How Freelance Businesses Can Measure Social Media Results
Posted November 13, 2009 in How-To, Social Media 21 Comments »
There’s no question about whether or not freelancers are using social media. Log onto just about any social media platform and you’ll find at least a few freelancers.
A very real question that many freelancers ask is whether all this social media involvement really pays off for the average freelancer. While some freelancers are strong advocates of social media usage, other freelancers view it as just another waste of time.
Until now, there hasn’t really been a good way for freelancers to measure social media results. Measurement techniques that work for larger companies aren’t really practical for freelancers. In this post, we’ll give you some practical ways that you can use to discover how much your freelance business benefits from your social media participation.
Methods That Don’t Really Work for Freelancers
Many detailed methods of measuring social media work well for large corporations. They have the resources and staff to devote to a sophisticated analysis of their social media involvement. They may even have a dedicated social media specialist on staff.
Most freelancers don’t have those resources, though. Most of us work alone, or with a partner. Not only are we the social media specialist, we are also responsible for everything else that our company accomplishes. For practical reasons, we need to keep things a bit simpler.
Here are two ways of looking at social media return that generally don’t work well for freelancers:
- Complicated metrics — Metrics can be very helpful in determining social media return, if they are the right metrics. However, if it takes a lot of time to compile and study the statistics on one’s social media usage, the reality is that many freelancers won’t be able to stick with the metrics method long enough to generate any useful information. To be really useful to freelancers, an effective means of measuring social media return should be easily integrated into their daily routine.
- Opportunity lost — Some measurements of social media return look at the cost of participating social media as being equivalent to the hourly rate one would charge for his or her services. Under this way of thinking, a freelancer who would charge $50 an hour for his or her services should look at an hour spent on social media as costing $50. However, I believe that this approach is flawed. Most freelancers understand that they should not ignore a paying project to participate in social media. Also, ideally, your freelancing rates should include the cost of overhead expenses such as accounting, marketing (which includes social media participation), and other administrative costs.
Is there a better way to measure return on social media for freelancers?
I believe that there is.
Measuring Social Media Results (for Freelancers)
It is possible for a freelancer to determine whether his or her participation in social media is producing results. I recommend that any method that a freelancer uses to measure social media return include the following elements:
- Determine how much time you spend on social media — You can’t begin to accurately measure social media results if you really aren’t sure what the true extent of your social media involvement is. I’ve experienced this problem personally because I like to use my social media tools as a “break” from my regular work. It took a little extra discipline on my part, but I’ve started to note on a spreadsheet the amount of time that I spend on social media and which tool I using.
- Determine where each new lead comes from — It’s important to ask each new lead how they heard about you. If they give the name of another individual, consider how you know that individual — if it’s through social media, then that lead could be considered as coming from social media. If you don’t know where your leads come from, then you can’t really know what social media is doing for your business.
Over time, you should get a fairly accurate picture of how effective your social media usage is by comparing the two figures. (Don’t forget to also consider the dollar amount of the business that you get from each lead.)
If, for example, you find that you have spent 80 hours on social media over a six-month period and you’ve gotten six new leads through your social media contacts you have some idea of your social media return. You can also experiment with the amount of time you spend on social media to find your optimum social media usage.
Additional Tips for Getting More from Social Media
First and foremost, remember that social media usage is a long-term strategy. You can’t tweet today and expect to have a new client tomorrow. It just doesn’t work like that.
Also, remember to have a social media strategy that is related to your business. Spending an hour on Facebook taking quizzes to find out what song you are or playing YoVille may be fun, but probably won’t do anything to build up your freelance business.
On the other hand, using Facebook to connect with a former boss, coworker, or client could very well result in additional business.
For more helpful tips on getting the most out social media, be sure to read Social Media Basics for Freelancers.
There are also tools available that can help you measure your social media usage. Some of these tools are even available for free. Check out this Mashable post that discusses how to measure social media ROI for a partial list of such tools.
Tell Your Social Media Story
We’ve examined some popular techniques for determining what type of return businesses get from social media. We’ve also given you an easy way that freelancers can measure their own social media responses.
Now it’s time to hear from you.
Is your participation in social media worth it? How do you measure social media return?
Leave your answers in the comments.
Image by theilr
About the author: Laura Spencer is a freelance writer from North Central Texas with over 19 years of professional business writing experience. If you liked this post, then you may also enjoy Laura’s blog about her freelance writing experiences, WritingThoughts
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21 Comments
Mihaela Lica
November 13th, 2009 at 11:08 amSpeaking of time spent on social media – the more accounts you make, the harder it becomes to keep a schedule and monitor results effectively. Working time lessens as well… Social media is very time consuming, and addictive… :) So my advice: handle with care.
Laura Spencer
November 13th, 2009 at 11:10 amGood point Mihaela! I always tell newcomers to social media to concentrate on one or two platforms.
Matt Keegan
November 13th, 2009 at 11:36 amI’m not sure if I really know how to measure the success of Twitter, Facebook, et al. Some people claim that they can, but when it comes to freelancing, if I get a client or make a contact of some value, then I consider that to be a success.
Then again, social media can take up so much time and turn into a tremendous time waster if we’re not careful.
Mihaela Lica
November 13th, 2009 at 11:57 am@Matt Keegan – it’s actually pretty simple. Traffic is one measure and for that there are a number of analytics tools; then a brand monitoring tool – like Brandeye for bloggers, only 1USD per month; and then, like Laura suggested, monitoring how many inquiries come from social media and how from other venues. I only wish there was a system in place for all these metrics – maybe an idea for a software developer?
Michele | aka Raw Juice Girl
November 13th, 2009 at 1:42 pmI totally think social media is a plus. It opens up doors to editors, clients, fellow freelancers, sources, and so much more. For me, I’ve gained access to editors, clients, companies (for my http://www.healingwithjuices.com reviews and contests).
And, of course, friendships are created! :-D
It may seem that I spend a LOT of time on social media sites but I normally have several tabs open at once. So, while I’m researching/writing/blogging, I’ll pop into this site or that one and share a link to my latest article/review/contest, or a quote someone shared that inspires me, etc.
Also, a LOT of my blog traffic comes from the various social media sites – especially Twitter.
I wholeheartedly feel social media is important and I won’t be eliminating it any time soon.
Great post, Laura!!!!
*smiles*
Michele
Mvestor Media
November 13th, 2009 at 2:39 pmI use social media for just about every important announcement I have…most subscribers care in the first place and previous clients usually do as well.
Amber Weinberg
November 13th, 2009 at 3:53 pmSocial media can also be used for business in ways other than just gaining clients – it can be a way for you to networking with other freelancers, learn more about your industry, keep up on industry news and it can establish you as an expert or “go to” person in your field (which may lead to clients anyways). I think this is probably what makes it the hardest to measure the results.
George Passwater
November 13th, 2009 at 4:15 pmSocial media can do so much, it just depends on how much time you have. I agree with sticking to a few sites and working up from there.
I would also suggest using it to “listen” about talking about you or the niche you are targeting. Go in, interact with them and see if you can help them solve their problems. You will make a new connection, gain trust and possibly get some more work from it.
I use it quite often, sometimes more than I should. You just have to remember you to limit your time on playing and focus more using social media to help you in your business.
Laura Spencer
November 13th, 2009 at 8:42 pmThis is good point — social media is more than just finding clients. This post primarily addresses how to track job leads.
It would be hard, I think, to assign a value to some of the other benefits (such as friendships) that social media provides.
Javis Sneed
November 14th, 2009 at 8:45 amAnother good point to make is the people you already know or are acquainted with that you reacquaint with on social media sites. When I first got on facebook i talked to hundreds of people that I may have never otherwise seen again, a few which have since become clients.
Becoming more ‘visible” to those you already know through social media can introduce them to the services you offer in a way that a phone call or a run in at the mall cannot!
Honey Singh
November 15th, 2009 at 8:01 amSocial Media is the only tool that can act as a marketing team for your company/ work.
Few pointers:
1.Use twitter to buzz about the tips and updates related with your work. If you adds the information to the system then people will RT and hence you will get the leads related with your work
2.Now a days slideshare work as an excellent tool for presentations. If you adds a valuable presentation on slideshare then it acts as another tool to generate the leads.
3.Facebook is popular for its business fanpages. You can integrate your linkedin profiles, twitter profiles and can use Boxes as a landing page for your services.
4.No need to describe about the blogs and i told tell you how to add the blog posts on your new works, your tips and suggestions. I think you already know the blog posts acts as print media flyers for getting new leads.
In the end don’t forget to prepare a detailed portfolio of your work before getting deep into the social media.
Mike Grouchy
November 15th, 2009 at 9:40 pmThe startup I work for will have its product coming out of private beta soo and this is exactly what we do, we track Social Media metrics and help you determine your ROI. I would suggest you keep an eye on the upcoming launch the company is SWIX and our website is (http://swixhq.com).
Mike
November 16th, 2009 at 5:30 amSocial media is definitely a great potential source of income for freelancers, (well not just freelancers). I think that its good to have a review of where income comes from and measure the success of your networking efforts.
Cameron Sweeney
November 16th, 2009 at 7:42 amGreat article with some really good points in the discussion.
Social media is a very powerful tool for any freelancer, and using it as a ‘break’ from real work can greatly improve your knowledge in your particular niche.
Thanks for sharing it.
Andy Gillette
November 16th, 2009 at 5:13 pmI think one of the toughest parts of this debate is figuring the value of name recognition. Freelancers understand (or they should anyway) that a great way to increase visibility is to become an “expert” in whatever niche you’re in, and social media can go a long way toward lending your name some cachet in the industry. That’s really what I see as the long-tail game of social networking. My social media time is kind of split between networking to get leads and jobs (following up with clients and co-workers, etc.) and networking with other people in my field to make sure they know who I am and what I’m doing because (I hope) this will pay off eventually by establishing me as someone who pays attention to trends in my field and is trying to push the envelope wherever possible. But figuring out my ROI on that sort of stuff is probably impossible.
Luke Jones
November 19th, 2009 at 5:37 amI think it’s important to be a specialist. At the moment I’m concentrating on bringing out a new version of my site, but after that I’m looking to concentrate my efforts on Twitter, Facebook, LinkedIn, Béhance and Designers Couch. The reason being that it means I can spend more time on fewer mediums and hopefully get better results – I’ll see how it goes.
Greg Brooks
January 18th, 2010 at 2:21 pmGreat article, with the addition of a single word:
… Determine where each new [qualified] lead comes from…
If your marketing isn’t bringing in qualified leads, then it’s just dumping more white noise into your inbox and your life.
Don’t just measure leads. Measure whether you’re getting the right kind of leads.
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