Setting KPIs for your Employee Advocacy program is a crucial aspect of building up a program that will last, and importantly, bring results to the entire organization. Tracking performance accurately leads to valuable insights on your social media audiences, content marketing, social selling efficiency, and even your employees.
Deciding on the right KPIs ensures that any shortcomings can be adjusted along the way, and what’s working can be communicated to all participants and higher management. When the ROI of the program is measured, everyone’s efforts count and the maximum potential of the program can be reached.
How do you get started on setting KPIs?
Tie it To Your Overall Strategy and Values
You should make the best out of an Employee Advocacy program by first looking at your overall goals, and making sure that the KPIs can be tied to your business strategy. By taking into account your values, you can integrate the Employee Advocacy program and tool into the company’s marketing, sales and HR procedures in a lasting way.
Start by looking at the big picture. What are your organizational values and goals? What do you hope to achieve in the next X years? What changes must take place for these goals to be achieved? Once you recognize some of these strategic components, you’ll be able to tie in initiatives and technology to departments and specific goals better.
Next, take it to the department level.
If you measure marketing metrics, such as engagement or reach, you should not only think about what larger goals they contribute to, such as conversion rates or website traffic, but also their effects on other goals, such as bounce rate can be.
Make Sure They Are Measurable
KPIs that can effectively prove the program’s ROI make it easier to get C-level on board and invest in it. Technological necessities available for making it happen, as well as allocating the right monitoring procedures (people, tracking systems) need to be in place, though. For example, improvements in lead generation should not be set as a KPI, if the required system integrations are not in place.
Start by looking at the goals you want to set, and then consider the requirements for being able to measure them effectively. If you wish to invest in tracking recruitment processes and set HR as a major stakeholder, could this be the time to invest in some necessary technology?
Involve Different Departments
While bearing in mind that the KPIs should reflect the overall strategy and possible problem areas (hence they can be focused on specific areas), setting KPIs across different departments will also engage different groups and keep them active. The departments involved in the KPI metrics have a personal gain in wanting to contribute to them.
Let’s look at some KPIs according to each department.
-Estimated Earned Media Value (EEMV)
This refers to money saved through media publicity that’s not purchased. EEMV is the value of the clicks your posts have generated by comparing the number of clicks to the price of Cost-Per-Click (CPC) advertising on matching social media networks. When measuring EEMV, remember to take into account your industry and country averages.
Website traffic is a crucial for increasing conversions, driving brand awareness and proving the ROI of marketing efforts. Website traffic through the Employee Advocacy platform can be measured in Smarp. Any improvements within a given time frame require insights from other through Google Analytics or the organization’s own analytics tools.
Reach and exposure online are among top metrics for driving brand awareness and conversion. Employee Advocacy can significantly increase the brand’s reach through the extensive networks. The reach of the Employee Advocacy program can be monitored on the platform (number of employee advocates multiplied by the size of their networks). By calculating and monitoring reach through Employee Advocacy, you will find that your employees’ reach is multifold compared to the brand’s corporate social media pages combined.
-Opportunities Generated Through Social (Selling)
Lead generation is one of the first things the sales department looks at when looking to prove the ROI of Employee Advocacy. How many new opportunities or leads have you created with the content posted through the platform? Prospects clicking on and engaging with the content is a good sign of the content’s efficiency in driving brand awareness, and increases in prospect and lead generation through the content means that it is helping create sales opportunities.
-Leads Generated Through Social (Selling)
This signifies prospects turning into leads, the definition of lead depending on the company’s own processes for defining sales- or marketing-qualified leads. Tracking these leads in this case means that prospects have engaged with the content posted on social and then taken that next step of becoming a lead on account of this piece of content and possible conversations that took place around that post.
Monitoring employee engagement provides valuable information on how the program is performing overall. Successful employee engagement to the program can also benefit internal communication and company culture.
What is the number of active users in the Employee Advocacy platform? How much do employees engage with or propose content on the platform? The more actively employees propose content, the more actively they are looking for information that benefits the organization as a whole. How much are different departments committed to the program. What about C-level? Is one unit particularly engaged? If so, what can be learnt?
When mutual connections recommend an employer to their acquaintance, the applicant tends to be more involved and informed from the start, which contributes to high-quality applicants applying. This positive word-of-mouth is also great for employer branding purposes and creating a pleasant image of the brand as an employer. By monitoring the rate of referrals applying to a job and their commitment to the recruitment process is key for measuring social recruitment effectiveness; Do the applicants come through job ads shared through the EA platform? UTM tags are the key here.
-More high-quality applicants
Tracking the quality of applicants is key for measuring recruitment effectiveness. What is the rate of applicants who end up coming to an interview after sending out an application? How many applicants who apply for the organizations end up coming to an interview? This correlates with the applicants’ genuine interest towards the employer (job ad spotted from an acquaintance) as well as their suitability for the company, when they continue with the recruitment process until a later phase. Through Employee Advocacy, employers can also effectively appeal to applicants who are not actively looking for a job, as the recruiter reaches them on their social channel.
Does Employee Advocacy and the content shared thereof boost internal communication? Measuring internal clicks, comments and likes of the content posted on the Employee Advocacy app, can yield insights on what type of content is most popular and sparks discussion among employees. Employees can be surveyed on whether Employee Advocacy has made communication more open or transparent. Monitoring mobile vs. web app engagement is important for reaching employees (on the go).
Remember that employees are more trustworthy than branded content. Creating a positive image of the organization is a key component of encouraging employees to share employer-related content through the Employee Advocacy app. Whether the content is job ads, behind-the-scenes material, company blog posts or industry insights, employees have the potential to create a certain image of their employer to their networks. Engagement and reactions to this content among employees’ networks can be monitored for insights on how networks perceive the organization.
There are also other valuable goals to set for an Employee Advocacy program.
-Personal Branding of Employees
Personal branding is big. Have employees seen a boost to their personal brands through the content curated on and shared through the Employee Advocacy platform? By increasing the amount (and relevance) of the content employees share to their networks, they can increase their top-of-mind and expertise online. SmarpScore is an influencer score that provides numerical insights on how employees are gathering clicks and engagement on their content.
- Thought leadership
By providing them with a steady flow of content, employees can see a significant boost to their positions as an expert in their field. In addition to SmarpScore, encourage employees to monitor if they are consulted in matters of their industry, and how much they have been able to grow their professional networks.
- Don’t Forget Internal Engagement!
Even if you don’t set it as an official KPI, employees’ engagement with the program is an essential goal to keep an eye on. If employees do not contribute to the program, there is very little to build on. Conversely, employees who are engaged with the program can make the program beneficial for all departments.
Also, if you are unsure about KPIs and which ones to go for, start with investing in internal engagement, particularly at the start of the program. Think about goals that could be important for your organization, while finding out about different KPIs.
Actively survey the needs and insights of employees for measuring the level of employee engagement, and what they employees are hoping from the employer and the program.