Social Media MBA- 21 KPI’s your business or agency must be measuring
First– ask yourself a question:
Which of the 3 website goals am I trying to achieve?
Websites typically focus on these 3 objectives:
Increase website traffic
Increase sales (Or what we help do- increase conversion)
Second– ask yourself what is my cost per lead? Cost per customer? Remember: LTV of a customer (Or life time value)
Third: Understand Quantitative VS. Qualitative measurements
Now for the 21 KPI’s your business or social media agency should be measuring:
1. # of unique website visitors per month
2. # of Twitter followers & # of Twitter lists
3. # of mentions of your brand, product or service on twitter (see the tool www.tweetreach.com )
4. # of Facebook friends/ Fans
5. # of clicks on bit.ly links (find patterns in the time of day) this is FREE PPC! HUGE cost savings I’ve personally saved companies over 20,000$ easy that they would of spent on PPC (who says social media is free??)
6. # of you tube subscribers
7. # of you tube channel views/ videos views
8. # of newsletter subscribers (or blog subscribers)
9. Know which traffic sources are sending you the most traffic (Google Analytics)
10. # of quality inbound links (SEO)
11. # of blog comments
12. # of opt ins to your list
13. # of linked in group members
14. Avg. time spent on site (social media increases this) More time is better
15. Bounce rate (you want this % as low as possible) Lower is better
16. # of leads, sales, and conversions (Percentage) This is the MOST IMPORTANT
17. # of customers you retain from social media (staying engaged and on top of mind)
18. % of revenue increase from social media marketing
These are just some additional supplemental benefits of social media:
19. How much a PR campaign or traditional campaign would of cost without using social media (Cisco saved 250,000$ that they would have had to spend) see video here: http://justinrfrench.posterous.com/social-media-saves-businesses-like-cisco-2500
They reached 90X the audience at 1/6th the cost with social channels.
20. Social Media produces much higher QUALITY of leads than paid advertising
21. Social media produces better conversion rates than email, PPC, CPA, CPM, etc.
Last Point: Social Media is just simple communications Duh!
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