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3 Most Effective Ways To Measure The Success Of Your Social Media
18 Mar 2019
Want to know if your social media campaigns are worth your time and effort? Find out below our 3 most effective ways to measure the success of your social media!
Firstly, it is important that you set goals for your social media whether that is for a campaign or just using the platforms on a weekly basis.
You can base your social media goals around these headings:
- Improve brand awareness
- Increase engagement
- Customer service and satisfaction
- Lead generation
Here are the 3 most effective ways to measure the success of your social media.
Brand Awareness KPIs
When looking to improve your brand awareness it is important to have a campaign in place to do so, especially if you are a new business. Using the right social media channels should reach the customers you are looking for and get your name out there. Some potential KPIs you can measure your results are followers, shares, mentions, likes, reviews and ratings. If you track your campaign from the start you will be able to analyse how many new people have followed your social channels and you then have the opportunity to engage with them. You can also see how many users shared your social media content, which again gets your brand to a wider audience. Did you know that 21% of consumers are more likely to buy from brands that they can reach on social media (Sprout Social, 2019).
Increase Engagement KPIs
Once you have a good social media strategy in place you then want to be increasing your engagement rate. This could include creating more interactive content that gets your consumers involved or creating content that could lead to it going viral. But you’ll want to know how to measure the rate of engagement. Some potential KPIs you can measure are likes, comments, bounce rate, replies and referrals. If you have put out a social media campaign that requires a response, you can see how many comments and replies you have received. You can then take the time to interact with those comments and track how many people then go on and like your other social media posts. If your bounce rate has decreased then this highlights your content was relevant and useful to the consumer. It is good to do a few social media posts ever 2 weeks where you engage with your users to ensure your engagement rate stays high. Did you know that 64% of marketers said that increasing audience engagement was crucial for their social media marketing strategy (invespcro.com, 2019).
After scheduling a few posts on your social media you will want to see if your business has generated any sales or conversions. You can measure the success of your social media by setting up conversion tracking that tracks when a consumer purchases through your website from the social media platforms. It is also good to ask your customers where they found your business, which can then help you measure whether your social media presence has led to a conversion. Did you know that 44% of local businesses said they depend on social media to generate brand awareness, and 41 percent depend on it to drive revenue (smallbiztrends.com, 2016)
Make sure you're setting appropriate goals for your social media and remember there is always a way to track and measure your success!