Jeremiah Owyang: How to measure your social media progream

I found this blog post by Jeremiah Owyang, web strategist, explaining on how to measure your social media program, and I thought you might be interested, here it is:

I’ve been meeting and interviewing some of the top thought and practice leaders in the Web Metrics and Social Media space. I’m seeing a trend, and want to document it in order to help others. I’ve also had to measure a blog program at my previous job, so I know the challenges

Situation:
You run a social media program at a corporation, and you need to measure to improve your program, but more importantly to show to your bosses that this ‘new media’ program is worth it’s weight.

Challenges:
You see the immediate value of a community program but your management is unconvinced. Furthermore, the brand police and the traditional hard-liners don’t like your ‘open-thinking’ type of revolt. There may be other challenges too: lots of activity but few people, or you simply don’t know where to start.

Goals
Deliver a report that demonstrates the value of a social media program as well as helps you improve the program over time.

Key Concepts:

Define goals of program
Why are you doing this community program? Why did you launch your blog? That needs to be determined ahead of time, or there’s simply nothing to measure against. Was it to: reach customers, drive awareness, listen, be human, respond to crisis, or build better products?

Social Media Measurement from the start
Measurement should be baked into your program before you launch it. It’s not an afterthought, it’s part of the process.

Measuring all of it may be inefficient and avoid paralysis
I’ve had some discussions with some of the leaders in this industry, and we don’t want you to be stuck in “Paralysis Analysis”. Shel Israel suggests that we don’t measure the value of a phone anymore –we know the value. At some point, business blogging will be like email –everywhere.

Start with the low hanging fruit
There’s quite a bit of free tools to initially measure, you should consider these right off the bat: Web Analytics, RSS Analytics, Technorati ranking. You should also be monitoring who’s linking to you (Technorati) and setup Google Alerts with keywords of company, products, and key employees.

Reporting vs Alerting
Reports is different from alerts, you’ll need to monitor too, marketing is in real-time now. A negative meme, a exploding battery could shatter your brand, are you watching in real time?

You can read the rest here.

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