Small or large, every company can use social media to make more out of marketing efforts. As often as you virtually socialize, though, how much is social media actually doing for your company? Would those customers be walking through your door if you had never set up a Facebook profile? Would they be responding to your ad if you hadn’t put a note on it on your Twitter account?
Evaluating Social Media Success
Just like every other marketing method needs to be evaluated, you have to keep an eye on your social media numbers to decide how well things are working for you. You can’t simply keep putting posts out there without knowing what they’re really doing for your company. If you do, you’re just shooting in the dark.
Wondering where to start? You may want to get a baseline impression initially. Before you amp up your posting efforts, start a new campaign, or even hire a new social media marketing company, taking a closer look at your starting place is an absolute must. Think carefully about your metrics here. You can measure your starting revenue, followers, or even commenters. Exactly what you’re trying to measure is up to you. Many people want to see it financially paying off, and if that’s the case, you’ll want to look just at revenue. Others want to see a dramatic increase in those who seem to care about their posts.
Your next step is to look at how much you’re spending on your efforts. This doesn’t just have to be physical spending. It could also involve your time. For most small business owners, time is a valuable resource, and understanding exactly what your social media marketing efforts are sucking from your company can help you quantify whether it’s worth it.
Finally, start paying attention. Is your revenue increasing? Are your costs stabilizing? Choose a few times a week to look at the metrics you’ve set for yourself, and measure them consistently. It’s the only way you’ll truly know if you’re getting a good deal.
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