If your brand is using social media to market then having the knowledge of how your on-line campaign is faring is of utmost value to you. As they say – Knowledge is power – having a grasp on what you are doing right and what is not working for you can only give you an edge on running a successful campaign. So, where should you look? Or better yet which metrics should you look at to keep track of your company. Here we list three metrics you ought to look at to measure your social marketing.
1. Share of Voice
What people are saying about your brand may be something you are already looking at, going a notch further to find out what percentage of mentions within your industry actually go to your company is where you want to focus. Just looking at the mentions coming to your brand could be misleading. Share of Voice helps you find out what percentage your company gets and compares it with your competitors. Social Mention is a free tool you can use to do this.
2. Referral Traffic
One of the many reasons brands find themselves on social media sites like Facebook and Twitter is to get the attention of the millions of users and probably get them to your site. To find out which site increases your on-site results and which isn’t tells you where you need to put more effort. Google Analytics is a great and simple tool you can use to find out which social sites sends the most referrals.
3. Conversion Rate
Most important, this metric tells you what is working for your business. The amount of referral traffic that actually converts to your site activity whether through product sales, conversations, newsletters etc is the measure we take a look at here. This measure will need two elements of Google Analytics: Goals and Advanced Traffic Segments.
Google Analytics Goals helps you determine when a specific action has happened on your site. Advanced Traffic Segments can break out your analytic data by individual traffic source. The more definitive your data the better you understand what works for you. conversion rate should be carried out at least once a month.
These measurements are sure to add value to your business.