It’s often discussed- You cannot measure social media, it’s too ethereal or too opaque, too benign. On the other hand, you will hear that you can measure social media; In fact that’s the camp I come from.¬† I know you can measure it. I do it every day.
Herein are 20 ways in which you can measure ROI in social media.
- Measure and track subscriber count
- Measure and track earned media
- Measure inbound traffic from social media channels
- Track social bookmarking of our online assets
- Monitor conversion rates, cart abandonment and other e-tail metrics
- Measure and track social search
- Track sales that come through social media channels
- Track company blog traffic
- Benchmark and track how we are talked about versus competitors
- Track participation in social media contests or other promotions
- Benchmark and track the number of positive/negative mentions
- Measure key word optimization
- Measure sentiment (Though it’s tough-has to be manual)
- Measure syndication
- Track issue resolution rates
- Track referrals/Tell a friend
- Monitor new leads/cost per lead
- Identify key influencers in your networks
- Track customer retention
- Measure your share of conversations (how prominent is your brand in the greater conversation)
So I know there are more, what did I miss that describes how you measure social media?