With the hype that surrounds social media these days, and with the various strategies that are used by several companies with great success, the question still remains: How does one measure the success of so complex a task to which the response can vary from person to person?
Of course, since the bottom line of most clients being return-on-investment (ROI), almost every marketer must ask themselves this question as sooner or later, their clients will.
And for this to be able to happen, one must not only be able to recognize but also plan out the social media success metrics based pertaining to the unique strategy that they are using for a particular project.
Let’s say that you are setting up a Twitter account for one of your clients, a quantitative approach would demand that you track the traffic that you generate and that will inevitably generate leads for your client. Along with this, one can also factor in the savings that the company has made in the areas of customer relationship management, recruitment of new staff and call center costs that might have been otherwise needed.
If one wants to measure success qualitatively, one can also track the kind of communication that this approach has had with potential customers, the quality of these Twitter followers and how this has translated into engaging with customers. Of course, these metrics can also provide feedback as well as vital market information as well.