Establish Key Performance Indicators for Social Media


In our previous post, Understand the Social Media Maturity Stage of Your Organization, we suggested that emphasizing Return On Engagement (ROE) rather than ROI may be appropriate for social media, especially inside the enterprise. In this post, we take a brief look at Key Performance Indicators (KPIs) that you should consider to help measure social media performance.

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Establish KPIs

Your Key Performance Indicators are not going to be the same as someone else’s. You need to determine what your organization’s goals are and how you are going to measure them. But to get you started, here’s eConsultancy Editor in Chief Chris Lake’s list[1] of 35 KPIs:

Key Performance Indicators

Alerts (register and response rates / by channel / Click Through Ratio / post click activity) Profile (for example, update avatar, bio, links, email, customization, and so on)
Bookmarks (onsite, offsite) Print page
Comments Ratings
Downloads Registered users (new / total / active / dormant / churn)
Email subscriptions Report spam / abuse
Fans (become a fan of something / someone) Reviews
Favorites (add an item to favorites) Settings
Feedback (via the site) Social media sharing / participation (activity on key social media sites, for example, Facebook, Twitter, Digg, etc)
Followers (follow something / someone) Tagging (user-generated metadata)
Forward to a friend Testimonials
Groups (create / join / total number of groups / group activity) Time spent on key pages
Install widget (on a blog page, Facebook, etc) Time spent on site (by source / by entry page)
Invite / Refer (a friend) Total contributors (and  percent active contributors)
Key page activity (post-activity) Uploads (add an item, for example, articles, links, images, videos)
Love / Like this (a simpler form of rating something) Views (videos, ads, rich images)
Messaging (onsite) Widgets (number of new widgets users / embedded widgets)
Personalization (pages, display, theme) Wishlists (save an item to wishlist)
Posts

Establish Key Performance Indicators for Social Media is the 48th in a series of excerpts from our book, Be a Person: the Social Operating Manual for Enterprises (itself part of a series for different audiences). At this rate it’ll be a long time before we get through all 430 pages, but luckily, if you’re impatient, the book is available in paper form at http://bit.ly/OrderBeAPerson and you can save $5 using Coupon Code 62YTRFCV

See the previous posts What is Social Media?, Social Sites Defined, Why Social Media? How is Social Media Relevant to Business? First Steps Toward a Social Media Strategy, and Decide What Your Business Will Do About Social Computing, pt. 1

Next up: Assign a Social Media Monitor


[1] Chris Lake is Director of Innovation for eConsultancy: bit.ly/cFjEe4

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About Social Media Performance Group

Social Media Performance Group is a premier enterprise social media consulting company that offers a unique approach to integrating social media into the enterprise — forget about the tools, it's all about the strategy! Rather than focusing on the tactics (do this or that on LinkedIn, Twitter, YouTube), first we work with you and your senior leadership to comprehend your corporate strategy. Once we understand your strategic objectives and goals, we show you how a comprehensive social media strategy can integrate with and support your corporate strategy. We take an enterprise-wide view based on our unique Enterprise Social Media Framework, which maps social media to all appropriate touchpoints in your enterprise. We go beyond the obvious quick hits — sales and marketing — and help you achieve social-media-driven results in areas such as product development, customer service, and employee engagement and retention. As a result, social media is not just bolted on; it is integrated with, and provides support for, your company's existing strategy and operations, yielding unprecedented results.
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