The infographic is actually part of Wishpond’s free new 25-page ebook “Social Success: The Ultimate Retailers Guide to Growing Your Business on Facebook“.
The ebook has a broader remit than social commerce apps (such as Wishpond’s Social Store and Social Offers) - covering general Facebook objectives, strategy, advertising and content for retailers – worth a read.
Our top takeaway – there four ways to measure social success
- Fan count (but consider fan value (purchase value + referral value (vs. non fans)
- Engagement rate (but read this article just out on why “engagement” is a lousy measure) (consider conversation rate, share rate, applause rate, people talking about this)
- Referral traffic to website (but consider also to store)
- Sales (volume or value) (but consider broader economic value – money saved as well as money made)
As you’d guess, we’re fans of those metrics than are measured in dollars – or have a clear dollar value, and like Martin Weigel from Wieden & Kennedy Amsterdam, we’re not at all keen on “engagement” as a measure; engagement is a vacuous, muddled and shallow concept that should be banned from the online sales and marketing lexicon. Engagement is as useful to your business as a pair of fetid dingo’s kidneys. Avoid.