How do I know my business social media is working?
Many small businesses have opted to run their own social media campaigns because of the costs of outsourcing simply isn’t warranted by the size of the company. The problem many of them face is, how to know if what they are doing is being effective.
Likes, connections or follows are not a good way to track success as they don’t always equate to money in the bank. When tracking success one of the words you might hear marketers toss around is “analytics” or “metrics” which are essentially just choosing the right tools and the right things to track to understand how you are doing. Every platform from your website to your Facebook page will have an analytics panel that is used to show you information about what customers are doing on your pages. Bounce rate for example is the number of people who come to your website (perhaps from your social media) and leave it after only viewing that one page. There are so many more interesting metrics to look at and it’s definitely valuable to understand customer behaviour, especially what path they took to get to you, so you can make campaign decisions.
While all this sounds great there may be no getting away from the fact that the only metrics that truly matter are still going to be leads, subscriptions or sales. It’s great to have an interactive space where customers feel comfortable to comment, but we need to remember we are running a business not a social club, so try to keep our eye on tracking the metrics that matter.