Social media now holds a place alongside TV and print as a major marketing tool for businesses. For this reason, it is considered a key channel when determining marketing ROI.
A study by Nielsen has found that social media and blogs account for nearly a quarter of online users’ time spent on the internet. This shows the significance of tracking and measuring the social media efforts to know the impact of businesses’ online presence.
Let’s have a look at why you should keep track of your social media marketing strategy to build future success.
Know What Works Best for Your Business
If you are unaware of how well your content is received across social networks, you may fail to create a marketing strategy geared towards gaining engagement. By tracking users’ engagement metrics, including likes, comments, shares, retweets, repins, and 1+s, you can see what grabs your audiences’ attention and what does not work for them.
In addition, this may help you get valuable insight, such as the right type of content to post (photos, videos, etc.), the best time to post, the right frequency to post, and what demographic you are reaching the most. In order to monitor such activities, you can use specialized social media reporting tools.
Find Where Your Business is Coming From
The presence on a variety of social media sites may help you reach a broader range of audiences and build relationships. However, it is in your best interest to focus on two to three sites that offer interaction with more specific audience and generate greater returns.
In order for this, you should track your results on social media to identify places that are generating value for your business. With better understanding of more valuable resources, you may use a similar conversion strategy across all media to increase the effectiveness of your overall social media marketing program.
Set Realistic Goals
Without knowing the results of current efforts, it is difficult to set realistic goals for future growth. With appropriate tracking of results on social media, you can set achievable goals for your marketing program to build your success on. These goals could be related to the number of followers you expect to get, the number of interaction you hope to generate, or the number of shares. Additionally, you may also set sales related goals, such as number of sales through a channel, number of customers coming from a social media page, number of referrals, and others.