Saturday, June 5, 2010

Social Media & communities - What are the right metrics?

Here are my thoughts on three questions on Social media & Communities in a web analytics group:

1. How to attribute ROI to Facebook and other Social Media?

#1 Revenue from Facebook apps with same session attribution (meaning he came from Facebook apps and purchased on the same visit)
#2 Revenue from Facebook apps with multi-session attribution (meaning he could have come from Facebook property 30 or 60 days ago and bought today - give credit to the facebook app since he made our site familiar with him)
#3: Engagement Metrics: Remember this is an important component on CRM
Are folks writing positively about your company or not?
Are folks talking about your organization?

A big risk would be if folks stopped talking or discussing about you - implication - knowledge that your products and brand are no longer "hot"
Many negative posts - your newly launched product is not doing well

2. Is it right to target people this way? Privacy??

Gmail shows up advertisements based on keywords in email - So also do others. The site would usually have a clause asking the user if he wants to view advertisements on registration - so not an issue

3. Is the future bright?

Absolutely yes!!
Think of this - you come from a social media & communities site.
Where should I land you on my e-commerce site?
Should I land you on a good deal or on a product detail page of a standard product?
It is a mining & testing_targeting problem domain

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