These days, many social media marketers are concerned about the effectiveness of their marketing campaigns due to the fierce competition on the internet. While it’s not hard to quantify Facebook activity, measuring social media is risky essentially because all social media platforms have totally different functionality. Nevertheless, despite the myriad challenges of tracking the effectiveness of social media, some companies have been able to solve the conundrum. The precise way to do this will be different for every company for its different business objectives, different strategies, different assets, a different business model. Using the same method to measure social activity would be wrong, and it wouldn’t work.
Here are a few ways that would help you decide how effective your social media campaign is.
- Define what “effective” means
Is it more revenue or more brand awareness that drives you to gain from your social media marketing? Or is it more social media leads that ticks you? Some people also believe that automating social media will considerably help, while many others are of the view that all four factors should be taken into account, but it’s you who has to decide your own meaning of ‘effective’. So, start brainstorming and come up with what works best for you to effectively measure your social media campaigns. And the definition is not something permanent; you may well change it next year in case you see a change in your business goals. However, until you are clear about what “effective” means, it’s almost impossible to measure it.
- Track your idea of effectiveness through some metrics
If your “effective advertising” means more revenue for your organization, then the classic ROI formula is bound to work for you. And the matter becomes even easier to tackle if you only want to track brand awareness. Although brand awareness is not impossible to measure, it’s not as simply quantifiable as revenue. However, there are companies that can quantity how cognizant your target audience is of your brand or products/services now. And then your team can decide where you want your goal brand awareness number to be. That’s precisely the point where some companies just avoid tracking every single step along the way. You, however, will need to track every campaign by how well you are familiar the brand awareness measurement that you want.
3. Meet your needs through the best possible attribution model
An attribution model is essentially the method you’ll use to tie marketing messages and customer actions straight to measurable results. Simply put, an attribution model takes into account various aspects your prospect will review before becoming a customer. It weights each touch and then allots each touch a calculated value (in dollars) for the sale. It’s not easy to choose the perfect attribution model, so make a well-informed decision before you opt for one. That’s where data-driven attribution, which can help you emerge successful, can help.
4. Assess your audience’s reactions
If you want to find out what it is that interests your audience the most, evaluate your audience’s responses on your social media post. This will allow you to focus more on what your users find the most interesting. And every social media channel, be it Facebook, Instagram, or LinkedIn can easily do, as the inbuilt analytics provided by these platforms help you evaluate the users’ reactions to your post. Likewise, you need to check when someone tags you in a post or, mentions you; the more users tag you, the more users you reach. This promptly improves your business visibility as your followers get to know about the tag.
5. Evaluate Click Through Rate
Closely linked with direct conversions, Click through Rate (CTR) is also one of the key factors, helping you determine if your marketing campaign is up to scratch. Usually, a higher CTR means your marketing campaign is effective, because the more clicks you get, the more visitors are drawn to your website. CTR is considered as one of the KPIs by most of the businesses, and is generally used in PPC ad campaigns. If you have your own business, you must be capable of measuring the effectiveness of your social media campaigns using this important method.
6. Keep track of the Number of Followers
Keep this key point in mind: the more the number of followers on social media profile, the greater your brand’s popularity. A surge in the number of followers clearly suggests that your social media campaign is successful. Your followers are your asset, so try to keep them happy and engaged all the time. And if you have done social media marketing correctly, then you must have noted a rise in the number of followers.
7. Boost social media engagement
Increasing social media engagement is extremely crucial for an effective social media campaign. And engagement comes in the form of likes, shares, tweets, reposts, follows, ratings, comments, and more. Measuring engagement metrics lets you learn how people are engaging with your brand, which allows you to see if your audience is interested in your content and whether or not they find it good enough to share it with others. While there are a number of ways to enhance your social media engagement, nothing is more important than creating valuable content that will entertain your audience as well as encourage them to react. Remember, social media marketing becomes unsuccessful without quality engagement.
8. Evaluate if your efforts have paid off
Once you have defined the right metrics, it’s time to check if your campaigns goals are able to achieve the desired results. Go back and evaluate the major reasons that prompted you to do social media marketing in the first place. Did you manage to acquire an average of 1,000 engagements per Facebook post for over 30 days? If the results did not match your campaign goals, then it’s time you created more appealing content.