Turning Social Media Metrics into Business Metrics

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How do you measure your social media program? In the number of likes or  followers? ROI? Clicks to your website?

All of these metrics have their place – just not in the C-suite. Executives and small business owners need an understanding of how their investment in social media is going to increase their bottom line. Full stop.

Most do not understand – or care to understand – that their organization has a lot of followers. The only time this does matter is when a crisis occurs and their Facebook page explodes with criticism. Reputation, they get.

In some ways, the challenges of social media measurement are the same as those of public relations measurement. You need to evaluate your programs using business metrics, and you need to communicate your results in the language of business.

I wrote an ebook about this several years ago, based on my graduate school work. I thought I’d share it here, so that you can download it (note that I wrote it while at Dow Jones, so they are the sponsor). I’ve also included a few updated tips for social media below the ebook.

Tips for Sharing Social Media Metrics with Executives

  1. Track sales. Nothing says success faster than revenue. Unlike PR, which has an indirect impact on sales, you can establish a direct connection between social media and sales. One way to do this is to use a call to action linked to a form on a landing page.
  2. Track opinion. Mine your conversations for opinions and suggestions about your products and services. This is a form of market research, and sometimes it’s even better than that, especially if customers uncover an unknown problem.
  3. Tie social media objectives to business objectives. This one is the most important. Don’t start any social media program without understanding how it supports the broader organizational objectives. Yes, everyone must be in social media today, but there are many ways to do it. Just make sure it makes sense for your business.
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