Tag: metrics

Financial Advisors: ROI Metrics for Social Media

One of the barriers to Social Media marketing investment is the insufficient metrics to measure the impact. That said, I have compiled a quick list of ROI metrics for Social Media. Use them in your campaigns or use them to convince management to make that resource marketing investment.

  1. Clicks
  2. Likes
  3. Comments
  4. Shares
  5. Followers
  6. Connections
  7. Friends/Fans
  8. ReTweets
  9. Impressions
  10. Reach
  11. Audience engagement rate
  12. Organic mentions, like @mentions
  13. Site traffic (clicks back to website from a Social platform) or “sessions” by Social Media source

Take a look at the above metrics. Does your leads or new client acquisition correlate with the metric data? Keeping track of the data will give you an idea of whats working and whats not working in your Social Media strategy. Metrics are important because they tell if you a campaign or marketing strategy is successful over time.

What is a Twitter Impression?

Twitter defines it as “Times a user is served a Tweet in timeline or search results.” Think of it as the broadest possible metric for a social post. Example – when you drive past a “Billboard” on a highway and you glance over at it. That’s considered an Impression. Billboard being a user Twitter post.

How to Measure (ROI) Non-Tangible Social Media Campaigns

Before starting any Social Media effort you must DEFINE your goals and targets.

Basic Social Media Campaign KPI’s (Tangible) measurements:

1. Product sales or qualified leads. New customers acquired. Not included: “converted leads” which are the responsibility of the sales organization or account manager.
2. Increased SERP ranking.
3. Increased revenue, and/or market share.
4. CTR (Click-through rate), etc.

These are just a few basic metrics that you can use to measure your Social Media campaigns. So how do you measure the ever important “non-tangible” Social Media ROI?

1. The quality of “buzz” or change in sentiment. Think Twitter buzz or the quality/quantity of blog feedback/comments. Develop an in-house engagement metric.
2. Amount of relevant people handling digital content.
3. Amount of “followers” or new members after a social media campaign. Not everyone’s social media goals is to sell product. Could be a branding goal or a service type goal.

In the end, Social Media campaign goals must lead to increased revenue, SERP rankings, leads, branding/loyalty, or better service. It’s easy to present the tangible information to your boss or client. Make sure the non-tangible information is measured as well.