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The question of Social Media ROI and whether social media marketing is effective is one that is constantly on the forefront of businesses.
It is no longer a question of whether a company needs to be in social media, but more how to measure the efforts.
In the infographic below, thanks to MDG, we get a better look at additional factors to determine effectiveness beyond the obvious “did someone buy our stuff”....
[Valuable infographic for social marketing and PR experts - JD] 
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Here's a short list of the best references and reading on public relations measurement and social media measurement. I was going to tell you to read these books before going back to school, but that much summertime homework is excessive, even for you over-achieving measurement mavens.
So start with the first two...
[KD Paine shares a useful reading list - JD]
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Everyone wants to know how to measure the ROI of their Twitter and Facebook marketing efforts. This infographic explores possible answers.
This has to be one of the biggest questions banging around marketing conferences, blogs and social media gatherings. ”How do we measure the return on my investment (ROI) for the time, money and effort we put into Twitter and Facebook?”
To truly answer that question, you need to define your own ROI. If it is a dollar for dollar equation, then you need to be able to quantify/tie a value to the time spent, calculate the dollars invested and then put the proper tracking/measurement tools in place to link your social media contacts/connections to actual sales.
Are sales the only worthy ROI? Probably not. Like all marketing — you start by knowing what result you want....
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Let's face it, something isn't right with Klout.
If you're a marketing, public relations, or social media pro, you've been conditioned to recognize influence much like Judge Potter Stuart famously recognized objectionable content: hard to define, but you know it when you see it.
On the surface, Klout is ingenious; it's essentially developed a way to score influence by analyzing some of your online activity (and any related activity from your network) and assign a value from one to one hundred. If you play the Klout game correctly, you receive a high score and loads of freebies. If you choose to sit out the Klout game, your score usually sinks faster than a stone.
Take a moment to dig a little deeper into the Klout phenomenon, however, and you'll see what's missing from the equation. As a fifteen year veteran of internet marketing, social media and related disciplines, I cannot buy into the Klout hype. Our national obsession with our Klout scores is doomed to fade unless we take a more comprehensive approach to identifying true influence....
[Valuable perspective - JD]
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Social media statistics from The Social Habit by Edison Research includes several very interesting data points about Facebook, Twitter and beyond.
...Released yesterday at Blogworld New York, findings from social media behavioral researcher Tom Webster and the team at Edison Research show some shocking changes in how Americans use and consume social media. You can access the entire presentation at The Social Habit microsite, but 11 social media statistics in particular stood out for me....
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...There are four key criteria for determining who is influential to you stakeholders online: - Frequency. How often are they writing about topic
[An excellent look at online influence, measurement, evaluation and monitoring from KD Paine - JD ]
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For many years there was a long-running debate amongst we commentators which ran along the lines of, “Should we even be strategising and measuring social media?
[Now, there shouldn't be anY question, right? Right! JD]
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Can you use Klout to help the effectiveness of your sales and marketing teams? Here's a test case.
One of the things I have been interested in is examining practical applications of Klout and social scoring to an internal enterprise.
If you are unclear about social scoring systems and what they attempt to measure, it might be useful to start with this blog post about Why Klout Matters. Like a credit score, let’s assume that companies like Klout, Kred and Appinions are beginning to measure something that correlates to an individual’s social media effectiveness.
I had an opporunity to test some of these ideas last week when I conducted a social influence workshop with a global services company in the UK....
It was nothing short af a revelation to these top executives. Here are a couple of observations.
[Valuable read on influence and social measurement - JD]
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Popular social networks offer a lot of exposure for your content but don't always measure up in impact. StumbleUpon brings an audience looking to spend time with content and simple mechanics for delivering content to an interested audience.
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...The principles are a simple but effective guideline for measuring PR’s value. Rather than measuring stacks of press clips, PR firms should look at how people interpret and respond to messages.
“These suggestions aren’t difficult to implement and are relevant to the communications professional, irrespective of whether they are on the client or agency side. It’s about putting a system in place that doesn’t cost too much and only measures what matters,” said Andre Manning and David B. Rockland, in their article Understanding the Barcelona Principles....
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Nichole Kelly describes the ways you can track the impact that social media has on your public relation campaigns.
Have you used social media strategies to support your public relations efforts? Are you struggling to show whether social made a difference?
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Digital Influence is one of the hottest trends in social media, yet is largely misunderstood.
A“how-to”guide for businesses to spark desirable effects and outcomes through social media influence...
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There's lots of places you can go to find social media monitoring tools. A lot of them cost bucks $$$. Here's a list of 10 that are free.
Try them out and see what works for you....
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As an introduction into the world of social analytics, social software company Pagelever recently introduced Minilytics for Facebook.
Posting content to various social networks can be overwhelming. There is a general demand for content. Combine that with increasing popularity of third-party platforms being used to post content on social sites, and brands can lose sight of measuring the success of that content.
Minilytics gives a quick snapshot into that content for quick analysis....
[Cool tool for measuring social media ROI - JD]
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The last two weeks we’ve been discussing the standard business funnel of Awareness, Acquisition, Engagement, Conversion and Retention.
We started with the Search News Central article, Measuring Metrics for Success, and now here we are at last, wrapping up the whole kit n’ caboodle. We have a lot to go through today, so let’s get started!
The Standard Business Funnel and KPIs
You can’t manage what you don’t measure
As soon as you start looking at metrics and the massive amount of data that pours in from a well monitored site, you start to realize something is missing in the measure = manage equation. Just because you can measure something, doesn’t mean you should. More specifically, just because you’re getting data back doesn’t mean all the data is important at that particular moment....
[Excellent overview of key social media measurement and KPIs -JD]
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I had an opportunity to spend time with several Belgian journalists. One of the notable conversations was with Erik Verdonck of Pub, a local magazine focused on the advertising industry. The three themes we touched upon are not only timely, but representative of the challenges that face marketers and strategists around the globe. 2. What is the main difference between the ‘Like’ button on Facebook and other direct response triggers? 3. How would you measure the return of social media campaigns? What should marketers look at?
[Brian Solis explores the three questions well - JD]
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From
12most
Viveka von Rosen, the LinkedIn expert, shares the 12 Most Important Metrics You Should Monitor on LinkedIn.
Measuring your progress on LinkedIn will help you stay on track and reach your goals. LinkedIn can be an elephant — and we all know the only way to eat an elephant is one bite at a time. Are you measuring those bites?
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For the price of your email address, the guys over at Social Habit will give you the new Edison Research/Arbitron survey on social media. It's well worth it. Below are a few highlights: People are liking brands more...
(33% of users of social networking sites follow brands. That's up from 25% last year, and 16% the year before. This year, 36% of social network users said "none" when asked which social network most influenced their purchase behavior. That's way down from last year's 68%.)
...but almost nobody remembers one they like. (When asked "Think about the companies, brands, products, and services you enjoy following on social network sites. What is the first ONE that comes to mind?" only 332 out of 2,020 people polled responded, and the most frequent company mentioned was Nike, with just 9 mentions.)...
[Great post loaded with research insight for PR & marketing - JD]
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ReadrBoard is a new social tool that lets readers react to anything online - an article, a photo, a video, even a snippet from a page.
How many times have you had the experience of being on Facebook and wishing there was a “dislike” button? Or some alternate way to react to something beyond clicking the infamous thumbs up?
That’s the idea behind ReadrBoard, a new social tool that lets readers react to anything online – an article, a photo, a video, even a specific snippet from a page....
From a business model standpoint, Bayne says ReadrBoard is a tool for online publishers frustrated with the user engagement tools they’re using....
[I really like the potential for PR, content marketing and research - JD ]
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We tend to create the social media presence for our businesses in an organic fashion, which is the natural way to grow relationships right?
...The problem is; as you explore new tools and meet new people who invite you to join them on other networks, your messaging and your social media presence overall can easily get confused.
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Sixty percent of Wikipedia articles about companies contain factual errors. That surprising number, and more, can be found in the infographic below, which is based on a research study of the relationship between public relations professionals and Wikipedia. The study is published in the Public Relations Society of America’s (PRSA) scholarly publication, Public Relations Journal....
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There is some confusion about the strategic part of community management. This is how we think about it: 1) Objective The organization decides the objective. This should fit with the overall strategic goals and mission for the organization.
[Thoughtful post from Richard Millington on community strategies - JD]
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Some words are hard to love, and I have to concede that “data” is one of them. It doesn’t have any magic that makes the heart of a strategic communicator beat faster. But really, it’s so important that we should all learn to love it a little.
...Let’s face it — as a communicator you barely have the time, let alone the budget, to measure your communications activities. Yet, your senior management team is constantly asking for data on return on investment and the evidence that communications has demonstrated a meaningful result.
So what’s a communicator who’s committed to measurement and evaluation to do?...
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Digital marketing smarty, and my colleague from TEDxSanJoseCA, Adam Helweh CEO of Secret Sushi Creative, recently wrote an fascinating blog post outlining how he had used Pinterest for market research...
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TechCrunch | Klout and PeerIndex Don’t Measure Influence. Brian Solis Explains What They Actually Do
Whether you like it not, Klout, Kred, PeerIndex, and Radian6 are measuring your social capital -- not your influence but your potential for it.
Altimeter Group’s principal analyst Brian Solis today releases a free report that explains why influence is largely misunderstood, and breaks down what 14 of the top measurement services are really good for. It eradicates consumer myths about one of social media’s hottest trends, and gives brands an action plan for making money with these tools....
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