Social Media Metrics: How to Measure and Optimize Your Marketing Investment - Essay Example

            Several key indicators of performance, commonly termed metrics exist for stakeholders, organizational leaders, and musicians. In contemporary music would, record sales are not the only sale indicators of success (Sterne, 2010). Thus, considering the balance between esthetics and financial needs, musicians need to utilize various viable metrics to gauge long-term and short-term success. The three metrics that can provide appropriate measures of success and revenue growth in varied sections of the community include sales, newsletters, and social media.
            Sales include album sales, ticket sales, merch sales, and licensing placement. Many musicians consider album sales as the sole generator of revenues. However, album sales can also be an indicator of the success of a musician. The sales indicate the portion of loyal supporters willing to support the musical careers of most artists (Sterne, 2010). Thus, high album sales are indicative of long-term success for musicians. Tickets from live concerts are an indication of the growth of artists. Merch sales indicate the online and offline purchases of music products. Sync/licensing place refers to the pitching of existing songs. The trend amazingly attracts huge revenues and is a measure of success for musicians.