The blog discussion on Social Media Marketing Strategy Contd.
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Another important part of a social media campaign is "Social Media Monitoring". It is the process of constantly monitoring your effectiveness of the social media presence and activities. Social Media Monitoring consolidates and evaluates all your effort on the Social Media Marketing. It helps you decide your future plans and actions. Social media presence and activities should be constantly and carefully monitored.
There are various Analytics tools available to analyze the social media effectiveness.
We need to have some of the KPIs calculated. They are:
Sentiment is the positive, neutral, or negative mentions about your brand, product or services over a given time period.
Sentiment Ratio = positive, neutral or negative mentions /All brand mentions
Audience Engagement is the amount of engagement or interest that your social media audience have on your social media presence and activities.
Audience Engagement = (Comments+Replies+Likes+Shares+Trackbacks)/Total Views
Share of Voice is the mentions of your brand, product or services in social media (i.e., articles, blogs, comments, Tweets, videos, etc.) against your competitors.
Share of Voice = Brand's, Product's or Services' Mentions/Total Mentions(Brand + All Competitors)
Conversation reach is the reach of your activities(like publish of posts, images, videos, status updates, etc.) in social media channels.
Conversation Reach = Total People Interested/Total Audience Exposure
Also there are many other metrics like Social Media Issue Resolution Rate, Time Taken for Resolution, Customer Satisfaction Score through Social Media, etc.
Social Media ROI is difficult to calculate but this resource – http://socialnetgate.posterous.com/social-media-measurement – will help you go through the process.