You’ve got your social media strategy and tactics in place. You’re measuring everything you can: tweets, retweets, followers, friends, shares, visits, bounce rate, etc. But what do all these numbers tell you about how successful your strategy and tactics are? What if you’re measuring the wrong things? What’s the impact to your social media strategy?
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business goals
Choosing the Right KPIs for Your Business
I’m often asked what KPIs (key performance indicators) are the most important for understanding how a business is doing online. My answer is always “It depends.” There’s not a set of KPIs that works for every business. Choosing the right KPIs for your business means understanding your business, your goals and what you’re trying to do online. KPIs are the metrics which tell you whether you’re moving closer towards your goal and objectives (see KPIs vs Metrics for more details).
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Defining Conversions
Just like Metrics and KPIs, Conversion is another measurement term which is often mis-used (thanks to Jim Suchara for the suggestion). A conversion happens when someone completes an action you want them to take — purchases from you, signs up for a newsletter, registers for a webinar, etc. So, just like KPIs (key performance indicators) measuring conversions requires first understanding exactly what it is you want people to do — what are your business goals and objectives?
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