Online customer community platforms can do wonders to get your customers participating in and with conversations surrounding your industry, business, and offerings. However, that isn't always the reason that companies decide to invest in a community platform. Customer engagement isn't your end game!
Businesses only choose to spend time and money on planning, launching, and growing their customer community when they believe that community is a valuable investment in their future, and like all investments, you have to be able to measure and track them, and there has to be a payoff.
There's just one slight hiccup, there are many different types of online communities. Do you want to improve customer retention, or do you really want to boost brand awareness? Do you have another objective in mind, or several? Communities are seen as must-have platforms for modern businesses largely because they can make a substantial impact on many different key performance indicators (KPIs). The downside is that their ability to impact all of those areas can make measuring their ROI difficult.
In order to successfully measure the impact your customer community is having, or will have, on your business there are a few tricks you'll need to know:
- How to prioritize your business objectives
- How to breakdown your goals into trackable metrics
- Where to find the metrics to track