Tracking the Right KPIs: The Electronics Industry

The Role of KPI Analysis to Resolve Business Problems

Tracking the Right KPIs: The Electronics Industry

Introduction

Measuring social media metrics is important for understanding the performance of your respective Pages no matter what industry you are in. With the advanced measurement reporting of social Pages, companies in markets throughout the world can identify business problems and resolve these problems using the valuable insights gained from analytical tools. However, the problems that companies face are vastly different from industry to industry. This report will focus on how proper social media measurement can help resolve business problems for electronic companies.

Electronics companies require the intelligent implementation of social media structure and strategy to resolve their challenges. Some of these challenges include increasing website hits, raising brand awareness, gathering product feedback and providing social customer service. Although this is a difficult task, with the proper social media measurement electronics companies can effectively resolve many of these issues.

Important KPIs for Electronics Companies

  • Engagement Rate: The amount of user interactions (Likes, comments and shares) that occur with your Page.
  • Key Influencer Identification: Identifying the users that most frequently interact with your Page’s content.
  • User Activity: Identifying the times of days and the days of week in which your users are engaging most frequently with your Page.
  • Response Rate: The percentage of user posts or questions that the admin responded to.
  • Distribution of Fans: Identifying which countries your Fans are from.
  • Ad Analytics Tools: Receive analysis of paid social media advertisements.

Linking Business Solutions to Social Media Measurement KPIs

  • Direct ROI for Online Sales to Consumers
  • Brand Recognition/Awareness
  • Product Feedback
  • Social Customer Service

Direct ROI for Consumer Website Hits

For electronic companies that sell their products directly to their consumers, online sales are an important part of their business model. Now with the proper social media measurement tools, electronic companies can quantify and increase a direct ROI for consumer website hits. Which ultimately leads to an increase of online sales.

How to track: Post content on your Facebook Page or Twitter Profile, which includes a link to the product on your online store. Pull analytics off your website to determine if the consumer was on your social media Page before arriving at your website. Compare daily, weekly or monthly success rates of website hits for products that were promoted socially versus products that were not. Calculate the monetary investment of creating a particular post or social campaign with respect to attracting consumers to your website.

It is important to note that analytics surrounding paid advertising efforts can be similarly used to quantify and increase direct website hits. For more information, contact the author here.

Note – Make sure to compare products that are in equal demand, have the same amount of traditional advertising, promotions etc.

Why You Should Measure It

In order to increase the value of social promotions, it is critical that electronic companies focus on publishing engaging content with strong CTAs (Calls to Action). With KPI analysis of admin posts and social community demographics, electronic companies can optimize the effectiveness of future social content.

More specifically, electronic companies should measure post engagement rates, types of user interactions (I.e. Likes, Comments, Shares) and the types of admin posts that are most engaging (I.e. Photos, Videos, Links). Additionally, analyzing user demographics like country distribution of Fans and knowing the times of day and days of week your Fan base is most active is important for localizing content and increasing content effectiveness, respectively.

Most Important KPIs: Direct ROI for Consumer Website Hits

  • Post Engagement Rates
  • User Interactions
  • User Activity
  • Country Distribution
  • Ad Analytics

Product Feedback

Although sales and marketing efforts are significant factors in generating healthy revenue for electronics companies, the most primary focus of every electronic company is producing products that users love. With proper social media measurement, electronic companies can obtain objective consumer sentiment towards their products.

How to gather consumer feedback: Social media is an invaluable tool for gathering consumer feedback towards specific electronic products. Before the digital revolution, this information was collected primarily via focus groups and customer surveys, which are highly subjective forms of consumer research because consumers are typically incentivized.

With social media, electronic companies can receive product feedback simply by publishing a post about one of their products and encouraging user comments. Alternatively, the most socially progressive electronic companies should encourage larger amounts of customer feedback via creative Facebook campaigns or applications, which include call to actions like “share your thoughts on this new product feature.” With the ability to interact directly with a highly engaged community interested and engaged with your products, electronic companies can receive direct and unbiased feedback with just a few clicks of the mouse.

Why You Should Measure It

Every community manager should be responsible for tracking social feedback on every user interaction that occurs following an admin post about a product. This information then needs to be relayed internally for future product development. For example, if social media users are stating, “I love this product, but I wish feature X was more user-friendly,” then the product team should be aware of this information.

Community managers have the option of manually collecting this information or using a social analytics tool to monitor post engagement rates and track user sentiment. It is especially important to track key influencer product feedback as they are more likely to purchase future products. Lastly, community managers should be encouraged to participate in these discussions and provide additional product feedback.

Most Important KPIs:

  • Post Engagement Rates
  • User Interactions
  • Key Influencer Data
  • Response Rates

Case Study Examples

Be sure to check out how electronic companies like Sony and Samsung are using social media campaigns to connect with their social audiences.

Staff Writer

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