SocialLadder is a data focused tool that allows you to view high level metrics about the success of your program and further allows you to drill into those metrics down to specific campaigns, tasks, segments, ambassadors and even individual submissions and social posts.
All of these KPIs can easily be tracked within the out-of-the-box reporting suite provided in your admin portal. Additionally, we offer a robust ad-hoc reporting solution using PowerBI to allow you to create customized reports and dashboards to view the KPIs that are most important to you in the way you want to view them.
Below is a breakdown of the various types of KPIs that can be tracked within SocialLadder.
Overall Program KPIs
These are KPIs for the overall program that can be used to compare to your other marketing channels.
ROI - Return on Investment is the most important KPI within SocialLadder. SocialLadder tracks value and cost of every ambassador and task and summarized this to give you an overall ROI for your entire program.
CPM - Cost Per Mille is another important metric and allows you to see the average summarized cost for every thousand impressions generated by your entire program.
EMV - Earned Media Value allows you to measure the overall value of the content created by all of your combined ambassadors.
CAC - Custom Acquisition Cost is an important metric for anyone tracking conversions. SocialLadder tracks every conversion and provides and overall CAC for your program.
Recruiting and Team Growth KPIs
These are KPIs that can be used to monitor the success of your recruiting strategies and overall program growth.
Ambassador Growth Trend - Track how your ambassador team growing month over month to ensure you're reaching your growth goals.
βAmbassador Engagement Rates - Track how engaged your ambassadors are to make sure you're not losing engagement as you grow your ambassadors.
Ambassador and Segment Effectiveness KPIs
These are KPIs that can be used to monitor the overall effectiveness of your team and can be used to compare various segments within your ambassadors to determine which segments are outperforming others.
Submission Rates - This is the rate of how much content your ambassadors is submitting vs the maximum submission they are allows to submit.
Completion Rates - This is the rate of how many tasks are being completed by your ambassadors vs all of tasks assigned.
NOTE: Submission Rate and Completion Rate are different metrics. A single task can require multiple submissions to complete.
Engagement Rates - This is a rate of how many of your ambassadors overall or within a given segment have engaged with your brand over the past 7 days.
ROI - Just as you can look at Return on Investment over your entire program, you can track at the ROI of specific ambassadors or segments.
Conversion KPIs
These are KPIs that can be used to monitor referral and conversion tracking among your ambassadors or segments of your ambassadors.
Conversions Rate - This is the number of conversions per ambassadors.
Direct Conversion Value - This is the total conversion value for sales / referrals driven by ambassadors.
NOTE: For conversions that to do not have an inherent value like an app download or account creation, you can configure a standard "Value" for each conversion that will be used by SocialLadder.
Estimated conversion LTV per ambassadors - This is the estimated total Life Time Value of all conversions driven by ambassadors. This is useful when the value of a conversion is better tracked as a Life Time Value of the conversion than the actual Value of the conversion. For example, in a program that driving new customers and a conversion is a "first purchase" by that customer, the value of the actual first purchase is inconsequential, but the average Life Time Value of a new customer is consequential. You can configure the average LTV that applies to your specific conversion into SocialLadder to enable reporting of this metric.
NOTE: This metric only allows you to configure an estimated LTV. It is possible to combine data from your system with data from SocialLadder to provide an actual conversion LTV. See the Additional KPIs that can be determined by combining SL data with your own metrics section below for more details.
ROI - Just as you can look at Return on Investment over your entire program, you can track at the ROI related specifically to your referral or conversion tracking.
Social Media KPIs
These are KPIs that provide insight into the effectiveness of social media content created by your ambassadors.
Earned Media Value (EMV) - This is a monetary value of all of the exposure gained by the content created by your ambassadors. Through our integrations with social media platforms, SocialLadder gets actual impressions and engagement data for specific social media content and uses industry standardized formulas to calculate the Earned Media Value for this content.
NOTE: EMV for individual posts will increase over time as the post gets more views and engagements.
ROI - Just as you can look at Return on Investment over your entire program, you can track at the ROI related specifically to your referral or conversion tracking.
CPM - This is the cost for every thousand views of content created by your ambassadors. Through our integrations with social media platforms, SocialLadder gets actual impressions data for specific social media content and uses this to give you the most accurate CPM possible.
Reach - This is the total number of people who saw the content created by your ambassadors.
Impressions - This is the total number of times content created by your ambassadors are viewed.
Engagements - These are specific metrics from social networks that SocialLadder collects through our direct integrations with social networks. This includes things like Likes, Comments, Re-shares, etc. Each network has different engagement metrics that apply to content for that specific network.
Engagement Rates - This is the number of engagements on a specific piece of content relative to the total number of followers this ambassador has on that social network.
Additional KPIs that can be determined by combining SL data with your own metrics
These are KPIs that cannot be tracked directly within SocialLadder, but can be tracked when data provided from SocialLadder is combined with data you may collect in your system.
Overall "Lift" by ambassadors - This is used to show correlation between the growth in metrics inside of your ambassador program provided by SocialLadder and the growth of your business overall. As your program grows, expands and gets creates more value for your brand, your internal metrics should show correlative growth to reenforce the value of your ambassador program.
βHalo Effect - This is used to show correlation between the "Lift" in specific locations relative to the ambassador presence in that location. For example, a DTC brand that runs a college focused ambassador program should be able to correlate an overall larger number of orders in and around the specific college campuses where they have ambassadors, compared to around colleges without ambassadors. Further, the same DTC brand should be able to track direct correlations between the degree of "Lift" around specific colleges and the overall size and effectiveness of the ambassadors at those specific colleges.
Actual conversion LTV of ambassadors - This metric is used to show the actual Life Time value of all referrals or conversions driven by Ambassadors. For example, a food delivery app that tracks a conversion as a new customer who makes a first purchase, can use data in SocialLadder to determine the population of all customers who were driven by ambassadors and then summarize all of the subsequent purchases made by all of this population to determine the actual true Life Time Value provided by all of these ambassador conversions.
NOTE: SocialLadder can provide an estimated conversion conversion LTV based on an average LTV for customers you can configure. See the Conversion KPIs section above for more details.