In order to measure ROI of the social selling programme, it is important to benchmark the key parameters of social selling programme at the beginning. The key parameters which need to be tracked includes the following:
- Klout score: The Klout Score is a number between 1-100 that represents your influence. The more influential you are, the higher your Klout Score
- Follower base on Twitter: Number of followers on Twitter
- Follower base on LinkedIn: Number of followers on LinkedIn
- Follower base on Google+: Number of people following on Google+
- Engagement: Number of posts on a social media platform including likes, comments, share
- LinkedIn’ Social selling index: The Social Selling Index (SSI) has been an important tool for sales professionals who want to go beyond social selling activities and measure how those individual efforts add up.
- Deals originated and impacted from Social media platform
The selection of parameters depends on the maturity level of the organization in terms of executing social selling. The companies which have begun their social selling journey can leverage parameter 1-4 while the matured organization can leverage parameter 5, 6 & 7.
The parameter 7 which is related to deals originated and impacted from Social media platform requires modification in the CRM system. CRM system needs to be modified to capture the deal source as “Social selling”. Further the channel name can be captured within CRM system to calculate the ROI of social selling programme with respect to a particular social media platform.
Apart from benchmarking which needs to be done at the beginning of the programme, it is important to define the measurement frequency. Measurement can either be weekly or fortnightly.