This one is a follow-up post to my earlier post ‘HOW TO Measure Engagement – Social Media KPIs‘. In this post, i would like to talk about ROI of social media. Or, would it be better if I say we use the term Return on Experience (ROE) instead of ROI?
I will choose to talk about ROE, since ROI discussions are something most traditional marketers enjoy hiding behind! No offense meant but the mere idea of talking about ROI in traditional on assumption while ROI in social to be obvious – eyebrows will rise! Though ROI in traditional is something now brands have agreed to go by through the years, social has a long way to go if that were to be the case.
That’s about it on that in this post. Another post opening up that debate 🙂 soon.
So, as a general rule, we could use the following 3 broad KPIs to measure success:
- Exposure – How many people will be exposed to our brand/activities?
- Engagement – How many people will engage with our brand/activities?
- Evangelism – How many people will create content and evangelize our brand/activities?
Broadly these 3 will define your success. A set of KPIs for each of these will further breakdown numbers coming from all the social channels and networks that our campaign will leverage. Each one adding up to another, some overlap like a comment on a post amounts to engagement as well as evangelism though it should fall under engagement.
What do you think about this. Looking forward to your feedback/queries in comments.
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