You will never succeed in social media endeavors if you don't... Establish Success!
Last week, we talked about the first of two essential steps in achieving success on social media: Defining the Problem. This week, we’re diving into Part 2: Establishing What Success Looks Like. Whether that problem is retaining customers, driving new customers, or simply gathering and digesting important data, you’ll never solve it without first defining what success means for your business. Once you do that, you can prove to both yourself and your company how valuable your social media work is in direct relation to a challenge your business is currently facing!
Social platforms like Facebook, Twitter, and LinkedIn have lots of different metrics to help you define success. Everything from "likes," to reviews, to retweets, to traction on specific promotions can be measured effectively.
To be successful, it's really about finding the right combination of metrics that can report on your progress towards your end goal. Here are some social media success metrics to consider:
For establishing customer loyalty Metrics that focus on engagement on your content (likes, comments, replies, retweets, or favorites) should be your focus. Customers who actively engage are more invested and loyal to your business. Use Calls-To-Action in your copy, like “Comment below if…” or “Like if you love our new items!” Referrals show the ultimate loyalty, though. You can drive referrals by giving social incentives and tracking with a social-only coupon code, or custom referral page.
For driving brand awareness Here, you want to focus on impressions and shares, which will result in more eyes on your page. On Facebook, boosting posts will give you an increase in impressions. Additionally, on ANY social network, anytime someone shares your content, it is seen by their followers and fans.
For breaking out of your mold For new demographics, your metrics should be focused on how your Ads perform. Run similar Ads (on Facebook, Twitter, or LinkedIn) to different audiences and see where you get the most bites. You can differentiate them through targetting by age, income, behaviors, interests, etc. The click-through-rate and # of desired actions achieved will be your most important numbers to look at.
For getting more valuable business data As you create and execute on different campaigns and ideas on social, you MUST pay attention to who the audience is. Analytics tools like Facebook Ads allow you to track your audience's characteristics. What ages and genders follow you? What type of fans interact the most? The beauty is that with social media, you can A/B test and experiment with different messages to see how it affects your audience.
Hopefully, now you have defined the problem you’d like social media to help solve within your business AND have a clear picture of what success will look like for you. Remember, a proper goal includes a number value and a deadline!
As always, Likeable Local is here to help! If you have any questions on social media success metrics or how we use them, get in touch with us here.