Tourism IrelandSocial Equivalent Advertising Value
What should we be measuring? A tale of Facebook
ook hit 750 million users, they didn‟t make a song and dance about it. Why?“Because,” says Mark Zuckerberg, “it‟s not the statistic we think is important…”
“The last five years have been about getting people signed up to Facebook.
The next five years are
going to be defined by…
On Facebook, user engagements with a brand are varied and numerous including brandpage views, post views, page likes, content likes, comments and shares, plus views of video,images and audio. These engagements share the characteristic that they involve contentconsumption and/or broadcast, but they vary in depth.To meet the need for a measure of return on social investment, any tool must reflect thesedifferent levels of consumer engagement and find a means of attributing a financial value toeach. In an attempt to do just this, we developed the concept of Social Equivalent AdvertisingValue (SEAV).
How have we defined SEAV?
While social media delivers multiple analytics/insights, value for other e-marketing mediavehicles is based on two established measures
Impressions and Click-throughs.Impressions are valued on a cost per thousand basis, the standard for all media. Click-throughs are valued on a cost per click, the currency for search engine pricing.
You can‟t evaluate social
media in the same manner
on these two measures as it wouldn‟t go
near to capturing the full range of conversations or actions taking place. However the conceptof impressions and clicks (or actions) is analogous to much social behaviour.By distilling the range of possible interactions that a user can have with brands on socialmedia channels, we identified that most social engagements could be classified into foursimple categories
each designed to distinguish progressively deeper levels of consumerengagement:1.
Views of brand posts in a social medium.2.
Views of a brand owner‟s social platform.
Consumption of brand content through an action such as a clickon a photo or video or a link.