Over the past couple of months, we’ve been fortunate enough to spend time with some of PR’s top measurement minds – the likes of @kdpaine, @shonali, @webmetricsguru, and @tmarklein to name a few. As a homage to these great measurement leaders, I thought I would share
some of our own internal monitoring & measurement practices.
First of all, a little background on our PR/marketing efforts. We’re a start-up. We’re small and nimble and have been bootstrapping for a while. This means that our marketing/PR budget, while not $0, is certainly NOT high. We don’t have an agency and don’t partake in any paid media efforts (partly due to budget reasons, but mostly by choice – we don’t really believe in paid media). Everything we do is focused on “earned media” and is handled in-house (mostly by the force known as @courtv).
As you can imagine, our marketing/PR efforts are centered around influencers. From a very early stage, our strategy has been to identify the top influencers in the PR space (more specifically, those influencing conversations around PR & social media measurement) & develop relationships from which we all might benefit.
Many moons ago, we generated a dynamic list of the top influencers in our space. Over time, we have added to this list, refined it, and customized it to make it our go-to list of influencers. All of our marcomm efforts start with the people on this list.
WHAT WE MONITOR
Again, as a start-up, we don’t really have the resources for big, “general” monitoring efforts. And even if we did, we probably wouldn’t prioritize it. We’ve come to believe that general monitoring isn’t very valuable – especially for us. We know that 70-80% of the content on the social web is junk (either literally junk/spam/spiders; or false positives; or simply unimportant) – so we don’t place a lot of value on scouring the web for every mention of certain keywords.
We, in part, built our Influencer Monitors to help with our own monitoring efforts. We figured that if we had a targeted list of people that we cared about, it’d be valuable to know if and when they posted about us and/or our competitors. And this is the foundation of our monitoring efforts. With our Monitors, we get daily updates of any posts, from our influencers, in which they mention ‘Traackr’ or our competitors. Between several of us on the team, we check in on this monitor every day. Some posts require action, some are just informational. But all are important.
Beyond this, we don’t do much else in the way of monitoring. Yes, we monitor Twitter for anyone mentioning Traackr (using Hootsuite and Tweetdeck) and @courtv still looks at Google alerts…but with much less frequency than she used to. We have just found our Influencer Monitors to be much more powerful/efficient for us.
WHAT WE MEASURE
In terms of what we measure, we try to practice what the great Katie Paine preaches and focus on the things that matter most. We focus on just a few things because, with our limited resources, we really need to limit our scope to what we consider either (a) actionable; or (b) correlated with the ultimate goal of our marcomm efforts – Incoming Sales Leads.
By far, the Number of Incoming Sales Leads is our most important metric and we measure it on a weekly basis. The other things we measure include:
- Strength of our relationships with our key influencers
- Online mentions of our brand generated from our influencers
- Traffic to our dot-com site
We consider these things “building blocks.” They represent things that are highly correlated with the number of incoming sales leads we get. They also are things on which we can have a fairly direct impact. Let’s take a closer look:
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Strength of our relationships with our key influencers
I realize that this is a highly subjective, qualitative metric that doesn’t even seem open to measurement. But we measure it. We give subjective ratings to each of our influencers – from “No Relationship” to ”Aware – Fan” to “Aware – Hater” & others. And we count these ratings on a monthly basis. Obviously, not totally scientific, but it gives us a sense for how we are doing with our goal of generating strong, positive relationships with the important people in our space. It also gives us interesting, actionable insights. We dig deeper into the trends and the specific cases. Why does she hate us? Why does he like us? Why won’t he respond to us? What can we do to improve on this? Actionable stuff.
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Online mentions of our brand generated from our influencers
As I mentioned before, we monitor these mentions, but we also measure them. Meaning we count them and review the trends over time. Are we getting coverage from our influencers? At what rate? Are they positive, negative or neutral? What are they responding to (or not responding to)? What does that spike mean? Can we do more of that? Again…all actionable stuff.
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Traffic to our dot-com site
This one we track as it serves as a gateway to sales leads (our incoming leads all start by requesting a demo on our website). But I have to say, we don’t scrutinize this metric as much as others. Sometimes it’s interesting, but most of the time, it doesn’t provide the short-term, tactical insights that we are looking for on a monthly basis.
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Number of incoming Sales Leads
As mentioned earlier, we measure sales leads on a weekly basis. We measure total number of leads, and more specifically, the total number of qualified leads. And we tie the “quality” of our sales leads on a weekly basis to our influencer outreach efforts – constantly tweaking our efforts based on these end results.
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WHAT WE DON’T MEASURE
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One important & interesting point is that we DON’T MEASURE general social media stats. This means we don’t measure the number of times Traackr is mentioned on the general social web. We don’t count every tweet, blog post, Facebook comment, etc. for a couple of reasons.
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First of all, we don’t have time. Second of all, we don’t really care. We have found that the mentions from our top influencers and the strength of those relationships provide a much stronger correlation to ultimate sales leads. So, while we monitor mentions all over the social web, we don’t measure them. I have no idea how many times we’ve been mentioned on the general web over the past 3 months. And I don’t really care. However, I do know how many times our influencers have mentioned us during that time. This is what we measure because this is actionable data that highly correlates with sales leads, which is ultimately what really matters to us.
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Thanks again to all the measurement minds that motivated this post and continue to help us refine our monitoring & measurement practice
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DS