Create a list of the 10 most relevant questions CMOs need to answer, such as “What is the cost-per-acquisition per channel?” Once you have defined these questions, determine your Key Performance Indicators (KPIs) and create an analytics strategy focused on answering those questions.
Define KPIs during campaign/site planning and tie them directly to your business objectives. During the initial phase, conduct user testing, prototyping and A/B testing against those predetermined KPIs.
-Make sure your media buyers, social media team, agencies and vendors are in alignment regarding your analytics and measurement strategy.
Measuring Social Media ROI requires marketers to focus on assigning a dollar value to how much a social action (such as a “like” or Twitter/LinkedIn follow) is actually worth. Then, marketers need to back those numbers into how much revenue these various social channels generate.
?-Track valuable on-click events if they are not page views, such as newsletter signups and offsite links. These events are just as important as any actions that resulted in more page views.
Source: Alex Lirtsman, partner-digital strategist, Ready Set Rocket