How To Measure Social Media: A Quick and Easy Guide to Choosing Metrics

Measurement Tools and Techniques

Your Quick and Easy Guide
to Measuring Social Media...
...including three critical questions, 12 typical answers and 17 metrics you can use to gauge your success.

We've made it easy for you to get started measuring social media. Just choose from the multiple choice answers below and use the metric(s) listed.

And what if you don't know how to actually gather the data for those metrics? Well, first look through The Measurement Standard back issues to see what you can find. Then, if that doesn't help, write to Katie Paine and ask her how to do it. She loves to get mail and answer measurement questions.

So, here goes. Happy measuring:

1. Why are you involved in social media?

a: To understand the medium better
Metric: Test your executives' level of understanding before and after

b: To boost sales
Metrics: Conversion rates, sales leads

c: To boost stock price
Metrics: Correlation between number of friends or eyeballs and stock price

d: To start a conversation
Metric: Conversation Index

e: To expand your network
Metric: Social network analysis

2. What do you hope to accomplish during your first year?

a: Increase sales
Metrics: Conversions and sales lead

b: Improve reputation
Metrics: Measure relationships and reputation with key constitutents

c: Generate friends
Metric: The number of friends and connnections

d: Manage the negatives
Metric: Measure your share of negatives relative to the competition

3. Who are you trying to start a conversation with?

a: Employees
Metrics: Turnover rates, recruitment costs, morale

b: Customers
Metrics: Retention rates, renewal rates, increase/decrease in average orders

c: Prospects
Metric: Leads

Comments

[Valdis]

More on influence in networks...

http://www.orgnet.com/KOL.html

Enjoy!