You spend time, energy, and money making sure your social media presence is known to your customers. As a business owner, you may not have time to look at every graph and chart provided by your social media manager. With social media still being a new marketing tactic for some businesses, how can you tell if your efforts are successful? What metrics should you be examining?
You should have Google Analytics or another program installed to track all the visitors to your website. Examine your traffic from all social media platforms. Create a chart that identifies your top sources. Over time you'll be able to see which have the most growth potential.
2. Visitor Retention
This is different from traffic reporting. Understanding the time people spend on your website when they are referred from social media is important. If you see that your visitors are leaving quickly, then you should consider updating the design and/or copy of your landing page. Also, look at the information you are providing. Are you just selling your products or giving useful information? Remember, interesting information goes a long way, and overselling a product turns fans away from your business.
3. Audience Reports
The purpose of social media is mostly to engage and interact with followers. Just remember you want those followers to grow in numbers. It's always good to keep records of how many new followers or likes you are receiving weekly.
4. Engagement Reports
Interacting with your followers is a key component of social media. Record the number of active members vs. total members. If you find that you have a low percentage of active members, perhaps you need to start a campaign to reach out to those members who have not participated in any social media conversations lately.
5. Conversion Rate
It would be unrealistic to say you aren't selling something on your social media site. Just like any other medium, you want to keep a good handle on what drove your consumer to make a purchase. Creating a unique code for your social media fans to use at checkout, or a coupon fans can print out and redeem in your brick and mortar store, is the most direct way to track sales.
Are you giving people something to talk about? Be on the lookout for how often your brand gets mentioned. For Twitter you should create a #hashtag so you can look at what has been said about your business when you do a search.
7. Sharing Report
As a child we heard things like, "Sharing is Caring". The sharing report has the same idea behind it. Look over how many shares your Facebook posts have created. How many friends of friends have shared your posts with their network? It’s important to know that your content is worth spreading.
8. Blogger Breakdown
You share your ideas and tips with the world via Blogger or Wordpress, but are your readers connecting with your information? Remember to make sure that you turn on the "Allow Comments" section on these blogging sites. Encourage opinions from your readers. Always add in social media buttons like Twitter, Facebook, Reddit, and StumbleUpon. Make it easy for your follower to spread your word by the click of a button.
It might feel like there are far too many social media platforms in the virtual world. Here's a list of the top websites and why they might benefit you.
Facebook is approaching 1 billion users (although that number was recently challenged due to the number of fake and/or inactive profiles). Those with a Facebook profile generally leave their browser open for many hours a day, but most are there to connect with friends and socialize. With so many users, this platform can be helpful in both B2B and B2C marketing. Make sure you understand the difference between profiles, fan pages and groups.
Twitter receives approximately 144 million unique visitors each month. Reportedly, Twitter users are multi-taskers who are easily distracted. This platform is more open, which can be overwhelming but useful when searching keywords. Hashtags can help you be part of a larger conversation about topics.
Google+ will reportedly have 400 million users by the end of 2012. Sixty percent of their users are web developers or software engineers. Seventy-five to 85% are men, and the most popular age range is 25-34. Google+ is definitely rising in the ranks and may certainly take over the top spot someday if Facebook continues to frustrate users with format changes.
LinkedIn has over 100 million users, the majority of which are there for professional reasons. Over one million are high-ranking executives with decision making authority. LinkedIn is best used for B2B marketing.
Reddit receives millions of visitors. It is a social site that allows users to submit links, and then allows other users to vote those submissions "up" or "down," so that popular posts are more easily found. The site can be useful to help create viral ad campaigns and cause awareness.
StumbleUpon calls itself a "discovery engine" that finds web content for its users. It recently surpassed Facebook as the highest traffic referrer of any website. To catch the StumbleUpon user's attention, use flashy photos and catchy headlines.
YouTube reportedly has a brand value of $18.099 billion. As the internet replaces the yellow pages, television and radio in the advertising department, YouTube can provide you with a format for releasing visual content.
Pinterest is a virtual pinboard. It relies heavily upon photos and videos, which are the most popular posts for business fan pages on Facebook. Women between the ages of 25 and 44 make up 59% of its membership.
Tumblr is a very simple blog site and, like Pinterest, is photo/image-based (well over half of the content uploaded are images). Tumblr offers seven options for posting content: Text, Photo, Quote, Link, Chat, Audio, Video. Users can then "like" your post or "re-blog" it. Tumblr had over 15 billion page views in January 2012.
The top two social networking sites remain Facebook and Twitter. However, there are many other sites out there. Ask your customers where they spend their time and consider spending some time there yourself. Which sites do you use to promote your business?
Facebook has 800 million users. Although those with a Facebook profile generally leave their browser open for many hours a day, most are not actually on Facebook to buy items. They are there to connect with friends and socialize. So advertising to the Facebook users requires patience. You should target users based on their interests to create a connection and build a relationship, however you should not try to sell directly to them.
LinkedIn has 100 million users, the majority of which are there for professional reasons. Over one million are high-ranking executives with decision making authority. LinkedIn is best used for business to business marketing.
Reddit receives millions of visitors. If you are not familiar with Reddit, it is a social site that allows users to submit links, then allows other users to vote those submission "up" or "down," so that popular posts are more easily found. The site can be useful to help create viral ad campaigns and cause awareness.
StumbleUpon calls itself a "discovery engine" that finds web content for its users. It "recently passed Facebook as the highest traffic referrer of any website." To catch the StumbleUpon user's attention, Kissmetrics suggests flashy photos and catchy headlines. They tout StumbleUpon's paid platform as possibly the best of all the social media sites.
Twitter is still finding its way in the marketing world. Apparently Twitter users are multi-taskers who are easily distracted. Kissmetrics does warn that you need a fairly large marketing budget to advertise on Twitter. However, if you are building a brand, the return on investment can be significant.
Have you tried advertising on any social media sites? Let us know how it worked for you!