Meaningful Measurement: The Impact of Social Media

January 7th, 2014 | Posted by Colby Cox in Social Media

It should come as no surprise that companies are working at feverous paces to gain a better understanding of the unstructured data that social media provides. Companies are searching for ways to measure and understand social habits of  fans and brand advocates along with a myriad of social activities to advance the company’s position. One of the best ways to do this is have a solid understanding of what you are measuring along with benchmarks to know you are advancing at a productive pace.

In conjunction with DC Week 2012, the NVTC Social Media Committee hosted an event focusing on; “Meaningful Measurement: The Impact of Social Media”. We were joined by speakers from comScoreR2integratedPew Research along with our event moderator Chris Abraham who shared with us some great statistics and insights we can all take advantage of.

Sara Goo (@sarakgoo) of Pew Research kicked off the event with a fantastic Prezi focused around the recent elections that highlighted some key statistics to keep in mind.

  • Who is using social media? – 69% of all American adults (doubled since 2008)
  • ‘Dual Screening’ – 11% of viewers of the 1st Presidential debate used both TV and a mobile device or computer.

Carmela Aquino (@caaquino) of comScore presented next and discussed how her company is going ‘beyond the like’ while providing some key Facebook statistics. Carmela mentioned that measuring your message is very important for direct fans, but don’t forget the impact that ‘like’ has on their friends.

  • 1 Facebook user can virally amplify your message to 80 friends.
  • 40% of Facebook time is on the newsfeed while only 12% is on the profile page.
  • 1 in 6 minutes is spent on a social network

Dave Taub (@davetaub), the co-founder of R2integrated, gave some fantastic advice when he said “Social is a behavior, not a channel.” When companies accept the fact that social interactions should not be viewed simply as another channel but as a chance to truly impact their customers, fans, etc., then they will truly understand the meaning of social media.

I leave you with two questions that came up during the Q&A portion of our discussion. We would love to hear your responses for future posts and a possible event discussion.

Do blogs still play an important role in social media?

Is ‘Behavioral Modeling’ the biggest need for brands to succeed in social media?

Check out some of the pics from today’s event on the NVTC Facebook Page.

- Colby Cox, Director of Sales & Business Development, RepEquity Inc.

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