Getting to Grips with Social Media Marketing Measurement

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Posted on: in Social Media Marketing The Formula Digital Marketing

According to research by technology research company, World Wide Worx, South African business is slowly getting into the Social Media Marketing swing. Many are still not entirely sure what to do with their social media marketing efforts, while others are struggling to come to terms with whether social media marketing is in fact working for them or not.
 

Social Media Marketing Measurement is not Straightforward

Whereas online advertising typically enables the measurement of campaign success through the assessment of click through rates (CTR) or Cost per Click and Pay per Click advert statistics, measuring your activity and audience response to Social Media, is not as cut and dried. Although it is possible to create and analyse statistics, Social Media is ultimately aimed and building relationships, so it doesn’t really pay to try and equate ROI in the same way as you would other online marketing tools.
 

Give it time and be prepared to change

Successful Social Media Marketing is akin to the unfolding of a journey. Over the course of a few weeks and months, you will be able to determine what works and what doesn’t, as well as see how Social Media has benefited your business. One certainty does exist in that you must be prepared to embrace change as Social Media is constantly evolving.
 
 

What Matters Most to Your Business?

Before you start scrutinizing statistics and trying to understand how you can determine ROI from them, rather isolate first what you want your Social Media marketing to do for you. Consider moving beyond basic marketing and engagement metrics and start thinking about how Social Media can help your business operationally. In this way you will be enhancing true return on your Social Media Investment. Here are some possible reasons why you should use Social Media:

  • Prospect Engagement – if your customers see regular informative posts and updates from you, they’ll most like remember you when looking for the services your business offers.
  • Brand Reputation – if you maintain regular content updates across all your online engagement platforms (website, blog, social media) using professionally written and designed marketing material, you are more likely to be conceived of as a professional leader in your industry.
  • Search Engine Optimization – if you are looking to build back-links to your website, regular posts on social media that include URL’s to your website or blog are a great way to boost SEO.
  • Customer Service – perhaps you are looking for a convenient way to let customers contact you? Queries can be fielded and resolved using social media, while you can also answer frequently asked questions through your posts.
  • Lead Generation – if you are wanting to build new leads for your business, social media campaigns can help to increase the number of customers who contact your business.
  • Competitive Edge – of course you do things differently and in a preferable manner to your competitors! So using social media you can reflect this.

 

How to Measure Social Media ROI

Social Media is designed for the building of relationships and the creating of conversations. This is what it does well. Neither in life nor in marketing, can you ever really measure a relationship or a conversation. What Social Media will do, is help your potential customer become familiar with your company and people and over time, this may prompt them to choose your company over another one. In any conversation however, you can still judge how interested the other party may be in what you are saying. In Social Media, this interest is expressed as the following:-

Post Interest – How many people ‘like’ and / or ‘share’ your posts, as well as those who comment on your posts;
Page Interest – How many people have chosen to ‘like’ or  ‘unlike’ your page;
Engagement - How many people have asked you questions via your Social Media platforms;
Click Throughs – How many people have reached your website or blog from Social Media pages.

Review your statistics on a weekly and monthly basis. See what posts did and did not work and be prepared to be adventurous and creative in how you express yourself. Be interesting just the way you would in any conversation and then watch as your Social Media engagement levels soar. If you need assistance in developing and managing Social Media for your company, contact Garth Dahl or Shiraz Khatib on 021 556 5661 or email info@theformula.co.za





 

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