5 easy steps to measure social success for beginners
Calculation ROI (Return On Investment) on advertising has always been difficult and social media has not helped in making it easier at all. Here, we list, 5 points you can use to measure social success.
1. Vanity Metrics to start with
This is the most basic way you can measure your ROI — track vanity metrics: number of likes, followers, fans and subscribers, you should just be careful of two small points here:
- We should not care about the absolute value but should care about the rate of growth of these metrics. Instead of tracking the fact that we have 1000 followers, we should be more concerned that since yesterday, we just have 1 new follower.
- We should track these metrics for our competitors and only then draw conclusions to whether we’re doing good or bad in our social strategies. There are times when certain industries are doing great and times when they are not, which you can only know if you track your competition.
2. SMART Goals
If you fail to plan, you’re planning to fail.
This age-old quotation still holds true for social. As soon as you start feeling that vanity metrics (likes, followers) is not giving you enough data points, it means it’s time to dig deeper, but don’t take a step further before you define your social media goals. You need to have weekly and monthly goals in terms of what you want to achieve and which metrics to track for it. For example engagement, awareness, adoption, traffic, leads, sales, the speed of resolution are goals whereas retweets, shares, reach, the time taken to reply are metrics.
The goals and metrics you decide should be SMART (Specific, Measurable, Attainable and Relevant)
3. To measure or not to measure .. that is the question
The fact that every channel gives you it’s own stream of metrics makes it easier to get lost in the ocean of numbers. Just because it’s possible to measure so many things doesn’t mean that you should.
Once you list down your goals, find the corresponding metrics and start tracking them on a daily, weekly, monthly basis.
In the image below we have explained our social media goals with the metrics we are trying to track. We are currently focused on increasing awareness for our platform, making people engage with our content and lastly, increasing traffic to our blogs & website.
Getting results on social media take time, most of us promote our little brands on social for a week or two and forget all about it. Social media needs to be a continuous effort and can not be a one-off thing. Patience and perseverance is the key here.
It will take a few cycles for you to understand your goals and the metrics you need. Do not be afraid to say ‘we were wrong’, if you feel some metrics were missed, some were not required, or a goal wasn’t clearly stated then make adjustments and start your measurements.
This was a very basic article on how to measure your success for people new to social media management. If you need any help with social media, join our facebook group by clicking here and our community will definitely help you out!
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