With over 30 million followers (six and a half times the population of Ireland), Lady Gaga is the proverbial ‘Queen of Twitter’. But is this astounding figure as impressive as it once was? According to a report carried out last year by StatusPeople, 71% of Gaga’s then 29 million followers were ‘fake’ (created by spamming computers) or inactive (real people who ‘consume’ rather than share information). The report concluded that the real value in a twitter following is how many retweet.
Keeping this in mind, when it comes to your own social media, do you know what to measure and why you are measuring it? A simple way of figuring this out is to have a clear SM plan in place using the following model;
By firstly identifying what your intentions are, for example you may want to identify a new target market (TMS) of 18-25 year olds who will engage with your brand. Thus articulate your objectives i.e. increase brand awareness by 100%. You can then define which KPIs are most important for you to track during a given campaign.
Once this is done, you can decide which metrics will allow you to do so. First, break down the user journey into Awareness (who knows about it), Appreciation (brand engagement), Action (the required behaviour change) and Advocacy (word of mouth- the user becomes the channel). Second, measure your hard (the financials) and soft (user insights) metrics under these headings.
Finally, benchmark your results against previous SM campaigns, similar SM channels, offline activity, competitor activity and industry averages. This will give you a holistic view of the success rate of your campaign.