6 Tricks for Adding Social Media Metrics to Your Marketing Dashboard
For marketers who've figured out how to measure social media marketing results and have an organization-wide marketing dashboard in place, there may only be one more step to complete: Adding the social media metrics to the dashboard.
Here to provide advice on how to do the integration well are:
- Zach N. Hofer-Shall, an analyst covering social intelligence for Cambridge, Mass.-based Forrester Research;
- Wayne Morris, chief executive officer of Louisville, Colo.-based software-as-a-service marketing dashboard company myDIALS; and
- Fajr Muhammad, search manager for Philadelphia-based direct marketing agency TPG, an Omnicom/DAS company.
1. Before adding social media metrics to the dashboard, figure out what metrics to use. Muhammad adds that marketers must also determine how they will measure return on investment in order to "solidify the performance and benefit of any social media program."
Morris says, for marketers who view SM outreach as an aspect of integrated marketing efforts, the following metrics may apply: "Number of people we are attracting, Twitter followers and Facebook fans for example; level of engagement, [as in] tweets, retweets, mentions; quality of engagement, [including] positive tweet/retweet sentiment [and] Facebook Likes; conversion, [or] referrals to the company's website from Twitter and Facebook; conversion quality, [such as] bounce rates, page views and time spent on the site as a result of referrals from Twitter and Facebook; [and finally] conversion could also go further by tracking referral source through to a sales order."
Don't forget, Morris adds, to set goals and have key people "proactively review the dashboard" to ensure the targets are being met.
2. Support traditional measurement with social metrics, Hofer-Shall says. "Don't fall into the hype-trap of social media," he adds. "The data online conversation creates is only as valuable as the metrics to which it's compared. So avoid looking at social media data in a silo. Try combining social metrics with Web analytics data, survey data or other traditional customer data."