Irrespective of which internet marketing efforts you are using for your business, you need to have a system for measuring the performance of those efforts. When you are using professional social media marketing services, they will take care of everything that matters. However, you should also have enough knowledge to not only know the metrics but to be on top of your marketing efforts. With proper analysis of what's working for you and what's not, you can make sure to invest your business capital in only the marketing efforts that will bear some fruit. Here are a few ways to know how your social media marketing is performing.
When referring to social media marketing, engagement can mean a lot of things. Every image, text post or video you share on social media needs to be engaging. But how would you know how engaging your content was? First, you will see the number of people who have viewed your content. You will then look at the social media indicators such as likes, subscribes, +1s, profile visits etc. to know how many people took interest in your content. Of course, different social networking websites have different indicators, so you will have to learn about them all. How many comments you get on your content is another indicator of how interesting and compelling your content is for your target audience.
The next big thing you have to pay attention to is your market reach. Market reach is measured by looking at the number of people who you have impressed enough to follow you. These people are known by different names on different social networking platforms. They can be your followers, fans, friends (if you have a personal profile too), subscribers etc. It is extremely important to have a big market reach and increase is on an ongoing basis. You have to keep on creating new content not only to engage with your old followers but to make new ones as well. The more people follow you the more your content gets shared. The more your content gets shared, the more traffic lands on your website.
Click-through Rate and Conversion
If you are sharing posts on social networking platforms and attracting traffic on your website or blog with your posts, you need to see how many people clicked your link. This will give you an idea of the click through rate, but that's not enough. The more important thing here is the conversion rate i.e. how many people who clicked on your link gave you a sale. To go deeper into this analysis, you should also compare the conversion rate of traffic coming from your social media marketing to the traffic that's coming through other marketing efforts. If you have a huge click through rate but a small conversion rate, there is something wrong with your strategy and improvements have to be made.
Mentions and Nature of MentionsYou can now use many different social media marketing tools to look at the number of mentions of your brand, business, product or services. When you are mentioned somewhere, you can also interact with people to make a stronger connection. However, in addition to those mentions you will also have to look at the nature of the mentions. You will have to see if those mentions are negative or positive. You want to have as many positive mentions as possible. Interact with people, listen to them and resolve their issues to get rid of the negative mentions. There are now social CRMs too that can help you build a stronger bond with your target audience by identifying your mentions.