How to Measure the Return on Social Media Contests

social media how toHave you thought about running a social media contest? Wondering how to best measure your return on investment (ROI)?

This article will help with three case studies.

But first, about that ROI… It took some time after the advent of online advertising before marketers started asking, “What are these ‘eyeballs’ worth that I’m paying for?”

With social media, the tough questions around metrics started being asked much sooner. As marketing budgets stay tight, it’s no surprise that the need to show results is high.

So when it comes to contests on the social web, how do we go about evaluating ROI?

Investing in Your Social Media Contest

Before you can demonstrate a return, you must first make an investment!

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A Simple Way to Calculate Social Media Return on Investment

social media how toSocial media return on investment (ROI) is simply a measurement of efficiency. It’s a lot of things to a lot of people: “return on inactivity,” “return on innovation” and “return on engagement.”

However, in a stricter sense, social media ROI is defined as a measure of the efficiency of a social media marketing campaign. This definition might sound complicated, but in reality, it’s quite simple.

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Should You Use Radian6 for Social Media Monitoring?

social media toolsAre you befuddled by all the social media tools out there? Are you wondering if Radian6 is a good choice for your organization? Do you need a way to compare different vendors? Keep reading for a comprehensive review…

If you’re looking for a social media monitoring tool, you’ve probably noticed that it’s quickly becoming a confusing landscape. For those who are new to social media and looking for tools to manage their presence, it’s difficult to know how to compare one vendor to the next. Here’s the skinny on where Radian6 fits into the picture.

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30 Social Media Predictions From 30 Social Media Pros

social media viewpointsHow will social media impact marketers and businesses in 2011? We sought expert opinions from a wide range of pros you’re likely familiar with.

Since we started Social Media Examiner in October 2009, we’ve published more than 280 articles. These original posts were written by dozens of social media professionals.

We decided to tap their knowledge and expertise to see what’s likely coming next year. Here are their predictions for where social media is headed in the next 12 months.

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8 Social Media Metrics You Should Be Measuring

social media how toDo you think social media measurement is only about return on investment (ROI)?

Are you struggling to find measurements that are meaningful to your organization? Do you feel like you’re searching for a needle in a haystack of metrics?

Here are 8 useful metrics that you may not be measuring, but should be.

#1: Conversion Rates

Everyone wants to measure the volume of leads generated to get to the bottom-line ROI of social media efforts. But don’t forget about the value of the conversion rate! While the volume may not be there yet, the propensity to convert may be staring you right in the face.

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