Published on March 5, 2014
Measuring Your Business’s Social Media Impact Social media campaigns are an important part of a business marketing strategy. How are you measuring your approach?
Social Media Is a Different Form of Media Traditional KPIs (Key Performance Indicators) don’t work well with social media marketing, and it requires a new approach. While it is easy to measure the amount of traffic you are generating from social media, what you cannot measure is the brand awareness you may also be building up. 2
What Can You Measure? – Engagement Community building is essentially the reason social media marketing exists, and it is easier to measure. By measuring engagement in your community, you can learn a lot about your customer relationships, and the value of your social media campaign. 3
What Can You Measure? – Social Metrics You can measure likes, +1s, tweets, repins, etc. Track the number of click-throughs, shares, and the comments that are left on your updates (excluding spam). These are indicators that your efforts are succeeding, and are probably leading to more traffic and sales. 4
What about ROI? ROI (Return On Investment) is hard to measure through social media. It may be more beneficial to adjust your definition of a successful social media campaign so that it isn't purely focused on direct revenue generated. Define success differently, such as social engagements, shares and positive comments. 5
Where to Get Valuable Data? Google Analytics – explore your website visitor data. Individual Platforms: IE (Twitter, Facebook, Pinterest, etc.,) – individual platforms offer more analytical data on your social media stats. Social media presents a lot of opportunities for small businesses, but not without an organized plan. Set your KPIs and make sure that you carefully track your progress to ensure that all of your efforts are creating some kind of value for the company. 6
Get Financing to Help Your Business Grow RapidAdvance provides easy funding options for small business owners that you can use to help get your marketing campaign running full-steam ahead. Financing is available from $5,000 - $500,000. Get a free quote today! 7
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