One of the most common challenges for entrepreneurs is measuring the return-on-investment (ROI) on their social media programs. To be sure, there are a number of ways to measure ROI, but one key way is to measure your social media influence. Measuring this influence will not only help you to build your business and personal brand, it will also help you to be more productive by guiding you on where, when and how to engage online.
Here are 3 free tools to help you track (and build) your social media influence.
Klout is the most popular social influence tracking tool and it can connect to your Facebook, Twitter and LinkedIn feeds. Klout uses a proprietary algorithm to give a score (out of 100) that shows how you stack up against others.
Apart from the score, it gives you the topics for which you are influential, the users you influence, your style of campaigns (taste maker, opinion setter, curator etc). The Klout scores are momentum based and depend on the degree of influence you are gaining in your network. The scores are quite biased to recent activity. Unlike many other social media influence measuring systems, you can see the results of your campaign in your scores in 1-2 days. A score of 60+ is considered good for individuals and for business accounts 50+ is considered great – people in social media follow business owners more than businesses.
Here is a screenshot of Klout in action:
PeerIndex looks more at the long term influence of social media users. It tries to classify each post you make among the eight major categories it has identified – business, sports, entertainment, politics, lifestyle, technology, medicine and science, and then computes how influential you are in each of the major categories and the relative influence is used for the score computing. It also takes your activity (number of posts, tweets, retweets, etc), your audience (how many and how influential they are) and authority (how many of your posts gets shared etc).
Since the scores are relative to a category, you don’t usually compete with people from other categories. Thus, if you are a top science blogger you might not going to compete directly with an Ashton Kutcher or Lady Gaga. Your influence score will mainly be based on the relative influence you have on the category.
Here is a screenshot of PeerIndex in action:
Kred works slightly different from Klout and PeerIndex and produces a score for 1000. Unlike Klout and PeerIndex, the scoring is more direct and is calculated in the following way by adding points to each action and normalizing the score with other users. Thus, it might not be useful in many cases, but it is simple and easy to understand.
Here is a screenshot of Kred in action:
All the three tools are great and can be used for different purposes. Klout can measure your campaign’s momentum, PeerIndex can measure your account’s standing in the community and Kred can measure the activity levels with your peers.