• Sean Mitchell

    This area of metrics definitely seems to have an opening for a few companies to service this space.  The only one I know off hand that does it at a enterprise level is spredfast.com

  • Michael Kolbey

    Great post very interesting..

    I got 5000 friends on FB…How do i go about monetizing them?

    What will be step 1?

  • ndawkins

    Hi Sean, Social Snap provides a Top Content report that shows total interactions and categorizes different types interactions into segments (communications, endorsements and distributions).  The user can sort by channel (Facebook, Twitter, etc.) or by the type of engagement (for example if you wanted to see the content that is shared the most across all channels, you would sort by distributions).  We think that this is an emerging area of measurement that is going to be increasingly important to social media marketers, so we are investing significantly in this area.

    I would very much like to hear what you and others need/want in these types of reports!

  • ndawkins

    Hi Michael, that is an excellent question.  The first step to understanding how to monetize in the future is to understand whether you are monetizing NOW — in other words, are your Facebook connections buying from you? If so, what do they buy, how often do they buy and how does this compare to customers who are not connected and/or active with your brand on Facebook?  (If you want to know more about how this is done, get in touch with me directly.)

    If you want to directly monetize, you are probably going to have to
    delve into the world of campaigns ( offers, events, contests, etc.). I would suggest taking a look at some campaign examples that are specific to your industry/products/services (I’m not sure what you are selling?).  How to monetize will depend on what you are trying to sell, what you can offer to prospects and customers through Facebook that they find valuable, and many other factors. There is no cookie cutter approach to monetization – how to do it (and whether direct monetization is possible or even advisable to attempt) will vary widely across verticals. 

  • http://www.whoislisalomas.com Lisa Lomas

    I would be highly likely to use any tools that made this job less time consuming, I do not agree with the manual way as it takes too long. However you make a highly valuable point in the fact you must measure.

  • ndawkins

     Hi Lisa, if you are looking for a tool to do this, I hope you will check out the Top Content feature in Social Snap.  For those who have more time than money, creating an analysis with an excel sheet for a limited time period is certainly better than no analysis at all!

  • http://twitter.com/HelpMyTeenager HelpMeWithMyTeenager

    Thanks for valuable information. One of the few articles I’ve come accross that allows for manual analysis for those who are not yet making enough money for lots of online tracking tools!

  • WilliamWynn

    I love the new Google Analytics Social Reports. It really does make this much easier by providing data on traffic to shared pages. Great article by the way!

    http://socialmediastrategyplan.com

  • ndawkins

    William, question for you:  Are you doing a lot of sharing on Facebook and Twitter?  If so, do you still see the shared pages report as valuable (since sharing on FB and Twitter aren’t included)?  For me, I find that report very useful in terms of what is happening to visitors that hit ANY shared page, but because Facebook and Twitter aren’t included, I don’t find it useful in helping me to determine which shared content is resonating the most (in other words, I can’t see the value in using it as a way to rank which shared content was most successful since it is missing a lot of the content that was shared).  Just wondering how you and others are interpreting/using this report — would love feedback.

  • http://twitter.com/SocialJulio Julio Fernandez

    Great article Nan, thanks! I wonder how long it will take for enterprise social relationship management platforms to come down in price (and time) for small business owners to use. With Oracle’s acquisition of Vitrue, the new Adobe Social and the aggressive work by Salesforce.com, we should see new solutions soon. But you are 100% right: manual analysis via a spreadsheet is better than no analysis at all. I’ll take a look at Social Snap! Thanks again,  Julio

  • http://twitter.com/ctreada Chris Treadaway

    I’d argue the major players don’t want the SMB segment.  It’s highly fragmented, and quite frankly as a whole most SMBs act as if they’re broke.

    There is a huge battle brewing over analytics/measurement in the Enterprise because brands are dumping so much money into Facebook ads, social software, etc.  And right now, at least on Facebook, the source of the data to tell you how well you’re doing is… Facebook or some abstraction on Facebook Insights!  

    Don’t get me wrong… I don’t distrust Facebook, but there is a lot of power in the data itself.  That’s how we’re approaching it at Polygraph.Chris TreadawayCEO, Polygraph MediaCo-Author Facebook Marketing An Hour a Day

  • ndawkins

    I think you will see more vendors creating a range of pricing as the industry matures.  The lower end of that range will be affordable for some.  Our low end seems very affordable, but the definition of “affordable” will certainly vary.

  • ndawkins

     Chris, can you expound on your comment about the battle brewing?  Or can we talk directly?  Interested in hearing more of your thoughts on this. 

  • http://www.it-sales-leads.com/ Barbara Mckinney

    Hi Nan,

    Thanks for the post!

    I agree to that users are bombarded with content.  “As a result, they
    are tuning out the noise and raising the bar on the content they choose
    to pay attention to.”This becomes a challenge to most of the marketers. It all goes down to the right choice of tactics to be used in order to hooked more readers that will turn into customers. With the right choice of strategies this can be easily go through.

    Barbarba

  • http://engag.io/ William Mougayar

    Ironically, Facebook will monetize your friends way before you do. But if you’re a business and have tons of fans on a Facebook page, then you indirectly monetize by marketing to them.

  • http://engag.io/ William Mougayar

    Shameful plug, but smack in the middle of social engagement is Engagio. It filters out the replies/mentions/discussions, so it lets you figure out engagement more easily. http://engag.io

  • Brett Cornell

    What are communications and distributions in the IPRV calculation – basically outbound and RT or distributions of other content? Great article. I liked reading your impressions of the GA tools as well as how you can get started tracking easily.

  • ndawkins

      Hi Brett, at Social Snap we define distributions as any sharing action
    that occurs (a retweet, a share on FB, etc.) in various channels.  In
    general, communications tend to be things like replies on Twitter,
    comments on Facebook, comments on YouTube.  For more on the GA Social
    Reports and what you can do with them, check out
    http://www.socialsnap.com/blog/2012/05/the-new-google-social-reports-3-missteps-to-avoid/.