Blog Archives

Online Media Monitoring

We received a visit from Stephen O’Leary, founder of O’Leary Analytics, this is an online media monitoring and analysis company, so if businesses want to know what is being said about their company, themselves, an event and competitors in the online media this is the place to go!

Stephen first explained to us what his previous work was and how he ended up founding O’Leary Analytics. He was first working for a company that sold software and he provided training for the clients, these clients tended to forget part of their training, lacked enough time to monitor their own media or found it too complicated. They requested that Stephen would look after this for them.

Stephen mentioned the process behind monitoring and explained the importance of keeping track on what’s happening on  blogs, forums, news sites and, of course, all major social networks. He explained how companies can make a difference when they listen to what their customer say and not only provide answers but also realise the improvements they can make. The objective is to find a way to change the negative comments by some  into a positive. Stephen emphasised that companies need to be actively responsive to criticism.

Brian McFadden superquinn sausagesAfter talking about collecting data, he also talked about what is the best data to analyse, how to find out who is a companies biggest influencer  and how wide their reach is. An example for this was about Superquinn sausages and how Brian McFadden generated a lot of buzz in a day by saying that the Irish community in Australia need their sausages. This message was re tweeted 91 times and the amount of people talking about it peaked greatly.

In addition to this, Stephen mentioned that almost everything can be measured, even sentiment analysis can be generated, but in Ireland this can be difficult as people tend to be a bit cynical when making comments online.

Stephen recommended a series of websites that can facilitate online media monitoring:

Advertisements

Measuring Social Media

In this weeks class we covered social media measurement, this can be difficult to look at without having clear objectives for the business.  These measurements are done through analysing the following:

  • Reach: Page views,  followers, likes and subscribers on social media.
  • Actions: Likes, shares and retweets.
  • Level of interaction: Engagement (comments).

A lot of brands do not use any form of social media metrics, as shown below:

It is important to consider the platforms that you are using and measure the relevant information. For example, how many people come to your website through a social media channel like Twitter or Facebook? This can be seen using Google Analytics.

Measure of influence is another important piece of information that you can obtain through measurement: Who is the person that drives the most attention? whose posts are shared or liked the most? These are people who know about a certain topic, and share relevant information, they don’t waste time with irrelevant posts or messages. Tip: Search for these people on Linkedin and find out more about their industry.

Measuring engagement is possible, it is easy enough knowing how many likes, shares, retweets and replies a business profile or page gets, but it is also easy to see how many new likes or follows businesses gain. Facebook insights allow you to view these easily, for Twitter there are other available tools (7 top tools to measure performance and influence on Twitter). Another way to find out how much influence a person has on Twitter would be by the obvious, the amount of followers they have but also in how many lists they have been added to by others (this last one is not the best metric because not everybody uses Twitter Lists).

Gender and age are another important metric, as businesses sometimes need to know who is their target market and this can be seen through Facebook insights and it looks as shown below:

These sort of insights are also available through Youtube Insights Tool.

Another way to measure is by monitoring, doing so will allow you find out what others are saying about the brand and addressing these can have a positive impact. There are many tools that allow you to monitor your brand: 20 Free Social Media Monitoring Tools You Should be Using

Earned Media

This week’s class covered earned media, also refered to as free media. This consists in publicity gained through non-advertising promotional efforts through things like press releases, PR agencies, contacting journalists and placing stories with news outlets.

It is considered free media for some because it also consists on worth of mouth as customers become the advertising channel. Third party recommendations from friends and contacts are more credible and transparent than paid opportunities.

How to gain “Earned Media”?

  • When a business creates interesting content (owned media) on their blog, those blog posts are much more likely to be shared by your readers, becoming earned media.
  • Same thing applies when messages are used on social media channels such as Twitter (with retweets) and Facebook (share button).
  • This is a great tool for SEO. While the search engines love fresh content but more than that it is much more efficient when the content is being shared constantly, so the more times your owned media is shared, Liked, retweeted and posted the more valuable it becomes. Without owned media becoming earned media, the content created is not as valuable for SEO as it could be.
  • Generating “PR” or “getting coverage,” people still trust what it gets broadcast or published by traditional media.
  • Contacting high profile bloggers to write about the brand, service, product, etc.

One of the challenged of Earned Media is that once the content is available for the audience, businesses are no longer in complete control of their content. Much like social networking, earned media places the power of your brand in the hands of your consumers.

Monitoring Earned Media:

  • Using TweetDeck allows you to monitor Twitter activity and follow up on any mentions and interactions related to the business.
  • Google Alerts are email updates of the latest relevant Google results (web, news, etc.) based on your queries.
  • O’Leary Analytics they focused on monitoring brands mentions in online publications, quantify and qualify the results of your PR efforts, nationally and internationally.
  • Blog Statt. Blogger and WordPress provide a measuring tool as well.

Key Performance Indicators (KPI)

KPI CartoonKey Performance Indicators (KPI), also known as Key Success Indicators (KSI), help businesses define and measure progress toward their goals. These must be quantifiable measurements in which results define the success of the business strategy (based on the business priorities).

KPI’s are useful because they reduce the number of decisions that are based solely on instinct or gut feel and make decisions based on objectivity and facts. These quantify the achievement of goals by setting, monitoring and measuring against a target. As businesses grow, it becomes harder to stick to the important achievements that are requered. KPI’s also allow brands to focus on facts when things get out of control.

ICE

One of the problems with KPI’s is that instead of identifying the information that’s needed and subsequently design the most appropriate indicators to assess performance, people often use the ‘ICE’ approach: Identify everything that is easy to measure and count, Collect and report the data on everything that is easy to measure and count and finally End up scratching your head thinking “What the heck are we going to do with all this performance data stuff.

It is recommended to focus on three or four measures that are essential to the business reaching its goals. It is important to keep the number of KPI’s small to prevent distraction. A common mistake is to measure everything when the goal is to measure just one thing that will lead to achieving the successful goal.

To sum up, KPI’s are achievable through the following steps:

  • Be specific: pertaining to the goal of the brand.
  • Make it measurable: for the brand to analise its progress.
  • Make the goals achievable and realistic.
  • Be relevant when directly linking the business and metrics.
  • Consider Time Frame: placing goal achievement in a certain time frame.

Consumer Behaviour Measurement

This week’s class was about measuring customer behaviour. This is very important for marketeers, as it lets them know what the consumer’s wants and needs are and how they behave.

Understanding consumer behaviour is essential to the development of marketing strategies. Companies need to be able to analyse  where, when, why and how consumers buy.

So how does measurement work? current technology helps to analyse activity across a variety of digital platforms and systems to quantify consumer behaviour online, analysis of online audiences, advertising, video, media, word of mouth, etc. Often measurement fails due to lack of resources, budget and not knowing what exactly what needs to be measured.

A marketer needs to first identify his target consumers and understand their lifestyles, psychologies, income, spending capabilities, mentalities so they can be offered the right product/service. Marketeers must also take into account their age group, geographical location, lifestyle and social status.

Consumer Research Methods: Market research is often needed to guarantee that we produce what customers really want and not what we think they want. There are two types of research that can be carried out:

  • Primary Research: Primary Research refers to a research methodology where marketers interact with consumers directly and collect as much information as they can. This information is generally gathered through surveys (online surveys are frequently used in Ireland), questionnaires, feedback on-site or forms, social media (also used greatly by marketers in Ireland), mobile analytics, interviews etc.
  • Secondary Research: Secondary Research often refers to relying on information which has been collected by others at some point of time (Data bases and Website logs).

Tools to Measure Reach and Audiences: 

  • Google Analytics: Lets users measure sales and conversions and gives insights into how visitors use  a site, how they arrived, and how to keep them coming back.
  • Web-logs: Works as a web analytics software, server log file from a web server, and based on the values contained within it produces indicators about who, when, and how a web server is visited.
  • Alexa.com: Provides free web-metrics it shows successful sites on the web by keyword, category, or country. It also offers analytics for competitive analysis, benchmarking, market research, or business development.
  • Using Internet Audience Measurement such as Irelandmetrix.ie.
  • Depending on how your company or brand is engaging in social media, there may be other metrics that should be factored into audience engagement. The additional metrics will likely come from the various social media channels that are outside of the ones listed above. These could include Facebook, Twitter, Blogs, Diggs, StumbleUpon likes, LinkedIn group activity or followers, social bookmarks, etc.