From the desk of Elaine Schoch...
In keeping with previous discussions about measurement, we thought it would be helpful to discuss how to measure social media initiatives.
Did you know that 86 percent of respondents to a
recent survey said they had adopted social technologies for their business, yet
only 16 percent were measuring its success?
If you are using social media tools such as Twitter, blogs, Facebook and podcasts for business, how are you measuring their success? Do you know if they are building your brand and impacting your bottom line?
the challenges in measuring the ROI for social media is that you are trying to
put numeric quantities around engagement with real people having real
conversations, which is not quantifiable. While you cannot put metrics around
engagement, there are metrics related to social media that are trackable.
Common Metrics to Measure Social Media
- Increases in customer engagement: click-throughs, opt-ins, content downloads, registrations, time spent on the website, page views
- Improvement in Google/Yahoo! search rankings
- E-commerce: overall, jumps around specific social media pushes, sales from people coming in through social channels
- Blogs: Comments left on your blog, subscribers, time spent reading posts, etc.
- Twitter: Increase in followers, RT’s, @, DM, links back to the site via URLs tweeted
- Facebook: Increase in fans, comments, fan photos, links back to the site via Facebooks posts
Keeping these metrics in mind when developing and implementing a social media campaign – or evaluating an existing program - will help to ensure social media initiatives are impacting the bottom line.