- [Reporter] Every social network has their own metrics
that are important but how do you
measure progress across channels
you have activity on?
One framework I've found helpful
for measuring the impact of social media across channels
was created by Avinash Kaushik,
the author of Web Analytics: An Hour a Day.
On his blog, Occam's Razor,
he talks about conversation, amplification,
and applause rates by measuring social engagement
as well as economic value.
Let's go through a definition of each one
and I'll walk you through a template
that I put together earlier.
So if you look at the template
you can see you have conversation rate, amplification rate,
and applause rate.
And to calculate these, we need these figures at the top:
the number of posts, the number of comments,
the number of retweets slash shares,
and the number of favorites slash likes.
So for Facebook, if you had 81 likes,
that number would go there.
Tor Twitter, it would be favorites instead of likes.
And doing this across channels
lets you compare even things like YouTube,
you know which has its own definitions of likes
or favorites, and its own definitions of shares or retweets.
So if we look at the conversation rate,
that's the first metric and probably most important.
And that is just the number of comments
divided by the number of times you posted.
So you can see here, the conversation rate
on Facebook is much higher than on YouTube or Twitter.
This is the most important metric
for social because comments tend to get
shown up in multiple people's feeds.
So it's usually more valuable in terms
of driving traffic to the site or driving brand awareness.
Amplification rate is also very valuable,
but people tend to retweet a lot less or, you know
share a lot less than they do comment.
An amplification rate is just the number
of retweets and shares divided by the number of posts.
Applause rate is the final one.
This is the easiest to get, but still valuable to measure,
which is the number of favorites or likes
divided by the number of posts.
So you can see that we have a very high applause rate
on Facebook and that's much slower on Twitter,
but yeah, pretty high on YouTube as well.
So this is really useful for measuring engagement rates
across different social networks.
But it gets really interesting is when you look
at the economic value from those networks.
So if you're doing everything right with tracking
you should be able to see how much traffic came
from Facebook, Twitter, and YouTube,
as well as how much revenue that traffic generated.
You'd be able to pull this from your Google analytics
or whatever analytics provider you use.
So you can see here that I got 177 visits
from Facebook and those visitors drove $658 in revenue.
So the economic value of a Facebook visitor is $3.72.
This is really important to measure
because you can see the economic value
of Facebook visitors is much, much higher
than for Twitter or YouTube.
And you'll typically see this,
different social networks, we work different amounts
when you look at the traffic.
Knowing how to do this is super important because
using this framework gives you a consistent answer to
am I doing a good job across every social channel
that you run for your business.