One of the most frequent questions I am asked by clients is how they can effectively measure social media results. Many seem concerned about keeping track of this and want to ensure they are on top of things.
Like any other marketing strategy, social media methods should be thoroughly tested to see what works best.
However, as social media is a nascent industry, one thing that needs to be established by you and/or your team is how you define social media measurement.
…is an important measuring method to see how many people are interested in what’s being offered. If used correctly, you can link audience interaction to social media and in theory get an idea of those keen to purchase your
product/attend your event or whatever you’re offering. However, this is where many marketers come unstuck. For example, turning Facebook ‘Likes’ into leads is a challenge! One way that works is to directly link a ‘Like’ with a purchase, ie offer a direct benefit for giving a ‘Like’ such as a discount/Two-for-one offer.
Typical tools of Engagement:
- Measuring social media
- Facebook ‘Likes’ (as already mentioned) and +1s
- Blog comments
- All mentions (whether positive, negative or neutral)
- Scores on ratings sites.
…is another way of measuring social media marketing – and again not always easy to define. Influence is really one step on from Engagement – how much ‘Influence’ does your ‘Engagement’ produce? Individuals and/or businesses who are held in respect are likely to have their blogs/posts retweeted and to be listened to by people who are ready to adopt and dissipate their message.
Look out for:
- Content that is commented on and shared (measure how much)
- Inbound links (look for quality and quantity!)
- Retweets and positive references to you from all internet sources
- Facebook ‘Likes’ (numbers again are important here – and what comments are being made?)
Share of voice
…is a very strong indicator of your social media success. How many conversations are there about you or your brand in comparison to your competitors? Measuring this is key and it’s important to set up a monitoring programme to keep on top of this.
Questions to ask:
- What is your product trying to help ‘solve’?
- Where are the people who discuss this online? What blogs/forums?
- When these problems are discussed, how much does your brand engage in these conversations?
Over time, try to count the number of conversations with your product as the subject. Then check these conversations to see how much your brand figures in them! Simple!