Data Driven: Social by the Numbers
The first thing that comes to mind when considering data's role within social marketing is Web analytics. Social marketing, as a new marketing term that has evolved during the past decade, can be defined as "communication opportunities between consumers and businesses that use the Internet as a platform." As all this communication is taking place between Internet URLs, it makes sense Web analytics would form the foundation of data's role in this powerful medium. So let's discuss three actionable opportunities for data's role in social media:
1. Guiding Investment Decisions
The most interesting thing about data's role, relative to investment into social media, is most of the data evolves from clickthroughs for each social media site and how the key performance indicators (KPIs) that are important to your brand compare between the various sites.
Social media sites are still primarily awareness and acquisition tools—where traffic is driven to them, as well as through them to other links.
Here are some of the fundamental metrics to measure both into and out of social media sites:
• Visitor Summary: unique visitors, percent of new visitors, average time on site, pages per visit, page views, bounce rate and conversions.
• Traffic: search engines, top URLs, branded search, non-branded search, paid search, organic search, bounce rates and conversions.
There are already many social media sites and more are arriving every month, it seems. Data's first role is to provide a science around which sites should be the focus of your marketing budget. Objectives must be set, establishing priorities, and then social site performance can be measured. Review the chart below for examples of the above data points and how different objectives can support investment into social media.
When working on figuring out your data's role in social media, be sure to assign your own objectives to the various KPIs.