Tom Koulopoulos inspired this post when he published 5 Sure Fire Ways to Measure Innovation. His list was simple and clear, even clean. The parallels to measure social media's impact seemed obvious.

We start first with the inspiration: 5 Sure Fire Ways to Measure Innovation

1. What percent of your revenues come from products introduced in the last 3 years?

2. Are you growing faster than the market you serve?

3. What percent of your Patents and IP are actually being put to use?

4. How many ideas did you generate per person last year?

5. Do your customers tell you that you are innovative?

Now the results he inspired:

5 Sure-Fire Ways to Measure  the Result of Using Social Media

1. What percent of your new customers and their revenues come from using social media resources in the last 3 years, or 2 or 1 or last quarter?

2. Are you reaching your goals quicker since you began using social media?

3. What percent of your growth comes from using social media?

3a. Which metric are you using to measure this growth?

  • Leads
  • Conversions
  • Revenues, topline, bottomline or both
  • COGS
  • GS&A
  • Upsells, crosssells
  • Customer retention
  • Employee retention
  • Employee training
  • Market share
  • Others

4. How many [of the above] did you generate as a result of using social media efforts?

5. Do your customers describe you as a savvy user of social media?

What do you think? Would you use this list to measure the results of using social media?


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