Some Initial Social Media Benchmark Insights

 Spredfast got some nice coverage from the folks at Mashable last Thursday in a roundup of “5 Superior Social Management Tools”. Meghan Peters specifically called out Spredfast’s focus on social media analytics and benchmarks. Right on. This is definitely one of our big focus areas.

How am I doing? How do I compare? Every one of our customers asks us this. We ask ourselves this question. So we decided to start benchmarking. Here is how we do it. We start, of course, by tracking every bit of activity, enagagement and reach across thousands of customer initiatives running on all the big social networks. We can categorize that data on two dimensions – industry and initiative objective. For industry, customers self-select from 33 different categories. For objective, customers self-select from among 11 different categories ranging from Brand Awareness to Service and Support. Then we do some math. And then we give you access to the benchmarks within your analytics in Spredfast.

 

Here are some initial thoughts from our benchmarking work:

 

  • One of the first benchmarks we started tracking is Engagament to Activity ratio, where activity is defined as communications created and published into social channels like Facebook and Twitter and engagement is defined as interaction with that content, such as clicks, comments, retweets, etc. This Benchmark Ratio across all industries and objectives is 66 engagements per activity.
  • In general, clicks are the most predominant form of engagement taken by people reading the content. In all but 4 industries, the benchmarks for Engagement to Activity and Clicks to Activity Links are nearly the same, meaning that virtually all of the engagement received is a click-through.
  • The 4 exceptions are the Entertainment, Political Candidate, Publishing and Travel Agency industries, which experience a significant amount of other engagement, comprised of interactions like comments, replies, retweets and the like. These industries tend to run initiatives oriented toward awareness building versus customer support.
  • Awareness building initiatives are more likely to drive engagement because the content is designed to solicit response. Customer support initiatives, by design, have shorter conversations where the social support rep is addressing the issue with one response or taking the conversation offline. However, there are plenty of other industries that are running Awareness oriented initiatives that seem to be driving clicks over comments.

In the coming weeks, we will be cracking open more of our benchmarking data – we realize this is just scratching the surface. If there are specific areas where you want benchmarks or if you have some explanations, please leave us some comments.

Image credit: http://www.flickr.com/photos/jezpage/

 

 

Social Media Initiative managed by Spredfast

 

 

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