As the owner of a business, it’s important that you launch a strong social media marketing strategy. However, after you launch the strategy, how are you going to know if your plan is achieving the goals you’ve set out to achieve?
There’s no need to worry; we’ve created a list of metrics that will help you determine your social media marketing ROI. The last thing you want to do is start off strong and then fall off in the future.
Not only would this affect brand engagement, but it would also cost you, social media followers. Stop what you’re doing and continue reading now.
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Awareness and Reach
Awareness isn’t typically a metric that you think about, but it can provide you tremendous insight into several social media factors. The first thing awareness can tell you is how many people your social media posts are reaching.
Reach is the number of people who view and interact with your social media posts. When you’re looking at reach, consider things like the amount of organic vs. paid numbers.
It lets you know in which area you’re seeing the most success. Awareness will also help you pinpoint where you’re getting the most interaction from, in terms of geographic location and other defining factors of your target audience.
While we’re on the topic of awareness, don’t forget to keep an eye on your follower growth. If you want to improve your social media marketing campaigns, one way to determine if past campaigns have worked is to keep an eye on your followers.
When you’re doing things the right way, your follower count will increase and if you’re not, you’ll notice a decrease in followers.
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Engagement Per Follower
Consumers are 71% more likely to refer brands to others when they’ve created a social media account for them to engage with. One of the most important metrics to measure is user engagement.
Depending on the social media platform you’re using it’ll give you the ability to track the engagement you get from each follower. The way to calculate the amount of engagement you receive from each user is by dividing your total number of engagements.
This includes everything like:
- Shares
- Saves
- Likes
- Comments
Take all these numbers and divide them by the total count of your followers. Understanding how much engagement you get from each follower will help you to shape future posts.
Audience engagement is another factor to consider when it comes to engagement. Depending on the various platforms you use, the engagement metrics will be depicted in different ways.
For example, on YouTube, you can access follower engagement, and break it down to the exact time users are engaging with your posts. If you’re looking to increase the likes you get on each post to increase engagement, this company can help you accomplish this.
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Net Promoter Score
When you promote your brand’s products and services not only do you want to retain your current customer, but you also want to compel them to recommend your brand to others. The best way to measure this is by tracking your net promoter score.
Tracking your NPS is important because it can give you key insight into the overall customer experience. If your net promoter score is low, it’s a key indicator that there are some issues that need to be corrected moving forward.
Without this metric, it could be easy to overlook these issues. When you don’t know if there is an issue, you’re not able to address the problems that consumers are asking you to fix.
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Website Traffic
One of the main purposes for companies when using social media is to increase the amount of traffic their company website receives. All posts should include contact information or links followers can click that lead them to your website.
If you’re trying to determine how much of your website traffic comes from social media, you can use Google Analytics to track this. When you access the acquisition page on the platform and click on the tab labeled social, it will detail how many people that go to your website are from social media.
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Reviews
When customers have something to say about the products and services offered by your business, they’re going to say it loud enough for everyone to hear. Therefore, you need to track all reviews or comments left by customers good and bad.
The first reason to track reviews is so you’re able to gain deeper insight into the positives and negatives of your products. It also gives you the chance to respond to feedback and help customers resolve issues they might be having.
Responding to customer feedback is one way to engage your social media followers and let them know you care about them and their opinions. Forgetting to respond to customer feedback gives the appearance that you don’t care and will reduce the chances of them referring your brand to others.
Social Media Marketing ROI & Your Brand
Measuring social media marketing ROI is important for your brand because how else will you know if you’re taking the right steps in marketing your products? Measuring ROI can give you the insight you need to understand your social media followers.
It can help you discover new ways to increase brand engagement. Do you want to know more about social media marketing metrics and how you can utilize them moving forward?
Check out some of the other posts we’ve created in this section for our loyal readers like you.
