Most American industrial companies have struggled to measure the returns on their social media marketing investments. I can understand the frustration of measuring the success of social media marketing. Too many companies measure the success of social media marketing by calculating esoteric measures such as “likes” and “followers”. Unfortunately, these measures are not enough to justify the return on investment, and more than 80 per cent of people that “like” a Facebook’s business pages never come back”, according to research.
So how do you really measure the success of social media marketing? The three key measures are shown below: engagement, participation and conversion.
REACH – how many people did you impact with your message?
The first place to start is to measure your “reach” – the number of people you have impacted with your social media content. If everyone ignores you in the social media world, you will do wrong and you will never produce results. Reach will give you a good understanding of the appeal of social media content to your target audience.
Engagement – how many people interact with your message?
After knowing your Reach, the next step is to see if anyone cares about your message so that it can really do that. By measuring “engagement,” you will be able to access these important information. To get people to engage with social media, you need to create valuable content that motivates people to take action. If your interactions are low, you need to evaluate how to improve the content.
Conversion – how many people take action because of your message?
Finally, it’s time to gauge the impact of your social media marketing efforts. The “conversion” will tell you how many people enter the next step to join the marketing database. The key to the success of social media marketing is to use your website as a “hub” for social media content – always link your website to your social network posts.
Net likes and unlikes: The number of people who like your page and the number of people who choose to stop following you.
Reach: The number of people who were served on impression of your content per month.
Insights: The number of fans who have visited your site and the number of fans who have converted.
Engagements: Clicks, likes, comments, shares
Follower growth: The change in number of people following your company over time.
Frequency: How often you tweet in a set time period? Compare to follower growth
Engagement: Replies, monitors, retweets, favourites
Content type: Pictures, links, etc./ Which resonates best with followers?
Brand mentions: What people are saying about you?
Follower growth: The change in number of people following your your company over time.
Seniority level and industry: The level and types of jobs of followers.
Career page clicks: How many times visitors clicked various elements of your career page.