Measuring the Impact of Social Media
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How To Accurately Measure Your Social Media Impact and ROI

How To Accurately Measure Your Social Media Impact and ROI | Measuring the Impact of Social Media | Scoop.it
How To Accurately Measure Your Social Media Impact and ROI. Download Free Key Findings PDF
Taylor Roy's insight:

Discovering the ROI and impact of social media efforts is the most important part of a marketing campaign. It is what tells the company who is clicking, what they're clicking on, how they are searching, what they're asking, and what they want. However most companies don't know what to do with this data once they have it. This article mentions a report that would provide a company with the tools necessary to measure company's social media ROI. This report talks about the methods companies can use to analyze that data and what to do with it. Proving the success of the campaign, making sure the data is recorded properly, staying ahead of the competition, and fully understanding what is working to maintain a competitive edge are just some of the things that could help analyze metrics. 

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Measuring Social Media ROI: Companies Emphasize Voice Metrics

Measuring Social Media ROI: Companies Emphasize Voice Metrics | Measuring the Impact of Social Media | Scoop.it
The influential economist Albert O. Hirschman argues that customers can have a disciplining effect on companies and markets through their exit and voice behaviors. Instead of simply “quitting” a product, Hirschman urged customers to voice their complaints so companies could improve and learn. Hirschman would be a happy camper these [...]
Taylor Roy's insight:

The table within this article has interesting statistics that show the increase or decrease of metrics within the past 3 years. It compares the difference of different aspects of metrics in percentage form from August 2010 to February 2013. The change mainly decreased except for a few categories. The highest percentage change is Customer retention costs, from AUG 7.7% of customers were retained, where in FEB it was only 3%, this is a -61.04% change. There was also a positive percentage with the net promoter score. It was at a 7.5% in AUG and 9.8% in FEB. This was a +30.67% change. 

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How to Measure the True Value of Social Media Marketing for Your Business - OMI Blog

How to Measure the True Value of Social Media Marketing for Your Business - OMI Blog | Measuring the Impact of Social Media | Scoop.it
The top 100 retailers on Facebook measured by the number of fans each have an average 1.2 million “likes,” according to ExactTarget findings. Clearly Facebook alone generates massive volumes of data.  Add to that billions more data points created as people tweet, “like,” chat and otherwise… Read more...
Taylor Roy's insight:

This article talks about three steps that move "likes" to leads and data to dollars in real time. The first is unifying data for all social channels in one view. This is also explained as having one place where you can assess all data from all social media channels. The main goal is to aim for crystal-clear visibility into what people are saying about the business. I believe that this allows for a more simple evaluation of the information being spread around the channels. It also keeps data organized and formatted similarly. The second step is to compare performance of social platforms in terms of reach and engagement. These analytics allows you to compare the metrics across many channels in many geographic locations. Facebook and Twitter have different reaches in different parts of the world. It is important that a company realized the channels that are needed in specific areas. 

The third step is to analyze earned media's impact on owned media. This is telling companies that they must go the extra mile. The company must conduct assessments of social media impact on website performance, and campaigns. But it is important to identify the media efforts that contribute to owned and paid marketing channels. 

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