Social media monitoring and metrics: The definitive introduction.
In the first of a three-part series, Cecilia Pineda Feret and Marshall Sponder provide a comprehensive rundown of tools, challenges and advice.
Perhaps you have heard of the terms ‘social media monitoring’ and’social media metrics’or analytics as it is sometimes known. There are those who are still trying to figure out how social media fits into their company’s strategy and may think these terms are interchangeable.
If you fall into this category, fear not. Most of the world still thinks this way as well, as more and more companies are quickly realising the importance of implementing social media along with monitoring and metrics of activity on these platforms.
Why monitor or measure?
Why would anyone want to monitor or measure the activity that refers to their product or service or even concept? Is there too much noise to make any sense of what is said anyway?
When you monitor, you are keeping tabs on what is already out there as well as the results of your own or others’ activity. You are collecting the actual information that your research runs across in the form of words and images: tweets, blog posts, comments, photos, videos and audio podcasts.
When you measure you are counting, tracking, noticing patterns and trends within this information. In short, you analyse the results of what you have monitored in order to help you connect better with your customer. Your messaging, competitive analysis, community building, branding, product development, even through crowd sourcing, and countless other tactics you implement to run your business effectively all benefit from your monitoring and metrics, which serve as a source of ideas, an inspiration, and a guide.