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Social Media Metrics Secrets by John Lovett

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5

Chapter 5

Using the Social Analytics Framework

In This Chapter

  • Getting strategic with objectives
  • Introducing the Social Analytics Framework
  • Standardizing on foundational metrics and KPIs
  • Telling stories with data

Social media has introduced an abundance of new opportunities for businesses to develop closer ties to customers, enlist everyday consumers as brand advocates, crowd source support to the farthest reaches of the globe, and rely on consumers for innovation. Yet, these new methods of operation have the potential to create a paradigm of chaos if businesses attempt to chase down every social media opportunity that arises. Thus, organizations need a framework to assess ideas, create measurement game plans, and execute upon social media strategies that align with business goals and objectives. Although some skeptics may dismiss a Social Analytics Framework as unnecessary, I argue that any business that embarks on a social media initiative without quantifying the costs, risks, and rewards in quantifiable terms is destined for disappointment. This chapter details the process for using a Social Analytics Framework for planning, execution, and improvement of social media activities.

NOTE Concepts for this chapter and for the Social Analytics Framework were originally published in a white paper that I co-authored with Jeremiah Owyang of the Altimeter Group. Our work titled Social Marketing Analytics: A New Framework for Measuring Results in Social Media (www.slideshare.net/jlovett/social-marketing-analytics ...

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