measurement

Measuring Social Media ROI

by Sean Wood on August 5, 2009 · 1 comment

in Blog

Yong Fook has put together a nice deck about how to measure Social Media ROI.  For accurate measurement, you must define clear goals and decide what the success metrics will look like.

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“Social Influence Measurement”

by Sean Wood on August 4, 2009 · 0 comments

in Blog

Social Influence MeasurementRazorfish recently created a formula to measure the social health of your brand called “Social Influence Measurement” or SIM (if you’re short on time). Their report, called “Fluent” is presented as a big flash file and I suggest downloading the PDF, which is easier to read.

The report wisely begins with the explanation that your brand is not what you say it is – it’s what your customers say it is. As a brand manager, it’s critical to keep an eye on what is being said about your company, your product, and your brand so that you can respond appropriately to the online conversations.

The SIM Score measures two things:

• The total share of consumer conversations your brand has online
• The degree to which consumers like or dislike your brand when they talk to each other about
you online — consumer sentiment

There is a lot of good information in these 58 pages. A couple of big ideas that you should definitely understand is how “Top-down branding will become increasingly impotent” and “Influencers drive brand affinity.” There are also lots of picture pages – so keep turning those flash pages :)

Here’s how the SIM score works:

1. Calculate the number of positive, negative, and neutral conversations happening for your brand
2. Use the formula (Positive + Neutral – Negative conversations) / Total brand conversations
3. Calculate the number of positive, negative, and neutral conversations happening for your industry
4. Use the formula (Positive + Neutral – Negative conversations) / Total industry conversations
5. Your SIM score is the result of dividing lines 2/4. Ta-dah!

Check out what’s being said on Twitter about SIM Score.

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