{"id":503,"date":"2011-02-28T11:05:44","date_gmt":"2011-02-28T19:05:44","guid":{"rendered":"https:\/\/blog.investmentpal.com\/?p=503"},"modified":"2018-05-25T23:46:54","modified_gmt":"2018-05-26T06:46:54","slug":"3-actionable-metrics-for-social-media-prospecting","status":"publish","type":"post","link":"https:\/\/blog.investmentpal.com\/social-media-metrics-for-prospecting\/","title":{"rendered":"Social media metrics for prospecting – 3 that can impact your pipeline"},"content":{"rendered":"

In search engine marketing, practitioners tracked metrics such the number of keywords triggering search results for a site, the number of links to it and created action plans around keywords & link building.\u00a0 What are the key metrics in social media marketing?\u00a0 If you are using social media to attract new prospects, here\u2019re 3 actionable metrics to watch.\u00a0 One – social reach. Two \u2013 social media activity level.\u00a0 Three – \u00a0response rate to that activity. \u00a0 These metrics can be used to build an action plan which maximizes your pipeline of prospects.<\/p>\n

\"social<\/p>\n

Social Media Metrics for Prospecting<\/strong><\/h1>\n

 <\/p>\n

Social Media Prospecting Math
\n<\/strong><\/h2>\n

Let\u2019s suppose you have 100 friends across all your online social networks (\u201cyour social reach\u201d).\u00a0 If you share 10 posts a month (\u201cyour social activity level\u201d), you are generating 1000 potential friend contacts (100 friends X 10 posts).\u00a0 Let\u2019s further suppose 10% of these contacts generate a reply, \u201clike\u201d or re-tweet from a friend (\u201cthe response rate to your activity\u201d).\u00a0 When a friend replies to, \u201clikes\u201d or shares your post, these responses are in turn published to his\/her network of friends.\u00a0 Assuming each friend has a network of 100 friends, you would have generated 10,000 potential friend-of-friend contacts.\u00a0 (1000 friend contacts X 10% response rate X 100 friend-of-friends) \u00a0This represents the potential volume of contacts with prospects at the top of your social media sales funnel.<\/p>\n

Formula relating Social Media Metrics
\n<\/strong><\/h2>\n

Here\u2019s a simple formula that relates these metrics to your prospect pipeline<\/p>\n

Number of potential friend-of-friend contacts per month <\/strong><\/p>\n

=<\/strong><\/p>\n

Number of friends<\/strong><\/p>\n

X<\/strong><\/p>\n

Number of posts shared each month <\/strong><\/p>\n

X<\/strong><\/p>\n

Response rate<\/strong><\/p>\n

X<\/strong><\/p>\n

Size of each friend\u2019s network<\/strong><\/p>\n

Apart from the size of each friend\u2019s network, all 3 other metrics are actionable.\u00a0 To maximize your prospect pool, it is important to develop an action plan that impacts all 3 metrics.<\/p>\n

 <\/p>\n

Social Media Marketing Plan<\/strong><\/h2>\n

Here\u2019s a simple framework that can be used to develop an action plan that is suited for you.<\/p>\n

One<\/strong> – Increase number of friends<\/p>\n