• Irvin

How to Measure Social Media Marketing Performance?

Updated: Apr 7, 2020

Guess, you are the social media manager, community manager or marketing manager who manages Facebook on the side, and the boss asks you how your social media marketing is doing this month.

This is a question I regularly get from my boss. It's the magic unicorn of the social world to be able to give a meaningful answer on how we do on social media. Sometimes it can be overwhelming to narrow metrics that can be measured in social media, and it is important to watch regularly to be able to answer that question like a pro.

So, today I will explain what KPIs you should keep an eye on, what social media metrics are there and how to measure your social media marketing performance.

How to Measure Social Media Marketing Performance?

Step 1: Determine or Develop your Goals through Social Media

Step 2: Create Measuring Metrics for the Goals and Track Your Tactics

Step 3: Measure

Step 4: Monitor the Progress and Report

Step 5: Adjust and Repeat

What is social media marketing?

Social media marketing is the use of social media platforms to communicate with your customers, create your brand, boost sales and drive traffic to your website.

In the corporate world, social media is dramatically embraced throughout the world. The prominence of social media makes it even harder for anyone to lack a corporation without any social media account. The main purpose for most companies embracing social media is for using it as a customer support channel and a marketing strategy.

However, there are a considerable number of companies which just seem not to get it right. For instance, consider looking at the social media blunders of last year. With evidence of such downfalls, it is clear that social media is never an outright success for businesses. The measurement of the success of social media might be hard. However, it is not impossible.

Wait, is social media essential for my business? If you need to know, I’ve answered this question in detail before. Check out my How Does Social Media Help My Business post for more information.

Most of the business entities, indeed, need to have social media. However, it is not a must for one to have social media for their business entities.

However, it is just good for a company to have at least a Facebook account that they link to their website. The most important question in the whole social media issue for anyone to ask themselves is – am I ready to commit consistent resources to the marketing strategies of social media?

Every other company can benefit from social media; however, considerable smaller ones can worry on the issue of allocating resource for the same. It is essential to conduct a cost/benefit analysis for social media marketing, just before engaging oneself.

There is indeed no direct way of getting social media marketing right. However, below are some of the outright benefits one can get from social media marketing.

The above sounds good, of course, they are good for any business growth and stay in the market. However, once you have committed to social media (or planning to), you have to come up with a means of measuring the benefits from the process.

However, do you just really need to measure social media marketing for the sake of measuring? Of course not, you have to come up with the metrics of measurement to learn the success rates, those which are not, but means of improvement.

Social media marketing is divided into two distinct types;

Ongoing Strategy – Tracking of activities over time through ongoing metrics,

Campaign-Focused Strategy – Campaign or analysis of events which have a clear beginning and end.

So, I’d suggest you first to decide if you are planning a long-term strategy or is it just for a one-shot campaign. No matter what your company does at the moment, it’s always better to plan things. Keep an ongoing strategy for your company’s marketing and keep social media on top of it.

How to Measure Social Media Marketing Performance?

Step 1: Determine or Develop your Goals through Social Media

The fact that many companies around the globe are using social media, they all do not use it for the same purpose. As seen from the above benefits of social media marketing, there are different things that social media can help you do. Therefore, before determining how to measure your marketing, you should come up with what you want to achieve.

Determining the goals of social media marketing is not just a walk in the park. Considering the various benefits of social media marketing, it can be hard to come up with the most effective one for your organization. However, listing all the goals of your organization before determining the specific ones to measure can turn out to be helpful.

Some of the goals of social media might include broadcasting news and information, communicating with customers easily, building brand awareness, driving traffic to your website or increasing leads and conversions.