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What do we analyze when tracking Twitter users?
If you have a client who is on Twitter, you will need to know how it’s doing and what’s the evolution of their main KPIs. Tracking users on Twitter is one of the most important things on Social Media. And even more important, you will need to compare it with its competitors. There are many metrics we need to considerate when tracking Twitter users, at Tweet Binder we have developed a new tool that focuses on these Twitter metrics:
- Ratio Followers/Following
- Economic Market Value
- Economic Engagement Value
- Received Retweets
- Likes obtained
- Received Replies
- Certified user
- Age of the account
All these metrics will help us seeing how the user is doing on Twitter. Of course, these are dynamic metrics they change with the time: the number of Twitter followers will (hopefully) increase, as well as other metrics. So we need to control these everyday and check the evolution being able to compare it with the competitors of the user.
What metric is more important when tracking users on Twitter?
This is a very tricky question because all those metrics are important and sometimes some will be more significant than others. For example, if the goal of our client is to grow its followers base, we’d need to check the “followers” metric. However, if the Twitter user just launched a campaign, we’d need to focus on the engagement received since we want people to get involved in the campaign.
The influence of one account is not determined by the number of followers. This is something that every social media manager knows (or should know) because having many followers does not guarantee sales or engagement. We need to mix those metrics to value the performance of the account. That’s where the economic values of the Twitter user’s tweets have a very important role. The economic values are created based on one unique algorithm created by Tweet Binder that focuses on two important aspects:
- How much is one tweet from one Twitter user worth in the online advertising market
- How much should one tweet from one Twitter user be worth, taking the engagement of the user in consideration
When one company starts a campaign of paid media on Twitter (Via Twitter ads or pay-per-tweet platforms), it is not promised any engagement, it will pay based on the audience it wants to reach. However, Tweet Binder developed the Engagement Value, that will be the amount of money you should really pay that account to tweet about your brand. Why? Because we take the engagement of the Twitter user in consideration. You can calculate your engagement value from this new Twitter users tracking tool.
So, when somebody asks about the most important metric when tracking Twitter users, we must say “it depends”, but for us the engagement value will be one of the bests. However, we are developing a new one that mixes all these standard metrics in one. We will release it by the end of 2018.
How do we start tracking Twitter users?
Tweet Binder is releasing a new tool that will track Twitter users easily. The most important thing is that this new tool will focus on the two major aspects we talked about before:
- Evolution of the metrics of a users
- Comparison of the user with its competitors
The steps to start will be very easy:
- Add user to the tracking system
- Tag user as “client” or “competitor of your client”
Once we set these easy steps, the system will start gathering the data everyday and will be showing the info on a private dashboard. The tool is set to start in October 2018.