Is Social Media Measureable?
Companies need to be able to track how successful their activity actually is compared to the goal it is aiming to achieve. Digital marketing methods such as PPC and email marketing provide obvious and credible measurements of success, but social media is often accused of not being as easy to track as its fellow online channels. How do you, therefore, go about tracking social media and what are effective measurements of success?
Firstly you need to establish clearly defined campaign goals before attempting to actually see whether those goals have been met! Remember that social media is very good at building communities and extending a digital arm to your customer service channels, so measuring the amount of leads/purchases accredited to social platforms is not always the best way to judge its impact. Follower/fan base is one way to see if what you are doing is working, but try to delve deeper – what you are trying to do online is ENGAGE with your customers and potential future customers.
You are building a community so this is what you should try to measure. On a weekly basis see how many mentions your brand has got online, how many of them were directed to your social media accounts and also how many came from your own accounts. Set these up as a ‘ratio of engagement’ to see how successfully you are engaging online. Only once you start to engage will your follower base grow, so it stands to reason that once you start to engage the amount of followers/fans you have becomes a credible metric to measure.