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A Guide to Social Media Marketing Measurement

  2. How do I measure my social media efforts?
  3. This is one of the questions I hear most often from businesses.
  4. Your social media success might not be measured by WHAT you measure but also WHEN you measure it.
  5. The key is finding the right measurement for your organization’s place in the social media journey.
  6. To do that, let’s look at a simple graph that shows how marketing works over time.
  7. TIME INTERACTIONS copyright schaefer marketing solutions ENGAGEMENT MARKETING
  8. copyright schaefer marketing solutions Our job is to provide interactions that drive higher levels of customer engagement over time. TIME INTERACTIONS ENGAGEMENT MARKETING
  9. There are different milestones you achieve as engagement progresses over time.
  10. TIME INTERACTIONS copyright schaefer marketing solutions Awareness Reliable Reach A MULTI-LEVEL APPROACH TO MEASUREMENT Financial Gains
  11. Financial Gains are the ultimate goal but that doesn’t happen right away. TIME INTERACTIONS Awareness Reliable Reach copyright schaefer marketing solutions Financial Gains
  12. In fact, research shows that while most businesses get a boost in awareness in the first year, for some businesses it may take 4-5 years of effort before finding financial returns.
  13. To help you find the right measurement, let’s look at each of these phases and key metrics for each.
  15. As you get up and going with the first phase, you’re figuring things out.
  16. Experimenting and failing. Aligning with platforms and partners.
  17. But most importantly, you are building a content-creating culture.
  18. You need to show that you’re creating that culture through metrics such as:
  19. Increasing your organic audience Establishing a consistent and reliable publishing schedule Seeing a bump in your website traffic as a result of your content Early signs of engagement like Likes and Comments Measures that show your brand awareness is building through social media mentions AWARENESS SUCCESS METRICS 1 2 3 4 5
  20. By the end of the first year of your content marketing journey, you should be ready to change your metrics.
  21. That brings us to the next phase.
  23. In this second phase, you are moving beyond broadcasting.
  24. Your focus is creating a deeper audience connection.
  25. You are building a reliable audience.
  26. An audience that subscribes to your content, saying “Please market to me!”
  27. In this connection phase, it’s time to overhaul your metrics by focusing on:
  28. The number of people subscribing to your channels Lead generation (sales, new employees, suppliers) Advocacy through content sharing Authority through influencers RELIABLE REACH SUCCESS METRICS 1 2 3 4
  29. How long does this second phase last? This will vary a lot by industry, and specifically by the competition and information density you are up against.
  31. You’ve been consistent with your social media efforts.
  32. You’re seen as a helpful and trusted authority with your audience.
  33. With these building blocks in place, you’re poised to start realizing tangible financial benefits from your efforts.
  34. This will vary wildly by business and industry but somewhere between 1 and 3 years you should begin seeing some financial benefits.
  35. So when you feel like you’ve outgrown the phase two metrics, it’s time to change your measurement to reflect:
  36. Customer loyalty and retention Conversion rate SEO benefits Marketing cost savings and cost avoidance Sales FINANCIAL GAINS SUCCESS METRICS 1 2 3 4 5
  37. Let’s do a quick recap.
  38. A MULTI-LEVEL APPROACH TO SOCIAL MEDIA MARKETING MEASUREMENT Adjust to the appropriate metrics depending on your place on the social media journey.
  39. I hope this guide helps you solve the social media marketing measurement puzzle.
  40. The great news is, you don’t have to do it alone!
  41. I wrote my new book for YOU.
  42. Learn how to ignite your content, your marketing, and your business with The Content Code. GET IT NOW ON AMAZON “This is the text book for the content marketer of the future.” — Ryan Hanley “This book is a game-changer.” — Jay Baer "The wisdom in this book is a gift to us." — Emeric Ernoult
  43. Lastly, remember this:
  44. “Social media is a tool to build awareness, connections, relationships…and eventually action.” -@markwschaefer
  45. SAY HELLO ONLINE! DESIGN @sarahsmason CONTENT @markwschaefer