Frequently Asked Questions about the SPE
Social Page Evaluator FAQ
1. What are the variables in your Social Page Evaluator calculation?
The Social Page Evaluator takes into account a brand’s Like count and the quality of its Wall interactions in the form of brand posts, fan posts, frequency of commenting, frequency of post “Likes” and an implied targeted advertising CPM rate. It is important to note that more is not always better with respect to post frequency, rather there is an appropriate overall balance, often specific to the brand's vertical market.
2. Is the Evaluator mostly about “Like” count?
Like count is certainly important when assessing the value of a brand’s Facebook presence, but the most important takeaway from the Evaluator is how a brand can improve the value of its social marketing based on a fixed Like count. Ask yourself "What if I never got any more Fans? How can I maximize the value of my social relationship with the fans I've got now?" We believe that improving the level of engagement you have with your existing fans will not only grow the value of those fans, but grow your fan base as well.
3. Why did you build such a tool?
Our mission at Vitrue is to provide marketers with what they need for effective social media marketing. Facebook was not built for brand marketers-- it was created for people to connect and communicate with past and present friends-- but the social graph that Facebook has helped to create is a naturally valuable asset for any brand as people share their experiences and preferences with each other simply because they're human. Because of this, Facebook has become an extremely effective platform for brands to communicate with their consumers, and Vitrue has built enterprise software and applications that enhance the management and execution of these communications. Doing so for major brands across nearly every vertical market has put Vitrue in the unique position of truly understanding all of the marketing potential of a brand's Facebook presence. Providing the Social Page Evaluator is Vitrue’s way of sharing that unique knowledge with the marketing community.
4. Was this tool primarily built to drive brand marketers to believe they need Vitrue’s software products?
Not at all. The Evaluator was built to help brand marketers accurately evaluate their presence on Facebook and determine areas of potential improvement. Whether a page is using Vitrue products or not doesn't factor into the valuation.
We currently offer a deep-dive evaluation for our existing clients to help them analyze their Facebook performance. This release of the Social Page Evaluator is the first time we've made a subset of that evaluative capability public. In the coming months we will integrate even more advanced functionality and convenient analytics into the Vitrue products our customers use to manage their social presences.
5. What are Vitrue’s primary takeaways and lessons learned from this project?
While some major brands are doing an excellent job of managing their social presence using best practices, enhanced strategies and the latest tools, there are still many brands, organizations, and personalities (even major ones) that have barely scratched the surface of the nearly limitless potential of Facebook.
6. Isn’t it a little bold to attribute a specific dollar value assessment to each brand’s Facebook initiatives?
We thought about using a relative grade, such as a 0-100 scale or something similar, but placing a limit on the evaluation would imply that there could be a realistic case of a brand having no room for improvement. Also, such a relative score or index holds little practical meaning for a business. Instead, we decided to put a stake in the ground and use well thought out financial assumptions to offer something much more meaningful and useful for brands and businesses to base concrete actions upon.
7. Will the Evaluator be the new way Vitrue determines its Vitrue 100 (top social brands of 2010)?
We are extremely pleased with the finished product and the Evaluator will certainly play a major role in determining the Vitrue 100 for this year. Vitrue is committed to continuous maintenance and updates to the Evaluator to ensure that it remains relevant and as accurate as possible.