KPI – Key Performance Indicators – Measure What Matters!
Key Performance Indicators, also known as KPI or Key Success Indicators KSI, help define and measure an organization’s progress toward business goals. Once a company has analysed its mission, identified all its stakeholders, and defined its goals, it needs a way to measure progress toward those goals. Key Performance Indicators are those measurements.
Key Performance Indicators are quantifiable measurements, agreed to beforehand, that reflect the critical success factors of an business. They will differ depending on the organization. A business may have as one of its Key Performance Indicators the percentage of its income that comes from return customers.
Social Media Measurement –> Key Performance Indicators List:
What social media channels are you using, how can people reach you, are you visible?
- Number of mentions
- Social bookmarks (SumbleUpon, Delicious)
- Inbound links
- Blog subscribers
How likely are followers going to engage, spread your message and interact with eachother?
- Forward to a friend
- Social media sharing
- Like or rate something
- Contributors and active contributors
- Unique visitors
- Traffic from social networking sites
- Time spent on site
- Response time
How do attitudes change due to the social media activities?
This is the branding value that should convert into sales.
- Share of conversation vs competitors
- Net Promoter
- Sentiment positive, neutral or negative
- Number of brand evangelists
The raw output of your social media team. It is important to measure if increases in your input produce similar or better increase in the other KPIs. And, of course, your boss probably wants to know how much are you spending.
- Blog posts
- Facebook updates
- Forum posts
- Social media marketing budget
- Social media staff payroll
- Social media development costs
Action and ROI
How many sales and other real world result do you get from social media?
- Conversions (email subscriptions, downloads, install widget or tool, etc)
- Sales revenue
- Registered users
- Issues resolved and resolution rate
- Number of leads (per day, week, month)
- Cost of lead
- Lead conversion rate
- Cost of sale
- Revenue (per follower, lead, customer)
- Lifetime value of customers
- Support cost (per customer in social channels)
- Share of repeat customers (from social media vs other channels)
- Transaction value per customer
- Money in the bank, net profit, etc