Why You Need To Track And Measure Your Social Media

Our society has never been more connected, and it’s mostly down to social media. Social media has a huge amount of power and influence over our daily lives, from who we talk to, to what we buy. For businesses, it’s become an invaluable tool, one that enables them to have intimate, one on one conversations with customers and prospects previously miles out of reach. But all of that means nothing if the business doesn’t understand what good it’s doing. Like everything you do in business, social media works best when you plan your strategy, track its progress and measure the results. But what are you supposed to be looking for when you track and measure your social media campaigns?

Action

For the past year, action has been the top method for measuring success on social media. But for a while, that just stayed and watching the number of likes and follows tick up. But now, there are a whole host of tools out there that can help you not only measure the actions taken by your followers and customers, but your own as well. You see, social media is a 2-way street, and you need to be contributing something valuable in order to see results. Using tools like SpoutSocial, SimplyMeasured and kissmetrics, you can measure not only what your customers are doing, but how they react to your actions on social media in granular detail. This level of measurement means you can see which approach works well for you, what types of post are most popular and what really doesn’t hit right with your audience, so that you can create perfect campaigns in the future.

 

Revenue

Let’s be honest, that’s the ultimate goal behind any business social media, right? So here’s a fun fact for you – businesses that use social increase their revenue growth by 60%, as opposed to the 8% growth achieved by business who didn’t. So while engagement and awareness are fantastic goals, don’t be fooled into thinking of them as your end results. Measuring your social media results may, in time, help you begin to see some correlation between your social efforts and increases in revenue, especially as tools and measurement strategies improve.

 

Short And Long Term Feedback

In general, there are 2 types of tracking and measuring for social media – ongoing analytics and campaign-focussed analytics. Campaign focussed analytics involves monitoring a particular campaign in detail, from start to finish. This means you have a defined period of time to measure within, and the resulting data will help you understand if you hit your targets, and even where you didn’t get the results you wanted. Ongoing analytics on the other hand, is the continuous monitoring of social media activity. This is a staple way to understand the overall online view of your brand and company, what is resonating with your audience and gain a general idea of your success. By combining these, you can build a very clear picture of the performance of your social media, and analyse it along with the performance of every other area in your business.

So, while social media is all about learning, listening to your customers and building a responsive marketing strategy in real time, you simply can’t ignore the analytics. If you want social media to play an active part in the marketing and growth of your business, the measuring your results must be at the heart of your strategy. If you want to know more about measuring your social media strategy (and how on earth you do it), just get in touch with one of the team at Pickle Towers today.



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