Social Media KPI
Social media has become a must for any business that need a significant online presence. As such social networks have become a key marketing channel, a place for campaigns to be launched and reputation to be built. This is a great opportunity for a brand to increase awareness and bring more traffic to its web page as more relevant content can be pushed to a wider while targeted audience. Just like with any other marketing activities, results need to be measured! A social media agency can help every step of the way from defining the target, to crafting the right messages and give guidance on how to set social media KPIs which are big part of the new marketing KPI.
KPIs for social media ROI is also what help them justify their intervention overtime which is why setting up proper social media analytics should be the first thing to do before launching social media campaigns.
How To Set Social Media KPI
Social Media KPIs need to relate to the marketing objectives. When setting a company profile on a social network, what are we trying to achieve? Answering that question is the first step for the social media KPI manager before selecting the right tool or a social media KPI framework. If the objective is to increase the traffic to the website, the social media KPIs will focus on metrics such as the click rate and overall conversion rate potentially by sector or profile. If the objective is to increase the brand awareness, the social media KPIs will rather focus on tracking shares and reactions to what has been posted.
Tracking the social media performance has similar challenges than other traditional marketing KPIs. First challenge when looking for the right social media KPI tool is the ability to merge data from different sources. You may for examples want to show in the same graph what was planned versus what actually happened. A large set of visualization options and the ability to share results are 2 other critical components of efficient Social media reporting.
Discover more about marketing KPI with our other guides :
A social media kpi scorecard can help the social media coordinator drafting what he is trying to accomplish with the social media KPIs. Working with social media requires to be agile especially answering comments to a post or sharing relevant material fast enough or simply adjusting campaign parameters in a timely manner to optimize the budget. Because of that people tend to forget to also be strict and rigorous in the tracking method.
Here is a social media key performance indicators list that can help:
Performance of each social media channel used:
- Number of mentions
- Blog subscribers
- Inbound links
How big has your brand reputation become:
- Share of conversation vs competitors
- Number of brand evangelists
- Sentiment positive, neutral or negative
Is your social media action helping your sales:
- Sales revenue
- Registered users
- Number of leads (per day, week, month)
- Cost of lead
- Lead conversion rate
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