The TSP Performance Framework is our approach to measuring social media.
The TSP Performance Framework ladders up from the soft metrics, such as reach and engagement, to the harder metrics, like sales and ultimately ROI.
Our clients have different business objectives so we tailor these by priority.
It enables us to align KPIs (what’s possible to measure) against the strategic objectives (what we aim to achieve).
We use a combination of tools, including Brandwatch, Google Analytics, Facebook Insights and Twitter Analytics, to look at the soft, social metrics (‘cold social’).
They allow us to measure campaign and activity performance in order to optimise our approach in real-time.
At a granular level, this could mean boosting a post that’s performing well organically, while more broadly we can track effectiveness by aiming to reduce cost per impression or engagement.
Brand metrics (‘warm social’) are a better measure of long-term impact.
We track these via surveys, enabling us to pinpoint shifts in metrics like NPS and brand affinity scores to feed into strategy and better understand the impact we’re having on the communities we manage.
Ultimately, however, the key measures we’re aiming to grow are revenue based (‘hot social’).
Tracking the average spend of our fans from the point at which they join our communities enables us to establish the incremental value delivered by social.
Social + advocacy = ROI.