Meet the Social Growth Quality Index
This index is a directional indicator of the quality of the new followers you’re adding to your rolls. It indicates whether you are simply growing your base community numbers or, more preferably, are providing content or building a community that is increasingly creating more powerful connections with your brand. So what data do you need? You need your followers and average engagement numbers for periodic intervals over time. Your data could be as granular as measurements at the individual post level or as broad as aggregated monthly data. Here’s the math:
Let’s say “X” is your reach—we’ll use the total number of Facebook page likes (you can also use Twitter followers) recorded monthly—and “Y” is your average engagement per post (total shares, likes, etc.) for a month. Chart them in a spreadsheet, and use the slope function to calculate the acceleration of your return on each post. In this example, it takes close to seven new page likes to increase the number of engaged users by one. To get the growth quality index, you simply divide 1 by the slope. Theoretically (though quite improbably), the best result you could realize would be an index of 1—meaning every new additional added follower is a fully and actively engaged follower. But long term, you should probably be extremely happy to see an index of around .20.
JargonHopper: CRO (Conversion Rate Optimization)
CRO is a structured process through which an organization alters parts of its user interface (UI) to improve the ratio of visitors to its website who actually complete a desired transaction. That could mean registering for an account, downloading content, filling out a contact form, or completing a sale. Using a variety of known cognitive design triggers to improve the design, and evaluating each change through review of analytics, user feedback, and continuous A/B testing, marketers can begin to hone in on the most effective mix of design, UX/UI elements and language for getting users to take a desired set of measureable actions.
Further reading: Here is a nice beginner’s guide to CRO.