I was flipping through the latest issue of Forbes magazine, which just so happens to be its “The Celebrity 100” edition, where they rank celebrities based on a combination of income (solely from entertainment activities) and exposure.

At Full Circle PR, we are always challenging ourselves to provide a solid framework for measuring social media marketing activities for our clients.  For example, how does fostering dialog among online channels translate to audience engagement, thus creating loyal brand ambassadors?

I thought it would be interesting to share what data Forbes uses when rating the likes of Lady Gaga, Kobe Bryant and Taylor Swift:

The Celebrity 100:

• Earnings estimates for June 1, 2009 to June 1, 2010
• Social rank calculated using metrics, such as Facebook friends and fans, as well as Twitter followers
• Overall press mentions on Factiva
• The number of times a celebrity’s image appeared on the cover of 25 consumer magazines
• Web hits on Google Blog Search
• TV/radio mentions on LexisNexis

I think this information is a good reminder that in our own measurement activities, we can’t just rely on the number of eyeballs that see a particular message.  We also need to delve deeper and look at how a brand’s initiatives affects the company’s revenue stream, reaches new audience members and encourages behavioral change (like going to see a concert or purchasing a basketball jersey).  It’s certainly not going to be the same exact formula for every brand, but I think that as we continue this conversation, we will be able to share best practices among many experts in a variety of industries.

Have you found a great way to measure social media success?  We’d love to hear from you.