If you want to keep track of how well you’re doing your business with social media, the easiest way to measure your efforts is by watching the audience growth of your social media pages. But that’s not always a good indicator. What’s more? If you want to fine-tune your social media marketing, read this minimal article!
Best do-it-yourself practices for measuring social media success
- Online traffic
For measuring your social media marketing success, this is the simplest metric. You can use free tools available on more social media sites and blogging platforms to get traffic data on your social media. You can also use the free Google Analytics (def.) tool to get detailed info on traffic to your social media platforms. You can get such info:
- Traffic volume metrics, including the number of visits, page views, and fans
- Engagement metrics, including the number of comments, liked posts, or your page’s total number of fans
- Competitive position
- How many times visitors stay on your page
- Number of content downloads
- Set benchmarks
Keep in mind that to document all relevant metrics of your current activity, before launching a new social media campaign, including:
- Followers,
- Friends,
- Connections,
- Subscribers,
- Website traffic, and
- Lead conversions
Before starting a new campaign, documenting all this information can cause an increase in the success of your program!
- Return on investment
You can try to get a sign of your return in a couple of ways:
- You can create an exclusive Internet landing page or promotional code that is only limited to the followers of your social media pages, then you can follow just those sales and see if the income from the sales exceeds the social media spending. The only drawback is you can’t find other purchases that your social media fans may have made.
- Or, you can create a timeline where you plot your social media activity (new or relaunched social pages, special promotions, ad campaigns, etc.) and sales results. Look for possible correlations, but correlation doesn’t necessarily mean causality.
- Customer service
It is essential to calculate how much you’re spending on customer service. Then, you can get an idea about your daily cost per issue resolved.
- CTR or Click-through Rate
Click Through Rate or CTR is, if you add a link to your content, how often people click a link in one of your posts to access additional content. It can be anything from an article, your online store, or anything. CTR shows how many people saw your social media content and are interested to know more info. This is an essential metric of how well different types of content promote your brand on social media.
- Conversion rate
Briefly, the conversion rate shows the value of your social media campaigns. It measures how often your social content starts the process of a conversion event like a subscription, download, or sale. This is a famous metric that is used by many marketers.
- Audience growth rate
This metric measures, within a certain amount of time, how many new followers are added to your social media account. It measures your new followers as a percentage of your total audience.
Always listen, measure, and learn. Then start with your master plan on the base of what’s working best!
