Question

What are Key Performance Indicators (KPIs)? What are some important KPIs that might be important for social media evaluation?

Answer 1

A KPI represents a strategic objective and metric that measures performance against a goal, strategic aligned metric- represents a strategic objective and measures performance against a goal. Multidimensional variety of distingusing features including:

• Strategy- KPIs embody a strategic objective.
• Targets- KPIs measure performance against specific targets. Targets are defined in strategy, planning, or budget sessions and can take different forms achievement targets, reduction targets, absolute targets.
• Ranges- Targets have performance ranges(above, on below target).
• Encodings- Ranges are encoded in software, enabling the visual display of performance (green, yellow, red) can be based on % or more complex rules.
• Time Frames- Targets are assigned time frames by which they must be accomplished. A time frame is often divided into smaller intervals to provide performance mileposts.
• Benchmarks- Targets are measured against a baseline or benchmark. The previous year's results often serve as a benchmark, but arbitrary numbers or external benchmarks may also be used.

Some important KPI's for social media evaluation are:

• Reach. It measures the the number of people exposed to a message.
• Frequency. It refers to the average number of times someone is exposed to a message.
• Site stickiness. It refers to the ability of a site to draw repeat visits and to keep people on a site.
• Clickthroughs. It highlights the number of people exposed to an online ad or link who actually click on.
• Sales Conversions. It refers to the number of people who click through who go on to purchase a product.
• Engagement. Average Engagement Rate allows you to check the pulse of your existing network and see how your social media efforts are resonating with this established base.