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Competitive Benchmarking - In Your Inbox

Joshua March
By Joshua March on Sep 26, 2011 4:15:00 PM

A big problem for many of our customers is benchmarking their performance against competitors. Social media is still relatively new, and is growing so fast that there are no established rules of thumb for what KPIs you should measure, or what counts as good.

 

A lot of companies fall back on how many fans they have; but this is a very crude measure. Most of the time on Facebook (and Twitter) is spent in the newsfeed - not on brand pages (with the exception of when fans go to a page specifically to complain or ask a question). For marketing, therefore, getting high visibility in the newsfeed is key to success; and fans are only one part of the equation. The other part is the level of engagement your posts receieve. The more comments and likes your post gets, the higher the 'EdgeRank' score Facebook gives it, and the more fans will see it in the newsfeed. 

We created IPM  (interactions per thousand fans) to measure engagement relative to your fan base. Inside Conversocial, this allows you to track how well your updates perform over time, even as your fan base is increasing. Outside Conversocial, we launched the Profiler as an easy way for anyone to benchmark their IPM performance against their competitors. The profiler looks at all the updates the page has sent in the past 30 days, and how much engagement the updates received relative to the fan base. As well as the average IPM for all posts, the profiler breaks this down by content types, so you can see exactly what type of content (photos, videos, links etc) are performing across the pages. 

Now, the Profiler has become even more useful. After creating a set of profiled pages, you can now add your email address to receive the updated fan number and IPM stats for the pages every week, direct to your email inbox. You can sign up multiple times to profile as many pages as you want. This will make it easy for you to stay on top of all your competitors, in an easy format that you can forward to your team mates. 

Profile your competitor pages now. 

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