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Tuesday, February 23, 2010

Let's Talk Metrics, or What to do with TMI




One of the problems with social media metrics is there's just too much information available. In class today I mentioned a handful of links:



But where do you stop? Which metrics are the most important? Before you start talking strategy, it's helpful to get a lay of the land. We've talked about this as a "social media footprint," and I tend to like that image. You're looking for the digital footprints of a brand, collect enough of them and you can start to see the (social media) path they've chosen for themselves. Here are some of the metrics that made sense for Vocalo.org:


But once you know what you've got, how do you know where to spend your effort and monetary resources? One way is to create an index. Marc Schiller mentioned this. Basically, you want to give concrete values to both your efforts (things you post), and your impact (things other people post). I've worked on two different indicies, one for Facebook, and one for Twitter. It's a much longer report, so just check out page 5-10 for facebook, and pages 23-25 for Twitter.



This was an example across firms in a single industry, you could also think of looking at a single firm across time.

Good luck!

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