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mitch92021 | mitch92021
had stoker I had a stroke in Jan.
10 ways to measure social media for business
May 17th 2011 at 3:06 PM
10 ways to measure social media for businessSee our accompanying article on Socialbrite.org: How to measure your nonprofit's social media success. Is your business a social business? Companies that are making good use of social media should take the next step and measure the progress of their social media programs and campaigns. How do you know if you're succeeding if you don't have the numbers? Today we'll look at 10 ways that metrics can offer visibility into your business's performance. You won't want to chart all of these, but tracking a few well-chosen metrics -- and incorporating the learnings into your business processes -- can contribute to the bottom line. Customer engagement 1Engagement can take place offline and online, on your site, on your social networks and in real-world face-to-face events. By letting customers participate in conversations about your brand, you can improve your business, your products and your levels of service. Ultimately, customer engagement is key to improving satisfaction and loyalty rates and revenue. Metrics to track could include:
- Number of followers on Twitter, Facebook, et al.
- Number of retweets on Twitter
- Number of comments per blog post
- Number of external widgets embedded
- Invaluable assets as redistributors of content
- Customer reviews and ratings
- Track sales from Google referrals
- Sales from paid search
- Sales as a result of social network mentions
- Identify and incorporate targeted keywords on major landing pages on your site.
- Strategically use keywords on social networks as well, such as Facebook.
- You can use links from Twitter or YouTube to claim valuable search rankings on your brand search terms.
- Tweets that rank for targeted keyword can lead to traffic from keywords that the site does not rank for.
- Whenever someone shares content from your site on a social site, you get a link back and a submission history.
- Try to convert one-time visitors from Digg, StumbleUpon and other social news sites into long-term members of your community.
- Raw traffic is important, but you'll want to measure traffic from segmented audiences that you're targeting.
- Chart the number of visitors to your social networks.
- Brand awareness, brand favorability, brand recall, propensity to buy, etc. (TV ads are measured in this way.)
- Positive brand associations via social media efforts can help drive clicks on paid search ads. Use a social media service to measure brand sentiment.
- Traditional metrics, such as column inches in newspapers and magazines, are becoming less relevant over time. Outreach to blogosphere & Twitterverse is becoming as important as outreach to media organizations. Consider creating a social media newsroom that offers bloggers and news organizations a rich set of multimedia, bulleted takeaways and quotes from key participants. Then track the number of mentions on social sites by using the bit.ly url shortener.
- Use LinkedIn to connect with potential business partners and clients, and chart the rate of invitations accepted and follow-up communications acted upon. See which kinds of messaging are resonating.
- Here’s an opportunity for your internal teams to work together to optimize your site for keywords and key phrases. It's always better when potential customers come to you.
- Zappos, which uses Twitter, MySpace, Facebook and YouTube for its social media efforts, has exceeded $1 billion in sales. Some 75 percent of its orders are repeat customers. Make sure you monitor your repeat customers and shower them with love.
- Crowdsourcing has become an increasingly popular way for businesses to leverage customers and outside parties for savings. Consider how cost reductions can be applied in a way that benefits the bottom line while not infringing on worker rights or jeopardizing health and environmental standards. Then measure how each initiative contributes to cost containment.
- Measure incoming employees’ sentiment about your company. What are they saying? What attracted them?
- Measure exiting employees’ sentiment. Assign someone from human relations, with no stake in the matter, to conduct exit interviews. Assess their feedback -- and take it to heart.
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