We developed the ‘Monetization Pursuance Index’ (MPI) a Key Performance Indicator index for Social Media to better understand social media engagement.
This specific KPI allows commercial brands to determine if their social media engagement has achieved a level, in par with a level of Social Trust with the customer, and an environment for a monetary transaction exists.
The formula to calculate the Monetization Pursuance Index (MPI) is as follows:
Monetization Pursuance Index (MPI) = # of positive non branded posts/total net *100
There exists a greater likelihood for regulated industries to score lower. This should be considered quite normal. This is very much in line with the Net Promoter Score (NPS) for regulated industries.
The % is likely to be greater for non-regulated brands as social engagement and trust is developed early.
The ‘MPI’ index serves as a watchtower to alert the brand that the social monetization goal post is in view.
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