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Many organizations try to grasp their success in the social media arena by the amount of visits to their websites. Many then try to translate these numbers into meaningful financial figures - if I spend x then I should get this many visitors, but without more targeted KPIs the ROI analysis they crave remains elusive.
The greatest strength, and to some extent its greatest weakness is that social media is all about the numbers – and there are lots of them. Visits, conversions, likes and many more all contribute to the swell of data created by social media. We have compiled a short list of our top social media KPIs to help you get to some real ROI figures:
Social Stickiness
Measures the quality of the site content and aesthetic appeal, by compiling a set of metrics such as visit frequency, average visit duration and inbound links.
Visitor – Promotion related action
Measures the number of visitors who choose to perform an action on your site related to a direct marketing spend / promotion.
Revenue from first time visitors
Measures the revenue generated from a first time visitor, minus the total revenue from the website.
Pay per click (PPC) – Cost per action / Sale
Measures the cost per lead through a PPC campaign (can be reworked to show a directly related 'call to action' from a specific marketing campaign).
by Stuart Kinsey
Stuart Kinsey writes on Key Performance Indicators, Dashboards, Marketing, and Business Strategy. He is a co-founder of SimpleKPI and has worked in creative and analytical services for over 25 years. He believes embracing KPIs and visualizing performance is essential for any organization to strive and grow.