Welcome back to This Week in Social Analytics, our ongoing summary of some of our favorite posts from the past week in the world of measurement, analytics and social media. Enjoy!
Best Social Media Metrics: Conversation, Amplification, Applause, Economic Value
Avinash Kaushik proposes a framework for measuring social media using four distinct metrics, independent of the social channel being used. These include: conversation rate, amplification rate, applause rate, and economic value.
Do Your Analytics Cheat the Truth?
Michael Schrage at the Harvard Business Review warns that executives should be careful of analytics presented in a way purely to generate influence and win arguments rather than to generate insight. When using analytics to gain understanding of the dynamics of a business, make sure you understand the data “outliers” – and make sure analysts present the full picture that the data tell.
The Hidden Costs Of Social Media
Ron Shevlin discusses how with social media, the incremental cost of communicating with customers and prospects is zero. This has changed the way ROI is measured with new media as costs have shifted from message distribution to message creation and understanding which messages are most effective.
Social media ROI: It’s not about immediate results
Cheri Macale at The Next Web, summarizing Gary Vaynerchuk, describes measuring the ROI of social media as more like trying to measure the ROI of your Mom. Results are not immediate, and social media should be used to generate quality leads, engage with customers, and create the voice of the brand.
A pitch for PR to focus more on owned media
Deirdre Breakenridge writes about how PR professionals shouldn’t only focus on securing earned media. New content is getting added to a brand’s owned media arsenal every day. By working with all of a brand’s content, PR pros can help their clients tell an even broader story.