20 Essential KPIs to Optimize your Social Media’s ROI

July 27th, 2017

20 Essential KPIs to Optimize Your Social Media ROI

SPEAKER

Christine Carzo

Marketing DirectorDigimind

DISCOVER:● How to build effective KPIs for your social media strategies

● 10 rules for developing your KPIs

● 20 essential KPIs for you to measure your social media ROI

● How to design and use dashboards for your KPIs

TURN INSIGHTS INTO ACTIONS

@digimindci

OUR VISION

Insight-Driven is the Next Shift to Digital Transformation

“Insights-driven companies will grow at least 8 times faster than global GDP”

THEY RELY ON

CAMPAIGN EXECUTION

STRATEGIC PLANNING

ANALYSIS

Digimind Social Vision: Transform data into actionable insights at each stage of the marketing process

Campaigns

Competitors

Market

Segmentation

Marketing Mix

Messaging

Reach

Amplify

Convert

famille

procès

déforestation

How to Build Effective KPIs

What Are KPIs? Key Performance Indicators are

measurable indicators that help make decisions.

- Analyzed on a weekly, monthly or quarterly basis.

For Marketing→ Define the criteria taken into account when measuring the effectiveness of global marketing

actions, a communication campaign, or a specific action (PR, influencer marketing, etc.)

First: Define Your ObjectivesBefore developing your KPIs, define your goals.

What are the objectives you wish to achieve through yourdigital actions?

- Improve brand reputation - Become a thought leader - Drive lead generation- Detect influencers and ambassadors

These objectives must be derived from the global marketing strategy!

10 Rules to Develop Your KPIs

Locate your function and actions within this funnel = better clarify your objectives and therefore your KPIs

#1 Place yourself in the marketing funnel

10 Rules to Develop Your KPIs

#2Quantified performance indicators = Effectively set, evolve, and carry out your goals, both in the short and long term

KPIs are your friends

#3 There’s no right or wrongThese are your KPIs, they should match your goals and needs

10 Rules to Develop Your KPIs

Closely match your daily activity and working patterns#4 Personalize

#5 Think qualitativeAdd context to your KPIs

10 Rules to Develop Your KPIs

Analyze beyond performance - Predict the performance of future actions (predictive) but also to improve all the processes (prescriptive)

#6Analyze

#7 Think “Reference”KPIs with a reference base can help set your objectives and thus improve the relevance and legitimacy of the KPI

10 Rules to Develop Your KPIs

When you use the right tools, you can automate the data collection and metrics generation for many marketing activities

#8Use measuring tools to analyze your data

#9 Select the right KPIs Too many KPIs defeats the point of a KPI

10 Rules to Develop Your KPIs

Digital marketing is constantly evolving, your KPIs should too#10Evolve KPIs over time

familledéforestation

20 Essential KPIs for your Social Media ROI

5 Key Objectives

Brand Awareness KPIs

Brand Awareness KPIsObjective:Develop the awareness of your products and brand online and on social media

Tactics:Invest in Facebook and Twitter Ads, develop partnerships, etc.

KPIs should show:- Level of brand recognition on social media- Audience sentiment toward your messaging- Your brand reach- Your audience reach compared to competitors

Brand Awareness: Essential KPIs

MentionsImpressions Reach TrafficShare of Voice

Personalization Possibilities: TargetedGeographical- Country- Regions- City- District

Demographic- Gender- Age- Center of interest

Community Development KPIs

Community Development KPIs

Objective: Develop your target audience community on social networks

Tactics:Speak directly with fans, followers and subscribers to share and promote ideas

KPIs should show:- The importance of different social channels to your online community - The growth of your online community on different social channels- Your share of voice in “owned media” vs those of your competitors

Community Development: Essential KPIsShares per

ChannelOnline

Community Size

Growth of Online

CommunityTrafficShare of

Voice

Engagement KPIs

Engagement KPIs

Objective:Build relationships and demand among your target audiences to develop brand ambassadors

Tactics:Push high quality content, newsjacking, boost the visibility fan base posts and comments, etc.

Analyze to find out:The links and interactions with your audience and your online communities

Engagement KPIs: The Essentials

Engagement Volume

Engagement Development

Engagement Rates

As Well AsHashtag PerformanceNumber and growth statistics of hashtags citing your brand, related to your brand, number of official re-posts of your campaign(s)/event(s) hashtags.

Influencer PerformanceInfluence Score of your fans and subscribers

Client Satisfaction KPIs

Client Satisfaction KPIs

Objective: Improve the perception of your brand + product satisfaction

Tactics:Improve customer support responses via socialCreate case studies, success/innovation stories and share them on social

KPIs should show:The perception of your brand, products and actions held among your consumers and online users

Client Satisfaction KPIs: The Essentials

Sentiment Change Over

Time

Brand Mentions Sentiment

Number of CS Issues

Resolved

Customer Response

Time

Lead Conversion KPIs

Lead Conversion KPIs

Objective:Convert social media community into quality business sales leads

Tactics:Push targeted, high quality, gated content, offer free trials or product samples, reach out directly to social users expressing a need and offer a solution

KPIs should show:Volume and percentage of leads are originating from social media? (sponsored messages or organic)

Lead Conversion KPIs: The Essentials:

Lead volume Growth rate of leads from social

KPI Dashboards2

How Should They Be Organized?1. Social Media dashboards organized by channel type:

Paid, Earned & Owned Media

2. Dashboard organized according to your social media marketing funnel phasesBrand Awareness > Community Growth > Engagement > Customer Satisfaction > Lead Conversion

How Should They Be Organized?

3. Market/regional dashboard

How Should They Be Organized?

Conclusion

The importance of social media continues to grow at every stage of the marketing funnel. The key for marketers to show success in social will be to turn vast amounts of data into actionable insights. Here’s how:

1. Establish the right KPIs to measure performance2. Utilize the right tools to analyze data and create insights3. Prove the true ROI based on unique objectives

Q&A

Christine Carzo

Marketing DirectorDigimind

20 Essential KPIs to Optimize your Social Media’s ROI

July 27th, 2017

20 Essential KPIs to Optimize Your Social Media ROI

Thank You!