Spent some time on the pre-course recommendations today (as going on holiday next week to the non Wi-Fi friendly wilds of northern France, yay!). Made some notes and thought this would be the best place for them!
Main Takeaway: The areas that need more attention in a social strategy (or any strategy) can’t be gleaned from one compound performance metric. Show the company leaders a breakdown of the factors that contribute to the compound metric – force them to see the areas that need work by introducing a benchmark or target.
Quote: “Rather than “simplify” things and put five metrics into a blender and puke out an “easy to understand” number, my strategy would be to expose the focusing factors in order to encourage our leadership to look a little deeper to understand performance”.
My View: Numbers and formulas can scare me a little but Kaushik writes in a very accessible way to the non-statistically minded. Basically using compound metrics (such as Klout, PageRank or Domain Auhority) is a very limiting and narrow-minded way to assess performance. You need to breakdown the compound metric into focusing factors (the hard part I guess is deciding which factors to use?). It’s also important to deduce a benchmark or target for these areas, based on company goals and objectives, so that company leaders can see where more budget or attention is needed.
I really liked Kaushik’s terms for social focusing factors:
Comments = Conversion rate
Shares = Amplification rate
Likes & Favourites = Applause Rate