Social Media Metrics

How do you measure the success of your social media campaigns?

Social media marketing actually encompasses a broad range of tactics, goals and strategies. Let’s look at the metrics as a function of what social media can do for you…

1) Establish a Presence

Do you have a presence everywhere your customers hang out on the web? How do you measure this quantitatively? Make a list and check it off.

2) Build Awareness and Drive Traffic.

This is directly measurable through your website analytics. Look at the source of the new traffic.

3) Capture Names and Build Lists

Well it just so happens that you can measure this directly from social media. Your basic metric is the quantity of new connections, followers, fans & subscribers (email and RSS).

4) Build Relationships and Trust

Ok, this is where social media can really shine. And, it is the most difficult to measure. Some suggestions for metrics are the number of interactions with your customers. How active are they in communicating with you? How many comments on your blog post? How many referrals to your site? How many retweets? Are you adding value? The number of inbound links to your site and any improvement in your search engine rankings (as compared to your competition) will also show the quality of the relationships you are building.

5) Conversion to Sale

When you make a special sales offer, you can use your web analytics to track conversions. But often conversions come through time with the increased relationship. It is often not one outlet that led to the sale but a series of exposures over time. Still, you can use web site analytics to trace the source of the sale. You can use surveys (how did you hear about us?). The metric is the increase in sales and revenues. Look at the dollar value of the new customers and its source (from analytics).

6) Upsell or Re-sell

How well are you getting additional sales from your existing clients? Measure this based on where the existing customer came from when they clicked through to make a purchase.

To get to ROI, you’ll need to know your sales income (by referring source) and your expenses (time/money spent on social media, opportunity loss, outsourcing costs, etc.). Again, social media is about building relationships, so the ROI should be increasing over time as you build those relationships. That’s another metric to look at. Look at results as a function of time, not just individual campaign. You should see an improvement over time of the cost of sale.

Another tool to grow your business using online or internet marketing is to create Online Presentations: A slideshow is a series of pictures used for artistic or instructional purposes. It allows you to add visuals to an oral presentation for greater impact.

Tips for using presentations for online marketing:

• Create an online presentation to share with your customers or prospective customers. Educate, inform or inspire them about your products and services. Create excitement.
• Use an online presentation creation and posting service and embed it on your website and share it with other sites. This is a way to drive traffic and increase links back to your site.

6 Online Presentation/Slideshow Sites:

• SlideShare – Upload and share your PowerPoint presentations and Word documents on SlideShare. Share publicly or privately. Add audio to make a webinar.
• Zoho – Zoho.com is a comprehensive suite of award-winning on-line business applications. Customers use Zoho to run their business processes, manage their information and be more productive while at the office or on the go, without having to worry about expensive or outdated hardware or software. To date, Zoho.com has launched 19 different applications.
• SlideRocket – SlideRocket is the leader in online presentation software. With SlideRocket you quickly make stunning presentations, manage a library of slides and assets, share them securely with colleagues, and measure how they’re used. Has some web conferencing capabilities.
• 280slides.com – You can download to PowerPoint or share at SlideShare. Create beautiful presentations, access them from anywhere, and share them with the world. With 280 Slides, there’s no software to download and nothing to pay for. 280slides.com
• Myplick – Upload your slides, sync with audio, and share with friends.
• Google Presentations – part of Google docs.

Do you have any tips you’d like to share? What’s worked for you?

You can get more lists like this by downloading my FREE REPORT: “187 Free Ways to Explode Your Business”.