In Jeremy Epstein’s blog post from Tuesday, he referenced a document about social media/marketing perspectives for 2009.  There’s a lot out there on measuring the effectiveness of social media, but I wholeheartedly agree with Jeremy’s assessment that Olivier Blanchard’s analysis model makes sense:

  • Measure the frequency of touches and transactions
  • Measure the breadth and depth of new customers (how many new customers you get and how many current customers buy more of your products/services)
  • Measure yield - does the average dollar per transaction increase?

I find this incredibly helpful as I work on establishing what our organization’s social media goals are for 2009.  We have several company blogs, Twitter accounts, a Facebook fan page, a LinkedIn page and more so analyzing the effectiveness of these efforts is key.  I’ve seen a lot of great case studies about the success of social media in the b-to-c space, but I feel like tracking the metrics above will help b-to-b marketers demonstrate their success.