How to Measure Your Social Media Marketing
Welcome to my blog! If you would like to keep updated on new posts, please subscribe.
And consider following me on Facebook and Twitter. Thanks for visiting!
While a lot of people say social media marketing is free, it actually has expenses like any other form of marketing. Even though many parts of social media marketing don’t cost an initial fee, it does cost time. And time costs money – whether you’re doing it yourself or you’re outsourcing it to someone else.
To determine your real business return on investment, you need to understand what your goals are. It’s important to be very specific about what you want to accomplish through your social media marketing. Take note of these four social media measurements:
Ensure that your goals match the metrics you want to measure – Regardless of your goal, it’s important that you have a corresponding metric that you can measure. For instance, if you want to measure whether or not you have properly generated leads from a particular campaign, then you need to know which numbers to analyze, such as where the leads came from, which efforts produced the leads, and which did not.
Review your numbers prior to taking any new action – In order to know whether a particular campaign worked, you need to check your metrics prior to the action. So if you want to get more newsletter subscribers and you plan to create a campaign to do that, look at how many subscribers you have right now so you know where you started. Find out how many new subscribers on average you receive each day, week, or month in the 90 days prior to the planned campaign. This way you can tell whether or not your campaign worked to increase your subscriber numbers.
Know exactly why your revenue went up or down – One way that revenues can appear to go up is with cost-cutting measures. But it’s just an appearance that revenue went up. The truth is, you cut a particular cost. Pay attention to activities that add to your monthly bills and subtract them from your monthly bills. In this way, you will know whether you’ve really increased actual revenue or not. Increasing revenues due to cost cutting is a good thing, but you’ll know it’s not due to your social media marketing efforts.
Check typical metrics on a regular basis – The typical metrics you should always check are likes, shares, comments, click-through rates, and conversions. These are important indicators of the marketing you need to improve. If some of these metrics are doing well and others are stuck, then it can give you ideas on the types of social marketing campaigns you might want to plan in the future.
Understanding your real return on investment lies in understanding all the factors that go into each individual campaign. How much money does it cost, how much time and effort will it take, and is it paying off? The only way to answer these questions is to keep track of these factors.
Previous Post
Next Post