I did some data mining.
“Who are you working for?” Someone asked me this week. My answer was simple; “This is purely for fun”. So enjoy & I hope I can open some eyes…
How do I stack up?
In the last few days I asked 20+ prominent #MinTwit profiles to share some very basic Twitter data. A few basic conclusions:
- Avg Engagement Rate: 2,4%. Engagement Rate is easily one of the most important social media metrics any company/person can track. The whole point of being active on social media is that it helps you build connections. A quick glance at your engagement rate should be enough to tell you whether your efforts are successful or not. In this case, 2.4% is a very good sign. (Engagement: Like, retweet, reply, bookmark, link click, etc.)
- Top Tweets can be categorized in
- Mining News Scoops
- Personal news (kids, Bday’s, dogs)
- Unique data, picture, visual
- The engagement rate for Top Tweets are double or more of the avg
- A selected group of 20 hand-picked quality posters representing the broader community, with a combined followers count of 66k (which will have MANY overlaps), gets a total of 10 Million monthly impressions. BAZINGA. And no, nobody is skewing the data as each in that group has less than 8k followers.
Tip: Those wanting to check their own data, go to PROFILE>MORE>ANALYTICS>TWEETS
A selected group of 20 hand-picked quality posters … gets a total of 10 Million monthly impressions. This #Mintwit top 20 community is ‘missing out’ on $324k monthly advertising revenue (10Mil x 2.4% engagement rate x 1.35$ per engagement avg)
Mind you that the $324k is a theoretical value. The ‘brand’ or company that wants to push ads will have to do that from their account (enter: Twitter ads). Workaround would be a company directly paying influencers to tweet about them (product placement). Now people’s most important asset here is credibility, only ‘promoting’ stocks they actually believe and invest in.
First move for a company would be setting up a twitter account, get the tagging done right, focus solely on your own news releases, providing visuals, site or interview video’s, interact & answer questions. Big Bonus: sign up your CEO or alike & get some convo flowing. Foundation: Try and build an honest company.
My numbers:
Check your hashtag
Besides #TheBigBosnian, not a lot of companies have coined their own hashtag. Luckily for them, an unwritten rule has organically grown on social media: Using a dollar sign followed by the ticker symbol and if needed, the market extension (.l for London, .TO for the TSX, .AX for the ASX, etc.)
Let’s have a look at $BTO.TO (B2gold). In just 5 days (3-8 May) they got 113k impressions on 48 tweets. The Clive, you can send a PR check to @GrantMBeasley.
A hashtag that still needs some work:
Anyone in for comparing followers?
Fun for retail, useful for companies. Example: You can compare West African Resources (WAF) with Orezone, extract a list of people that are 1) following both 2) Exclusively follow WAF 3) Exclusively follow Orezone.
With list 2, Orezone could potentially target WAF followers in presenting their assets in the neighbourhood of WAF’s assets. The potential…
As a fun example, look at the overlap between giants GB and Pamplona (and me). There is healthy and logical overlap, still both giants have still a significant follower base that is not following the other giant:
Deeper dive
If not bored by now, let’s jump in some more specifics.
I can see in below data that I can still boot 20 profiles that haven’t posted in 12 months. At the other end of the spectrum, it’s great to see my followers are active and more than 50% actually tweeted in the last 24 hours.
Another healthy view is that +65% of my followers have had their 5y Twitter anniversary. One I will be tracking to see in which stage the gold bull market is, this together with the follower count of the top 20 #MinTwit profiles, which have seen a drastic uptick in the last few weeks.
Looking for the location of your followers & when they are most active? In below example, you can deduct my main audience is online when TSX markets open (15.30h), but it’s nicely spread out due to local EU friends and several ASX focused investors.
Overlapping this with my own activity, I can clearly see I have a solid 8h of sleep & I could “improve” by focusing more tweets on the above “most active” time slot (15-20h). That is far from my goal to be honest.
Polls
Gotta love a good poll as a data geek. Interacting is easy, just click your option. The results can give you a quick and dirty representative sample. Just know to tailor the answers to your audience (I don’t have to ask my followers if they put more trust in gold-btc-fiat).
I wonder why polls aren’t used more often. I know I will. A recent example with this article in mind:
Conclusion, this doesn’t appeal to all, for many just enjoying the online chatter & discussing company news is A-OKAY. I set out to see what’s possible & wanted to take you on a (limited) tour. Ideally, some like-minded gents & ladies are triggered to do some of their own investigations.
Cheers, Pete
