Here a 6 equations that can better help you gauge and measure your audience. Find out what a like is worth and your potential reach when posting content to social media. Try them out – hope they work for you!
#1 DETERMINE POTENTIAL REACH OF SOCIAL MEDIA
People who Shared Your Content + Their Networks + Your Followers = Potential Reach
Extended Networks – If 1 person shares your content, your potential reach will increase. To find out how much it will increase, check the number of followers that person has. You can add this number to your followers. That’s your potential reach.
#2 DETERMINE $ VALUE OF A FACEBOOK LIKE
Total Revenue in a Month from Facebook Traffic / Total Number of Likes = $ Value of Facebook Like
What’s that thumb’s up worth? Simply take all of your revenue for a time period and divided it by your total number of likes for that period.
#3 SHARE OF CONVERSATION
Posts discussing topic and your brand / Posts discussing topic = Share of Conversation
In other words, what percentage of the conversation is about your brand. Facebook Topic talking about an industry, 30 people mention your company – now divide that by the total number of posts.
#4 SOCIAL MEDIA ROI
Sales – Costs / Costs (100) = ROI
Calculating Return on Investment.
#5 COST PER RESOLUTION
Daily Support Costs / Avg. Number of Issues Handled Daily = Cost per Issue Resolution
The cost of having your support team up and running for a day divided by the average number of support issues handled daily. That will give you your Cost per Issue Resolution.
#6 TIME SPENT RESOLVING ISSUES
Total Work Hours Resolving Issues in a Month / Number of Issues Resolved in a Month = Average Resolution Time
Easy way to find the average time it takes to resolve a support issue.