You blog, you post, you comment, you tweet, you stumble, you Facebook...you've been using it.
The real question is....is it working?
"How do I measure my social media investment?," is one of the most asked questions from my clients...as it should be! Social media may not be as expensive as other forms of marketing, but it does take time and time is money.
I've been measuring marketing programs for over 20 years; everything from advertising, direct mail, pr, to trade shows, events and more. It's a must for any marketer to determine a marketing activities' value and worth in increasing the bottom line of their company.
So how do you measure your social media program? We've put together a presentation to help you understand the elements of determining the goals of your social media program, how and what to track, and how to trend, evaluate and analyze your program in relation to your goals and objectives.
The most difficult part of social media measurement is interpreting and evaluating the data. Once you have gathered all the data, input it into a bar chart or graph and correlate it to your objective. For instance, if you want to track increased sales, determine your quantitative markers, i.e., fans, followers, traffic, comments, interactions, etc., in relation to your sales.
Do you see trends? If so, you will be able to tell in some relation what brought upon that up-tick in sales...was it Facebook? Twitter? Blogging? Then by taking this information you can best
revise and refine your social media program accordingly to increase it's effectiveness.
This is the key to measuring ROI (return on investment) and ROE (return
Successes and disappointments in conducting a social media program may not be immediately visible when measuring your social media. You need to evaluate both quantitative and qualitative data (see presentation) and evaluate it based on the present, to help you act on the future.
If you're not seeing the results you expect, evaluate and be sure to ask yourself:
Are you targeting the right people?
Are your messages speaking to them?
Are you engaging your audience?
The companies with the most successful social media programs are those that answer yes to these questions and act accordingly and with vigor.
Visit these sites to learn more about measuring your social media program: