Measuring Success in Social Media

Measuring Success in Social Media

Alright, so let’s create a hypothetical scenario…

I work for company A and we implemented a social media campaign. We did research to find out where our publics were spending their time online, we created a message which we felt would start to build relationships with our stakeholders. The social media team is happy with our progress and then our CIO comes up to us and asks us to show the ROI of our campaign. The CIO wants to make sure that this social media stuff is actually making a difference.

So what do we do? Well the lecture this week indicated that there four different ways to measure our overall success. These four measures are virality, sentiment, financials, volume, others. Virality (35% of overall measurement) indicates how much our message has spread and to how vast an audience it has spread to. Sentiment (32%) refers to the stakeholder reaction, was it positive, negative or neutral toward our message. Financials (20%) clearly deals with the money – the one which may matter most to our CIO – what impact is our campaign having on our companies bottom line? Volume (11%) indicates how much response we have gotten from our publics and how many people are coming to our social media sites. The last 2% is other random impacts that the campaign has.

Do you think this is fairly accurate? Is there anything you’d put more emphasis on? Has anything been left out that is important to your company for measuring success?

Let’s hear from you guys!

As always, thanks!

-Lauren

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