Even though social media has been around for a quite a while and is still trending, many digital marketers are struggling with how to measure the ROI of their social media campaign. This question gets asked a lot, even though many large and small organizations have already integrated this communication medium into their traditional marketing efforts.
Naturally, it’s common sense that businesses want to see if their social media campaign is helping them reach their goals. Social media is all about the community which you do your business with, and actually has little to do with “media”. So in truth, if you are measuring your social media campaign, it must focus on and reveal insight about the members of your community and how engagement with them impacts your business. Social media is a medium that works because it allows people to communicate with each other and it’s not about disruptive communication where you don’t have a say.
With social media it is key to continuously evaluate and monitor what people are talking about that is relevant to your company and respond to them appropriately. There are hundreds of tools available that you can use to measure basically everything regarding your social media campaign, but in reality it’s a waste of resources, time, and money if you fail to monitor only selective metrics that matter to you.
There are many metrics you can use to measure your campaign and many of the tools that measure this will have their own metrics, but which actually matters? Find below a couple of metrics that I use as a baseline for all my social media campaigns.
Social media measurement metrics
Engagement: How many comments or replies are generated by the updates and posts that you make? This is a key metric that will reveal the level of interaction that will show you what content works and what doesn’t. Tracking and analysing the responses you receive from your posts, tweets, and status updates will give you a view of which topics are the most effective in engaging with your target market/community. By measuring this, you can adjust your content plan to get the best engagement.
Number of shares: How many shares do your updates and post receive? This metric takes advantage of the fact that each update and post that you make to your community is the start of a conversation or share on another network. It can gain momentum if your content gets shared outside of your direct network.
Reach: What is the size of your network and how many people are you reaching with your updates? Your target audience consists of the people who complete an action or interact directly with your brand. If you combine reach with engagement, it can allow you to prepare magnetic content that has the ability to go viral. If you have a bigger reach, you have the potential that your updates can turn into a snowball and increase your exposure.
Sentiment analysis: What are the emotions expressed by your network in regards to your updates and posts? This metric isn’t always easy to measure and can be hidden by your social media efforts, but there are many tools (like socialmention.com) where you can view how people feel about your business and brand.
It isn’t always easy to measure the success of your social media marketing strategy, but using these metrics as a baseline in your reporting will give you a good indication of what is working and what is not.