How do you measure “success” in social media marketing?
That’s a question that millions of different companies are facing, and one that doesn’t have any clear-cut answer. On the one hand, the sheer numbers that you have to consider when thinking about sites like Facebook, Twitter, and LinkedIn are staggering; but on the other, most smaller brands haven’t figured out how to leverage those hundreds of millions of users into a steady and measurable return on investment.
That doesn’t mean that it’s hopeless, however, or that you need to turn to expensive or complicated analytics packages to figure out where you are with social networking. In fact, here are three easy ways to tell if your social media marketing campaign is paying off:
1. Measure the size of your networks.
Although having a huge list of fans doesn’t guarantee you profitability on Facebook, for example, it’s a good start. The more people who agree to “like” or “follow” you on social media sites, the more potential impact you have. As a rule of thumb, you should always be gaining more people in your social network than you’re losing. If you do so, you’re probably headed in the right direction.
2. Look for comments on your posts and updates.
While the size of your social network tells you a little bit about your company’s reach, the number of comments and responses you get from your contact tells you about the depth of their attention. If people are tuned in to your profiles, then you’ll have an easy time engaging potential buyers and conversations. If they usually ignore you, on the other hand, then it’s likely that your messages aren’t unique or interesting enough.
3. Run “social specials” from time to time.
Offering things like discount codes, free extras, and other perks through your social lists is a great way to test-drive your network once in a while. Not only can it give your sales a quick boost, but you’ll gain important insight into the level of interest that the men and women in your network actually have in what you’re selling.
Social media marketing, like any other discipline, is more effective when you’re paying close attention to the results. Keep an eye on these three indicators, however, and you’ll always have a finger on the pulse of your ongoing campaigns.