I actively blog, tweet and speak about best practices in social media monitoring, measurement, engagement, customer service and customer expience. With that, I get a lot of questions, and I start to see patterns in what the most needed areas for education are. So I’ve decided to start a weekly tips edition, where I make a short video in under 5 minutes and deep dive into a narrow topic that has to do with social media monitoring, measurement, engagement, customer service, collaboration, SocialCRM, and others. I’m happy to introduce the first video “Share of Conversation”. Also known as share of voice (check out the Altimeter report on social media metrics), this concept has been adapted from traditional advertising metrics to match the reality of social business. You should watch the whole video, but here’s are some brief takeaways:
- Share of voice is the % of conversation about you (total conversation about you and competitors should add up to 100%)
- You need to know your share across all social media, as well as by medium (Twitter, blogs, discussion forums)
- You need to know the same about your competitors.
- If your competitors outperform you in a certain medium, dig in and find out why
- You need to track your share over time
- It’s also useful to track your share of all positive conversations across the industry, as well as negative
- If you aren’t getting the results you want, go back and examine what’s not working, and what’s working for the rest of the industry
- When looking at what other companies are doing, don’t be a copycat, but rather create something original and buzzworthy, something of value
I hope you come back for more of my weekly tips!
