When dealing with digital marketing professionals defining social media KPIs can be one of the most difficult challenges you will face, but one of the most important steps you must take to create a successful Digital Marketing Model.
A failure to define KPIs for your social media and digital marketing is one of the main reasons businesses fail on social media and business owners and marketing managers can be so sceptical.
Defining KPIs gives businesses a measure of whether what they are doing online is working or whether they are wasting resources and money on a marketing boondoggle.
KPIs create accountability for those in charge of social media and digital marketing and empower them to build on success and discard failure, whilst giving management the visibility they need to manage the investment of knowledge, resources, time and capital.
What KPIs Should You Use
The KPIs you use for your business should be in line with the overall marketing objectives of the business.
Rather than just listing the goals as more sales break this down into more manageable chunks that contribute to the overall goal. These can include
Driving traffic to the website
Driving traffic to sales pages
Increasing the reputation and audience reach
Increasing your company’s SEO visibility
Enhancing reputation and trust with customers & influencers
The KPIs We Use
So for DowSocial we set these goals as follows as we know hitting these KPIs will lead to more business
Monthly increase in web traffic
Monthly increase in email subscribers
Number of inquiries from influencers to collaborate
Notice how despite having a strong social media presence the growth of these platforms on their own are not considered KPI’s this is because we cannot link a follower count to growth but we can a web traffic, newsletter subscribers and inquiries from influencers.