We’ve been talking a lot about putting context around your analytics and how important it is to match your metrics to your goals, but it’s difficult to get very specific because there is no one-size-fits-all answer. With that still in mind, we’ll break down some more specific examples for readers who want a better idea of where to start.
And if you’re a customer, we’re always happy to help you set everything up in a completely customized way.
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Your goal: Increasing share of voice in your industry
This is a common goal for a lot of brands, who want an edge over their competitors by being heard more often, which leads to having an authoritative, trusted voice in your industry and can help you be top-of-mind for consumers. So what steps do you need to take to increase share of voice (SoV) and what metrics should you concentrate on?
- Determine the competition: Choose a few competitors to compare your own brand to
- Determine your queries/keywords: Brand handles, hashtags, misspellings of your brand and competitors; consider all of it for each platform you’re tracking on
- Collect your data: If you’re thorough with the previous step, you should avoid any major data collection issues but remember you need enough to get a good grasp on your changing SoV in your industry
- Determine which metrics you’ll concentrate on: Reach is an important metric for SoV across social platforms, and you might concentrate on others depending on the platform and the data available there
Why reach? It’s a good measurement of potential, or how much your message is getting out there vs. your competitors.
You might also want to look at contributors to build a comparison of how many fans and followers are contributing to the conversation about your brand in your industry vs. other brands.
Your goal: Building your community
A lot of brands turn to social in order to either build their community or strengthen their existing community (which we’ll discuss more in a minute). If this is your goal, your approach will be a little different.
Reach is still important to see how far your message is spreading in your industry and therefore reaching potential community members, but concentrating on something like owned vs. earned tweets will tell you more about who is talking about your brand that might want to become part of your community.
Look for metrics on each platform that tell you how big your community has the potential to become vs. how big it is right now. Then you know what kind of gap you’re working to close. You also want to look at metrics that tell you how engaged your current community is so you can keep them around and inviting their friends to join— which brings us to our next section.
Your goal: Strengthening your existing community
Here is where engagement metrics are key; you want to know what is resonating with the fans and followers who make up the community around your brand. Which posts are generating higher-commitment engagement actions, like comments, replies or shares— especially shares that involve added commentary? (Lower commitment engagement actions include likes, etc).
These kinds of responses show that your community found this content compelling enough to respond to it and/or even share it to their own audience.
It’s difficult to get really specific in a way that’s helpful across brands and industries, so we always recommend anyone with specific questions reach out to us, especially if you’re a customer. That way we can discuss your goals and which specific metrics you should concentrate on in order to get there.
If you’re not a customer yet, check out our plans— we’ve got something for every level.