Quantifying Social Media objectives through KPI’s
KPIs, or Key Performance Indicators, are the key performance indicators, necessary to quantify objectives. We can consider them as the control guidelines that serve to diagnose if the strategy we follow is the right one, if it works correctly, or which aspects are susceptible to change. KPIs are applicable to many areas of business strategy; They are generally used to quantify the performance of activities that are not easily measurable. Today we will focus on your adaptation to the Social Media strategy.
It is essential to have an adequate list of well-defined KPIs. The characteristics that KPIs must meet are summarized in a SMART word, an acronym that perfectly summarizes their main characteristic: they must be intelligently defined; for this they must be:
Specific (Specific): KPIs must be specific and specific, they do not serve generalist or theoretical objectives. An example would be to determine the number of daily mentions to the brand, instead of “presence in social networks”.
Measurable ( Measurable): Perfectly measurable. If we are not able to evaluate them in quantitative terms, they can not be considered KPIs.
Achievable (Achievable): Must be achievable. It is necessary to select tangible objectives, it is not hypothetical. For example, if you just started with your blog and still do not have a minimum presence in the sector, a valid KPI would not be “number of posts in our blog written by relevant contributors in the sector”.
Relevant (Relevant): It is essential to establish relevant parameters for the company. When defining them, you have to think about what information that KPI really contributes. It is useless to measure results that do not offer useful and decisive data.
On time (Timely): They must be measurable indicators in real time.
To be specific, some of the KPIs of a social networking strategy could be:
- Number of followers
- Number of mentions to the brand
- Number of comments
- Number of interactions with the brand
- Type of comments (positive, negative, neutral)
It is especially important to define the KPIs when planning a strategy in Social Media. Given that this is a data that must be taken into account at the time of establishing the actions we are going to carry out to pursue the objectives proposed in the strategy.
It is necessary to devote the necessary time to the definition of key determinant indicators for our business; in the same way that we act to establish the objectives. Only then will we be able to design successfully the actions that will be part of the Social Media strategy.
Likewise, once this strategy is implemented, the analysis of the KPIs will help us determine if we are on the right track or, on the contrary, we are not getting the expected results and it is necessary to redirect the strategy.
What KPi’s do you use in your Social Media strategy? Which are the most relevant to achieve your goals?