3 social media measurements every company needs

Building a relationship is not easy; explaining the value of a social media relationship is virtually impossible without tracking and measuring specific variables.  There are three things you must measure in order to validate the time spent on social media activities: Endeavors, Connections and Results (ECR).

Endeavors – This refers to the efforts your company undertakes: how much, how often and how frequently you post, blog and tweet.

Connections – This refers to the reactions from your audience: your comments, followers, views and retweets.

Results – This refers to your financial measures: revenue generation, cost reduction, leads and sales.

Before beginning a social media marketing effort, it is important to establish the success levels of your ECR components. Since these vary from company to company, there isn’t a general rule to follow.

Ideally, developing your ECR score will determine your overall level of customer engagement.  With the prevalence of social media, customer engagement is key to improving satisfaction, loyalty rates and revenue. By actively listening to customers and engaging them in discussion, you can improve your business, products and service levels. EConsultancy, a social media research firm released Customer Engagement Report 2010. Key findings include:

  • The proportion of company respondents who regard customer engagement as “essential” has increased to 55 percent.
  • The tactics that have come to the forefront for driving customer engagement are email newsletters, social networking and Twitter activity.

Ultimately, the research shows that an engaged customer will recommend your brand, convert more readily and purchase more often.

What do you use when measuring social media activity? What indicators work for you when measuring social media? Let us know and connect with Weise Communications on Facebook for future updates.

1 Response to “3 social media measurements every company needs”

  1. June 12, 2014 at 5:48 pm

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