Saturday, March 27, 2010

The Book on Social Media Metrics

Just got this book in the mail from Wiley, Social Media Metrics: How to MEASURE and OPTIMIZE your MARKETING INVESTMENT by Jim Sterne

It's the 3rd book in David Meerman Scott's The New Rules of Social Media Series. My book, Get Seen is the 2nd, and Inbound Marketing is the 1st.

I started flipping through it and it's a book that I'm excited to start reading. Many clients are asking me about how to measure the value of social media.

Where I've Been Learning About Social Media Metrics

I've found some great blog posts by Amber Naslund at Radian6. Check out her Social Media ebooks.

Social Media Metrics by Jim Sterne looks like it's going to help me learn a lot more.

How Do You Measure Social Media Results?

I love David Berkowitz's list that Jim Sterne includes in the Introduction: 100 Ways to Measure Social Media. Here are the first ten:
1. Volume of consumer-created buzz for a brand based on number of posts

2. Amount of buzz based on number of impressions

3. Shift in buzz over time

4. Buzz by time of day / daypart

5. Seasonality of buzz

6. Competitive buzz

7. Buzz by category / topic

8. Buzz by social channel (forums, social networks, blogs, Twitter, etc)

9. Buzz by stage in purchase funnel (e.g., researching vs. completing transaction vs. post-purchase)

10. Asset popularity (e.g., if several videos are available to embed, which is used more)
Jim says about the list, "If.. you really want to know if any of these metrics are useful and how to use them then you'll nee to heed David's advice: "Ultimately, you need to start with figuring out your business objectives and then apply these metrics accordingly."

This book is about that.

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