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Measuring Social Media

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A review of how to measure social media, including definitions of ROI, examples of metrics that are relevant, and discussions of goals and benchmarking.

Published in: Business, Technology
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Measuring Social Media

  1. 1. <ul><li>http://www.radian6.com </li></ul><ul><li>@Radian6 </li></ul>Old Metrics, New Metrics, and Learning from Them All Measuring Social Media © 2009 Radian6
  2. 2. Start with Objectives.
  3. 3. Goals related to: <ul><li>Reputation </li></ul><ul><li>Awareness </li></ul><ul><li>Money </li></ul><ul><li>Engagement </li></ul><ul><li>Education </li></ul><ul><li>Entertainment </li></ul>
  4. 4. The Truth About ROI.
  5. 5. Gain from Investment - Investment Cost Investment Cost X 100 The Only True ROI
  6. 6. Benchmarking.
  7. 7. The Old Metrics
  8. 8. The New Metrics
  9. 9. Why We Need Both
  10. 10. <ul><li>Activity & Engagement </li></ul><ul><li>Members </li></ul><ul><li>Posts/Threads </li></ul><ul><li>Comments or Ideas </li></ul><ul><li>Inbound Links </li></ul><ul><li>Tags, Votes, Bookmarks </li></ul><ul><li>Active Profiles </li></ul><ul><li>Referrals </li></ul><ul><li>Post Frequency/Density </li></ul><ul><li>Revenue and Biz Dev: </li></ul><ul><li>Speed of sales cycle </li></ul><ul><li>Number/% of repeat biz </li></ul><ul><li>% customer retention </li></ul><ul><li>Transaction value </li></ul><ul><li>Referrals </li></ul><ul><li>Net new leads </li></ul><ul><li>Cost Per Lead </li></ul><ul><li>Conversions from community </li></ul>Metrics and Measurement
  11. 11. Metrics and Measurement <ul><li>Cost Savings: </li></ul><ul><li>Issue Resolution Time </li></ul><ul><li>% of issues resolved online </li></ul><ul><li>Account turnover </li></ul><ul><li>Employee turnover </li></ul><ul><li>Hiring/Recruiting </li></ul><ul><li>Training costs </li></ul><ul><li>New Product Ideas </li></ul><ul><li>Development cycle time </li></ul><ul><li>Product/Serv Adoption Rate </li></ul><ul><li>Awareness and Value: </li></ul><ul><li>Brand loyalty/affinity </li></ul><ul><li>Media placements </li></ul><ul><li>Share of Conversation </li></ul><ul><li>Sentiment of Posts </li></ul><ul><li>Net Promoter Score </li></ul><ul><li>Interaction with Content </li></ul><ul><li>Employee Social Graphs </li></ul>
  12. 12. The Ultimate Metric:
  13. 13. Learn Something.
  14. 14. Do Something.
  15. 15. <ul><li>http://www.radian6.com </li></ul><ul><li>@Radian6 </li></ul>Questions? © 2009 Radian6

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