The Art of Social Media Analytics, Part 3

Summer is the “off-season” for many of us in the arts world. Why not take this time to refresh your social media strategy? This is part 3 of our 3-part series on social media analytics tools. Check out Part 1 and Part 2.

The last part of our series concerns making management decisions based on data. Once you have the data, what do you do with it? As we come up with more sophisticated methods to track social media sentiment and reach, it becomes possible to track more accurately how people are responding to social media. This is especially important because social media can be a valuable part of your market research. It is like a 24-hour focus group, answering many of the questions you may have about your audience as well as the questions you didn’t think to ask.

As mentioned in Part 2, there are a variety of questions that you may have about your audience and a variety of tools that track different measures of success. Some tools are narrowly focused on one measure, while others give you a conglomeration of these measures. Some examples of the measurements of success include:

• Sentiment: Are social media users referring to my organization positively, negatively, or neutrally?
• Conversions: How many and which fans are buying online (or offline)?
• Spikes in activity or “buzz”: How are social media users responding online to campaigns?
• Impact: How many people is the message reaching and how much influence does the organization have? How many people are sharing posts?

When thinking about measurement tools and management decisions, the first question is often, when is it worth it to pay for analytic tools? As technology evolves to be able to track more specific and more valuable information, more paid analytics tools have come on to the market.  There are two basic instances where it’s worth it:

1) when you have a large customer base

2) when you need enterprise-level social media analytics

Firstly, if you have a large customer base or a large social media base (no hard and fast rule, but larger than 100,000) and you are literally having trouble monitoring comments on your brand, you need a tool that takes more of a summary view. Secondly, most paid tools are enterprise-level tools--tools that more than one person can manage or assign tasks to others and have other special features. If you feel you need this type of functionality, then paying for an analytics may be worth it.

Besides those two factors, a company should also consider the elusive “Holy Grail of Social Media,” return on investment, or ROI. Many organizations have found a “chicken and the egg” scenario of needing time and resources to show results (often, revenue), but needing results to convince upper management to spare the time and resources to devote to social media. This situation can be difficult; you might try proposing a pilot program or experiment with a cheap or free tool before proposing a larger investment.

One institution that has made a practice of using data to make decisions in social media (as well as investing in technology—check out their web and new media strategy) is the Smithsonian, under the guidance of tech guru Nancy Proctor. As one employee put it “why would you change anything without metrics and feedback?”

Once a company has the analytics tools in place it’s easy to observe your numbers of fans, interactions, and gauge the quality of those interactions. What’s more difficult is translating your observations into actionable decisions.

A simple example is that of David Horgan’s, eMarketing Specialist for Smithsonian Folkways Recordings. David had experimented with linking ads to their Facebook page and their homepage. “We found that the ads that direct people to our Facebook page (rather than to our homepage) were about 3x more effective on a cost per click basis.” Management Decision: Direct more ads to the Facebook page than the homepage.

Another example is the blogathon on the Smithsonian Collections Blog that Rachael Cristine Woody worked on for American Archives Month. According to Rachel:

Until that time we had almost solely focused on collections content.  In October we shifted to also cover our profession and offer a more behind-the-scenes look at what we do/deal with, every day.  These posts became the most popular posts we’ve published so far, numbering in the thousands for direct hits, and to this day still receive at least 100 hits a week.  It was at that time that I think the blog truly found its most invested and engaged audience, and it helped to call attention to us that we should be covering more on our profession.  Management Decision: In addition to giving the collections exposure, engage and influence the professional community by providing transparency, advice, and support.

The National Museum of American History combined traditional survey techniques with data from analytics tools (Google Analytics and WebTrends data, click metrics from HootSuite, etc.), comparing the results of four closely-related surveys on each of four major communication channels (their blog, email newsletter, Facebook page, and Twitter feed). Although more complex, the results allowed Dana Allen-Greil to make decisions regarding how the Smithsonian communicated with patrons:

At the National Museum of American History, we’ve long had a hunch that our Twitter feed should focus on conversational and educational content, rather than marketing in-person events. If our followers aren’t local, do they really want to hear about events they can’t come too? Click metrics from HootSuite plus data from a survey of our Twitter followers gave us solid footing to make the case against Twitter as a platform for driving foot traffic to the museum.  Less than 25% of responders reported planning a visit to the museum after seeing a message from us—this is compared with over 55% of email subscribers who said they did.  Even more to the point, less than 10% of Twitter followers reported attending an event compared with over 30% of our email readers.  We discovered a similar trend with our Facebook fans and have altered our content strategy accordingly. Management Decision: Use Email (not Twitter) to Promote Synchronous, Location-Specific Events.

More info on Dana's Twitter content strategy can be found here.

So there you have it. As much as social media can seem nebulous, there are specific things to measure, to think about and analyze, and then to make decisions that you can feel confident about. When you develop your social media strategy for your next season, mix things up a bit with some new questions about your audience, new tools, and a new perspective on the art of social media analytics.

Special Thanks to the following people for their contributions to this series: Michael Edson, Brian Hinrichs, Maggie Johnson, Katryn Geane, Kristin Garbarino, Devon Smith, Lindsay O’Leary, and Crystal Wallis.

The Art of Social Media Analytics, Part 1

Summer is the “off-season” for many of us in the arts world. Why not take this time to refresh your social media strategy? This is part 1 of our three-part series on social media analytics tools.

This is your brain on social media. Image from Your Social Move.

Social media marketing is an artistic endeavor as well as a scientific one. We use the right side of our brains to create the perfect message that will engage our audience and the left brain to crunch numbers on views, comments, etc. We know instinctively how to talk to our audiences, but we don’t always know how they are reacting to that message beyond a peripheral “feel” of the importance and sentiment behind the comment or action. There is often not an obvious way to categorize or quantify reactions to gain insights into your audience’s thoughts and feelings and to chart your own impact.

With the economic situation as it is right now, nonprofit employees are under more pressure than ever maximize their productivity and capacity. With technology, and social media in particular, as the most nebulous, mysterious, and constantly shifting elements of an organizations’ marketing/PR operation, it can be frustrating to track social media interactions and to gain resources from management for social media. Often initiatives face “death by delay” or end up being based on assumptions rather than data. At the Center for Arts Management and Technology, it’s one of the issues we talk about most often amongst ourselves and to clients.

It’s not just the arts, though.

In the non-profit arts world, we have the tendency to think that we are insulated and that our problems are due to a lack of time or resources. Some of these questions are ones that the social media field as a whole is trying to answer. While in the Masters of Arts Management program, I participated in a Social Media Analytics class where we had real-life clients. My team was working on the account of a major sportswear manufacturer. At first I thought that the questions that this company would have about social media would be very different than the ones that I worked on at the Center for Arts Management and Technology for our mostly non-profit arts clients. However, the more we worked with our client, the more similarities I noticed in the questions they asked about ROI, tracking, and analysis of social media initiatives.

Throughout the research that I’ve done and the conversations that I’ve had, I’ve heard social media right now described it as “the wild west”. Like web analytics was in its infancy, we are just now building the hallmarks and benchmarks for social media analytics. It’s an exciting time, and an extremely fast-paced one. If you have been keeping up with how businesses are using social media for the last five years or so, you’ve seen Facebook dominate MySpace, then Twitter edge its way in. As we moved to mobile, a slew of geo-location platforms arrived on the scene and now we’re trending toward game-based platforms.

As much as social media trends change, it is imperative to have a social media strategy, not just to spend your marketing dollars most effectively, but also to get to know your audience better. How do you get a social media strategy? You need information first. That’s where analytics come in. There is a wealth of information about your patrons hidden in their interactions on social media—like your own on-going focus group. But (A) how do you get to that information and (B) how do you draw conclusions from it?

A. As of today, what are your options for social media tracking? There are thousands of analytics tools out there and more being developed every day. Nonprofit arts organizations are faced with a dual bottom line: to serve the community and to create, present or preserve great art. Which tools are most useful to a nonprofit arts organization in gauging how they meeting the dual bottom line? In Part 2 of this series, we’ll take a look at some popular analytics tools and how to evaluate the tools out there given your organization’s more specific goals.

B. How can you use analytics data to make management decisions? There are many ways to slice and dice the data you might get from those tools. What are some strategies for using the current tools available? How can you make a confident decision about what is essentially a moving target? Given the tools and tactics in the above questions, when is it worth it to pay for analytic tools? In Part 3, we’ll address the problem of structuring your social media tracking efforts to find information relevant to your day-to-day decisions.