Before venturing into social media as a way to expand your business, you first have to set goals. Although you may have more than one goal, it’s important to remain focused with what you want to achieve.
There are nine reasons why you’re on social media: to increase brand awareness, drive web traffic, generate leads, grow revenue, boost engagement, build a community, provide customer service, increase mentions and enable social listening.
The following are metrics to assess your business’ performance, specifically in terms of reaching your social media goals:
Increase brand awareness
- How many people can you potentially reach?
- How many have you reached in a day, week and month?
- How many people are talking about your post and are sharing it?
Drive web traffic
- How many people are visiting your social media channels?
- How much of your overall traffic came from social media?
- How is the bounce rate of your social media?
- How many clicks came from your social media posts?
- How many leads (like e-mail addresses) have you collected through social media?
- How many people downloaded your content (if applicable)?
- How many people participated in your contests as well as events? Were you able to generate leads from it?
- How much revenue has social media brought in (possibly through sign-ups)?
- How much revenue was garnered from ads?
- How many people are interacting with your posts?
- How many people have mentioned your brand? How many have you replied to?
Build a community
- How many people are engaging in your community such as in Facebook groups (posts, likes and comments) and Twitter chats (number of participants and their tweets)?
Provide customer service
- Is there a demand for customer support in your social media channels?
- How responsive are you to your audience?
- Are your customers satisfied with your service?
Increase mentions in media
- How many people did your PR campaign reach?
- How many people are sharing, mentioning and talking about your think pieces?
- Are influencers talking about your posts? How many social media followers do they have?
- Are journalists reaching out to you for reference? Does your audience ask industry-related questions?
Enable social listening
- How many customers have you had conversations with?
- How many suggestions and feedback have you received?
- How many of these suggestions and feedback were carried out or have influenced your product or service?
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