social media measurement

“Five Steps to Measuring Your Social Media ROI” and “Shoppers Take to In-store Video Ads”

From Ad Age – “Five Steps to Measuring Your Social Media ROI”

Numerous surveys among marketers have revealed that demonstrating social media ROI has been a challenge.

Metrics can vary, e.g. fans, followers, retweets, shares, traffic, referrals.

The author offers five steps to better measure the effectiveness of social media efforts:

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From VentureBeat – “Shoppers Take to In-store Video Ads

Research into Digital OOH has been expanding. Eye-tracking software and scanning technology now make it possible for marketers to see what kinds of ads people are watching and which parts of the screen they view.

Millward Brown conducted a study last month, among the notable findings:

Checkout lines are the most hated part of shopping.

Most customers are interested in watching screens.

Nearly half of customers are more likely to shop at stores with screens.

See more » http://venturebeat.com/2016/04/17/study-shoppers-take-to-in-store-video-ads/



Finally, Guidance on Social Media Ratings

The Media Rating Council (MRC) has issued an official set of social media measurement guidelines.  In conjunction with the American Association of Advertising Agencies, the Interactive Advertising Bureau and the Word of Mouth Marketing Association, the MRC has released an in-depth 40-page document, which outlines common practices.

Also participating in the development of these guidelines were social media vendors, publishers, measurement organizations, ad servers and ad networks. In addition, the guidelines were reviewed by buyer-side trade organizations.

According to this article in Media Life Magazine, these guidelines cover methods used for measuring a number of types of social activity, including tracking and counting users accessing content within social media, interaction and/or engagement with social media content,

and consumer “listening” and sentiment.  The guidelines also cover the measurement of user-generated content and video.

The article includes these excerpts from the guidelines:

“In order for a user-action to be considered part of social media audience activity it should be trackable/measurable (publicly or privately), fall within the campaign time period (for campaign level or advertising counting) or defined measurement period and include all valid traffic.”

“Examples of trackable/measurable user-action may include interaction (clicks, shares, retweets, likes, favorites, etc.) with social media content, application downloads or social shares from a brand website to social media platforms.”

The Media Life article also provides a direct link to the guidelines.

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Despite Measurement Concerns, CMOs Continue to Increase Social Marketing Budgets

CMOs continue to have concerns about the reliability of social measurement.  Only 15% of marketers surveyed believe they currently have the proper tools to prove the effectiveness of social media according to a survey of 255 chief marketing officers by Duke University’s Fuqua School of Business.

Despite these concerns, marketers expect to allot 23.8% of their budgets for social media over the next five years. According to Christine Moorman, a professor at Duke University’s Fuqua School of Business, and the Director of The CMO Survey, “Closing the measurement gap is an area that companies must address if they are going to move social media into the canon of marketing strategies.”

Among the factors contributing to these concerns: most advertisers are still in the learning phase, and nearly a quarter of social media activities are being performed by outside agencies.

Additional findings from this study:

-Social media spending is currently 10.7% of marketing budgets.

-Marketers rank their integration of social media in the overall marketing plan at 4.2 on a 1-to-7 scale.

See all 5 Cups articles.