Social Analytics Formulas to Use for ROI Reports

dleitch@morevisibility.com
Danielle Leitch Executive Vice President of Client Strategy, MoreVisibility

Posted on May 9th 2012

Social Analytics Formulas to Use for ROI Reports

Reporting on Social Media Marketing involves defining a unique set of key performance indicators (KPIs) that help to measure the level of activity and effectiveness of your brand within the social realm.  Social analytics can measure the impact of social media on your business.  This means collecting intelligence from aggregating and analyzing online conversations and social activity generated by your brand.  By using this data, your company will be able to improve and report on brand awareness and reputation, marketing and sales effectiveness, and customer satisfaction and advocacy. The benchmarks to focus on will be those that combine specific engagement metrics that result in lead generation. This reporting will help define the effectiveness of social media as it relates to marketing, sales, and customer service performance.   We have created the reference charts below with basic formulas for analyzing the metrics for the KPIs listed based on an Infographic created by  Awareness Inc.

These insights will help your company adapt to the social environment it participates in and to improve on the relationship people have with your marketing, sales, and customer service initiatives.   Social analytics can be a combination of real-time analysis for campaigns, or historical trend analysis of engagement and growth metrics.  By evaluating your company’s social analytics, you can report on the return on investment from participating in social media marketing successfully.

What are other KPIs that your company uses as a measurement for social media success?   Share your ideas or questions via the comments box below. We look forward to hearing from you.

dleitch@morevisibility.com

Danielle Leitch

Executive Vice President of Client Strategy, MoreVisibility

MoreVisibility is an Interactive Marketing industry leader and is part of a select group of agencies Google certified in both AdWords and Analytics. We have grown impressively over the past 11 years through a consistent flow of referral based business and are proud to be a six-time INC 500/5000 recipient. Our industry credentials are unparalleled and our commitment to client education and results tracking set us apart. MoreVisibility’s longstanding partnerships with Google, MSN and Yahoo have been instrumental in achieving highly favorable results for our clients. Our relationships with the newer Social Media channels are equally collaborative. The greatest strength of MoreVisibility is our highly skilled and tenured team. Our knowledge, dedication and enthusiasm continue to help our clients make meaningful improvements in the profitability of their online marketing efforts.
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Comments

Dubtizzle
Posted on May 10th 2012 at 10:40AM

Happy to find a posting on ROI. Question: How exactly are you measuring the sales from social media channels? Is this depending on E-Commerce websites?

 

 

jroppo
Posted on May 11th 2012 at 12:50PM

Great highlight of the metrics for tracking. ROI all starts with knowing how many people you’re capturing or missing out on. I work for a company that sells ROI services and products, and it all revolves around tracking metrics.

Michael Kook
Posted on May 13th 2012 at 10:46AM

sorry but simple voice countings couldnt be KPI.  for example, brand awareness came from the measurement of consumer knowledge and cognition.