Defining the processes to measure social media marketing will help you make decisions about your campaigns, understand if your goals are being met, and know if all this media activism is working. It will also help you justify more budget by having the indicators to support it.
We share 10 practices that will help you measure social media marketing, compare it against your goals and know if it works and if it works.
Choose your own goal
As the saying goes: “if you don’t know where you are going, you will never know if you’ve arrived.” The objectives of social media marketing must be aligned with the objectives of the company.
For example, accompany me through this process:
- Sales needs to achieve $ 1 million in revenue per month
- We know that the average ticket per customer per month is $ 50 thousand
- So we need 20 specific clients per month.
- We know that for a customer to buy from us, we need to serve 5 times as many prospects.
- So to sell to 20 clients we need 100 prospects with first and last names.
- We know that the conversion rate of Our campaigns on social networks is 0.7%
- So to have 100 prospects, I need to reach 14,286 potential social media stakeholders.
- We also know that we have a 1% engagement rate on social media, so I need to impact 1,428,571 people from my well-targeted audience.
Clever! Now, put together a campaign on social networks that can impact 1,428,571 people from your profiled audience on social networks and you will have aligned the objective of social networks with the objective of sales.
Measure the valuable
As an entrepreneur, you must align the objectives of your business with the metrics of your digital marketing campaigns.
For network marketing, the fact that you can measure something does not mean that it is valuable, you just have to follow and measure what is really important for your brand and aligned with the objectives of your company. If you are an entrepreneur, remember that there are metrics that don’t tell you anything. The important thing is: market share, prospects, clients, visits, contacts, forms, sales.
One of the challenges when measuring social networks is that data comes from everywhere. Start right from the beginning and create a dashboard, if you don’t know how to do it, hire someone to do it for you. If you are going to measure, measure well. Compile all the data in a dashboard to facilitate the visualization and to be able to make better decisions. Having everything in one place ensures that no data will be lost and everything can be correlated. Do not make graphs by hand and avoid capturing data by hand as each manual intervention is a source of possible error.
2. Beyond vanity metrics
It is a food for the ego to measure your growing number of fans, followers and subscribers. Views, likes, shares, and tweets are clear indications that your audience likes you. But to measure ROI on social mediaAsk yourself: Do Facebook Likes generate complete web forms? Do followers on Instagram become prospects? Is Twitter useful to me? Follow your performance analytics closely. If you are a government official or politician, please forget about the likes or get overwhelmed because your opponent has more than you, they are available in Pakistan for a few dollars! When measuring social media marketing, you must have the responsibility to measure what is correct, what matters, what is associated with results, not what fuels vanity.
3. If you want to measure ROI, you need transparency
In order to measure the return on investment of a social media campaign, you must be able to make your sales figures transparent and, desirably, your contribution figures, in this way you can contrast what you spent against what you entered. Many entrepreneurs do not like to be transparent about their figures and this makes the ROI formula incalculable.
If you are open to that information being transparent, then now, you have to implement all the controls to be able to track any visitor from social networks that generates an interaction and two and three interactions until they become a prospect and a customer, and you have to do this for each social network. In the end you should always know which social network gives you the mere return.
4. Stay flexible and versatile
If you measure the correct data, you will have to modify your campaigns, because each metric will give you information to modify what is being done. For this reason, you must be very flexible. Although a design and a tone and a message work very well, nothing tells you that another could not be better and this implies allowing you to constantly try new things. Yes, do some planning, but don’t close yourself to creativity and the flexibility to try new things.
Social media is an excellent and measurable tool for growing your email list. Use a simple email signup form on your Facebook page and make sure your site and landing pages feed data to your CRM so that when you measure social media marketing, you do so through the full cycle. Email is a great opportunity to help attract social followers and new prospects. The ROI of the email, when the piece is sent to people really linked to your company, is still positive.
Let’s remember the importance of responding to comments and service issues in a timely manner on social media . There is NOTHING more frustrating for a customer than their attempts to communicate with a brand through social media, are ignored by the brand. If the networks are to have a conversation with your audience and you are not available to have that conversation, then do not have social networks.
This is a very important area to measure . For most brands, solving customer problems through social media is much cheaper than the phone or email. Studies also show that customer retention increases when customers receive quick responses on social media.
7. Discover your favorite products and services
One strategy that you should not forget when measuring social media marketing is to do social listening. And, while using Social Listening , take the opportunity to discover certain features or products that customers can’t stop talking about, for better or for worse. Don’t just listen. Track and measure these conversations over time, measure volume, sentiment, and identify top influencers. This real-time discovery will help you change the way you sell.
8. Measure interactions
Remember that interaction with your audience is the most valuable element of social networks, so measure this interaction. That people see your post, comment on it and recommend it is of great value. Try to measure all interactions. In the case of video, it measures how many people it reaches, how many people see it and then see until which minute or second of the video they arrived so that you can correct the next ones and make them watch more time or a greater percentage of your video.
9. Measure the traffic they generate to your website or your landing page
The only web property that is really yours is your website and that is why it is recommended that your website be at the center of your digital marketing strategy . So you must ensure that your audience’s interactions on social networks eventually lead them to your website. And this should be integrated when measuring social media marketing. Set your goals well in the Google Analytics of your website and measure the traffic that comes from each network.
10. All your resources to measure are important
Use all your available tools to calculate data. If you don’t have a budget or don’t know the technology, you can use spreadsheets. But the best thing will always be to accompany you from an expert agency in metrics. If you are already going to invest time in planning, content and, probably, an advertising budget, your metric better be correct. It is your only way to know if you are doing the right thing for your brand and it can have a great impact on the future management of your account.
In summary
In this short video we summarize the 10 practices to measure social media marketing
The magic of digital marketing is in the metrics
Don’t forget that measuring social media marketing is the key to having a continuous improvement process in your digital marketing efforts. Don’t make the mistake of doing and doing without ever measuring.
