Community Measurement: Sales Info
December 08 2009 by Jason Peck ~ 0 CommentsThis is Part 6 of a 9-part series on what to measure and how to determine ROI of your community website.
Previously on this community measurement series, I discussed some things to analyze that will help you determine how influential your community website is and how trusted/valuable pople think it is.
The topics we previously covered (overall statistics, membership info, content and activity, etc) are great, but if you really want to prove to your boss or company that your community is generating results, you need to look at sales information (or donations or leads..whatever the end result is that you’re looking for). At the end of the day, it”s still (and always will be) about the money, the dough, the cheese.
One benefit to building your own community is that you own the data and have access to much more robust metrics than you can find on Facebook, Twitter or other social networking sites. I’m definitely not saying don’t spend time on those sites…but you might not want to make them your home base, if you really care about metrics and getting the full sales picture of your community members.
Measuring Community Sales Info
Please see below for a few things to measure and analyze that can help you determine what your members are spending and what they’re buying. It’s important to measure these things so you can compare these sales metrics to results you’ve gotten from other avenues and determine how the community (and the resources you’ve put into it) has increased the lifetime value of your customers. This also is a way to get to identify who your most valuable customers are so you can offer them special benefits and thank them for their support.
Total sales from community members
Number of orders placed
Average order size/amount
Average number of orders placed per person per month
Revenue per member
Revenue from community-specific campaigns and promotions
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You can also look at things like what items are most popular among community members, what items people are buying more frequently, etc. and adjust your content efforts accordingly. These are just a few sales-related metrics to keep track of. If you have others that you use or you think companies should use, please let me know by leaving a comment. Thanks for your time and attention!
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