Social Media Metrics For Dummies

Using Current Metrics to Create New Business

You can also use your current metrics for future success. Big numbers to watch are your customer loyalty and referral metrics. These numbers can indicate future growth trends and allow you to capitalize on customer loyalty and referrals early.

The first of these metrics is your net promoter score (NPR). Your NPR answers the question, “How likely are you to refer our business to a friend/colleague?”

The second metric is your referral rate, or how fast your customers refer your business to others. This number ties in to your viral coefficient, or how viral your business, brand, content, or idea is in reality.

The average number of referrals tells you how many people you can expect repeat customers to refer over time. Referral conversion rates tell you how fast referrals are accepted, and the repurchase rate metrics tell you how fast and how often return customers purchase from you.

You can track all these metrics in two ways:

Through your ecommerce section of your analytics on your site

Through manual tracking of items, such as comment cards or rewards programs. Manual tracking can include importing data from an outside referral program into your analytics.

Utilizing these metrics, which you’re already gathering, can help you figure out ...