Thursday, January 6

Ten Measurement Resolutions Marketers Should Make for 2011

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After coming back from Christmas rested and with resolutions in hand, many marketers will aim to step up their game in 2011. With the significance of social media as part of the marketing mix, measurement continues to be an important consideration. Below are 10 things your marketing department should be doing in strengthening its measurement practices for the New Year to ensure the success of your social media efforts:
Standardize your measurement efforts: By making sure that things such as campaign metrics and application tagging formats are the same across all initiatives you ensure that the measurement of results remains constant.
Create benchmarks for your actions: Determining a common measurement result to compare your actions against makes you better equipped to say whether something was a success or failure.
Set clear goals for your campaigns: When creating a campaign, clearly set out what you wish to achieve with it. Knowing what success is for an initiative makes it easier to analyze the end result.
Analyze your content: By categorizing and then comparing content types based on their rate of engagement you get a better picture of what resonates with users. In doing so you are better able to deliver continually engaging content.
Measure the growth of your fan base: Knowing your fan growth over time and comparing it to online and offline initiatives will better allow you to see which campaigns drove more interest to your brand than others.
Value your fan base: Your fans bring additional value in terms of dollars and peer influence to your brand. By measuring how much they are worth you are able to know the potential value your initiatives bring to your firm.
Learn about what is being said about your brand: By looking at conversation topics as well as the content score of online conversations regarding your brand you can determine not only what users say about you but how they are saying it.
Know your user base: Through analyzing the demographic makeup and user characteristics of your fan base you are better able to deliver content that will be relevant and that encourages them to act.
Measure all your channels as an integrated effort: As one social media channel can influence another (and vice versa) it’s better to have an integrated view of your social media efforts. By knowing how user traffic flows between channels it will be easier to create content that reaches users everywhere they are.
Calculate your social media ROI: Lastly, knowing how much value your social media initiatives deliver ensures you are able to prove its worth. By measuring the value of your owned and earned media value you can determine its equivalent cost to other online advertising methods. As well by linking your campaigns directly to sales you can see how much in actual revenue this work has created.
In sum, having an effective measurement program ensures that you are not only measuring your online efforts properly but also provides you with evidence in determining your overall success. By evaluating and optimizing your efforts you can make sure that you see success in 2011.

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