What is the complete impact of your social media campaign? Do you have any idea at all?
You should have a fairly decent notion of well your social media network can motivate people to do the things you want them to do. Like a carnival barker at a side-show: if he can’t motivate people in the door he is going to lose his job.
So how well does your social media network work as a tool to influence the people who Friend/Follow/Connect with you?
There are several schools of thought on this, with ideas ranging from not at all, to a whole lot if you do it right. Determining what level of influence you have over the people in your network gives you a fairly good idea of your social media ROI. So, if you don’t know the answer to my first two questions, you have some things to figure out before Monday.
Chasing the “Influencer” set is a long standing marketing strategy – not a novel concept newly minted from the social media revolution. We may have called them by different names 20 years ago – thought leaders, trend setters, early adopters – but we always understood their disproportionate power to drive business.
Back then, it was not hard to know who influencers were (usually confined to public personalities) but it was hard to determine which “influencer,” a.k.a. celebrity, was worth more than another. To solve the problem, a company called Marketing Evolutions introduced “Q Scores”, a well-known popularity metric as one way (albeit limited) to compare one personality’s influencer value from another.
Then, as social media “happened” – BOOM – brands had easy and really really cheap access to more influencers than ever before. The only trouble was sheer quantity made finding the “influencer diamonds in the rough” really – uh – rough.
True to Silicon Alley DNA, an early set of companies emerged to address this problem. Arguably, Technorati was the first company to measure a blogger’s influence with its “authority” rating. Initially, it was a great tool but ultimately it rewarded media companies (e.g. Mashable) with high authority given the sheer quantity of content they can pump out. This left many highly credentialed but narrowly focused bloggers in the authority dust.
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