Social Media Metrics

On Tuesday we are going to start learning social media metrics. Measurement of any marketing strategy is tough because we are rarely able to “control” the experiment as scientists do. For example, when a firm launches its advertising campaign, there can be several other things going on at the same time. The competitors tweaking their ad campaigns, changing their prices, introducing new products, customer behavior might be changing, the economy may start tanking, government may change the regulation…any of these things and many more might be going on at the same time. In that case how does an advertiser isolate the effectiveness of the ad campaign? It is really difficult.[1] The same is true for social media marketing. Therefore, understanding measurement of the effectiveness of a social media campaign is critical.

Read the articles below. They give a fair idea about social media metrics. I am going to keep on updating this post over the next few days by adding more links below.

Book – Web Analytics 2.0 by Avinash Kaushik

CLV Calculator

Net Promoter Score

How to Track Social Media Metrics Like A Rockstar

Top 10 social media dashboard tools

Why Your Friends Have More Friends Than You Do

Ever wondered why your friends seem so much more popular than you are?

The 10 Social Media Metrics Your Company Should Monitor

Social Media Metrics – Chris Brogan

Archive for the ‘Social Media Measurement’ Category – Jeremiah Owyang

[1] Check this article, however.

Social Business Forecast 2011

Earlier I had shared a report by Altimeter’s Jeremiah Owyang. Below is the presentation from the same report. It will help you in understanding the key points if you don’t have time to read through the entire report. My students should look at slides 19 and 20 carefully where the priorities in social media domain are depicted. Not surprisingly ROI calculation is the most critical issue.

After the spring break, we are going to spend time in understanding social media and web analytics. The students will be setting up dashboards to monitor and evaluate the performance of their social media campaigns. Personally I am quite excited about this because performance metrics is my research area!