Learn How to Measure the Impact of Your Advertising in Social Media Channels
Insight ⇒ Social Monitoring Data Can Reveal Campaign Performance Mathematically
One of the most asked questions about advertising is “How do I measure performance?”. There are many methods including measuring sales linearly against various campaigns, using purchase intent research or incorporating regression analysis techniques to measure advertising’s impact on the brand.
Given that reviews and recommendations in Social Media are having a huge impact on brand purchase today, there is a new measure that can be applied using Social Media monitoring tools and indexing.
Social Media Contribution Index (SMCI)
The Social Media Contribution Index is an excellent metric for understanding the positive or negative effects a campaign has on a brand. It is defined by measuring a specific campaign’s share of positive brand mentions to the campaign’s share of total brand mentions. It is derived by using Social Monitoring tools like Sysomos to gather total, positive and negative brand mentions over a period of time.
Social Media Contribution Index
In the example below for Therma-Tru’s UTO campaign, UTO was 7.2% of all positive Therma-Tru mentions in the Social Media space vs. only 1.5% of all Therma-Tru brand mentions. This equates to a 471 Social Media Contribution Index. The UTO campaign is contributing almost 5 times the positive brand associations than its share of total brand mentions. An extremely positive and uplifting effect for the branding of Therma-Tru to its target audience.
Do This ⇒ Add the Social Media Contribution Index to the evaluation of your advertising campaigns
- Use the SMCI to track effectiveness and monitor sentiment in the Social Media space, continually in-campaign
- SMCI will yield data on what types of campaigns build perceptual value and preference for the brand
- The Index can also pinpoint what types of promotions are adding or detracting from your branding
Not That ⇒ Don’t use ‘Likes’ and Followers as Brand Effectiveness Indicators
- Most traditional Social Media measurements are valueless as they show no correlation between advertising and the impact on the brand