Do you know what the return on investment (ROI) of your social media efforts is for your business?
Do you know which key performance indicators (KPIs) are most important to your business and how they are tied to your business goals?
Do you know where to find these metrics?
Do you have the tools to measure them?
If you answered No to any of the above, chance are you’re not utilizing social media efficiently, or effectively. Not only is the “spray and pray method” with social media not effective, but it can also cost you money and harm your brand image.
So how can you effectively measure your social media efforts to (a) make sure they produce the results you want and (b) identify the specific activities producing the best results?
You start by identifying which of your business goals social media can help you achieve. These fall under two categories:
- Sales goals
- Branding goals
You can then use these two sets of goals to create useful KPIs to track the ROI of your social media.
The ROI of Social Media: How to Measure What Matters
Before we dig into which social media KPIs, I want to make sure you understand what a KPI is.
KPIs are merely the results, or outcomes, you want to achieve from your social media efforts. If you put consistent time and energy into your social media activities, you need to see some definable and measurable results. […]