How Do I Measure the Effect of Social Media Marketing On My Business?

The effect of social media marketing needs to be measured to see if the desired results are being achieved. There are a many ways for a business to measure the return of investment for any social media marketing campaign. One important aspect to consider is the objectives and goals that will be measured.

Effective social media management will need to include the goals or key performance indicators to measure. These will be the various metrics that need to be measured. Popular metrics that are measured for social media marketing campaigns will include reach, engagement, competitive data, sentiment, and sales conversions.

Reach a statistic for how a brand is being seen by an audience. Measurements can be obtained from the number of subscribers for a blog, the number of followers on Twitter, and the total number of Likes for a Facebook page. These measurements are crucial to determine the overall reach of a brand or business on various social media platforms.

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The measure of comments on a Facebook post and a blog post is a metric for engagement. The number or retweets on Twitter, clicks, the views for online videos, and results of a call to action. These are how a prospect or sales lead engages with a business on social media.

Brand mentions of a competitor on various social media channels or other places on the web is a standard form of competitive data. This also includes the voice being shared by a competitor across the web. If a business needs to improve ROI, then a social media firm can be hired to review competitive data.

Sentiment is a metric that is measured by calculating all types of mentions on social media channels.Social Marketing A measure of sentiment will include the number of positive and negative comments for a blog post or a Facebook post. A positive and negative comment will be helpful to help improve ROI.

One of the most important metrics a business needs to measure for a social media marketing campaign is sales conversions. This is the number of customers that have been converted from a current prospect to a new paying customer. Referral traffic from social media can be measured or the sales that result from social media mentions.

The cost for the monitoring of a social media marketing campaign is based on the amount of data to be collected by social media companies. Social media pricing if often a reflection on the measuring that is needed to monitor and track key performance metrics. Many social media firms have the resources that are needed to obtain the data that is necessary to analyze social media marketing efforts.

One of the best ways to monitor a brand across the Internet is to use Google Alerts. This service can be a great way to track target keywords for SEO. Another tool from Google that can be used by a business to track the results of a social media campaign is Google Analytics. However, the specialized tools that are used by firms that provide social media management are better equipped to provide needed results.

Key metrics are the most important to measure. Businesses that collect a significant amount of data  are often at a disadvantage as added time is needed to disseminate valuable information. Social media marketing is typically time sensitive based on current trends and customer participation. This means that data will need to be as close to real-time as possible to provide the best results.

Many businesses do not have the resources or time to perform needed analysis. This is why selecting good tools or hiring a social media company to collect data and generate reports is money well spent.