CONVERSION RATE
What: What % of website visitors that come from Social Media take a desired action (e.g. make a reservation, place an order, sign up to a newsletter etc)
Why: This, perhaps above anything else, will determine what sort of return from your investment into Social Media you’re likely to get. While its true that certain strategic objectives are intangible such as brand awareness, Digital Restaurant usually recommends having at least a couple of measurable objectives as part of the campaign so we can quantify performance.
ENGAGEMENT
What: A measure of the level of engagement on the managed social channels
Why: After conversion rate, measuring how many reactions (likes, shares, retweets, favourites etc) your activity and posts get is a good way to evaluate the relevancy of the content shared. At a very basic level, by drilling down to content type and categories, it allows us to understand the type of content that gets more reaction and therefore put more effort into it.
AUDIENCE GROWTH
What: Measurement of number of fans and followers increase over time
Why: In the short term, this is more of a vanity metric as the follower size of a social account is by no means indicative of engagement or even ROI. However, increasing audience size is always a campaign KPI and over a medium to long term picture, this metric does in fact help.
WEBSITE VISITIORS SOCIAL MEDIA VS ALL
What: A breakdown of where your website traffic comes from
Why: As opposed to tracking social referrals, this metric takes into account all your referral channels to help us evaluate the social performance against the rest. Since more often than not, the Cost Per Acquisition of a lead through Social Media is lower than other forms of marketing, the goal would be to put social on top of the referral list.
WEBSITE VISITORS BREAKDOWN
What: How much of your monthly traffic comes from your Social Media presence
Why: Whilst audience conversations that take place on the social channel itself are of course useful, for most restaurants, the important conversions such as a reservation or an order will happen on their website. Therefore, tracking how many fans and followers click through to your website is a good indication of engagement and overall performance.
