Social Media Measurement

Social media measurement is an integral part of a business’s horizon. A business’s inputs and outputs can be measured in two methods, the first being vanity metrics. These statistics indirectly affect a business such as likes, comments, shares, followers etc. By having a bigger fan base, as a rule, the probability of people purchasing your product will rise. The second method of measurement is business metrics and these consist of Downloads, applications, sign –ups and purchases referrals. These stats can be monitored and can affect a business directly. For example, when people purchase a product or download an app, it affects your business directly whether it is through an economic standing point or a promotion outlook. Although vanity metrics are not as essential as business metrics, it is still important to take into account comments and opinions that are raised by consumers. The reason being is that consumers may be unsatisfied with what is being produced and they may be unhappy with prices etc. This is a method of ‘knowing your target audience’ as I stated previously in the Snapchat article. A case study on the Palms Hotel showed the franchise commencing in a month long campaign to promote the franchise. The campaign consisted of the company performed a critical analysis on the vanity metrics of the organisation. They then adopted a new look to the website by introducing the Ecommerce approach (“businesses and consumers buying and selling products online”) to their brand. By doing this, the company generated three sales, which came to a total of $900 from just ONE Facebook post.

YouTube

Founded in February 14th , 2015, YouTube is today the biggest global video-sharing website. Three PayPal employees Chad Hurley, Steve Chen and Jawed Karim shaped the revolutionary website. In November 2006, Google the website was purchased off the three men for a staggering $1.65 billion U.S. YouTube is ideal for promoting business and/or brand because almost 5 BILLION videos on are watched daily. In 2015, the top paid YouTube celebrities made a combined total $54.4 million U.S. Although, to make this kind of revenue you must use strategies that are and will be affective when trying to promote an organisation or brand. A perfect example of a Brand name utilising YouTube to their benefits is GoPro. What is GoPro? GoPro is an American technology company manufactures extremely high-resolution videos cameras, designed to captures first person moments for those that seek adrenaline rushes. The camera can be mounted on surfboards, motorbikes, helmets and equipment can be purchased such as head straps and chest straps to get a more realistic first person view. GoPro can relate to YouTube in the sense that GoPro can record a video and YouTube can promote that video for you. YouTube gives you the ability to create your own profile. Videos you post, playlists and channels all appear on your profile, which makes it easier for people to locate videos or genres. GoPro have upwards of four million subscribers and four diverse channels promoting different types of cameras in order to target specific markets and audiences and potentially create a bigger artificial fan base. In 2007, GoPro managed to raise their sales revenue to a staggering $3.4 million U.S. which is a huge leap from the previous year that only raised $800 U.S. According to the GoPro website, YouTube today Is ranked #1 on the Brand Channel Leader board. On the GoPro profile, links to other social media platforms are accessible which again gives the franchise a larger fan base and this is an advantage as it broadens the adherent’s interpretations.

Pinterest

Pinterest is an app that not too many people are familiar with. It was created in 2010 for sharing hobbies and interests through imagery. This app is used by women mainly aged from 25-40. Similarly to the previous spoken about apps, Pinterest s most popular content ranges from fashion, food, sport and tech. Pinterest can be beneficial for businesses as the app is designed to bring people together through their shared interests. This means that businesses or brands can present their products, price and share ideas or opinions that have relevance to a post. Pinterest had a massive influence on online shopping as 93% of the 100 million ‘pinners’ (active Pinterest users) proceeded to shop online in the past six months. Negatives to take into account when using Pinterest is that the community is not as big as the one Facebook, Instagram etc. There are a number of fake accounts implemented in order to post fake brands. A franchise that has taken Pinterest under their wing is well-known intercontinental luxury Hospitality Corporation. Felicia Yukich (brand marketer and content strategist for Four Seasons Hotel and resorts worldwide) quoted that “Pinterest is transforming the way our guests plan their trips, share ideas and select travel destinations.” Four Seasons Hotels was actually the first brand to implement the Place Pins strategy (this is an option on the app to ‘pin’ destinations that you would like to travel to and if prices fluctuate, you are notified instantly). There was a 1000% increase in the number of people visiting the site daily, which resulted in an increase in the average number of people re-pinning the Four Seasons franchise by 900%. The website increased by 1700% due to Pinterest. It is evident that this franchise has utilised this social media platform to the best of their ability.

Snapchat

Similarly, to Instagram, Snapchat is a free mobile photo and video sharing and messaging app. Three men that go by the names of Evan Spiegel, Bobby Murphy and Reggie brown, founded the app in 2011. Unlike Instagram, Snapchat videos and photos can last up to only 10 seconds. In contrast, there is the option to post a photo that is viewable by everyone on your friends list, for an unlimited amount of times only but the post disappears after 24 hours prior to being posted. You can post as many stories as you wish. In 2015, the U.S Mobile Study reported that people aged from 18-34, spend 6 hours per month on Snapchat. If you compare these statistics to Instagram where 7 hours a month is spent and Facebook which resulted in 25 hours a month. In terms of business, Snapchat is not remotely advanced as Facebook or Instagram but it is on the rise towards making Snapchat beneficial for marketing purposes. Kim Kardashian would be the best example of an individual using Snapchat to their advantage. Growing up in Beverly Hills, California, born on October 21, 1980, Kim is a model, reality television star, entrepreneur and socialite. With over 62.9 million Snapchat followers, it relatively easy for Kim to convey any message that she feels is necessary and/or relevant. Kim Kardashian, in my eyes, is classified as a snapchat genius as she knows her target audience and knows exactly what her followers want to see. Kim is also consistent in her posts in ways that she posts regularly, her content is creative, and never really, the same as her posts vary from her to her famous husband Kanye- West, which keeps her adherents intrigued. In a recent ‘snap story’ (A snap you can broadcast to followers (recipients can view it an unlimited amount of times in 24 hours, and you can also post multiple snaps to your story in one day to create a narrative of sorts) she recorded herself getting a tattoo but did not reveal the final product. By Kim not revealing her tattoo, she has drawn her followers closer into her without him or her even knowing because now everybody’s question is, “what is the tattoo of?” Genius if you ask me.

Instagram

Instagram, a free app that was launched in 2010 for the purpose of capturing, sharing pictures and sharing videos instantly. It has more than 400 million monthly active users, so for industries that are trying to target the generation Y era that are obsessed with fashion, sporting clubs, schools, universities, clubs etc. For example, an astonishing 96% of fashion brands use Instagram. Instagram does not just stop with pictures and videos; the application is constantly striving towards findings ways for business and brands to advertise. For example, in January 2016, Instagram brought out the feature of being able to advertise your company on Instagram in a way that it shows up on every active user Instagram feed. Instagram has very few limitations and/or risks involved such as the fact that when building a business or brand, it is extremely time consuming. In addition, you have the risk of fake accounts and bots, so when trying to resolve these issues it also is time consuming pogbaand costs money. A prime example of a company that has utilised Instagram to their advantage would be Adidas. Adidas have 9.8 million followers and post-daily using superstars from around the world whether they specialise in sport or music. In a particular photo, Juventus prodigy, Paul Pogba is seen holding one of football boots he will be playing in for the 2016/17 season. This is a promotional strategy implemented by Adidas in order to boost sales revenue and follower base. When people see that a person of Paul Pogba’s calibre, they immediately think that the product will influences their performance in positive ways or they will purchase the product purely so they can say they own the same ‘pair of shoes’ a famous human being. They have utilised the Instagram feature to its full potential by posting clear, large pictures of professional athletes and the product they are trying to sell.

Facebook

Social media is the backbone of many organisations, brands and small businesses. The reason being is that social media can be utilised as tool to promote and advertise through platforms such as Facebook, Instagram, Twitter, Pinterest, YouTube and Snapchat. According to the statistics portal, the sports industry compensated for 70% of the $60.2 billion that was spent on sports sponsorship worldwide. Facebook is the biggest platform for social media as 1.13 billion people log onto Facebook every day. The WSL (World Surf League) are a prime example of a franchise utilising the benefits of Facebook. 4,951,845 people like this page, which is a large fan base for a franchise that was introduced in 2015 as the WSL. The WSL have utilised this platform immensely in ways that they post clear videos of surfers on huge waves, competing in the WSL events from all around the globe. The WSL also promotes up and coming events and give detailed outline of data about competitors. E.g. their riding styles, Age, Origin etc. WSL posts highlights, pictures and results of events that are being held or had previously been held and they post upcoming events, sales and relevant news about weather conditions, absentees etc. This means that if somebody wishes to analyse results or check times that their favourite surfers are riding, they can do so by simply jumping on the Facebook page. The WSL have used social media to their advantage in more than, as they have also developed their own application that is accessible on Desktops, Smartphones, iPad, Tablets etc. This application consists of all the information listed on the Facebook website but broken down to make that information easier to interpret.