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Give current HootSuite users more of a heads-up and the ability to switch between the different account options for a month or so to better determine which package they would need to continue using HootSuite for their organization’s social media management. HootSuite also should have either left the free option as it was (with the ability to add Team Members and manage more than 5 accounts and more than 1 RSS feed) and added more advanced features for paid users, or they should have implemented their paid structure before introducing all of their advanced features.
We are a non-profit with limited budget and a team of staff working on our social networking. I am going to define a way for you to think about measuring social media, and you can't actually easily measure what I am going to recommend.
I'm proposing four distinct social media metrics we should measure, (and this is so cool) independent of the social channel you participate in. When I say most brands do TV on social media what I mean is that we do the same uninformed shouting and pimping on social media that we do on TV. We know little about who is on the other end of the TV set and the medium places limits to what we can do. As you post and tweet and you rock and you roll… measure what pieces of content (type) cause amplification (allow your social contributions to spread to your 2nd, or even 3rd, level network).
If you +1 this blog post, you'll not help me understand its relative quality, but when someone in our extended social graph does a search on Google for Social Media Metrics your endorsement of this content will show up in the search results. I can focus on the Per Visit Goal Value (economic value delivered by visitors from social media channels across my macro and micro conversions – note the 0% in the macro conversions column, ouch!) for each channel.
You do Economic Value and you will never, ever have to beg for investment in Social Media, and your career will get on the fast track.
If you are engaging in brand advertising on social media channels then the metrics you should solve for should be the first three.
If you are engaging in direct response advertising on social media channels then the fourth metric, Economic Value delivered, comes into play from a strategic perspective. Social media presents and incredible opportunity to rethink what it means to connect with and influence customers.

Erik Ohlen was inspired by this blog post to create a very simple, and effective, dashboard where you can track the four recommended social media metrics. As I had stressed above, currently if you want to report these metrics exactly as defined above and from ALL the social channels mentioned then you have to do so manually. Play with it, and get just the data you need to make smarter decisions when it comes to social media. Wonderful people in the ecosystem such as yourself I know are working very very hard to tie all other bits of Social Media value into a quantified number. Tim mentioned the value of non-trackable social media influence such as in-store conversion.
And I'm glad you've come up with solid ways to measure the results of social media marketing! Social media has a kind of intimacy that is not really intimate, allowing people to offer apparent personal access while keeping the audience at arm's length. We've created a tool called Measured Voice that tracks FB likes and comments, Twitter retweets, and bitly link clicks on social media messages. Williams 20 Comments HootSuite just announced new Freemium pricing yesterday and here are the options.
Beyond the fact that only the largest of organizations can afford nearly $50,000 a year for an SaaS social media management solution, I’m feeling a bit betrayed by HootSuite by their new pricing structure.
I still think HootSuite is the best and most complete social media management tool out there and even though most of its best features are only available to paid members now, it’s still worth looking into for your organization. You get a much deeper understanding of what your audience likes so much that it will +1 your content (or contribution) and allow for that to be then shown to others in their social graph. Your selfless social media contribution comes back to assist you in driving valuable business outcomes. It highlights the need to have clear business objectives and a logical framework of how the activity in the specific social media channel will roll up to something that matters to the business.

I agree that we should not neglect that portion of influence, but in real corporate life, at first, I'd better use something we can measure and quantify to persuade management. Mostly because I believe that social media is unique in that it allows businesses and brands to influence across the entire funnel (highlight, persuade, acquire, retain). I deeply believe that any person (or brand) has an opportunity to create a hyper relevant network on social media and succeed with it.
Which in turn should help you communicate how Social impacts future behavior (especially if it leads to a Macro or Micro Conversion). Social media being the unique beast that it is, a +1 (applause) would also seem to fall into the conversation (react) and amplification categories. Recognized as one of the top 12 tourism professionals on Twitter, Jeremy immerses himself in new digital and social technologies and has presented at local, statewide and national conferences.
My hope is that vendors will stop creating tools in silos (just do Twitter or Facebook or Google Plus or YouTube or…) and start to think of real world needs of Brands and Businesses and pull together metrics we need into one place (from all social channels). Rather, the conversation in social media influenced an in-store purchase or influenced a subsequent visit to the site that wasn't initiated by a social media clickthrough. If we do it correctly, we can justify the value of social media investment most of the case even not touching intangibles.
It does boggle my mind how many people, even the media, still report hits as being a reliable metric.
If you don't fall into those two categories then this social media measurement framework might not apply to you. Four simple measures that get you to focus on the right thing from a social media participation perspective, help you understand how well you are doing at it, and quantify the business impact.

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