What Are Analytics? A Guide To Practical Data

Friday, March 12, 2010 3:30pm
Presenters:
Margaret Francis – Scout Labs
Blake Robinson – Attention

Description:
Analytics are often a confusing and convoluted mess, but that doesn’t mean that they have to be. The Guide to Practical Data will help ensure you’re reaching your full analytical potential. Learn how to analyze public and proprietary data to accelerate the success of any initiative. Featuring detailed demonstrations from top bloggers, corporate execs and analysts.
Twitter: #whatareanalytics

Why bother with social media analytics?

• Analytics are essential for understanding what’s going on in the world of social media
• Analytics are critical for tying social media expenditures to business outcomes
• Analytics are the key to mainstream social media marketing into the larger organization

What should you expect to get out of this session?

• Examples of real social media analysis
• Insight into the tools and techniques theh "experts" use-free and paid
• Ideas for how to measure and analyze your own social media programs

Benchmark your mentions to what their competitors are getting, when there aren’t solid numbers.
Measure marketing impact with trackbacks, or sales.

Basic Metrics (what is going on?)

• Number of mentions, by type, source, or channel
  (right now, the data is a little difficult to access – i.e. no full twitter data)
  A way to monitor is to pull an RSS for a search or hash tag from twitter into Google Ready and it will give you aggregate data.
• Key themes/ emerging memes from conversations
  It’s very difficult to break out key themes, and scale it to read it all (stops at about a dozen).
• Most viral content, as measured in links, retweets, traffic, views
  "measuring the magic"
• Top sources, as measured by volume, influence, engagement or relevance
  what does top mean for you and your brand?

Visibility is key

Engagement – Engagement Metrics by Site from PostRank
PostRank Analytics – aggregate number of tweets/diggs/etc. for a site.

Twittercounter.com

Insight Metrics (how does this drive my business?)

• Share of voice, compared to competitors
• To sources, as measured by volume, influence, engagement or relevance
• Sentiment
• Brand perception
• Product feedback
• Campaign reception   

Business Metrics (how do i actually correlate this with money?)

• Most viral content, as measured in links, retweets, traffice, views
• Campaign performance: views, traffic, reach
• On site conversions, e-commerce and others
• Correlation with sales
• Product extension ideas