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Six Methods For Measuring Social Media

April 4, 2013 0 Comments

In its “Social Media ROI Cookbook,” Altimeter Group identifies the six methods that organizations use to measure their social results on a day-to-day basis. Three of the methods are categorized as “top down” methods and three as “bottom up.”

Top down

The top down methods, which rely on the user to draw conclusions based on their own observations, are:

1.  Anecdote:
Specific examples where it is known that social media influenced a sale or had some other identifiable effect.

2.  Correlation:
comparing two data sets to see if there may be a relationship between them, for example the number of likes versus revenue.

3.  Multivariate testing:
comparing a group exposed to social media content with another group exposed to different content or no content.

While top down measurements have their place, they are time and labor intensive and fall far short of being able to provide reliable and comprehensive data on a regular basis.

Bottom up

Bottom up measurements are technology driven and can provide metrics that are instant, comprehensive and exact. These methods are:

1.  Links and tagging:
shortlinks, tags, custom urls and cookies identify when a user buys something from your site and where they came from.

2.  Direct commerce:
social commerce apps allow users to make a purchase from you on Facebook, from links on Twitter, and via other social properties.

3.  Integrated:
Specific apps that you purchase run in the background and measure conversions, identify where leads come from, score leads, and so on.

Altimeter Group, “A strategy for Managing social Media Proliferation,” January 2012

About the Author:

Social Media, Networking and Marketing Shmooze.

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