Thank you so very much.
Your recent post on social media metrics was intensely gratifying to read. At Argyle we work day in, day out to blaze a trail in the social media marketing space. We’re trying to take social media and turn it into a real marketing channel, with all the data-driven rigor common to other digital channels.
The industry is currently, as you so delicately put it, beset by “sub-optimal” measurement practices. Most metrics used by businesses today are not insightful or actionable, and they don’t show a clear relationship to business outcomes.
Over the past two years, we’ve built a social media management system that measures exactly the metrics that your post outlines. And we make these metrics the center of the universe for every user. Take a look at the dashboard below: this is the first thing that you see when you log in. Especially note the composite metrics below each graph: clicks/post, interactions/post, value/post, interactions/follower, etc. That’s the good stuff.
It was gratifying to read your post because I’m fairly sure that you were unaware of our product when you wrote it, and yet you came to the exact same conclusions that we did as to how social media needs to be measured. That’s some serious validation that we’re onto something.
The one point that I’d like to add to your analysis is this: conversion tracking in social needs to be multi-touch. Last-touch conversion tracking simply doesn’t work for social media, since it is an intent-generating (rather than intent-harvesting) channel. Using last-touch conversion tracking, like GA, will under-report its financial value.
Thanks for making our day :)
The Argyle Team
PS: We may steal your terminology if that’s okay with you. “Amplification Rate” is a sight more memorable than “Retweets per Post”. What can I say…catchiness isn’t our strong suit.