erinism: #socialmedia and other explorations


Measuring Social Media: the stats

Posted in measurement,ROI,social media by Erin on September 28, 2009
Tags: , ,

Whatz ROI?

Whatz the ROI?

After reading Social Media Measurement Lags Adoption, the stats are alarming–but by no means surprising.

A lot of people assume that since social networking sites such as Twitter or Facebook offer free accounts, that their use in a business and marketing or PR sense is free.  However, companies must consider costs such as man hours, giveaways, samples, opportunity cost, sponsorships, and production.  And anytime there is an investment made in something–whether with time, money, or both–the ROI must be measured.  When the ROI is unknown, there is no way to know if efforts are successful, or if they need to be re-strategized or shifted.

Social media measurement is radically changing and developing more each day.  Web analytics, of course, are an essential first step (this explains ROI calculations far better than I can).  Beyond that, periodical and consistent customer surveys and emotional context measurements of brand mentions (especially in the blogosphere and Twitter) allow companies to gauge whether consumer sentiment toward a product is improving because of involvement in social media.

Google alerts and sites such as TweetBeep allow users to set up email alerts anytime their brand is mentioned.  I also highly recommend CoTweet for businesses–it allows you to schedule tweets, measure the percentage of click-throughs for a particular link, and analyze emotional context (positive vs. neutral vs. negative–and for most companies, a majority will be neutral).

Determining if a social media campaign is a success will depend on the goals and objectives of the strategy.  If planned correctly, ROI should be a part of such goals.

social MEdia

Posted in social media by Erin on September 26, 2009

I really love all aspects of social media: planning, implementation, and measurement (and all three are necessary for a successful strategy).  In fact, it was me who introduced my former firm to the social media world.  Others were convinced it was merely a fad and that it would fade over time; once I secured my first placement on CNN via networking on Twitter, a few minds were changed.

I yield to call myself an expert; the field is far too new to be appointing so-called experts.  However, I do consider myself an eternal student of the art of social media, yearning to soak up and develop more and more tactics to Twitter and other outlets.  I find that sites such as Mashable.com, Penn-Olson.com, and PRSarahEvans.com are great resources and I do read them daily.  Additionally, I had recently decided to continue my education at NYU-SCPS in Digital Media Marketing.

Consumer brands–like Southwest Airlines or Comcast–are obvious candidates for strong social media campaigns, but the true challenge arises when a less-than-traditional brand approaches social media (and there’s no reason they can’t join the party, too–I designed a social media campaign for Zurich Financial Services in my last position).  One of the most advantageous aspects of social media is that it blurs the lines between public relations, marketing, and customer service.  And, yes, all three are necessary for a brand to flourish.