Company’s put their focus and resources into programs that produce a high return on investment (ROI). As the social media manager you can use the 3As to measure how social media engagement supports your business objectives.
- Action: Business results of online outreach
- Attitude: Overall sentiment and relationship measures
- Attention: The overall volume of interest
Start by keeping a list of everything you can and must measure (see page 197 in Social Media ROI by Oliver Blanchard). You also need to tie everything you measure to business objectives. Most importantly, test, measure, learn, adapt and repeat. Blanchard also recommends looking at F.R.Y. (View YouTube video), which is frequency, or number of transactions per month; reach, or number of new customers; and yield, or total transactions.
Look at what each department is measuring and what measures should be reported on at the overall program management level. Compare apples to apples. Identify if you are measuring financial outcomes (weighing the Return on Investment – Gain-Cost/Cost) or nonfinancial outcomes – intermediate metrics that tell the story by capturing changes in customer behaviour.
You can measure Action by tracking the results of your company’s online presence. To do this look at your campaigns key performance indicators (KPIs) such as tracking website or online store visits, volume of purchases, event registration, attendees, higher customer service satisfaction, etc.
Establish a baseline of activity (action your customers/audience take) and outcomes. Next, create and share activity timelines that show how each department’s efforts overlap. This combination of activity will help you determine what information is relevant. For example if your company launches a Facebook page (Action) and the public responds by opting in and you see an increase in brand mentions (Attention) and an increase in positive sentiment (Attitude) you may also see that sales reported an increase in net new transactions. Using a graph you can plot the action, reaction, impact (outcome) and result (conversions).
Keep in mind that none of these measures and analysis can provide meaningful value without context. They must be viewed as part of a collaborative analysis. For example, as you explore results you may find that there are other factors influencing the sales reports such as a price drop, a positive product review, shortage of inventory, etc.
Measuring Attitude allows you to gauge audience connections to build better relationships. Tracking how people feel about your organization you can measure your audience’s emotional connection. To do this successfully you need to track sentiment, satisfaction and relationship to your brand through constant monitoring of your online presence. There are tools on the market but this is best done by humans. Only people can interpret context and tone to determine if a negative comment really is negative or if the comment is just worded in a way that appears negative to an automated tool.
One way to track sentiment is to review Facebook posts and likes, Twitter retweets and blog product reviews. Likes and retweets of positive sentiment could show an impact on sales. Using Twitter to respond to negative customer service issues could create stronger loyalty and retention that may lead to an increase in frequency and yield of customer transactions.
Measuring Attention allows you to look at your brands likeability with your audience. This can be achieved by counting followers, volume of blog traffic, rankings, number of posts, retweets and mentions on Twitter, links and likes. It’s important to connect these measures to the actions that are drawing attention. This will tell you what they like on Facebook or why they are following you on Twitter. This information helps you to maximize activities that receive positive action and continue to engage your loyal influencers.
By evaluating which social media activities are driving results you can understand what works, what doesn’t and why to justify investments and measure their value to your organization.
Check out this link that talks about the 5A’s of social media measurement (The Five As of Social Media Measurement).