How do you measure social media?
Well, we’re a big fan of ROI, measuring social media by it’s impact on your P&L – costs cut or profits generated. Econsultancy has compiled a fuller list, including non-ROI performance indicators…
- Traffic Generated
- Interaction Increased (comments made on your content (on or offsite))
- Sales Made (inbound traffic from social media resulting in sales)
- Leads Generated (number of brochure requests, signups, contact forms)
- SEO improvement (change in SERPS positions)
- Brand Metrics Improved (brand favourability, brand awareness, brand recall, propensity to buy)
- PR Generated (coverage, mentions, sentiment)
- Customer Engagement Increased (not sure how this is measured…time on site/time with content?)
- Customer Retention Improved (i.e. loyalty,repurchase rates)
- Profits Increased (increase in CLV (customer lifetime value))
