If you want your business to be successful across the globe and want to make it more interactive, social media is your best bet. Social media is a self-explanatory term that explains that it is a formation of community and people. Measuring the success of social media is important to find out where your business stands and how it should be improved.
Every business today, strive to build and maintain their position on social media and for this purpose, marketers draft social media campaigns. Sometimes these campaigns are large enough to cover a wider target market and to perform analysis of these campaigns may be a difficult job. Here are 10 easy ways to measure the success of your social media campaigns.
1.) Set Your Objective:
The first and foremost way to measure your social media performance is to set your objective or goal that you want to achieve through social media campaign. Make sure that your goal is SMART (Specific, Measurable, Achievable, Realistic, Time bound). One example of social media campaign objective could be to increase the reach in the southern region.
2.) Determine Performance Criteria:
Keeping in mind the objective, you should select some criteria against which you can compare your data. You need to align your criteria with the objective. You should do some research about the industry practices which means you need to analyze what other organizations are doing to set criteria so you will stick to the standards. You can select criteria such as total number of followers, extent to which target market remember your message and etc.
3.) Social Media Tools:
There are few social media tools which can be helpful in reflecting your performance over the social media such as Facebook metrics that includes likes, comments, traffic and content sharing. Similarly tweets and followers are other tools to guide in this regard. Number of orders coming online either at your website or social media pages is also one of the tools for measuring success through social media.
4.) Number Of Customers:
This is an important element in assessing your performance that one particular social media campaign has increased the number of customers or not. If you find the answer of this question into yes, it means your campaign was successful. Sometimes it may be difficult to identify the increase in customers is due to social media campaign or other marketing practice. To avoid this scenario, you need to make sure that there is no other campaign running when you decide to analyze social media campaigns so that you can get pure results.
5.) Monitor Sales:
A sale is a single evaluator of any marketing effort and of course the ultimate goal of a marketing plan. You need to observe the amount of sales in order to assess social media performance. Is there is an increase in sales revenue; it means your campaign was successful. Again, this aspect is authentic only when there is no parallel campaign running on other marketing medium.
6.) ROI (Return on Investment):
ROI is another quantitative measurement tool that clearly shows that how much have earned with a specific amount of dollars. Ideally, it is good to have more ROI means you earn more you have invested. As this is the effective way to improve the bottom line of your financial statement. There is a formula to calculate your ROI with the help of which you can find the exact number showing your return.
7.) Customer Engagement:
As there are numerous brands working in the same industry, giving customers more choice, it has become difficult to keep your target audience engage with you. If a social media campaign is running and had focused on customer engagement it would be good for your brand. It looks great when your customer like, suggests, comment or share your stuff on their personal pages. To achieve this you should draft the campaign in such a way that elicit quick response from your customer and move them to interact with you. Loyalty programs that major brands of today are offering at their website or social media platforms, these programs are one of the best ways to keep your customer engage with your business.
8.) Words Of Mouth:
Buzz marketing is another way to judge your performance. Find out what your target audience is saying about you, how they perceive you and your product. If they are satisfied, they will definitely spread good words about you and recommend your brand to others. Those customers, who talk positive about you, tend to be loyal of your brand.
Your social media campaign will be of no use if it does not improve your search engine ranking. If your campaign is liked by your target audience they will search for it and share it that eventually increases your ranking. For example, if you have launched a video marketing campaign, it can generate traffic to your site.
10.) Brand Image:
The other important way to track your social media performance is how strong brand image it has built. The focus of social media campaign should also include building strong online brand image to maintain your credibility. There are certain brands that successfully run social media campaigns to build their brand image such as social media campaigns of Coca cola or video marketing campaign of Volkswagen.
All above mentioned ways are only useful when you have worked rigorously on social media strategy. As the planning is the foundation of every strategy execution so you need to be vigilant in writing down each element. These were only few techniques that I have described; there will be more that you have applied in your business. If you have something more important that I have missed out, share with us…