Social Media Metrics
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One common mistake made by many people as they enter the world of social media is to assume that social media cannot be aligned with previously existing business objectives. On the contrary, in order for a social media campaign to be effective, it must first be targeted to achieve specific business objectives. In the following post we begin to outline several quantifiable objectives and metrics that social media efforts can be measured against.
Revenue and Business Development
- Length of sales cycle
- Repeat customers
- Customer retention rate
- New leads
- Referrals
- Transaction value
- Customer lifetime value
- Conversions (subscribers to sales)
- Website purchases
- Organic Search to sales
- % of converted leads (offline vs online)
Cost Savings
- Shorter issue resolution time
- % of issues resolved (offline vs online)
- decrease in support calls
- recruiting costs
- training costs
- % account turnover
- Overhead costs of communication
- Viable community driven innovation
- Concept to development cycle
Value awareness and Influence
- Brand loyalty
- Sentiment
- Share of conversation
- Frequency of mentions
- Net promoter score
- Subscribers
- Engagement
- Number of inbound links
- Votes , tags, bookmarks
- Fans, followers, group members