Quantifying Your Social Media Efforts
Leads & sales are the reigning champs of social media metrics, but they’re not the only game in town, and I’m always on the lookout for new metrics to add more depth & context to my monthly reports
If you advertise on your site and know your average CPM, then Advertising Value Equivalence (AVE), a staple amongst the PR crowd, can be equally useful when quantifying your social media efforts when the need arises.
First, the math:
Unique Visits x Pages per Visit = Page Views
Pageviews / 1000 x CPM = AVE
And now a sample calculation:
Assuming (n=1) for advertising impression per page view and an average CPM of $65.00
Network Visits x Pages/Visit = Page Views
Facebook 2,988 1.51 4,511
Twitter 1,591 1.51 2,402
LinkedIn 659 1.93 1,271
Total: 8,184
8184 / 1000 x $65 = $531.96
As always, your thoughts are highly appreciated, so feel free to drop me a line or even a new metric for that matter.
