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Jeff Berezny is founder of Tent Social , a boutique social media & content marketing agency based in Toronto and Vancouver, Canada with a virtual team that stretches around the globe. Jeff is passionate about brand storytelling and strategy, lifestyle design, speaking, adventure, travel, kiteboarding and pretty much anything that challenges him. Connect with him on LinkedIn or Twitter.
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Great run down on some of the best ways to evaluate the effectiveness of social media efforts. I particularly like your use of the term 'content mobility' as it relates to the engagement and shareability of content. I think I might have to start using that term ;).
One of the key things that I always think about when measuring the ROI of social media activity, is to first consider the role that it is meant to play for a brand (awareness, education, conversion, purchase, customer service etc). I wrote more about this idea on the tentsocial blog at: Know Your Role on Social Media
Would love to hear any thoughts you have on this approach.
Teen wolf can sell anything ;)
Great question. One of the best ways to do this is to align on the metrics that will define the ongoing success of the activity upfront. This way you can focus on those metrics and justify not looking at other metrics (that often get asked of out of the blue) since they are not providing direct value towards the measurement of agreed on objectives.
That being said, the task of aligning on objectives can be a huge problem in itself as I believe you are referring to above. I find it helps to continuously include the objectives in reports that I provide. I do this by framing up most of the metrics that are provided against different, specific objectives.
To break it down further, the way that I like to define social media ROI is by creating multiple objectives for the activity. The do this is by breaking down down goals by 1) Reach, Awareness & Trust 2) Education & Engagement (of your product/service) 3) Conversions & Sales and 4) Customer Service & Sentiment.
For example, for many brands they want to have more fans/followers for their communities. This metric is not directly tied to goals 2,3 or 4 above, rather it is all about Reach & Awareness. Thus when defining the success of growing reach & awareness all you need to look at are the reach & awareness related metrics. This principle applies similarily to the other types of goals.
At the end of the day though, just having more fans doesn't do much for a brand, so there needs to be other objectives that are linked to it.
I will actually be digging into this idea a little bit more in a future blog post, so stay tuned! In the meantime, you might find my recent eBook helpul: The 10-Step Social Media Strategy Blueprint. In this book I go in-depth into some different ways to measure success on social media. You can find a free download at tentsocial(dot)com.