Ah, yes. We all love social media. Everyone talks about it, it’s definitely the best new thing. It does great things for your business…but just how great is it? How do you measure its impact on your business?
The biggest secret about social media is that there still isn’t one standard way to measure your impact or ROI (return on investment). Many people think that the more followers you have, the better you’re doing. More followers can mean broader reach for your brand, but it matters who those followers are. Are they the right audience? Are they engaging with you?
While there are many tools out there to help capture data, I think the most important thing is to get back to basics. Ask:
What are my goals? Who is my audience? What do I want them to do?
Make sure to keep the answers to those questions in mind when formulating your strategy. If your goal is to increase sales and your audience is 14-16 year old girls, that will affect not only the tools you use (hint: they’re not on LinkedIn) but also the tone and message. You want them to go to your website to buy your product, but if you do nothing but post links to the things they should buy, you’ll get nowhere. This is why just measuring number of followers and clickthroughs to your website is too simple–you’re really using social media to create relationships.
If you’re interested in reading more, I recommend: