When polled 88% of marketing professionals said they couldn’t accurately measure the effectiveness of their marketing campaigns and the majority said lack of ROI measurement is their single greatest frustration with social media (Forbes).
If you look at the left side of the graphic you’ll see the easy, traditional measurement of followers, RTs, FAVs & replies. And of course you could add up impressions by counting your the followers of everybody who had retweeted plus your own.
Clicks are also a simple measure that you can get from basic link tracking packages.
End of story. That’s all “top of funnel” analysis that leaves you flying blind as a marketer. It is what is commonly referred to as “vanity metrics” as in, “Look at how many more followers I got us! Or Likes – LIKES! Woo Hoo.
Of course it’s valuable to know how many clicks you drive. But if you want to be able to repeat your success on your next campaign you need to know more about how you drove those clicks:
- Which social platform were they published on?
- If you sent multiple Tweets you’d want to know which time of day was more effective
- Which followers drove your RTs that drove your clicks
And so forth. Understanding what lights up actions from your social campaigns and earned media is the key to improving future performance.
Even still – we have only scratched the top end of the funnel actions. What you really want to know is which campaigns drove “bottom of funnel activities” such as: Purchases, newsletter signups, subscribers, comments and so forth in the same way you’d be tracking this on Google Analytics for your SEO / SEM campaigns, direct referrals, etc.
awe.sm (I have been an investor since 2009) has always provided these data through an API to allow developers to have social analytics embedded in their products or for internal use in their organization to drive more effective campaigns. Customers have long included some of the biggest names in social commerce and online gaming plus startups like TopSpin, Local Response, Maker Studios, StockTwits and the like.
But until recently we had not made these tools available to non-technical people – namely marketers who want to control their campaigns without necessarily wanting to call in the IT team to implement tools.
Today awe.sm has announced that it has built a visualization and analytics tool for marketers at agencies, brands or frankly any business that has a need to more effectively run social campaigns. It was built in pilot with BMW, HP and one huge, beloved entertainment company here in LA that I guess was a bit gun shy to include their name in our announcement.
So now even if you’re not technical you can get a little awe.sm, a solution targeted at businesses.
The other major pilot customer was
I have been using the basic awe.sm visualization tool for 2+ years so when they told me they were building a new sweet of tools designed for marketers I was all over it. I’ve tried every product on the market and hadn’t found any other tool that met my needs so to have a chance to ask for what would make me more effective? No brainer.
Here’s a screen shot of my home page on awe.sm
And from data you can start to discern … do I get more engagement when I Tweet with Twitter images or Instagram ones? Do I get more clicks if I ask a question in my Tweet text before my link or make a statement? If I Tweet something 3 times do my clicks start to diminish or is it a function of reaching more people who weren’t paying attention 3 hours ago due to time zones. And so forth.
If I sold stuff or drove other major actions (like wanting to increase media page views, video views, etc.) the data would be a lot more important to my bottom line. As it is I have been able to determine who drives the most clicks for my posts and how many page views each of those commensurate readers stick around for once on my blog.
(Cross-posted @ Both Sides of the Table)