- Different stakeholders within a company require different types and volumes of social media metrics based on their roles and responsibilities. Community managers need granular digital metrics frequently, while executives require financial metrics quarterly.
- Standardized reporting templates tailored to each stakeholder group should focus on the perspective most relevant to their objectives. Community managers see digital and health metrics, while marketers review branding and trial data and executives evaluate financial impact.
- Interactive marketers must become the central hub for all social media metrics and distribute them appropriately according to standardized frequencies and volumes, helping stakeholders integrate social data into their work while focusing on the most important metrics.
1. Headquarters
Forrester Research, Inc., 400 Technology Square, Cambridge, MA 02139 USA
Tel: +1 617.613.6000 • Fax: +1 617.613.5000 • www.forrester.com
For Interactive Marketing Professionals
Executive Summary
Social media contributes value to interactive marketing programs in many ways — but measuring
that value is difficult. The sheer volume of social media metrics can quickly become overwhelming
and distracting for key stakeholders. To keep your team focused, you must become the hub of
your company’s social media marketing reporting and create standardized reporting templates and
frequencies for different types of stakeholders: frequent reporting of digital metrics to community
managers and social media strategists, per-campaign or annual reporting of branding and trial metrics
to other marketing team members, and quarterly or annual reporting of financial metrics to executives.
Different roles need access to different types of social media metrics
Social media marketing programs create an enormous volume of data: We’ve seen literally hundreds of
metrics tracked by the marketers, agencies, vendors, and sites that use social media.1
In many cases these
metrics are collected, evaluated, and distributed indiscriminately throughout organizations. However,
not every metric actually matters to your business — and while your organization as a whole needs to
track and understand all the different benefits of a social media program, not every individual member
of your organization needs to focus on the same type of social media insight.
We’ve identified three groups of stakeholders who regularly demand insight into the performance
of social media marketing programs: 1) the social media strategists and community managers who
implement social programs on a day-to-day basis; 2) the marketing managers and executives who need
to know whether social programs create marketing value for the organization; and 3) the business-unit
heads and C-level executives who must make decisions on social programs’ impact on the company’s
bottom line (see Figure 1). Each of these groups should primarily focus on different:
· Types of social media marketing metrics. The primary job function of each of these groups varies
dramatically, and so should the social media metrics on which they focus. In our report “The ROI
Of Social Media Marketing,” we introduced four key perspectives from which to view your social
media programs: the digital perspective, the brand perspective, the financial perspective, and the
risk management perspective.2
Each set of stakeholders must focus primarily on the perspective that
helps them fulfill their own job objectives and responsibilities.
February 22, 2011
Social Media Marketing Metrics That Matter
Communicating The Right Data To Different Internal Stakeholders
by Nate Elliott
with Emily Riley, Sarah Glass, and James McDavid