Regardless of the social media network you have chosen to use to market your business, one thing is certain. Without a way to accurately track and follow key success indicators, your efforts are in vain. Below are four social media metrics that every business must track and measure.
1. Leads and Sales
While social media might feel like an inexpensive way to market your business online, never miss an opportunity to make the sale.
Social media, when used correctly, is a key component to driving sales and increasing revenue.
Through something as simple as an excel spreadsheet, you can track how many leads you’re receiving through each social channel, the cost for that lead based on current campaign, and your conversion rate.
Each social channel will support your business in a unique way. Know which one is sending high quality leads that convert into sales.
2. Engagement and Interaction
As you begin to market your business online, identifying the content most important to your audience is crucial. This can be determined by looking at the number of plus ones, likes, comments, tweets, and shares as well as the level of conversation around a particular product or service.
Putting a plan in place that allows you to track, measure and analyze your results will keep you focused on your end goal.
A throw it at the wall and hope it sticks strategy will never succeed. To find true social media success, you must be able to monitor engagement and adjust your content and your message accordingly.
3. Organic Reach
Do you know who your target audience is and whether your content is resonating? If not, you need to.
Knowing whom your customer is, how to get in front of them, and what content they’re craving will improve your ability to reach an even larger audience.
Placing targeted content in the hands of the right people means they’ll plus one, like, comment and share it with their network giving you access to a group of people you might not have been in front of otherwise.
4. Website Traffic
It’s important for you as a marketer to determine whether or not your campaign/brand is doing well in terms of driving increased and sustainable traffic to your website.
The best way to track and measure website traffic is through Google Analytics. Pay close attention to the referral sources, keywords, and searches happening around your name or business.
Consistently review which social media platforms provide the most interaction such as plus ones, likes, comments or shares.
You will also get to know the bounce rate and time spent on each page allowing you to further adjust your strategies as well as promotion.
What’s your social media strategy for tracking and measuring your efforts? I’d love to hear it in the comments below!