The 10 metrics to track to control the ROI of your Social Media Marketing (SMM).
One of the problems with Social Media Marketing (SMM) is that it is difficult to measure the ROI of the actions carried out. The usual metrics of Digital Marketing or eBusiness cannot be applied to SMM. So you have to look for other metrics, or settle for not measuring the ROI. Since this last option is not acceptable under any circumstances, let's see what metrics we could use to measure the success or failure of our investment in Social Media Marketing.
1. The size of our social network.
One of the main objectives of having a presence on Social Media Sites (SMS) is to achieve a communication environment with the maximum number of people taking part in it. Let's start by measuring this. The metrics to follow in this case would be:
- The number of members of our social network
- The growth rate of our social network
2. Customers
Another objective of our presence on Social Media Sites is to obtain business contacts or, directly, new clients. So it makes sense that this metric is also part of the analysis:
- Number of business contacts obtained on Social Media Sites (SMS)
- Number of customers acquired through SMS
- Conversion rate: number of customers or contacts / number of members of our network
3. Participation in Social Media Sites
Continuing with the objectives that justify our presence in SMS, we see that one of them is to obtain the maximum information about the behavior of our users or our target audience. Therefore, it makes sense that we measure everything that is related to this objective:
- Participation of third parties in our social network (in the form of questions, comments, congratulations... whatever, but done by someone other than us).
- Recommendations or invitations from third parties to our network.
- Number of “new ideas” or “good ideas” that we have obtained thanks to the participation of our clients or our target audience, and that will improve our products or services.
4. The brand
Our participation in SMS also aims to achieve greater brand awareness. Therefore, we should also look for metrics that show us our evolution in this regard. Some of these metrics may be:
- Times we are mentioned in other SMS or on other websites in general (it is easy to control this with Google Alerts, or simply by searching for references to our brand on Google).
- Permanent links to our blog, our SMS or the tool we are using to participate in the Social Media Sites.
So we can see that the task of controlling the ROI of our investment in Social Media Marketing is easier than it seemed and that we have metrics that help us monitor our presence on Social Media Sites.
If you carry out Social Media Marketing (SMM) actions, don't forget to integrate these 10 metrics into your Dashboard.
One Response
Goodbye Montse,
This is why I have the privilege of offering a master class on electronic commerce.
For all the various people who buy the brand and the company, I could say that this is the one who has always asked me what month.
I would like to thank you for helping me here and helping me understand it. You have a way of explaining and a passion that it is inevitable to “reform” your listeners.
Finally, I am dedicated to the topic of totxo (for my new family more than anything else), but now, seeing the panorama and that my father is retired, I have found the opportunity to return to an advertising agency that is really the one that best suits me. 'passionate.
I started on the 1st and the next day, they sent me to escort you so that I left for the day. I explain everything here because I would love to participate in a course of aquests that lasts a week so I can train myself in these topics and I will also donate good services to our clients and not only will I sell design. Could you tell me what your proper course is (face that followed Bcn) to see if I can assist you?
On the other hand, the conference has said that they can begin with what they see as proposed from here. If you are aware that you are facing something to determine, it is necessary to assess the possibility of waiting or moving there on the spot.
I hope you can excuse the meva intrusion and that I didn't steal massa temps.
Thank you again,
Cristina Puigpinós