Kyle Reid Reveals Precisely How KSI’s Are Your Keys For Social Networking ROI
June 3rd, 2010
You need to measure your success in at least four ways. Look at User Engagement, Average Visitation Time, New Content and Return on Sponsorship Investment. Let us further investigate each of these.
The best way to tell if users are engaged is to look for the most extreme kind of users and start a conversation with them. Reward them for contributing by giving them power for example. Another way Is to simply acknowledge their contributions to the rest of the community. How long does the average user spend on your site. Per day? Per month? While pageviews and time spent on a site are correlated, the ratio is not directly proportional. However, you can consider 7 pages per visit to roughly translate to 3 minutes on the site. Don’t despair if these numbers are low. With the release of your next version, they could grow or even double.
Time on Site / Pageviews- This is an important statistic that varies widely across the competition. There are often benchmarks available for your industry (which can be found in google analytics). 10 pages per visit for example translates to roughly 4 minutes on the site per visit. Upon launch of your site or campaign you should be pleased to see 50% of the set benchmarks (i.e. 5 pages per visit and 2 minutes on average per visit). The expectation will be that these numbers can be doubled by Version 2.0 of the site once more community and networking features can be introduced.
You also need to take a look at how quickly new content is added to your network. This piece of data is crucial to your success because if you are not getting enough content, you will need to make changes so that either creating content is easier or so it is more attractive to the average user. Some users may browse but fail to contribute. What can you do to motivate this type of user to submit?
Your expansion into new geographical markets will be heavily impacted by the volume and frequency of created content. If it takes a long time to fill the pages in one city, next time, you can have different expectations when expanding into a particular region.
Don’t scare away advertisers from the beginning. When you are just starting up, make sure they get any appropriate discount. Only if your community proves to drive business to your sponsors will they feel it is worthwhile to stick around. If you provide the right demographics, you will be set.
You may be interested in knowing that higher Cost Per Mille prices go along with niche-oriented sites compared with big all-purpose communities. Play this to your advantage if you are dealing with the former.
Author Kyle Reid has committed their daily life to studying Web 2.0. Have a desire to discover the truth concerning just what Kyle Reid can do for you? That’s the reason Kyle Reid is here to help! You’re likely to see it’s exceptionally effortless to secure the paybacks associated with using Kyle Reid.
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