
Socialbakers.com describes itself as “the world’s fastest growing social media and digital analytics company” and claim “over 250,000 marketers as customers across all continents in over 60 countries”. We caught up with Katrina Wong, their VP of marketing to find out more about social media analytics and the future direction of one of the first companies in the world to have initial access to Facebook data.
FreshNetworks: So why do you think social media metrics are important for brands and businesses?
Katrina Wong: Social media has completely revolutionised marketing. If you think back to the days before Facebook, Twitter, YouTube, etc., the information and feedback a business got from its audience was via traditional market research and surveys. These were slow, costly processes. Now so much information about your target audience is available extremely fast and at your fingertips. You can get so much data and insight about your customers without much effort or work. That is super powerful.
FN: What does Socialbakers measure?
KW: We naturally look at the number of fans, number of followers, etc., but what we’re really focusing on is engagement – it’s so important to look deeper than at just the number of people on your page. It’s about what people are saying, how often are they saying it and drilling further into that. It’s about how often people are visiting your page, how long are they staying there, how often are they saying things about your brand. It’s about the level and quality of feedback rather than being just about numbers; that’s how I think about the engagement metrics Socialbakers provides.
FN: What do you think are the most important metrics to look at in terms of engagement?
KW: I think its really important to look at a mixture of fan numbers, likes, and comments on Facebook and be able to see that on a daily or even hourly basis. Are they liking AND commenting? Are they just fans who don’t interact? It’s important to look at the relationship between these 3 metrics.
FM: Without using the tool what do you think are the best ways to measure social media?
KW: That’s really the hard part. Facebook and the other social media platforms hold so much data and without a tool like Socialbakers, you’re really left to your own devices. You could just look at the data yourself, you can spend days on end manually counting likes, comments, retweets or whatever. You can do it, but if you want to be efficient, I’d seriously suggest using a tool or a platform like ours.
FN: Can you tell us a little bit about how Socialbakers works?
KW: We have two products. The first product we built was for analytics. This allows you to access, sort and export data very easily. One huge advantage for Socialbakers is that not only can you access the data for your company’s social media channels, you can access the data of your competitors and literally compare like with like, right there on the screen or in a printed report. Being able to monitor your competitors is powerful for a business that wants to stay ahead. Competitive insight is unique to Socialbakers.
The second product – what we call our Engagement Builder – is for social media campaign management. On one hand, you can manage your communication from one place – like scheduling updates – and assign responsibilities to your team members. On the other hand, you can create customisable Facebook applications for your page to engage your audience.
FN: Obviously you cover Facebook but what other platforms do you cover too?
KW: Google plus, LinkedIn, Twitter, and YouTube. With regards to Twitter, we can show the number of followers. We are looking at doing what we did for Facebook and adding that to our Twitter product — we’re working on this at the moment. We’re looking at country data, other location data, popularity on Twitter, etc.
We’re looking into how we can mine data from individual accounts as an aggregate for Twitter too. We’re hoping to replicate what we’ve done for Facebook on Twitter, as well as for all of the other social media platforms.
FN: Who do you see your main competitors to be?
KW: We get asked that a lot! We’re the only company to build a solution that interfaces with all the publicly available Facebook data rather than just interfacing with a subset of data. When I think about that, there’s no other company that does that.
FN: How far back does the data go in Socialbakers?
KW: The data goes back a few years, basically as long as we’ve been monitoring and we were monitoring very early on with Facebook.
FN: Aside from the platform developments you’ve already mentioned, what does the future hold for Socialbakers?
KW: From a product perspective, we have such a close relationship with Facebook that whenever they bring out something new, we’ll be able to develop something for it and usually the first to launch. Sometimes we’re one of four companies that they work with them in this way, so we’re definitely one of the first to know about something new. We’re lucky we have history with them and this puts us in a really great position when it comes to Facebook and leading social media analytics.