Number of posts, impressions, virality, and reach are good measures of activity on a social network. But part of the goal is enticing community members to venture off Facebook and Twitter, visit your website and engage with your brand, sign up for e-mail newsletters, and eventually buy. Here are some ways to measure the effectiveness of your social media program in improving your brand equity and brand reach and driving activity to your core business:
E-mail signups Sweepstakes signups Number of product reviews, average ratings, number of shares, and rate of sharing Product samples distributed “Surprise and delight” campaigns (unexpected gifts, prizes, or other feel-good gestures for your most loyal fans and followers)
Tell-a-friend totals and rate Tracked sales direct from social media, including tell-a-friend campaigns and group deals Lifetime value of customers originating from social media In addition to internal stats reports from Facebook, Twitter, YouTube, and other platforms, these measures help you get your finger on the pulse of (1) your brand equity across the social sphere and (2) traffic and business coming from social media to your website.