Follow Up on Social Media Metrics

PrintA few weeks ago I posted an entry titled “Do Social Media KPI’s belong on the Management Dashboard?”  As a follow up, I refer to a recent post on the Gooddata blog that highlights six key marketing metrics to track and report.

They list them in the infographic to the left.  A few of the key KPI’s they list include:

  • Engagement: Not just the number of followers or friends, but how much engagement are you getting in terms of the number of shares, likes and comments.
  • Conversion Rate: Not just the number of visitors to your website, but the rate at which the visits are converted to sales.
  • Click Through: Not the number of emails you sent out, but the number that responded to the emails by clicking through to the website.
  • Cost per Customer: Not cost per click or cost per lead but cost per customer, or better yet, cost per dollar of sales.

In addition to picking the correct social media KPI’s, as with all KPI’s, it is important to report them on a consistent basis and track the results over time compared to targets.