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ROI of Social Media: How to Improve the Return on Your Social Marketing Investment by Jerry Dimos, Steven Groves, Guy Powell

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7

THE COMPETITIVE SET—VYING FOR ATTENTION

The competitive set dimension in the MEF represents the competing elements the marketer must work against to obtain awareness, time and attention of the various personas. Each persona has a different competitive set, so the marketer must have a clearly delineated strategy and metric for each persona.

ENDORSEMENT SHARE AS THE COMPETITIVE SET FOR INFLUENCERS

Important to the success of an influencer strategy is the level of endorsement—the share of endorsement—the marketer has with a particular influencer and set of influencers. Although the primary goal of a social marketing campaign is to drive engagement at the community level among the target audience, one valuable interim success metric for marketers is to track the share of endorsement the marketer has with each influencer and influencer segment. Because the influencer's post frequency, audience size and post quality are out of direct control of the marketer, a key top-level metric for success can be defined as the share of posts achieved by the marketer.

Endorsement with influencers is defined as the public support for a brand that an influencer exhibits when writing about an endorsed brand. Because influencers can also post about many other related issues, marketers must measure their relationship with the influencers based on their share of endorsement with them. Endorsement metrics with influencers can be broken down into share of posts at each level in the conversation hierarchy. ...

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