Okay, we just posed a lot of head-scratching questions to you. But they are important to ensure that you’re not wasting your time, and focusing on the areas or platforms you should be. Should you really be spending so much time on LinkedIn when your target demographic is on Twitter? No matter where you are spending your time, you should know the ROI of your marketing plan. There are several ways to track and measure your ROI (regardless of the social media platform), but be sure you take these points into consideration when you’re measuring your social media ROI.
- Put your goals on paper. There are many worthwhile goals you’d like to see from your social media program. These include post engagement and shares, boosting page likes, or driving traffic from social media accounts to your site. By writing them down, you have something to turn to refocus your efforts, as well as remembering to check to see if you’re actually meeting them.
- What social media metrics are important to you? You may be after update shares, page likes, comments, newsletter sign-ups or retweets. However you’re planning on measuring your success, you’re going to need help to do it. Google Analytics is one tool you can use to track your reach on your blog, and to see how much traffic a month is coming in from your social media platforms. As well, Twitter and Facebook have their own tracking and statistics for users. To paint a fuller and brighter picture, you may opt to buy more sophisticated software tools to really gain insight into your numbers.
- What will these social media platforms do? That’s what so great about social media – you can use it to sell products or services, educate and inform, or gain the attention of a prominent brand. And it’s fine to have more than one reason to use social media; just be sure that your motives are clear so you can focus on these goals.
- Which sites are you going to spend on? Know where your audience is and spend most of your social media time on those accounts. It may take a few months or years until you build up enough of an audience to see where your engagement is coming from. But when you’re starting out, see where your target audience is hanging out and join them on that site.
- Don’t just sit on that data you’re collecting. Do something with it! What good is all that important info if you don’t study it and see what you can improve on or what’s working well? Put it in a spreadsheet, so you can look at the numbers to see if you’re growing an audience. Check into your Google Analytics account every few days – make it part of your weekly routine. Make note to see what SEO keywords and contents are getting more hits than others. Are trends a hot topic on your blog, or are people gravitating toward product reviews? Google Analytics will show you what posts are bringing in the most people and where they are coming from. You can see what’s trending on your blog, and even what times of the day you should be posting at.
It’s going to take a bit to get into the swing of measuring your social media ROI, but let us tell you… it’s totally worth it. You’ll stay on top of what’s important to your audience and tailor content to their needs. Do you have tracking in place to measure your social media ROI? Tell us what you use in the comment section below.