I’m sure management has been asking the 64 million dollar question: How is social media helping our business? As marketers, we need to define those base line objectives to get answers to these kinds of questions.
More importantly, is Facebook getting us more action or is it YouTube? If we know where our successes are, then we can spend more time cultivating them.
I recently read a great article from Nichole Kelly in Social Media Examiner, 4 Ways to Measure Social Media and its Impact on Your Brand. I’d like to share some highlights:
You need to build a strategy to measure your goals. We need to agree on terms like brand awareness is a measure of how recognizable your brand is to your target audiences.
Three key areas to evaluate are exposure, influence and engagement. Nichole points out in her article there are many tools (some free, some you have to pay for) that can help you sort out the numbers.
- Exposure – track growth rate as a percentage of the aggregate totals (eliminate duplicates)
- Engagement – how many people took some kind of action based on your message (most important)
- Influence – what was the outcome of the engagement (was it positive, negative or neutral)?
Those are my thoughts. What tools are you using to measure social?