ACtion Magazine - March 2016 - (Page 14)

Drowning in data? Choose social media metrics that help you make meaningful decisions. I t's official: We've entered the age of data. But like separating wheat from chaff, discerning what data is truly meaningful can be overwhelming. To avoid drowning in data, shops with a social media presence must be able to identify and use meaningful Web analytics that support their online efforts. "Understanding the difference between what metrics mean and which metrics are meaningful is essential to driving your business forward," says Tony Haile, the CEO of Chartbeat, a real-time analytics firm. The end-game is actions, not eyeballs "The real goal of social media content is to get the right information to the right people and have them consume it, understand it, learn from it and act on it," explains Haile. "There are many superficial metrics that can appeal to a business owner's vanity. They may make it seem like a business is gaining social traction. But in reality, they have little to no impact on business outcomes, such as turning views into customer conversions or other desirable business results." Besides clicks, other examples of vanity metrics cited by Haile include impressions, Facebook likes, amount/growth of followers and even pins on Pinterest. "Of the many metrics that measure social media data, the most telling and useful are those that lead to actual decisions and results," continues Haile. "In other words, when you see a metric, do you know intuitively what you need to do? If you don't, you're probably looking at a vanity metric. Best to look elsewhere. "Business owners, many of whom are still getting acquainted with being on social media, must be pragmatic and less egocentric. Learn to focus instead on more meaningful metrics that move the customer relationship needle or that help you improve facets of your social media business strategy." Angie Kilbourne Haile says these are the types of social media metrics that show how social media campaigns are performing, give insight into a shop's positioning, reveal customer behavioral and satisfaction levels - all of which can help a shop discern where and what to optimize or fine-tune in order to meet business objectives. Here are some examples of meaningful social media metrics he suggests: * Mentions are the amount of times that something is repeatedly "said" across social media (e.g. your shop name or your marketing campaign hashtag). Mentions help you understand how much or how little attention a subject is socially attaining, which can help you improve customer response time, spark engagement and shape your reputation on social media. * Engagements and interactions paint a picture about your brand online and the effectiveness of your social media content. Monitoring retweets, shares, comments and downloads provides feedback you can use to tweak content and campaigns and move them in the right direction. For example, which social media channels are best to use for certain types of customers, such as individuals vs. fleets. * Sentiment measures how customers feel about a brand or its products. It's at the very center of customer loyalty. When people mention you on social media, is the tone positive, neutral or negative? Identifying customer sentiment helps you create authentic messages that resonate with specific audiences to build trust, branding and conversions. * Conversion rates refer to the number of people who achieved a desired result. This could be paying for a product, signing up for an appointment or promotion, completing a form or any other goal you have set up for your campaign. Do your metrics help you make decisions? Stat: 55 percent of website visitors spend fewer than 15 seconds actively on a page. - Chartbeat.com 14 ACTION * March 2016 Meaningful social media metrics quantify and qualify human interactions with your shop. Your social platforms are where many of your customers feel comfortable enough to voice honest thoughts and opinions about your business, staff and services. It's honest feedback - data can be very revealing when careful observations are made. Be prepared to rewire your brain. Avoid vanity metrics that may feel good, but don't propel your business forward. Instead, start with a few meaningful metrics from the list above. They provide an incredible opportunity to rethink and understand what it means to connect, influence customers and build relationship. Then add others once you are more comfortable. ❆ http://www.Chartbeat.com

Table of Contents for the Digital Edition of ACtion Magazine - March 2016

ACtion Magazine - March 2016
Contents
Defining 'Service Ready' Because it Matters
Motor Age Top Shops
Outlook
Service Port
Leonard's Law
VIrtual View
Last Watch
Member Profile
Cooling Corner
Industry News
Association News
In Memoriam

ACtion Magazine - March 2016