Social Media Experiment - Results
A few months back I chose to measure the progress of an experiment that I was undergoing for credit as my final project for my MSEE masters degree at UAB.
I had been testing out the potential of social media as a marketing tool for a couple of months and felt that it would make for an interesting final project. I have documented the results: Primer, First 3 Months, February, March.
If you have been following this experiment from the beginning then you will know what has lead me to this point in the experiment. If you have not followed the experiment then I encourage you to go back and read along as you can gain a lot from my experiences.
Below are some statistics that I feel are important. Also when this experiment began all of these numbers were 0 or small enough to be insignificant.
|Total Time:||18,033 (Hours)
So what would it have cost to buy this kind of traffic? Below you will see the estimated monetary cost of what it might have cost me to get these numbers using traditional web marketing(i.e. - Google Adwords).
• Min CPC = $0.50
• Max CPC = $2.00
With these assumptions it could have cost me between (1,180,315 * $0.50) = $590,157.50 and (1,180,315 * $2.00) = $2,360,630.00 to have achieved similar results.
It would be easy to look at these numbers and think that I have achieved something for nothing but that is not the case. The investment in time was significant. The first 2 months were spent building a profile which had a large enough following to have an effect. My estimated time spent building this social profile before self promoting: 240 hours. Also to not be considered a self promotter it is good to contribute to your community of choice more than just your own content.