Measuring Social Media

20 03 2010

So you have a social media strategy – now what? The next stage is to find a way to measure social media. But how do you do that? Here are some tips:

1. Start with objectives and set goals that revolve around reputation, awareness, money, engagement, education and entertainment.

2. Monitor the following:

Activity and Engagement – including members, posts/threads, comments or ideas, inbound links, tags/votes/bookmarks, active profiles, referrals, post frequency.

Revenue and Business Development – including speed of sale cycle, percentage of repeat business, percentage of customer retention, transaction value, referrals, new leads, cost per lead and conversions from community.

Cost Savings – including issue resolution time, percentage of issues resolved online, account turnover, employee turnover, hiring/recruiting, training costs, new product ideas, development cycle time, product rate.

Awareness and Value – including brand loyalty, media placements, share of conversion, sentiment of posts, net promoter score, interaction with concept, employee social graphs.

Source: Radian 6




Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: