5 Examples of Social Media Metrics
Social media is a hot channel that leading-edge marketers have entered in the forms of presence on blogs, social networks, file sharing and consumer review sites. But if you know that social media might be a good channel for your particular product or service, and want to test into it, what kind of metrics can you present to the CEO for measuring the channel's effectiveness?
In his presentation, "Can Social Media Be Used for Direct Response," at the DM Days New York Conference & Expo earlier this year, Marc Schwartz, SVP of consumer engagement for DDB Seattle, showed how social media can be tested and measured in traditional direct marketing terms. Schwartz pointed out that social media is not entirely foreign to direct marketing rules and translated direct marketing terms into social media terms: An offer becomes intriguing content. Product information turns into cocreated or user-generated content, and an explicit call to action is now an invitation to join the conversation. He pinpointed engagement as the currency of social media and shared the following guidelines for measuring engagement within these popular platforms:
1. Social Networks: Measure relevance in search, the volume and duration of activity on the site, membership numbers, site traffic in unique visits, and affiliation.
2. Video- and Photo-Sharing Sites: Engagement is shown in the number of views, number of comments and the ratings earned, or peer assessments of content.
3. Consumer Review Sites: Look at relevance, the number of inbound links, number and quality of reviews posted, search engine placement, and site traffic in unique visits.
4. Blogs: Track the number of inbound links, frequency and timeliness of posts, content of the comments, affiliation, search engine placement, site traffic, and RSS feed subscriptions.
5. Message Boards: Count the number of message boards, frequency of posts, search engine placement and affiliation.