If you’re using social media, you need to be measuring it. However, don’t measure just for the sake of having metrics. Rather, measure your social media marketing activities so that you are able to learn what’s successful, what isn’t as well as how you are able improve.
As a social media professional, metrics are your chance to show the value of your work as well as the impact of the decisions which you’ve made. If your boss asks you to talk about data, take the opportunity to be a pro and then go beyond the surface-level, “vanity” metrics — the likes and shares as well as retweets. Instead, focus on the data which matters — the numbers which prove your effort has had a positive, bottom-line effect on the business.
The correct data will assure executives which their investment in social is paying off. In addition, It’ll help you continue to make smarter, more data-driven decisions going forward.
The Importance Of Social Media Marketing ROI
Social media marketing ROI is one of the most essential key performance indicators (KPIs) in marketing. It is frequently expressed as a percentage. KPIs give you the opportunity to compare and contrast different marketing channels in order to determine the efficacy and efficiency of each channel.
As opposed to measurements such as likes or shares, which are particular to social media marketing, you are able to easily compare the ROI of all your social networks to that of your search engine advertising or – alternatively – email campaigns. This is as analysing your ROI across various channels gives you the opportunity to rationalise the influence of all your marketing efforts with one single, clear and concise measurement. This analysis helps you identify immediately which social networks are most profitable as well as cost-effective for your business.
What Are Social Media Marketing Metrics And Why Should You Track Them?
Your social media goals are what define your metrics. For every single goal, you need a related metric, which will assist with determining if your social media marketing strategy is hitting the mark or not.
For instance, your business goal could be to increase conversions. Thus, your social media goal becomes growing conversions from those who visit your site via posts which are part of your strategy. Now that you have a goal fixed in mind, you are able to clearly identify which social media metrics to assess, as well as a time frame in which to measure them.
For example, growing conversions from social by 25% in a three-month period. In order meet this goal, you elect to run a campaign which will include ads, product tags and influencers. To measure this, you make the determination that you’ll look at the social traffic and conversion rate metric from those types of posts in your site analytics.
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