Employee advocacy can be a powerful force for driving business success. In our experience, a strategic employee advocacy program can boost internal morale and significantly impact external metrics, leading to enhanced brand visibility and revenue growth. The issue is that it’s hard to be successful unless you can track key performance indicators (KPIs) and make necessary changes as you go to get the most out of your Employee Advocacy program. In this blog, we'll delve into the intricacies of measuring the return on investment (ROI) of your employee advocacy program and take a look at both internal and external metrics to watch to measure success.
Internal Metrics: Fostering a Positive Workplace Culture
We recognize that a thriving employee advocacy program starts with engaged team members. Tracking metrics such as content sharing frequency, comments, and likes can provide valuable insights into the level of engagement within your organization. Many scheduling platforms that support employee advocacy content creation and scheduling access for larger teams offer tools to measure these interactions.
Job Satisfaction and Recruitment:
Employee advocacy isn't just about external brand promotion; it's a catalyst for fostering job satisfaction and attracting top talent. We've found that platforms like LinkedIn provide valuable data on employee referral advocacy. You can gauge the impact on your recruitment efforts by analyzing the number of referrals and their subsequent onboarding success.
Speaking of LinkedIn, the Social Selling Index (SSI) feature is a great way to track success and motivate employees to participate in healthy competition. The SSI is a score given to LinkedIn users based on their professional brand. As employees connect with others in their industry, engage with content, improve and grow their profile, and strengthen relationships on the platform, their score improves. By monitoring these scores, you could have a fun internal contest while also getting a look at who on your team is taking the initiative and is the best advocate.
External Metrics: Driving Revenue and Client Acquisition
Social Media Reach:
Your employees are your brand ambassadors on social media. Platforms like Oktopost provide comprehensive analytics on social media reach, helping you understand the organic impact of your employee advocacy program. Tracking metrics like impressions, shares, and follower growth can showcase the program's external reach and take a closer look at which employees are most engaged in the program and helping to grow the company's reach most effectively.
Engaging your audience is key to the success of your employee advocacy program. Metrics such as likes, shares, and comments on employee posts offer insights into the level of interaction and interest generated by your content. As your program scales, leveraging analytics available in advocacy platforms becomes crucial for a more efficient and insightful tracking process. Regularly monitoring these metrics allows you to observe improvements in content engagement over time and strategically plan to create content that will perform better with your employees and their followers.
Lead Generation and Revenue Growth:
We understand the bottom line – revenue. To measure the ROI of your employee advocacy program's ROI, tracking lead generation, clicks, views, and conversion rates is crucial. Tools like PostBeyond and Google Analytics enable you to attribute leads and revenue directly to employee advocacy efforts, providing a clear picture of the program's contribution to business growth. Enhance your tracking capabilities by utilizing trackable URLs, enabling you to monitor clicks and web traffic stemming from employee-shared content. Scheduling software with robust backend metrics allows for a comprehensive analysis of the journey from click to conversion, further refining your understanding of the program's impact.
Beyond tracking engagement, it's essential to identify which employees actively contribute to your advocacy program. Participation metrics focus on those who consume and share content on their personal platforms. Platforms like Oktopost and PostBeyond offer insights into individual employee participation, allowing you to recognize and reward top advocates, further enhancing the effectiveness of your program.
It’s crucial to recognize the importance of a well-rounded approach to measuring the ROI of your employee advocacy program. By focusing on internal metrics, such as employee engagement and job satisfaction, you set the foundation for a positive workplace culture. Simultaneously, external metrics like social media reach, engagement, and participation demonstrate the tangible impact on brand visibility and business growth. Remember, an effective employee advocacy program is a powerful tool that enhances your company's reputation and contributes significantly to your bottom line.
If you’re interested in starting an employee advocacy program or want a content specialist to help you scale an employee advocacy strategy, get in touch with our team today.