There are a lot of ways to measure success in marketing. When it comes to social media, the sheer volume of numbers and figures to process can be overwhelming. The fact of the matter is, there’s a lot of meat to social media analytics; while everything is important, there are a few stats more integral to understanding your current standing than others, and understanding how and why to track them is just as integral to making every marketing endeavor more effective than the last.
1. Reach: Measuring your reach may seem like a challenge, but this statistic is actually one of the simplest to understand in social media. All you need to do is track the growth rate of your audience through your number of followers. Rather than watching for how much people are talking about your company or how many shares you get from day to day, the Next Web recommends keeping an eye on your new follower count and viewing this from a macro instead of micro scale. Track it daily but report it quarterly to get a solid understanding of how far you’ve come.
2. Acquisition: This is another necessity that often seems more complex than it really is, although—like reach—it still requires some time and tools to analyze properly. Tools like Hootsuite allow you to track the number of URL clicks your posts receive through a custom link shortener, making it possible to take note of how many of your webpage visitors within a certain timeframe came from social media. Comparing this to your bounce rate can help you understand both what you’re doing right and what you need to change. If you notice your bounce rate increases in tandem with an increase in traffic from social media, maybe your prospective customers aren’t seeing what they want to see when they reach your page, or perhaps your hook isn’t clear enough. Each of these clicks is a possible lead, so keep an eye on them!
3. Engagement: Here’s the easiest to measure and the easiest to report on, of all the must-have social media stats out there. Engagement is measured through comments, likes and shares via whatever social network you happen to be using. You may find yourself getting more retweets than reblogs or more likes than comments; tracking these allows you to find out what kind of content gets the most attention from the right kind of people. You can easily keep track of these over time and compile detailed reports for your own review with each new marketing campaign.
Of course, tracking these analytics and compiling these reports does take time and a certain level of expertise. For many small business owners and independent entrepreneurs, there simply aren’t enough hours in the day—this is where the professionals come in. Getting someone to manage and report on your social media marketing can take a huge weight off and small business, allowing you to focus on your business and know that your social media efforts are going to pay off. It may take a bit to hit your stride, but with the help of a professional you’ll have the right analytic reports to show how powerful that stride can be.
Are you ready to get serious about improving your businesses Social Media presence? Contact 4 Step Studio today by filling out this form to get started!