been quite confused but are reluctant to give up. Perhaps if they could quantify and analyze their efforts, they would be more confident in their efforts. But where do they start?
First, they must understand some key factors regarding the metrics of social media in order to be able to plug in numbers that make sense. Certain elements of social media metrics need to be defined, that may ultimately convince them and the rest of their management team, there is value in creating “noise” online.
So, let’s take a look at key social media metrics as the first step towards quantifying and analyzing social media efforts. Once understood, it will be easier to track trends and results.
Volume – The number of comments, blogs, posts, tweets, links, etc., about the brand, the competition, and the industry segment.
Sentiment – The positive, negative, or indifferent consumer reaction to the brand or a topic, which can be measured by text analytics and natural-language processing.
Emotion – The reasons that a consumer felt, good, bad, or indifferent that point how the company can resolve his / her problem or how the business can change and improve.
Topic / Issue – The context (e.g., product, customer service, advertising, competitor, etc.) in which the brand is being discussed. Nielsen’s Brand Association Map helps visually associate the relationship between terms; a Google AdWords keyword-expansion tool helps improve the relevancy of the company’s selections.
Source – Where the conversation is occurring (e.g., Twitter, blog, discussion board).
Author (Influencer) – The people talking about the brand and their social media impact (e.g. number of followers, readers, commenters).
Virality – The reach of the brand and relevant topics around the brand (e.g., how many people are reading, posting, linking, and sharing).
Source: Alex Burmaster, Nielsen Online