Determining the success of a social media campaign comes down to an issue of metrics. The following are the top three metrics you should be looking at when gauging the success of your social media strategy.
Active participation: A quick snapshot of any social media campaign is to look at the number of users who are accessing your social media profiles. With Facebook, it would be the number of “likes.” With Twitter, it would be the number of retweets. However, these numbers aren’t the only ones you should be studying. Go deeper. The key to social media is engagement. For instance, Facebook provides its page administrators with a detailed analysis of the percentage of comments generated and views. The other networks have metrics such as page views and mentions that can also indicate the kind of volume your company is attracting.
Your bounce rate. Are your visitors arriving at your site from your social media profiles but leaving immediately? Take a look at the time spent on your website from your different traffic sources. If you find that visitors are spending less than a minute on your website, then maybe your landing page needs better copy. Or maybe you’re attracting the wrong audience.
Conversions: You want social media campaigns to convert, either into subscriptions, sales or any other items that you’re offering as part of your sales funnel. If your sales increase after launching a successful social media campaign, then it worked. However, those numbers can also be used to determine the return on investment when it comes to expanding your reach. For instance, if you have a 5% increase in sales with a 10% increase in site traffic then it follows the more traffic, the more sales.
Not all of the metrics are simple to track and may require some advanced tools. It’s very important to take the time to have the right measurement and analytical tools in place before you start a social media campaign. Without the right tools, you won’t be able to determine if your campaigns were successful or an abysmal failure.
How do you measure your business' social media success?