Social Media for Business Part 3 – Measure
Social Media is can be labelled in many ways and used for various different facets of a business, but it all falls under the same bracket of ‘marketing’. Indeed there is a fair case to be made for renaming social media as ‘Social Marketing’ and with any form of marketing there needs to be a way of defining the metrics to measure your activity.
Therein lays the million dollar question: what is an accurate metric to measure social media success? Unlike PPC where you can track conversions or email marketing where you can trace click-through rates a lot of your social media activity is, by definition, ‘social’ and therefore untraceable. The goal posts have moved, but all this means is you need to move with them – define your metrics! Whether that be the number of your Twitter followers, traffic generated to your website through Facebook or direct ROI attributed to your social output, the fundamental aspect to remember is to know what you are measuring. People often pour scorn on judging your social media success by your number of followers, and there is a strong argument for this belief, but if this is the route you decide to go down at least you have a tangible way of discovering if you are succeeding in your campaign.
Once you have established your metrics then you have a clear plan of measuring your social media activity. You need to measure all your marketing outputs – social media is no different.
Monitor, Engage and Measure.