Social Media Metrics
Size Isn’t Everything!
This point is similar to the idea … is it quantity or is it quality?
But, in the case of understanding social media and optimizing your social media metrics, it’s not good enough to just look at the volume of conversations.
If you know that 100,000 people are talking about your product recall … that would not be a surprise … given you had actually just had a product recall!
Or, maybe your brand or service is just one that ‘everyone’ talks about every day … because it is something that is used very frequently, has a long-standing history or has become a regular part of conversation.
It is important to ‘go beyond’ the numbers … and through enhanced Social Media Metrics (not just monitoring) … look at Sentiment and Passion. In fact, it is so advanced, we call it Social Media Market Research!
Sentiment is … a rating of how people ‘feel’ about your brand or company.
In Social Media Market Research, sentiment can be measured by the following types of comments which are being written by your brand’s customers …
In the case of a Sentiment Analysis, we can take the customer’s comments and turn them into a five-point rating scale. Then a comparison can be done which shows your brand’s ‘Top 2 Box’ score versus the score achieved by your competitors!
Now that’s providing superior social media metrics!
This can be measured in social media as follows:
- At one point in time
- Comparison between competitive brands
- Measure different personality characteristics of the brand
- Measure different features preferred or not preferred by people
- Discover co-branding opportunities
- Identify slang associated with your brand
Passion … how much people talk … and what they say … and how strongly they say it!
This is why looking at Passion is important …
Let’s use ‘product recall’ as the key words we are studying in our social media metrics …
- Are people angry about your ‘product recall’?
- Are they supportive of the ‘product recall’ decisions you have made?
- Are they in the hospital because you did not implement your ‘product recall’ quickly enough?
- Do they think this ‘product recall’ will ‘kill’ your brand?
In a recent study of the PAIN RELIEF CATEGORY … the social media metrics were eye-popping!:
- Tylenol generated the largest volume of online conversations
- Excedrin generated the most positive conversations
- Aleve generated the most passionate conversations (but it shares the online space with Tylenol and Advil)
- Aspirin suffers from both low passion and the most negative sentiment
- None of the brands inhabited the most coveted ‘Golden’ quadrant: Positive sentiment, High Passion and High Volume
The Volume of the conversations is not enough … you need to ‘go beyond’ and look at Sentiment and Passion …
WHAT WE CAN DO FOR YOU …
When implementing your plan to do Social Media Listening … and Advanced Social Media Metrics … we can help you use the MOST sophisticated, yet the most cost-effective tools available on the market. We help you ‘go beyond’ to get more!
The first step in this process is to identify ‘how much’ is happening out there, in terms of social media metrics, in the last 12 months for your areas of interest. This will allow us to identify whether or not there is ‘enough data’ to do an analysis and report out some meaningful information for your organization and its products or services.
Identify what diseases / conditions you want to cover, the specific drugs or services in question, and your prime competitors. Do this from the perspective of all of your customers/stakeholders … use the language of physicians, patients, government officials, etc.
We can then run ‘counts’ on the last 12 months of social media metrics data to see what is feasible. That will allow us to provide a more realistic proposal.
So you know, monitoring specific drugs or services with Social Media Metrics can be tricky – people tend to refer to “my heart pills” or “his diabetes medicine” rather than specific brands. So, again, please think about consumer-friendly words, as well as medical terms. However, if you tell us ‘what’ you want to look for then we can take a view from there. At this point in time, the more things you can add to the list, the better. We can narrow it down later!
We look forward to hearing back from you! Turn your social media metrics into a robust analysis with Social Media Market Research!
© 2011 Health Connexions™. All Rights Reserved.
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Health Connexions™ specializes in helping organizations address their issues and opportunities related to Key Opinion Leaders and Organizational Change.
Whether it is market research, strategic planning, program development or better understanding of the Key Opinion Leader interaction within an organization or health system, we are here to help you navigate the changing healthcare environment.
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