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Social Media - How to Measure Marketing Effectiveness

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I recently have been in an email and Facebook messaging exchange with a marketing consultant in Europe who is doing some consulting for an automotive company there. I thought that a lot of the answers applied more broadly to other businesses, so I am sharing it with all of you through this blog. This is not a complete list of things you can track or everything you should track, but it is a good list of ideas of things that are pretty easy to track.

What a Business Should Measure to Understand the Marketing Effectiveness of Social Media

1) Facebook Fans & Page Views

Your company can create a business page for free on Facebook. Once you do this, track the number of people that become a fan of your company. Here is the HubSpot Facebook Page if you want to become a fan of HubSpot and see what I am talking about. You can also track the number of people who visit your page and the number of page views. Facebook provides a decent free tool to track all of these stats (see image).

2) YouTube Video Views and Subscribers

YouTube is the third largest search engine in North America. If you have any video content, you should post it there. Its free! You can track the number of people who have viewed your videos over time as a metric for how well you are engaging the YouTube community. If you post videos on YouTube, you can create a "channel" and people can subscribe to that channel. For example, here is the HubSpot YouTube Channel. This is free as well. You can track the number of people who have subscribed to your channel your videos over time as a metric for how well you are engaging the YouTube community.

 

3) Del.icio.us bookmarks of your website

Del.icio.us is a social bookmarking website where users save their bookmarks to the web and share them with others. Tracking over time how many people have bookmarked your website and looking as what tags or words they use to describe it is a good way to understand your brand's presence online. For example, here is the Del.icio.us listing for HubSpot showing the people that have saved it and how they described it. To see yours, just change the URL to your company URL in the top left of the page.


4) Rank in Search Engines - Both branded and generic terms

Generic Term Search Rank - Measure your rank on generic search terms (not your brand) in Google and other search engines. More and more, your brand is what the search engines say it is. If you are the W Hotel chain, you should want to get found when people search for "upscale hotel".

Tagline or Brand Search Rank - Measure your rank for taglines and other branded terms and phrases. you should be very close to the top for these. For instance, BMW is ranked #9 for a search on "Ultimate Driving Machine". Shouldn't they be #1?


5) Number of Articles on Digg and Number of Votes

If you are creating news or blog article content, people who like your content might submit it to websites like Digg or other social news websites. These websites allows users to submit content and vote on content. More votes means you get closer to the homepage of the website, where even more people will see the article, driving more visitors back to you. Read this article for more information about using social news websites for marketing. You can measure the number of articles about your company that get submitted, the number of articles from your website or blog that are submitted, and the number of times these articles make it to the homepage of the social news website. Here is a search on Digg for stories from the HubSpot Blog, you can customize this search for your website easily.

 

Do you have any other metrics you use to measure the effectiveness of social media and your company's presence online? Leave a comment below.

Posted by Mike Volpe on Wed, Feb 06, 2008 @ 09:59 AM

COMMENTS

Nice post. I knew about finding out on Digg, but the Del.icio.us tip was a new one for me. Thanks!

posted on Wednesday, February 06, 2008 at 10:40 AM by Kyle


How about tracking visits to your website and lead generated?
Tracking this stuff is like tracking the number of cold calls a salesperson dials or the number of people they exchange business cards with at a networking event.
I'm not saying it's not worthing tracking the metrics above to inform your marketing moves, but if you don't track how it impacts the business, why bother?

posted on Wednesday, February 06, 2008 at 2:53 PM by peter caputa


Nice post, but it's really low hanging fruit isn't it Mark? How about some advice on tracking itunes subscriptions to podcasts or tracking views on other video sharing sites like blip.tv , which provides a very nice embedded player without the ugly watermark like Youtube and tracks views too! Of course another day could be spent just teaching folks about monitoring feeds with something like feedburner.com . . .

posted on Thursday, February 07, 2008 at 10:52 AM by todd lucier


Todd brings up a good point. You could spend a few days trying to aggregate all this data. I can see why these things might be leading indicators for people trying to increase brand awareness.
But, for the majority of b2b, small and mid sized businesses, ecommerce sites, it's about visits, leads and sales.
Since these things can drive traffic, I'd certainly advocate doing them. But, can't you measure most of this activity from concrete results?
Sorry to be a broken record on this. But, I think it's important to not confuse business owners and marketing professionals with more and more metrics that don't really demonstrate how this stuff benefits the top and bottomlines of the business.

posted on Thursday, February 07, 2008 at 11:51 AM by peter caputa


Yes, but Todd is focusing on video and podcasting. For normal websites and blogs, these are important tools and tracking them will help you in the promotion of your company. Why did you get dugg more one month than the next is a good indicator of something people want to read from you. It's more about refining your art than it is about jsut tracking what is happening.

posted on Thursday, February 07, 2008 at 1:32 PM by Brian Carl


I agree that for B2B sites, at the end of the day, leads and sales is the key metric. However, if you want to measure something further up the funnel that has a shorter time span to it (many times a B2B sales cycle is 3-6 months) I think these are good suggestions.

posted on Thursday, February 07, 2008 at 6:27 PM by


Great post. just want to know why you didn't include stumbleupon as that also provides a healthy amount of traffic.

posted on Thursday, February 07, 2008 at 7:40 PM by Jorge


I agree that StumbleUpon is a fantastic tool to send a lot of traffic. But I was trying to find statistics you could measure. How would you measure how powerful you are on StumbleUpon?

posted on Thursday, February 07, 2008 at 11:10 PM by


Hai,
The topic regarding the idea of how to measure marketing effectiveness is interesting and suggestive .

posted on Saturday, February 09, 2008 at 5:21 AM by avanthi


Great post. Thanks for that info.

posted on Tuesday, February 12, 2008 at 12:44 PM by Megan


After spending time trying to create a presence the biggest frustration stems from not being able to monitor the leads. I have been able to track StumbleUpon referrals, but like others mentioned, concrete results that show impact are minimal.

posted on Tuesday, May 27, 2008 at 2:16 PM by Chad


@Chad - My experience (tracking our results automatically using HubSpot software) is that StumbleUpon converts into leads and customers at a really small rate (like you said), but other sites like LinkedIn and Facebook convert at a much higher rate, and they can be good ways to get leads.

posted on Tuesday, May 27, 2008 at 11:05 PM by


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