Tracking Metrics in Social 3.0

Nancy Lim in AdWeek: “…Facebook is the world’s most popular social network, with incomparable reach and real value for marketers. However, as engagement on the channel increases, marketers are in a pickle. While they want to track and support valuable experiences on Facebook, they’re unsure if they can trust the channel’s metrics…..Marketers’ wavering trust in Facebook metrics warrants a look back at the evolution of social media itself.

At social’s advent (Social 1.0), metrics focused strictly on likes and comments. Content simply wasn’t as important as users learned to build social profiles and make the platform work for them.

Then, Social 2.0 invited brands to enter the fray. With them came the new role of content as a driver of top-line metrics.

Now, we’re in the midst of Social 3.0, where advancements in the technology have made it possible for social channels to result in real ad conversions.

When it comes to these conversions, it’s no longer all about the click. There’s been a marked shift away from social interactions of the past, which centered around intangible things like likes and engagement-based activities. Now, marketers are tasked with tracking more tangible metrics like conversions. Another way to look at this evolution is from social objectives (likes, shares, comments) to real business objectives (conversions, units sold, cost per sale)….

To thrive in Social 3.0, marketers must provide more direct channels for responses with lower barriers of entry, and do more of this work themselves.

They must also come to terms with the fact that while Facebook often feels like an owned channel, it’s first and foremost a platform designed for consumers. This means they cannot blindly put all their trust in Facebook’s metrics. Rather, marketers should be partnering with available third-party technologies to truly understand, trust and drive full value from Facebook insights.

Call tracking provides an avenue for this. Armed with call tracking software, marketers can determine which campaigns are causing Facebook users to pick up their phones. For instance, marketers can assign unique call numbers to separate Facebook campaigns to A/B test different copy and CTAs. Once they know what’s working best, they can incorporate that feedback into future campaigns.

Other analytics tools then provide a clearer picture. For example, marketers can leverage insights from Google Analytics, third-party data providers or other big analytics tools to learn more about the users that are engaging. Such a holistic perspective results in the creation of more personalized campaigns and, therefore, conversions….(More)”.