21 Jan 14 Ways to Spike Social Media KPIs
Outlining key performance indicators (KPIs) for social media isn’t difficult. The challenge comes when you employ the tactics that pump up their performance. Here’s a look at 5 social media KPIs and what to focus on for better results.
This is the amount of followers that come from different social media platforms. Focus on:
Growth rate: Track gains in specific networks against your tactics
Fit: Use tools like Followerwonk and LinkedIn’s analytics to ensure your followers fit your buyer personas.
Activity: Tools like MangeFlitter can help you distinguish active from inactive followers on Twitter so that you know to unfollow inactives and pursue followers who are more relevant to you.
Influencers: Use tools like Inkybee to find strong influencers in your subject matter to target them and bring them into your audience.
Traffic gains from social are great, but need to be leveraged. Focus on:
Destination: Decide where your social media traffic will go, be it the home page or specific landing pages for conversion.
Path: Do your social media posts draw in users and guide them along a sales pipeline with increased engagement or do they just hit a home page or an offer page? These are all valid paths depending on your goals, but this has to be mapped out or you’ll fail to align your social media efforts with attributable results.
Actions: With a set path, define the typical actions a user will take and how that delivers on your goals. For example, a LinkedIn post on an e-book could lead to downloads and eventually sales. If you track this in detail with your sales team, you could measure how many e-book downloads lead to sales and how much of an average sale so as to ascribe a rough dollar value to LinkedIn posts promoting e-books. Clearly, this can be an intricate rabbit role, but it’s valuable when proving the ROI of your efforts.
In this case you’re tracking shares, comments and likes. Focus on:
Volume: This is your baseline sense of overall shares, likes and comments of your posted content in different social networks.
Types: Tracking content subject and format lets you know what captures people’s attention the most. For example, research from Shareablee shows that videos are shared much more than photos on social media:
This may work for your audience—or not. But as they saying goes…”if you can’t see it, you can’t measure it” – you must track in order to know.
Influencers: Besides actively targeting influencers using tools, tracking who shares your content and their level of followership allows you to identify influencers among your followers. You can segment out these influencers for specific campaigns or take it further by hiring them to promote your products to their followers.
Scheduling: Mix up your posting on social networks at different times to see which times of day deliver the most shares and clicks. While studies continually announce rules of thumb for times, this is best measured by you specifically for your company to see what works best. Once you know then you can adjust your Hootsuite or Buffer scheduling.
Different studies suggest different ideal times and amounts to post on different networks. Focus on:
Volume: Stepping up or scaling back your posting over short periods will allow you to check the affect on traffic from those social networks.
Type: Heavy posting on Facebook can be seen as spamming, whereas Twitter or LinkedIn can allow for more frequent updates, so you have to experiment with frequency with each channel to determine the right frequency that works best for your company.
While a 2015 TrustRadius marketer survey showed that 71% use social media to increase traffic versus only 29% that use it to convert, sooner or later you have to prove ROI. Focus on:
Baseline: A quick look at Analytics should tell you how much traffic hits your site based on other tactics like banner ads or search ads and further analysis should tell you how much of this traffic converts. While it’s not an exact apples to apples comparison, it does give you a conversion percentage to measure your social media conversions against.
Strategy: Generally speaking, organic social media posts don’t directly lead to sales for most companies the way a banner ad or email will. But as social posts kick off engagement, a plan must be in place to route users to a landing page or site page to build on this engagement. For example, a blog post on social media can lead to clicks to a content hub, at which point a banner inside the post can contain an offer. However, it may work better to use different grades of content to gauge user interest and capture their data to directly pitch them later via email. So a post on wrinkles can offer tips and prominent banners and the blog site can offer more content on wrinkles that captures data on prospective customer who wish to access this information. If a user reads a post on wrinkles then watches a video with concealment tips and downloads an e-book on the topic, their interest in removing wrinkles is strong and content has “qualified” them, so to speak, allowing you to target them directly with a product offering. Or companies that retarget Web site visitors with straight discount ad offers can offer content instead that engages the visitors along a specific sales conversion path with more content until an offer is made and accepted. Regardless, conversion with social media requires a distinct plan with different tactics that will take the user from initial engagement and turn them into a prospect. It sounds like a lot of work—but it does work. In the B2B context, research from Implisit showed that social media was the #2 method in leading to conversion, ahead of email marketing and paid search, among other tactics:
And even in the B2C world, social media is among the top 3 tactics that lead customers to the “buy” stage, per a recent eMarketer survey of CMOs in the U.S. and Europe:
These focal points in social media KPIs clearly point to the need for a highly integrated digital marketing plan that works in not only social but also content, eblasts, paid digital ads, PR and more, all working together yet clearly attributable.
Contact us to find out how we turn this intel into a strategic plan to pack your sales pipeline.