Our latest free ebook, 5 Steps to Effective Social Media Measurement, explains — in detail — how to measure the success of your social media efforts. It'll walk you through how to measure awareness, attention and reach leads conversions and sales cost savings for training and support The ebook contains 7 helpful social media equations, and we've created a 1-page PDF cheatsheet for you to print off. Here are the equations. Potential Reach of Social Media Potential Reach = Social Shares + Fans in their Network Example: If you have 1,000 fans and followers, and together they have 90,000 followers, then you have a potential reach of 91,000. Value of Fan Value of Fan = Total $ Value of Transaction Resulting from Conversations / Actual Reach Example: If you've generated $25,000 of revenue from your 1,000 fans, each fan is worth $25 to you. Value of Facebook Like Value of Facebook Like = Total revenue in a Month from Facebook traffic / Total Number of Likes Example: If you had 2000 Facebook likes in March, and generated $30,000 in revenue from Facebook traffic, then each Facebook like was worth $15. Share of Conversation Share of Conversation = Posts discussing topic and your brand / Posts discussing topic If 50,000 of the 80,000 posts mentioning "smartphone" also mentioned "iPhone" or "Apple", then Apple's share of conversation is 62.5%. (Radian6 CEO Marcel Lebrun defined Share of Conversation in this post two years ago.) Social Media ROI ROI = (Revenue - Cost) / Cost, x 100 Example: Your social media efforts cost you $150,000 but drove $225,000 of business, meaning you had an ROI of 50%. (We recently published a free ebook by Dr. Natalie Petouhoff (@drnatalie) called Social Media ROI that provides more detail on this important topic.) Cost per Issue Resolution Cost per Issue Resolution = Daily Support Costs / Average # of Issues Handled Daily Example: Your 5 team members, office space, and equipment cost you $1,500 every day. On average, your team handles 175 issues each day, meaning your cost per issue resolution is $8.57. Issue Resolution Time Average Issue Resolution Time = Total Work Hours Resolving Issues in a Month / Number of Issues Resolved in a Month Example: In March, your 3 full-time and 2 part-time team members spent 128 hours resolving 1,870 issues. The average issue resolution time was therefore 0.068 hours, or 4 minutes and 5 seconds. Download the ebook for more detailed explanations of these equations, and how you can use them. What back-of-the-envelope equations do you find useful for measuring the impact of social media? Leave a comment or fire us a tweet at @radian6.

1. FREEBIE:
7 Helpful
social media
Measurement
Equations
As a takeaway, here is a list of all the equations
discussed in this ebook. Feel free to print it or
share it or put it in your back pocket for your next
social media strategy meeting.
Determine Potential Reach of Social Media 1
People who Shared Your Content + Their Networks = Potential Reach
Value of Fan from Social Media
2
Total $ Value of Transaction Resulting from Conversations = Value of Fan
Actual Reach
3 Determine $ Value of a Facebook Like
Total revenue in a Month from Facebook traffic = $ Value of Facebook Like
Total Number of Likes
4
Share of Conversation
Posts discussing topic and your brand = Share of Conversation
5
Posts discussing topic
Social Media ROI
Sales - Cost x 100 = ROI
Cost per Resolution 6
Cost Daily Support Costs = Cost per Issue Resolution
Average # of Issues Handled Daily
7 TIME SPENT RESOLVING ISSUES
Total Work Hours Resolving Issues in a Month = Average Resolution Time
Number of Issues Resolved in a Month
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