Measuring The Impact of Social Media

image.axdThe attraction of social media is based on its ability to reach an audience with few out of pocket costs.  However, social media does require a financial investment through an employee’s hours and opportunity costs.

As a result, companies need to know how their social media efforts are making an impact on their business.

Part of that impact should be measured by social media activity that was generated by consumers, not your marketing department.  By measuring consumer comments regarding your company, you get a good sense about their interest in your brand – good or bad.

Two new tools can help measure this activity:

BackType lets you monitor what people are saying about your company or your competitors.  Its trend section is under development but will allow you to trend activity.

Addictomatic creates a dashboard of things like flickr, digg, twitter, youtube, blogs and other tools to give you a current picture of what is being said about your brand.

The benefit of social media is bringing you closer to your consumer by understanding what they are saying about you.

BackType and Addictomatic are two tools that help make that goal easier.

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1 Comment

Filed under Marketing ROI, Social Marketing

One response to “Measuring The Impact of Social Media

  1. Hi Andy,

    This is my first time visiting your blog and I think it looks great.

    I found out about addictomatic the other day and I plan to use it to research potential blog topics. It’s a good way to find out what others are saying so that I don’t become repititious. My first thought when I saw it was that it reminds me of NetVibes.

    I haven’t tried BackType but I’ll take a look.

    Thanks for the post.

    @Ileane

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