I was just reading a blog by a social media and marketing teacher and he used a term, Return on Conversation, that he then seemed to dismiss. But I am curious if there is a way to measure return on conversation in social media. I do agree with his point that ROI for social media is probably pointless because a lot of social media can be done for free (with the exception of manhours). Does anyone thing they could come up with a formula to measure return on conversation?
MktgRob 7 Nearly a Posting Virtuoso
bobchrist 7 Posting Pro in Training
To measure return on conversation in social media is massive challenge, I hope you'll need key performance indicators for each module to track the conversation like if you've developed few apps for specific social module. you can be able to track users and their engagement with that applications.
InsightsDigital 57 Posting Virtuoso
I actually developed a metrix grid for measuring various social media. The metrics were more qualitative in nature but I tried to make it somewhat quantitative and universal.
For example:
Wikis
Numbers of Members
# Number of Contributing Posts
# Number of Revisions
# of active members
Feedback/Comment on Blog
# of Comments
# of likes
Type of Comments
Sentiments - # of neutral; # of positive; # negative; # self promoters
MktgRob 7 Nearly a Posting Virtuoso
I actually developed a metrix grid for measuring various social media. The metrics were more qualitative in nature but I tried to make it somewhat quantitative and universal.
For example:
Wikis
Numbers of Members
# Number of Contributing Posts
# Number of Revisions
# of active members
Feedback/Comment on Blog
# of Comments
# of likes
Type of Comments
Sentiments - # of neutral; # of positive; # negative; # self promoters
Sounds interesting. I am going to try to set up something similar. How did you use the results to quantify the efforts and were you able to tie specific sales to specific conversations?
InsightsDigital 57 Posting Virtuoso
The site I created these metrics was a lead generator site so instead of sales, me and the client created the metrics to have instead of sales, have it as "completed contact me forms".
MktgRob 7 Nearly a Posting Virtuoso
The site I created these metrics was a lead generator site so instead of sales, me and the client created the metrics to have instead of sales, have it as "completed contact me forms".
Understood. I think the social media channel in question will determine what metrics work best and how to capture them.
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