Picking the right metrics is the foundation of figuring out how well your brand is doing in social media. Some guidance from SociaLogic, a social media marketing firm, might help. Jacqueline Zenn, Director of Social Media Strategy, suggests some of the things to look for in social media.
One key indicator is Share of Voice; The number of mentions of your brand versus competing brands on the social web. Zenn says this is a good indicator of consumer awareness as well as how competitive your brand is. You’ll need to collect data on the right competitive brands, though, to make this truly useful.
Zenn points to some basic indicators, like Brand Volume (the number of mentions over a set period) and Engagement (the number of times your brand is talked about on social media sites). More subtle is to track Key Influencer Mentions; you’ll have to determine who those influencers are for your brand, and track the right ones.
Other indicators include Interaction per Post, Sentiment Analysis, Social Click-Through Rate, Platform Reach and Mobile Mentions. Zenn sums it up: “Even with all these metrics, it is important to remember that there is no magic formula that will simply turn your social media marketing efforts into dollars. What all marketers know is that people want to talk candidly and honestly about their experiences with a brand’s services and products, they want to hear directly from the voices of brands themselves, and that they will use multiple public channels to do so.”
Source: Mashable
