**Repost from company blog Nostrum Inc.
Old spice did a brilliant Social Media campaign about a month ago. The campaign ended on a Thursday and by Friday there was a large contingent declaring the campaign a failure... These naysayers were touting that sales were down 7%... The data these naysayers were using did not even measure the Social Media push. The period measured in the report ended a full month before the Campaign even started. (*There is some dispute over the numbers which didn't include walmarts sales)
The way I read it, is that some critics wanted the Social Media push to actually go back and change sales history to be a success which brings me to the question of this post...
Is sales really "the matrix" of success in Social Media or is it a matrix of success?
I am not saying that sales should be discounted as a (possibly the most) important matrix when measuring Social Media. What I am suggesting is that sales should be measured in relation to several other factors... Sales isn't the only reason to have a social media presence and therefore isn't the only measurement that counts!
::Other measurement matrixes to consider::
1. Brand sentiment: Does your Social Media presence help your brand sentiment?
2. Influence: Is your brand more influential? Are you able to direct consumers to click a link more or less often?
3. Engagement: Are your consumers asking more questions, providing innovation, wanting to know your brand's position on certain issues?
4. Followers and Fans: This is a favorite of Social Media folks because its simple to quantify. It also counts because there is an effect on impressions.
5. Share of voice: How are you doing compared to your competitors? How many brand conversations are going on?
Social Media analytics requires reporting talent not many understand or can produce.
Plug:: At Nostrum we have years of experience providing reports and monitoring services containing actual insight.
Incase you were wondering... The Social Media push worked sales were up 107% for old spice when all was said and done.
