Measuring Social Media

First came the question: how do we get into social media?

Next comes the question: how do we know it has an impact?

These two questions are not new to marketers. They come up every time
a new marketing option becomes available to us. I certainly got asked
those questions when we were first doing direct mail and when we were
first building websites? How do we jump in? How do we measure it?

A new colleague sent me this video link the other day. You've probably
seen the social media videos circulating around that show how quickly
social media has infiltrated our lives and how marketers need to
embrace the medium and figure out how to get in. Hits at question one.

http://www.youtube.com/watch?v=ypmfs3z8esI

This video, though, tackles the second question. How do we calc ROI on
our social media efforts?

Truth is that it's hard, like with any part of the marketing mix. And
although this video is a bit over stated and just a little filled with
hype, I still like the premise.

Social media can have a huge impact on your brand, and the video
contains some stats that help to prove it.

But it all depends on how you use it to help your consumers. And how
you weave it into other parts of the marketing plan.

Like with any marketing investment, it'll be more impactful when used
in synergy with other marketing elements. And it'll be more impactful
over time. Social media builds. Just like brand equity, although much
faster.

Give it some time. Experiment It's an investment (relatively small
actually) that builds and builds - with impact that may take a little
time to measure and feel. But we will be able to measure it.

What's your experience? Jim.