Below is a YouTube movie that is not really new but it’s still very relevant and explains well how to measure social media. Amy Martin of Digital Royalty offers an effective way to measure the impact of social media on a brand’s popularity. She shares a propriety method and formula for measuring a brand’s online Return on Influence. Conversion of social media is reduced to three key metrics.
According to Martin, there are two key aspects when you intend to measure your social media efforts, which are quite obvious. First, establish your KPIs (key performance indicators) and second, ensure consistent efforts to measure these KPIs.
There are three key parameters when one talks about social media measurement: volume, engagement and conversion.
The KPIs in the “Volume” category are number of fans and followers, tweet per minute, trending topics or anything that reflects your brand’s reach online.
Conversion in social media: click-through, leads generated and sales
In the “engagement” category, you may include all that reflects your brand’s popularity or engagement with online users.
It will include re-tweets, subscribers, sentiments, time spent by people on your brand, comments posted by them on facebook etc.
The metrics in the “conversion” category includes everything that depicts the actual activity or action of your customers online.
So, the KPIs in this case will be click through rates, leads generated, sales etc. So, choose your KPIs in each of these categories and track them on a regular basis.
Return on Influence: cold metrics and warm metrics
She next moves to sharing the formula, called the return on influence (ROI). It comprises two specific metrics- cold and warm.
In Cold metrics, the formula is Reach multiplied by Frequency, Divided by Time Spent. This is indicative of the online buyers’ engagement with your brand. The warm analytics include all those intangible metrics which are hard to measure. It includes sentiments, size and eco-system.
Sentiments metrics here means the affinity towards a brand- the emotions people have with a brand.
You can watch the video below. What conversion metrics do you use regarding social media marketing?
8 p.m. last night…koek and zopie concession stands preprogrammed on the ‘phoney’, Red Cross app fully tested and operational, extra battery pack..ch...... read more
Whomever predicted that February 2012 would be nothing more than just another month please recant in a hurry. Count with me...Manning got himself a brand new Vette let...... read more
Vkontakte,
the most important social network in Russia, has recently lost a
copyright case to Gala Music Group who claimed their rights for the
content posted by Vk...... read more
Bobbi Brown Cosmetics is launching a Facebook campaign to help its fans vote for the return of lip colours that are no longer in production. They have been doing...... read more
Roland Legrand 14/08/2009 23:09 uur #slcc #slcc09 at dusan writer's social media/sl discussion now. second life is social media but can use other social media tools
Maarten van Vulpen 12/08/2009 13:35 uur Social Media voor uitgevers: tips en trucs: Social media zijn media waar de bezoeker de dienst uitmaakt. Social .. http://bit.ly/3WoGd7
Aussie SEO 26/07/2009 17:28 uur Social Media Club NYC 7/21/09... (Social Media Club) » TechNews.AM: Thanks to all who attended our Social Media .. http://bit.ly/HyyqC
Mike Street 20/07/2009 09:14 uur Vocus Social Media Webinar: Monitoring the Social Media ...: The event will feature Jenni Lloyd, Social Media St.. http://bit.ly/7ibDY
Sherman Hu 07/07/2009 00:38 uur [SOCIAL MEDIA] 3 Tips for Buying Social Media Attention aka. Social Media Outreach http://tr.im/r8Ze
Mark Edmondson 02/07/2009 12:43 uur I've think the social media webinar will action Jerimah's hub/spoke social media policy -TITLE: "Building Your Business' Social Media Hub"
Mark Edmondson 02/07/2009 12:43 uur I've think the social media webinar will action Jerimah's hub/spoke social media policy -TITLE: "Building Your Business' Social Media Hub"
Modern Marketing PDX 05/06/2009 04:33 uur “Who Killed Social Media?”—A Panel Discussion On Social Media Vs. The Social Web just getting started #whokilledsm. Excited to be here!
Mike Street 08/05/2009 05:33 uur CBS Social Media Intern wanted – Innovation in College Media: CBS Social Media Intern wanted. May 7th, 2009. by .. http://tinyurl.com/dhrt54
Comments (2)
Quite some retweets there, looks like the visitors of this blog like social media related content. Good to know!
Wed 12 May 2010, 16:45
Mailed you.
Thu 13 May 2010, 17:00