When tracking social media metrics to determine ROI, understanding the business model helps brands choose relevant KPIs.
For a direct-to-consumer or B2B company, social media activations will revolve around boosting sales. This means the businesses will look for page views, link clicks and time spent on the website. On the other hand, A SaaS company will rely on a more complex sales funnel and customer actions.
For example, the brand will track metrics like page views and post likes and then follow macro-actions like brochure downloads and trial requests before heading towards sales. Similarly, brands must also choose metrics particular to different stages of the sales funnel.
The top of the funnel translates to metrics like how many impressions an organic post reached. The purchase stage of the funnel needs marketers to track metrics like how customers eventually added products to the cart.
[7 minute read]